Big deals in the times of recession (Indian Express, Delhi)
Our Director Mr. Prakash Natarajan was quoted in an article in the Indian Express, Delhi:
For every deal that goes through, there are several other big-ticket deals that fall through, says Prakash Natrajan, director of Mumbai-based brokerage firm Realty Gyan, citing the case where actor-turned -parliamentarian Vinod Khanna paid an astronomical sum as token money for a Citibank property in South Mumbai, but then changed his mind about buying it.
There is no fixed pattern to very expensive deals as they take a long time to fructify, and a lot of market manipulations go into such deals making them far more expensive than they should be, says Natrajan. “Why these properties are priced so high remains a puzzle,” he adds, “but yes, there is a lot of snob value attached to these big ticket land deals.”