UP barons on a roll
chadha, jaypee mop up acres
THE most powerful businessmen in UP are spoken of in hushed tones. Everybody is aware of their clout within the government and none dares to mention it. Insiders say they are the main strategists in Mayawati’s palace, and her coterie knows their plans and moves. Among other things, they are getting prime land allotted to their companies through tender processes. Liquor baron Ponty Chadha of the Chadha group and JP Gaur of the Jaypee group are among them.
Chadha has just bought 150 acres of prime land near Sector 31 in the heart of Noida for Rs 6,000 crore – payable in a decade to the UP government. Property experts value the land at four times what it has been sold for but, since a tender process was followed, none can question it. The Jaypee group has been allotted most of the chunks at Noida and Yamuna Expressway, and Noida is splattered with hoardings advertising the group’s proposed housing complexes. Chadha and Gaur both are careful not to live in UP. The former lives in Gurgaon in a recently built 25-acre farmhouse where visitors have to leave their vehicles at the gate and are driven in his Merc to the house.
chadha, jaypee mop up acres
THE most powerful businessmen in UP are spoken of in hushed tones. Everybody is aware of their clout within the government and none dares to mention it. Insiders say they are the main strategists in Mayawati’s palace, and her coterie knows their plans and moves. Among other things, they are getting prime land allotted to their companies through tender processes. Liquor baron Ponty Chadha of the Chadha group and JP Gaur of the Jaypee group are among them.
Chadha has just bought 150 acres of prime land near Sector 31 in the heart of Noida for Rs 6,000 crore – payable in a decade to the UP government. Property experts value the land at four times what it has been sold for but, since a tender process was followed, none can question it. The Jaypee group has been allotted most of the chunks at Noida and Yamuna Expressway, and Noida is splattered with hoardings advertising the group’s proposed housing complexes. Chadha and Gaur both are careful not to live in UP. The former lives in Gurgaon in a recently built 25-acre farmhouse where visitors have to leave their vehicles at the gate and are driven in his Merc to the house.
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