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Thursday, 18 October 2012

Vadra bubble in Bikaner too. land prices jump 40 times

Posted on 23:10 by Unknown
No one can make up these stories. Truth is stranger then fiction. Here is another article on how land prices in Bikaner a medium sized town in Rajasthan jumped 40 times after Robert Vadra started his investments. It looks like Robert is responsible for the misery of Indian's when it comes to housing.

DNA report is below. Full article is here


In a flurry of deals between June 2009 and August 2011, Robert Vadra purchased at least 20 plots of land collectively measuring more than 770 hectares in Rajasthan’s Bikaner district, in a region that would see prices spiraling soon after.
A clutch of investors, including Vadra, apparently privy to information on upcoming industrial projects in the vicinity, reaped huge profits with land values appreciating by up to 40 times since 2009.
Click here to read the list of plots
Data from the office of the registrar in Bikaner shows 20 properties Vadra purchased through companies, including Real Earth Estates Pvt Ltd, North India IT Park Pvt Ltd, and Skylight Realty Pvt Ltd. All the deals were executed on his behalf by Mahesh Nagar, brother of Haryana Pradesh Congress Committee member Lalit Nagar. These companies together invested Rs2.85 crore in barren land here during this period.
“Vadra clearly misused his position as the son-in-law of Sonia Gandhi,” said Devi Singh Bhati, six-time MLA of the Kolayat tehsil where most of the Bikaner deals took place. “The land was purchased either in the knowledge that industrial projects would be announced, or circumstances were created to bring projects to the area.”

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