Civic issues, Features and Personalities of Navi Mumbai
Real estate Agents are balancing factor of property business in Navi Mumbai and Panvel. The Panvel Post is analysing the role of these agents and understanding how it influences common people in the city.
Agents have become an inevitable part of real estate business anywhere in our country. Due to the recent boom in real estate and its related sectors, Panvel has witnessed a flow of investors, home buyers and even the workers population into the city. Thus various factors make the city one of the most searched for property in the state. The booming real estate business and profits gained from the transactions attracted many people into this field.
Though the business is highly volatile and depends on many developmental, political and social factors, handful amount of profits are gained by agents. Thus many organized as well as unorganized groups and individuals become agents to manage the business. These agents are considered to be the arteries of real estate business in our city. They are the connecting point between buyers and sellers in the business.
With a good understanding on current market, they can easily manipulate the relation between buyers and sellers in the business. Most of the organized agents and organization deals the business with well documentation. But an unorganized agent, who manages the transactions, does not have proper documentation or fixed rate for their job. This leads to many conflicts and problems in the real estate business. Almost all problems or conflicts happening in the field are due to agents and their improper negotiations.
Though they are disturbing factor in the property business, Agents are lubricants for the process including registration and transactions. They are able to manage money transactions in big levels and help clients to make registrations smoothly. Due to their influence in grampanchayats and Municipality, many trust agents to clear their documents or even manipulate transactions. Investors found them very helpful due to their reach into the ground levels of people. Though not organized, agents keep a well-informed inside them.
Majority of registrations happening in the Panvel is highly influenced by corruption in various levels. This comes in form of black money, corruptions in government offices, political interferences. So it is almost impossible for a common man to understand these factors and manage his money comfortably during transactions. Most of the agents are experts and have deep knowledge in corruption. So they help their clients to distribute and manage money transactions comfortably. They know “To whom How much”.
The Panvel Post has interviewed Dozens of agents and many investors to understand issues and problems in real estate business in the region. We acted like home buyers and sellers with many agents to know about their dealings.
One of the important problem came into the sight of the newspaper was the relationship between politicians, agents and big investors. Many politicians are themselves are big investors in the region. Even many advocates are involved in this link. A web created by these people controls the real estate business in the region. Due to their inter relations and communication are encouraging corruption in this region. A real estate agent plays a crucial role in managing this web and its communication to common people.
In every transaction that they are involved, Agents will get a fixed percentage of amount transacted. This amount may change if promised amount of transaction changed, which happens often. If more than one agent is involved in the transaction, then the deal will be more complicated and raise conflicts. Many such problems are often reported from Panvel. It was very interesting to understand how agents manage property rates high above the market rates with home buyers. The same agents manage to present property rates far below the market rates with sellers.
How agents present the image of Panvel to an outsider (potential home buyer)?
They present the qualities Panvel including good roads and its connectivity to other parts of the state. Availability of schools, colleges, hospitals and markets with proper distance these institutions. They present the future developments with absolute confidence. In their words, “Works of new international airport has already started in the proposed site of Panvel”. They also provide exact distance between the airport and property, they wish to buy. One of these agents also said that, “Panvel is the future city even surpassing Mumbai”.
With wrong statistics and information on proposed developments, agents are able to influence many common people in buying properties in Panvel. Half truths provide a huge amount of profit for them. Thus they increase the property prices far above the market rates.
How agents present the image of Panvel to potential property sellers?
They present Panvel as a disputed land for development. They show no possibility for Airport in Panvel due to farmer’s objection. Bad roads and complicated geography are the qualities of Panvel in such discussions. They have no trust in government politicians in the proposed developments. Thus they decrease the property prices below the market rates and gain good amount of share as promised by the buyer. They easily manage between the buyers and sellers and get their job done. But these strategies make heavy losses for common people.
Agents influence in Managing registrations and as a Middle man for corruption.
Registration, transactions, getting loans and documentation in government offices are important parts of real estate business. Agents help clients to go through all these hurdles to buy/sell his property. With a good agent all these documentation and governmental process and smooth, but are difficult for a common man to complete. This is because how corruption plays inside.
Politicians, government servant and advocates, all want extra money in every transaction. So agent plays a role middle man to carry away all these corruptions for them. Most of the property transactions are done in manipulated prices and black money to jump over tax hurdles. Agents can easily manage all these disputes and help both sides to get their money. In any way, common people are suffering; their money is looted by the web of influential politicians, real estate giants and government officials. Agents are unorganized middle man, but are powerful enough to manipulate any sector of this business.
Devashish Mandir, a Panvel based Real Estate agent, said “Being a Real Estate agent involve a lot of risks as well as good profits. They had to deal with all types of people, from government officials, Politicians, real estate giants as well as common people. Only experienced people can stay in this profession, which creates a web of contacts. A good Agent is also an agent for social service. By involving in the business, he is helping people to find homes and help them to deal comfortably with transactions. Thus an agent does one of the influential social services to his society.”
Sonu Maurya, a real estate expert in Panvel, said “With no doubt, agents had a great influence in real estate business. They can do many changes and help common man. But being puppet in hand of politicians and greedy for money, many manipulate the business. Knowing or not knowing, many times they encourage corruption, black money. Though it is dangerous, agents help people to find their home safe and comfortably.”
K. P. Eapen, a resident of Panvel who recently sold his property which was brought a year a year ago, said “We cannot avoid or ignore agents in the process of Real estate business. They have their own market and styles to follow. They have become very influential and can easily manipulate any kind of documentation or transactions. They have good connections with corrupt politicians, who block our documentation process for money. Only such agents can bring us out of the mess. Agent is very experience and encourages corruption in this way.”
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