Monday, January 12, 2009

Dear Raju of Hinjewadi, have you sold out your second flat which you booked as an investment in Pune real estate market?

If not, read these stories of Raju of Hyderabad!

His lust for land seems to have been Ramalinga Raju's undoing.

Hailing from an agricultural family, for whom land was everything, the Satyam chairman went on to create a multi-billion empire in a span of just 20 years. This was a remarkable feat for a first generation entrepreneur but he could not overcome the lure of land. And that that led to the collapse of his empire.
To read more, please, visit - Hindustan Times

Mega land deals did Ramalinga Raju in

According to information pieced together by DNA from sources, Raju told the police that property deals had squeezed all his resources. Like any other realty player, Raju, too, joined hands with friends and relatives tobuy large chunks of real estate. - DNA Money

1 comment:

  1. How many people are ready to purchase flats worth 40 -50 lakhs in current slowdown? Very few. This indicates that the big brand name in Pune realty "Paranjpe" is clearly cheating people. They will use this money till the time they get new person who books the flat. This will happen in next real estate boom. Till the time its only "wait" in the faith of those who booked. Is the builder going to pay the interest on the amount till the time he refunds the money to one who cancelled the deal?

    Nanded city people seem to be better in this case. They say that the booking cancellation amount is usually refunded after three months.

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