Indian property developer in UAE buys car license plate for $9M

Several car owners are ready to pay a premium to get single-digit (or unique numbered) license plates for their luxury cars.

In India, cars with such numbers belong to politicians, businessmen, high profile government officials, and it gives an impression that the car belongs to a VVIP. Such numbers are a rage around the world.

So how much do you think these single-digit numbers cost?

Indian property developer Balwinder Sahni, based in the UAE, reportedly paid $9M to get a couple of single-digit plates, which are a rage in the UAE.

Sahni owns six Rolls-Royces, and two of those luxury cars have license plates bearing one solitary number, and Sahni paid $9 million for those license plates at a government auction (an Arab businessman had paid around $14.4 million for the No. 1 plate in Abu Dhabi in 2008.)

These high figures indicate the desire of the UAE elite to get these coveted single-digit plates, As a result, big business has sprung up around these types of license plates.

But is it not a waste of money (spending so much on car license plates)?

Here’s what Balwinder Sahni, who describes himself as a simple man (when talking to CNNMoney) has to say.

“I can’t believe people are giving comments without knowing the type of person I am. There’s no income tax in Dubai and what I pay for the plates will likely go to charitable and infrastructure endeavors”