Emaar Properties has been co-accused along with APIIC or Andhra Pradesh Industrial Infrastructure Corporation for undervaluing land in Boulder Hills plots to dilute state holdings in the project. Boulder Hills Township is a luxurious project undertaken by Emaar Properties and APIIC together. APIIC is a state run corporation and has undertaken few developmental projects in the geographical region of Andhra Pradesh. In tandem with the state government’s plan to make Andhra Pradesh one of the best cities in India, APIIC roped in the extensive expertise Emaar Properties for its dream project in Gaichibowli area of Hyderabad. The Boulder Hills Township is the epitome of luxury encompassing world class private villas, apartments, a 5 star resort style hotel and an 18-hole golf course. In due course of time, APIIC was accused of illegal acquisition of lands for the project which it handed over to Emaar MGF. APIIC in turn accused Emaar MGF for breaking rules of engagement as the plots were allegedly sold off at lower prices than agreed with APIIC. In response to APIIC alleged accusations, Emaar MGF has refuted all charges and claimed innocence in the much hyped Property scams, Hyderabad. With full cooperation from Emaar mgf, CBI conducted a full scale investigation. And it is to be noted that no charges has been so far, framed against any Emaar or Emaar MGF officials.

Besides Boulder HillsTtownship, Emaar has successfully given Hyderabad its first convention centre which is the largest of its kind in the entire country. The 285 room, Novotel Hyderabad is also a creation of Emaar properties. One of the most reputed builders in the Middle East, Emaar Properties has a reputation to withhold and has successfully done so with the eminent structures that it is unfolding in major Indian cities. It all started in 2005, when Emaar properties of Dubai joined Indian MGF Development Limited in a joint venture worth 4 billion US $, the largest capital outlay in the Indian real estate sector at that time. In no time, Emaar MGF announced several projects in key Indian cities including the capital city of Delhi, gurgaon, Maharashtra, Karnataka, Andhra Pradesh and many others. The initial focus was on residential complexes pertaining to villas, town houses and apartments. The innovative concepts and splendid architectural designs were a huge hit with the Indian mass and armed with such overwhelming response, Emaar started capitalising a host of other areas like hospitality & retail, education and healthcare, and financial investment. With strings of technology parks, business hubs and commercial malls, Emaar has embarked on yet another success story in the Indian subcontinent.

Today, Emaar has left behind the Boulder Hill fiasco and has emerged as a force to reckon with on the Indian soil. It has announced the acquisition of prime lands for the finest 7 star hotels in the capital city and Kolkata. Besides hospitality, Emaar has embarked on the arduous journey of Infrastructural development in Tier-II cities of India. It remains to be seen how soon the fairy of success smiles on this grand endeavour of an equally grand developer.

The author loves to write small, informative articles on topics related to Real Estate and Travel. In this article, he is expressing his thoughts about Property Scams Hyderabad (http://www.articlestrump.com/a/emaar-shines-through-alleged-property-scams-in-hyderabad).

The author loves to write small, informative articles on topics related to Real Estate and Travel. In this article, he is expressing his thoughts about Property Scams Hyderabad (http://www.articlestrump.com/a/emaar-shines-through-alleged-property-scams-in-hyderabad).

Author Bio: The author loves to write small, informative articles on topics related to Real Estate and Travel. In this article, he is expressing his thoughts about Property Scams Hyderabad (http://www.articlestrump.com/a/emaar-shines-through-alleged-property-scams-in-hyderabad).

Category: Real Estate
Keywords: Property scams Hyderabad, Emaar mgf CBI