Thursday, January 15, 2009

MLAs are eyeing 300 plush Mhada flats

Why blame only Raju and Maytas for the land grab ? Here is an example of a legal land scam, where members of all parties will collude to gift each other this precious commodity. Corruption and greed of Indian politicians is at its peak. It is not even two months for the Mumbai attacks where hundreds of Mumbaikars died for no cause of theirs and brave policemen and commandos battled terrorists with obsolete weapons. Instead of compensating the family members of the slain citizens with a place to live these uber corrupt politicians want to rape and pillage any asset which comes their way.

These guys are no better then Ghazni or Genghis Khan and deserve to be taught a stern lesson. I appeal to everyone to forward this message to as many people, blogs, newspapers and TV channels and stop these looters at their doorstep

DNA reports.
Mumbai: In a move likely to anger hundreds of prospective flat buyers wanting affordable housing, the state government is considering a proposal to allot 300 newly constructed flats in a posh area at Lokhandwala complex in Andheri (West) to housing societies of past and current legislators.

Keeping this proposal in mind, the Maharashtra Housing and Area Development Authority (Mhada) kept aside 300 flats and did not bracket these with the 686 flats released for sale this week.

Mhada has constructed 1,088 flats of two and three BHK admeasuring over 800 sq ft carpet area in the sole high income group residential complex at Lokhandwala costing Rs44 lakh and Rs57 lakh respectively -- a steal as the Mhada prices are about one-third the prevailing rate quoted by private developers in the area at Rs12,000 a sq ft.
Sitaram Kunthe, state housing secretary, refused to comment.

However, HK Jawale, chief officer of Mhada's Mumbai board claimed that construction is still on at the HIG colony.

The legislators' demand is reportedly being spearheaded by two cabinet ministers. The ministers claimed that the government had earlier allotted land in survey number 161 at Versova to housing societies of legislators. But since the land fell under coastal regulation zone, buildings could not be constructed.

In lieu of the flats at Lokhandwala, the government has initiated the process to change the reservation of land near Bhakti Park at Wadala from no development zone to a residential use, said an official.


Anonymous said...

The country is being run by a bunch of greedy jokers.

Daily Layoffs is US on this site:

Anonymous said...

Massive layoffs are coming in India around March 2009. And a lot of desis would also be coming back home by June 2009. It is going to be a massive supply if IT and FInance people in India without jobs. This will cause salary drops as people would be willing to accept whatever they get to survive.

And guess what, the RE industry will come down by 50% in 5-6 months. FLats selling for 80 lacs would be selling for 40-50lacs and then also there would be no buyers.


Anonymous said...

Hi Vik,

Is it possible to have some kind of online petition from this Blog. This move is at the instigation of the State Government. Whom does one appeal to the central govt.? Or does one try to do a RTI/PIL on this kind of move and expose it over the national media?

How do we slaughter these pigs?


Anonymous said...

Petitions don't help in India. People are aware of what is happening at all levels. Power and money wins. TOI is acting like the mouthpiece of these builders, what would media do?

The only that will slaughter these pigs is time. As time passes and RE crashes further, they will soon be out begging on the streets.


Anonymous said...

Real Estate Lobby is big time in denial mode. The Central Bank, Government is helping these blood suckers at the cost of future of gullible home buyer.

TIO Article - Builders bury the promise, keep the cash

Property Prices Are Still High Despite Banks Offering To Recast Loans

Sangita Mehta MUMBAI

THE banking system’s plan to bail out cash-strapped housebuilders by restructuring loans to help them survive a market slump is under strain, as builders have gone back on their promise to sell properties at reduced rates, according to senior bankers.
Some bankers have complained to the central bank that after making use of the relaxed rules, which permit banks not to classify loans to real estate firms as bad loans the moment they are restructured, builders continue to hold on to artificially-inflated prices.

Last December, the Reserve Bank of India relaxed a key rule on restructuring bank loans to the real estate sector as a one-time measure to help developers cope with falling demand and a credit crunch. The relaxation was to end in June this year.
During a meeting with RBI deputy governor Rakesh Mohan on Thursday to discuss monetary policy issues, a senior banker pointed out that the RBI’s relaxation had provided builders with an opportunity to hold on to high property rates that were quoted before the slump. “There is a feeling among bankers that builders are choosing to retain assets on their balance sheets rather than reducing prices and getting rid of assets,” said one banker, who asked not to be named. “In other words, to overcome the liquidity crisis, builders are pushing for restructuring of loans rather than selling off assets or reducing property prices.”

Anonymous said...

How promising is economic stimulus?
Is it going to turn the whole economy? If it have such a power why it is not showing any sign of improvement. Stimulus only creates a short term effect of improvement & improves stats. It’s a same as distributing free color TV or electricity to farmer. If free electricity didn’t improved the farmers’ condition in last 20years, how come a 2 stimulus package will show you improvement? Even after getting the steroid of stimulus still world economy is deteriorating every day. The stimulus is not addressing cause of weakness.
When there is no solution to root problem, it’s a madness to discuss recovery. Even after any solution, recovery will be gradual & will take years to reach to normal level.

How much will be the impact of interest rate on EMI? When people don’t have job salary got reduced by 10-30%, it doesn’t matter what is interest rate.

After Q4-2008 data, IMF has downgraded the world’s growth forecast to zero & India’s GDP to 6%, which is worse than expected.

Agree this is not soothing to your eyes but you can hear your sweet sermons in CREDAI,PBAB etc conference.

So Guys let it fall then only pick up, minimum 50% price cut is guaranty.


Anonymous said...

India's GDP will be downgraded to 4% soon.

Bharat said...

Hi HB,

My motive was to focus this conversation on the topic. The corrupt politicians and what to do with them. Is it inevitable and we should just forget about these jokers who milk us every which way?

Or is there any way, even in a small way by which we can initiate a voice of dissent?


Anonymous said...

We'll be suppressed. It is not only in India but even in US. Bush and his cronies have destroyed US to the extent that it will take 8-10 years to get it back to normal.

Nothing helps. You put a petition, do a movement etc. it would all be forgotten in a few days.

The corruption in India can only be cured by strict dictatorial laws and shoot at sight laws like Saudi Arabia for corruption. Otherwise, it'll keep going like this for another 100 years.


Anonymous said...

The fact of the matter is that the builder lobby which got super abnormal profits for 3 years now is using this money to change the law to suit them

take the repelling of the ULCA
Or SRA schemes or the Dharavi redevelopment scheme

These are such super fraud schemes

The government babus are corrupt that every one knows.
They park that black money in real estate.

What can be done?

Anonymous said...

There is no hope for us; the common man, in this country. We have been and will always be fucked! People are getting worse everyday. We are governed by criminals and pimps, where the common man has no basic rights. Our country has been sold to terrorists by politicians(which is why terrorists like Qasab and Abu Salem continue to live in harmony, lest they spill the beans on the politicians who have sold their mother (India) to them). The people showed some unity in the beginning but soon after the New Years Eve celebrations, they have pissed their enthusiasm out in the form of liquor and merriment! There is no hope. For those who have no blinkers, lets pray for a quick end to this miserable existence. Thank you, my countrymen.