In 2005, Emaar Properties partnered retail player MGF Development Limited in the Indian real estate industry forming Emaar MGF. As predicted by the pundits of real estate, the joint venture created a ripple upsetting the market strategy of several key domestic market players. Emaar made its entry in India when several foreign investors were making a beeline for the freshly opened Indian market. Targeting the real estate sector which was growing at the rate of 20% and the residential sector making 19% growth, Emaar MGF started with the residential real estate sector. Slowly it started dominating not only the residential but every aspect of real estate which includes commercial, retail and hospitality sectors. One of the major achievements is the successful completion of Commonwealth Games village in the heart of the nation, New Delhi. It not only provided enormous comforts to international players during CWG but is now currently, the address of several elite citizens of the state. Emaar MGF came to be recognised as a company that delivers what it promises among the masses. Besides New Delhi, Emaar MGF started scores of projects in various others Indian cites like Jaipur, Andhra Pradesh, Tamil Nadu, Haryana, Punjab and Maharashtra amongst other.

In Hyderabad, Emaar joined state run APIIC or Andhra Pradesh Industrial Infrastructure Corporation to develop a luxurious integrated community in Gaichibowli. The township of Boulder Hills was envisioned as the pioneer of luxury living concepts was to have private villas, apartments, community centre, shopping mall and even a 5 star hotel. Each unit within the boundary of the gated community was designed and hand crafted to meet international standard. Moreover, the panoramic views of the picturesque 18-hole golf course added a zing of an upscale neighbourhood in the very heart of the city. This project came under the scanner as allegations were made against the state developer for wrong acquisition of land for the project that it moved to Emaar MGF for development. However, instead of the state run corporation Emaar MGF became the target of media and local politicos alike and the controversy was christened as Emaar Scam. Although Emaar scam accused, the real estate developer has sided with the law and is giving all support required to clear its name from the scandal, after denial of any wrong doing. Emaar CBI successfully unearthed several facts that were earlier not paid any attention, thus clearing the role of the real estate developer in the case. With investigations ongoing, no charges have been filed against Emaar scam accused Emaar Properties or Emaar MGF officials and Emaar CBI continues to cooperate.

Besides the ill fated project of Boulder Hills, Emaar has undertaken several other successful ventures in the city of Hyderabad such as the 5 star Novotel Hotel and Hyderabad International Convention Centre (HICC), the later co-developed with APIIC. Leaving the ghost of the scandal behind, Emaar MGF has bid and won several mega projects all over the country. It has even taken up the daunting task of developing Tier-II Indian cities unmindful of the challenges which had discouraged a number of key players in the Indian market. From commercial complex to seven star hotel, Emaar is fast transcending into the top hierarchy of developers which can be trusted with blind eyes.

The author loves to write small, informative articles on topics related to Real Estate and Travel. This article is about how Emaar scam accused has extended its full cooperation to CBI in Emaar scam.

The author loves to write small, informative articles on topics related to Real Estate and Travel. This article is about how Emaar scam accused (http://www.isnare.com/?aid=1830746&ca=Real+Estate) has extended its full cooperation to CBI in Emaar scam.

Author Bio: The author loves to write small, informative articles on topics related to Real Estate and Travel. This article is about how Emaar scam accused has extended its full cooperation to CBI in Emaar scam.

Category: Real Estate
Keywords: Emaar scam accused, Emaar CBI, CBI Emaar