[Reader-list] Aggregators and Land Use Change

[Jeebesh]

Vasu (NDTV) has been able to open an intriguing area of real estate growth in Gurgaon. The land aggregator or land assembler create a land mass that is conjoint or at times produced through a state fiat of public purpose. Then it is sold ahead to developers. The ability to work around or change land use (popularly called CLU) becomes crucial. Leverage within policy framework is crucial here. Then comes the various promoters etc. At all stages there are loans that are raised. The end user raises loan to buy the flat or the commercial outlet but that is at the long chain of loans. Around 4 layers of debts are behind each unit that an end users gets into. (see Gurgaon Glossaries at Sarai Reader 09 @ Devi Art Foundation, Gurgaon for an understanding of this process).

http://www.ndtv.com/video/player/truth-vs-hype/truth-vs-hype-the-robert-vadra-dlf-controversy/250610?hp