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 CWG Scam few details

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Join date : 2009-04-05

PostSubject: CWG Scam few details   Wed Dec 08, 2010 8:11 pm

CWG scam of Rs. 2,100 crore gift
EMAAR MGF contract with GoI/DDA for CWG village
• Total construction 20,91,525 sq.ft.
• Total construction cost
@ Rs,2000/sq.ft. (maximum) Rs.400 crores
• Constructed area/flat available for sale to
• DDA 13.44 lac sq.ft.
• EMAAR MGF 6.97 lac sq.ft.
• DDA’s contribution/payment to EMAAR MGF –
• Cash paid Rs.766.89 crores
• Gift of constructed area/flat 6.97 lac sq.ft.
• Sale price/market value of constructed area/
Flat (EMAAR’s share) – 6.97 lac sq.ft.
@Rs.25,000/sq.ft. Rs.1,750 crores
• Net gift/benefit from Govt. of India/DDA to EMAAR MGF –
Sale price/market value of constructed Flats Rs.1,750 crores
Less: Total construction cost Rs. 400 crores
Rs.1,350 crores
Add: Cash payment by DDA Rs. 767 crores

Net benefit to EMAAR MGF Rs.2,117 crores
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