Mum-bhais chasing defaulting A’bad realtors
When the going gets tough, the tough get going. But in Ahmedabad, some big-shot realtors, who till recently ruled the roost, are scampering for cover.
For hot in pursuit are Mumbai’s underworld dons, apparently hired by Mumbai-based moneylenders to recover money they had lent to ambitious Amdavadi realtors. According to sources, the global financial meltdown and resultant bloodbath at Dalal Street had led to a severe liquidity crunch for Ahmedabad realtors. Realtors, who had overstretched their resources on borrowed money, are now finding themselves in a soup.
While one major player, who has a mall on SG Highway, is learnt to have made huge losses in oil futures, a stockbroker-turned-realtor from west Ahmedabad and a realtor from Chandkheda are also finding themselves being chased by bhais, sources added. Some of the defaulting money-bhais are travelling abroad, but it is difficult to ascertain whether it is just a pre-Diwali break or to beat the heat from bhais.
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically to your feed reader.
Comments
No comments yet.
Leave a comment