Emaar Properties along with state run APIIC or Andhra Pradesh Industrial Infrastructure Corporation came under the purview of CBI for alleged involvement in Emaar Properties scandal or Boulder Hills township controversy in the state capital of Andhra Pradesh, Hyderabad. The infamous Emaar Properties scandal centres around alleged undervaluation of land in a bid to dilute public stake by the global giant. Though the allegation is far flung and lacks substance, Emaar has offered full co-operation to the state investigating body, Central Bureau of Investigation (CBI). This lead Emaar CBI to unearth several facets pertaining to the case which were earlier ignored or disregarded besides clearing the name of the real estate giant, Emaar Properties and Emaar MGF combined. With ongoing investigation, it is rapidly emerging that the culprit was altogether a different entity while the global developer was just a scapegoat in the mother of all scams. It has been stated that Emaar is moving heaven and earth to clear it name from this false allegations and condemns such lowly acts of parties indulging in such petty acts.

Emaar started its stint in Indian market in 2005 with the deregulation of the Indian foreign trade policy. Bringing the largest FDI in the real estate sector of that time, Emaar entered into a joint venture with prominent market leader MGF Development Limited forming Emaar MGF. Emaar MGF stormed the Indian real estate sector with multitude of residential townships, technology parks, malls, business hubs and several other commercial complexes. Major Indian cites including the capital city New Delhi, Haryana, Kolkata, Tamil Nadu, Maharashtra, Kerala and Andhra Pradesh were targeted. Fresh concepts, innovative designs, superb facilities and timely delivery made the global brand a reputed household name in the country. Emaar’s glory can best be seen in the superb world class Commonwealth games village located in the very heart of the national capital. Neighbouring Gurgaon too has seen several contemporary and swanky residential as well as commercial properties that are unique designs of the master builder, Emaar MGF.

Today, leaving behind the traces of Emaar Properties scandal, Emaar Properties and Emaar MGF combined has taken up several high-end projects throughout the country. With its residential properties receiving enormous success, Emaar has now announced the grand plan to venture into the thriving retail and hospitality industry. As a result of Emaar’s grand visions, Kolkata and Delhi might see its first luxurious 7 star hotels in the near future. Another big step taken by Emaar towards infrastructural development of the country is redefining the standard of lifestyle in Tier-II Indian cites. Altogether a big risk but Emaar has no qualms of the project being a success given its legendary building capabilities and precision. And no wonder, the prestigious project Gomti Greens in Lucknow was a huge success. Adding another feather in its so unique cap, Emaar Properties and Emaar MGF together forges ahead in the vast river of success tackling anything and everything that hinders its progress with absolute transparency.

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 Emaar Properties Scandal.

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 Emaar Properties Scandal (http://goarticles.com/article/Emaar-Properties-Scandal-Hits-a-Rock-Bottom-As-Emaar-MGF-Reaches-New-Heights/7457084/)

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 Emaar Properties Scandal.

Category: Real Estate
Keywords: Emaar Properties Scandal, Emaar CBI, CBI Emaar