Rumm
asked
R.V. Raman:
The scam in Fraudster is fascinating. I want to know if such gross overvaluation takes place in real life.
R.V. Raman
Good question, Rumm.
You may have read several times in the newspapers about gross undervaluation of property in related party transactions, especially in real estate related scams. Similar overvaluation also happens, but as a part of more complex deals, like the one described in the novel. These are not always reported in newspapers.
3x or 5x overvaluation is not unheard of in the real estate sector, particularly in suburban and rural locations, where guideline values are inaccurate/outdated.
You may have read several times in the newspapers about gross undervaluation of property in related party transactions, especially in real estate related scams. Similar overvaluation also happens, but as a part of more complex deals, like the one described in the novel. These are not always reported in newspapers.
3x or 5x overvaluation is not unheard of in the real estate sector, particularly in suburban and rural locations, where guideline values are inaccurate/outdated.
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