Submitted by: Pankaj Wahal

There may have been a lot of scandals in India but the alleged scam in Hyderabad which brought undue discredit to the world s leading real estate firm, Emaar, seems to be the most disturbing of them all. It is not the allegations which are disturbing, it is the nature of the controversy which is most disturbing. Right from the word go, it appeared that Emaar MGF scam or Emaar properties scandal was the mastermind of people who had an agenda against the real estate giant. The recent investigations have revealed what everyone was suspecting, Emaar may have had no role to play in the alleged Emaar MGF scam or Emaar properties scandal. It is not rare to see innocent parties being embroiled in controversies but this particular case has far reaching implications as the real estate market in India is still far from maturity and such allegations against international players can only discourage big players from entering Indian real estate market. This is counter productive as the need of the hour is to encourage international real estate players to pump in Foreign Direct Investment in the struggling real estate market of India.

The alleged Emaar MGF scam or Emaar properties scandal has since then moved out from the media focus and the real estate giant is focusing on its new projects but the impact that it has had on the nature of Indian economic set up has been grave. It is in everyone s best interest that the investigations are suggesting that there was no wrongdoing by the real estate giant and its local partner in the alleged scam and the industry seems to have been welcoming the findings. Emaar MGF started its operations in India as far back as the year 2005 when Emaar properties, a Dubai based real estate firm, committed an investment of half a billion US dollars while entering the market. The Emaar MGF scam or Emaar properties scandal notwithstanding, Emaar MGF has witnessed a steep growth in the local market and has earned accolades for its transparent and professional style of work. A country which is marred with delays and a lackluster approach to deadlines, Emaar MGF continues to be the benchmark for all local and international firms when it comes to creation of world class infrastructure within the stipulated timelines of the projects.

In the Indian market, Emaar has so far not undertaken projects which can be compared to their Dubai projects like the world s tallest skyscraper by the name of Burj Khalifa or the world s biggest operational mall known as the Dubai Mall. Having said that, keeping in mind that the Indian market is still evolving, the projects undertaken by Emaar MGF in India are stupendous by the standards of Indian real estate sector. One of the finest examples of Emaar MGF projects in India has to be the famed Commonwealth Games Village in New Delhi which was to be constructed in a very short period of time. Considering it was to host the athletes from various countries participating in the commonwealth Games of 2010, it was a matter of pride for India to provide the best possible facilities to athletes. No other real estate firm could be trusted to deliver in such a short period of time without compromising quality and Emaar MGF stepped forward and the rest is now history.

About the Author: The author loves to write small, informative articles on topics related to Real Estate and Travel. In this article, he is expressing his thoughts regarding

Emaar MGF Scam

.

Source:

isnare.com

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