Word: lands
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Dates: during 2000-2009
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Singh's plan centered on Gurgaon, a dry, scrubby plain in the state of Haryana, near New Delhi. If he could buy enough land and then convince authorities to change their regulations preventing companies from acquiring farmland for commercial use, perhaps he could outdo his father-in-law's success. By 1981, though, the company had acquired just 40 acres and failed to change the law. Frustrated and despondent, he sat beside a well one scorching summer day. What the heck can you do in this place? he recalls wondering...
...built some of India's first modern commercial structures, including offices for General Electric, Swedish cell-phone maker Ericsson and Swiss food giant Nestlé. The company also built luxury apartments and houses, including a residential estate incorporating an 18-hole golf course designed by golfing legend Arnold Palmer. Land that cost Singh as little as $65 an acre now sells for about $4 million an acre. In the run-up to its IPO, DLF has been on another buying spree and now has holdings in 31 cities...
...obviously a family-run operation, must execute its ambitious agenda amid growing scrutiny, a by-product of going public. Critics say DLF, like the Indian property market itself, isn't transparent enough. There are questions surrounding the true value of DLF's recent land acquisitions, in part because 35% of the land on its books is not owned but under "agreement to purchase," according to IPO documents. Sydney-based Macquarie Research criticized the fact that more than half of DLF's land is in New Delhi, Gurgaon or Mumbai--where, some analysts believe, growth will lag smaller cities...
Religious pilgrims were the first to come here, in the 10th century. In more recent times, golfing pilgrims have flocked to St. Andrews to pay homage to a stretch of weather-beaten land on the edge of the North Sea where the game was invented 600 years ago. When they set off down the first fairway of the Old Course into the prevailing wind, they walk with heads bowed...
...fake "Nong Duc Manh blog," for instance, features a post on corruption that states: "Corruption is the desire of Vietnamese officials." Similarly the blog attributed to "Nguyen Minh Triet" on July 6 posts an entry chastizing state-controlled media for "not reporting the truth" of a month-long land-rights protest of hundreds of people in Ho Chi Minh City last month and "ordering" government censors to lift blocks on anti-communist websites...