Ultimate Realty Show

The slick,racy tale of how K.P. Singh turned a defunct business group into the biggest real-estate empire of India

The harsh reality of the realty business is that you cant make an omelette without breaking an egg. But K.P. Singh,who rebuilt his father-in-laws defunct business group Delhi Land and Finance (DLF) into the biggest real-estate empire in India,maintains he circumvented no laws. He succeeded in changing existing land laws which prohibited private players from land development. It is largely thanks to Singhs vision that a dusty,sleepy,small Haryana town,Gurgaon,emerged as a sprawling,bustling,high-rise suburb of Delhi.

To execute his ambitious plan required guts,determination,staying power and extraordinary networking ability. Revenue officials,senior bureaucrats,farmers,successive Haryana chief ministers and even the late prime minister Rajiv Gandhi,all seem to have been charmed,cajoled,or coerced by Singh. Today the land he bought from farmers at Rs 500,000 an acre costs more than hundred-fold.

The biggest stumbling block to Singhs grand project came from Bansi Lal,thrice chief minister of Haryana. He made Singh a concerted target of attack and moved heaven and earth to prevent his scheme from taking off. Ironically,Singh,a Jat like Bansi Lal,started off as a great favourite of the chief minister. But Singhs one-time benefactor turned into a bitter foe. Singh traces the genesis of Bansi Lals longstanding antagonism to a glitzy dinner party which he hosted for Charles Lachman,co-founder of Revlon. The puritanical chief minister,who had invited himself to dinner that night,felt out of place,particularly when one tipsy guest suggested patronisingly that he could put in a good word for him with Sanjay Gandhi. Unknown to Singh,who was busy looking after his jet-setting New York guests,an offended Bansi Lal walked out of the party in a huff.

At one stage,things got so bad for DLF in Bansi Lals Haryana that its offices were raided,and arrest warrants issued against Singh. But to counter one obstreperous Bansi Lal,Singh had lined up a number of powerful well-wishers. From Charan Singh to Bhajan Lal,from Devi Lal to Om Prakash Chautala,they all seemed to be on his side. Rajiv Gandhis office helpfully tipped off Singh about Bansi Lals plans to arrest him. Singhs friendship with Gandhi,who put pressure on Haryana chief ministers to amend the states outdated land regulations,was fortuitous. He bumped into Rajiv Gandhi in a remote Haryana village where he was sitting on a charpoy trying to persuade villagers to sell their land. Gandhi had stopped because his cars radiator had overheated. Gandhi took a personal interest in Singhs plans for Gurgaon. Months later he was prime minister of India.

Singhs autobiography is not the stereotypical story of a successful businessman. He was neither born with a silver spoon in his mouth nor did he have to work his way up the ladder against great odds. But he was certainly born under extremely lucky stars. Singh was brought up in rural Bulandshahr,his father was a public prosecutor and he was educated modestly,first at a madrasa,then at the local DAV School and the Meerut College. His humble rural beginnings would be an advantage in later years in dealing with farmers whose land he wanted to acquire. Singh even managed to persuade many of the farmers to plough back into DLF the money they got from selling their land.

Things had a way of falling into Singhs lap. He learnt to ride from the best trainers at Rashtrapati Bhavan after the then viceroy,Lord Wavell,took a fancy to him when as a child,he visited the stables where his uncle worked. Singhs riding skills and proficiency at polo,tennis and shooting helped him to gain entry to the posh county set in Coventry when he was in Britain studying to be an aeronautical engineer. A pretty British heiress fell in love with him,but Singh eventually returned to India to join the Indian cavalry.

The handsome,athletic army officer was considered a suitable match for Chaudhary Raghvendra Singhs beautiful daughter,Indira. Raghvendra Singh,the legendary founder of DLF,was responsible for developing,reportedly with the encouragement of Delhi strongman Chaudhary Brahm Prakash,numerous post-Partition colonies in the Capital,including Greater Kailash,South Extension,Hauz Khas and Rajouri Garden.

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There was nothing in Singhs early years to suggest that he would have a flair for business and end up as one of the richest men in India. In fact,after leaving the army,he seemed for a while more interested in partying and enjoying the good life than work. One morning he was returning home from a party at 5.30 am when he bumped into his father-in-law who was leaving for his morning walk. Another wake-up call was when he was asked to sign away his and his wifes shares in DLF which had been rendered practically worthless once private developers were banned in Delhi in 1960 with the establishment of the Delhi Development Authority. Singh was,however,reluctant to let go of the family firm.

This biography took more than two years. Singh engaged two veteran writers,Ramesh Menon and Raman Swamy,to write his life story. Several others provided inputs. The slick,racy tale makes a good read because it narrates an eventful life and the evolution of the countrys best known realty firm. Even if,as one cannot help suspecting,it is not the complete story. But,then,which businessman reveals all his trade secrets?