Congress Vice-President Rahul Gandhi made significant gains in a couple of real estate transactions between 2005 and 2010. The member of Parliament (MP) purchased two shops in MGF Metropolitan mall in Delhi's Saket area during the tenure of the first United Progressive Alliance (UPA-1) government and sold it during the term of UPA-II at thrice the cost price, records reviewed by Business Standard showed. The shops became a subject of a political controversy last week after Bharatiya Janata Party (BJP) MP Kirit Somaiya linked these to the alleged irregularities in AgustaWestland helicopter deals.
Gandhi bought these shops for Rs 1.47 crore in December 2005 from an Emaar MGF group firm and sold these in February 2010 for Rs 5.6 crore. An arm of Mumbai-based Welspun group bought the shops helping Gandhi realise a gain of Rs 4.13 crore or 280 per cent over four years and two months. The returns were impressive given that the property market took a steep downturn after peaking around mid-2008.Read more.
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