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Facing Down The Odds


wealthymatters

There is little Kushal Pal Singh hasn’t seen. He built the city of Gurgaon out of nothingness. He also saw it begin to crumble under its own weight.

He almost sold DLF for Rs 26 lakh, but later also saw the value of his shareholding in it climb to Rs1,87,920 crore. Now, it’s declined to just Rs14,701 crore.

In 2007, he was celebrated for bringing India’s biggest IPO.Seven years later, he stands condemned by Sebi, for failing to disclose material information in that very offer. He has also seen both friends and foes occupy high places.

He is among the first who had the vision of a large-sized modern building that is as good as any in developed countries. Now, cash flow questions are being asked about many of his ongoing property projects.

Consistent with the title of his autobiography ‘Whatever the Odds’, his ride is neither smooth nor straightforward.

When KP Singh ventured into Gurgaon in the late seventies, no one would have imagined what it would become over the next few decades. Good fortune and intent and perseverance all played a part. Read more of this post

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Pros And Cons Of Buying A Flat In A Building Without A Registered Housing Society


wealthymatters.comThere are many flats available in buildings where the developer has not yet handed over the building to the flat owners despite its completion many years ago. These flats are often in mint condition and available at a discount.Bank loans for such flats is also a possibility.So it is always tempting to buy one of these.But do proceed with caution.

First find out why the builder has not transferred the possession legally to the registered housing society.There could be various reasons for this, the  simplest being that no registered housing society has been formed yet.In such a case it is a fairly simple case of buying the flat and taking the initiative to form a housing society and registering it. Read more of this post

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