May25, 2018 (C) Ravinder Singh email@example.com
Uncertainty of Projects due to Judicial Interventions, Corruption and Scams are primary reasons for poverty, poor development and polluted environment. Even after 13 years Supreme Court is FUMBLING – Clearly Haryana Government wanted to acquire Large Farm Land at Prime Location On Behalf Of Builders for Commercial Purpose.
‘Residential-Cum Commercial Project could be Worth Rs.50 Cr/Acre But State Government Wanted to Buy Farmland for Just Rs.0.12 Cr/Acre Only’.
I am familiar with the Haryana Government Loot Program in 2005when State wanted to acquire Farm Land on behalf of Builders Like ’10,000 Acres for Reliance*’ and actually sold to Reliance prime land stretching across districts for as low as Rs.2 Lakh/acre when cost of Developed Land in DLF-I was about Rs.2 lakh/Sq.Mt. [Acre = 4000 Sq.Mt.]
*RIL was acquiring 25,000 Acres of Land at just three places, two in Maharashtra & one Haryana for Industrial Townships – even Rs.50 Cr Per Acre was Rs.12,50,000 Cr Projects to be Funded By India – MORE THAN ALL THE CREDIT ADVANCED BY ALL SCHEDULED COMMERCIAL BANKS IN 2005 WHICH WERE Rs,11,52,400 Cr.
Shareholder’s Equity of RIL including Anil Ambani was Rs.1,393 Cr and Dividend Distributed was Rs.1,045 Cr – Just one project was much more than 1000 Times the Equity – 2500 Times Mukesh Ambani Groups promoters holding.
Since 1997-98 India had stable Governments – though RIL Revenue has gone up 45 Times but Dividend growth is barely 3 Times to around Rs.3200 Cr. Why do our Banks fund Company operating at low EARNINGS for Shareholders – 1% or less of turnover?
Apex Court is Familiar with SCAM OF BIG BUILDERS who have taken advances of Rs. Thousands of Crores and Diverted Money to other Projects or Simply Personal Accounts.
Farm Land Acquired for Rs.Lakhs Per Acre, Housing Project Retail Cost is Rs.40 Crores to Rs.150 Crores for Economy Flats to Super Luxury Flats.
In 1974, I worked in Bharat Steel Tube – it was built on 50 Acres of Land, Zenith Steel Tube was built on about 20 Acres but similar Jain Steel Tube Plant in Ghaziabad Industrial was built on just 2 Acres. PSU Steel plants acquired 10 times more Farmland or Forest Land than required.
Obviously SC was expected to Direct States & Banks to FUND MANAGEABLE & REALISTIC PROJECTS – Maximum 5 Acres At A Time than 229 Acres that requires Rs.10,000 Cr Investment in Hissar, a small town.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, ND -110016, India. Ph: 091- 8826415770, 9871056471, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects