The Emaar MGF Boulder Hills saga started when Nara Chandrababu Naidu was the chief minister of Andhra Pradesh. The government took away land from poor farmers in Nanakramguda in the guise of modernizing the city and gave them a pittance in compensation (which most of them have yet to receive). All this was done under the guise of the British-era land acquisition act, which gives absolute right to the government to snatch any land from the public.
The TDP government and APIIC alloted the land to Emaar MGF under a shady deal. In return, many of the APIIC babus and TDP politicos got prime villas for a pittance. Turn the clock forward and congress government came to power and immediately the YSR family and friends circle started looking for immediate sources of revenue. Emaar stake was reduced to 26% and more congress politicians and bureaucrats landed with prime villas in Emaar Boulder hills for a pittance.
In the end, it turns out that the state government didn't make a penny from this massive land giveaway to a Dubai based company. The farmers lost their livelihood. The politicians and bureaucrats made a killing by getting almost free prime land in the middle of a posh golf course. Emaar made a killing on golf memberships, villas, and apartments. The money went to Dubai.
Who loses? -> The people of the state of Andhra Pradesh and the poor farmers whose land was grabbed by the government.
Who gained? Telugu Desam Party politicans, Congress politicians, bureaucrats, and most of all Emaar of Dubai.
What is going to happen? Nothing. There will be a farce investigation. The same babu- B.P. Acharya- who was hand in glove with Emaar in reducing APIIC stake is supposed to conduct an impartial investigation into the scam. We all know what the outcome will be of this investigation.
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