In this new series, I would focus on the latest trends in real estate, properties, home improvement sphere. I will try to fetch trends from across major markets across the world, but my focus will be on India, and specifically on Mumbai because that is MY city.

OK. When I think about trends in real estate/ properties, the first thing that comes to my mind is that of the BROKERS - the real estate brokers. These are those kind of species who make money for doing little, or practically negligible. I have always wondered how they make so much money! They charge at least 1% of the total cost of the apartment/ home/ flat/ shop/ any property they help in selling (or even giving on rent). I agree that they have references and leads and can roam around for days together (along with prospective clients of course). But I simply fail to understand what additional work they do…

Most of these species are rude and arrogant. They believe that they are THE kingpins of the real estate, without which no one can buy/ sell any property. They treat rich people differently and they simply do not pay much heed to middle-class people (buyer/ seller). There have been reports that many of these brokers have underworld connections and are involved in extortion. They will simply roam around the city showing prospective clients one flat or the other. They will hide important details - like previous owners, if any, of the property; how the rights of ownership have been transferred, etc. They do little work and most of the trouble is taken by the prospective clients. They why should we pay these brokers? My main point here is: Why do we need these brokers?

So the newest trend which I am seeing nowadays is Broker-free deals. There are many customers who do not want to approach a broker, just because the service provided and the price charged are not matched (price is often exorbitant as compared to the service provided). And the best part is, even the builders (or sellers) are encouraging this move. They often provide more discounts for direct sales.

Mark my words - there will be a broker-free real estate dealing culture - may be within a couple of years from now.

I am personally surprised, shocked, and disappointed by the development that has recently happened at Soham Builders’ project @ Manpada in Thane West - viz., Soham Gardens [read this article]. The person in question is Soodesh More [read this article as well], who I was personally quite comfortable dealing with. I had bought a flat in Fairytale apartment, part of the Soham Gardens complex, through Soodesh only. I had got information about many luxirious flats through this unique location which searches and showcases many luxurious properties and have zeroed in on this flat which I loved at first instance!

It was close to 3.5 years back, when the project was in trouble, but still I bought a flat in that apartment. We were dealing with Soodesh only, and we completely believed what he said to us. He convinced us that the project will be cleared soon and we can move in to our own “dream home”. We were impressed with the cordial and trustworthy behaviour exhibited by Soodesh. In fact, Soodesh had helped me in most of the aspects throughout this dealing and I was convinced that Soodesh is “My Man”…

Though I am troubled by this development, somewhere at the bottom of my heart, I still feel that Soodesh will not get involved in this kind of cheap tricks. He was a flatterer, but he never got involved in illegal activities. He spoke lot of lies but never involved in cheating, that too at such a large extent. My sympathies are with Soodesh, because when it comes to such huge amount (to the tune of Rs 15 crores), anyone’s honesty will shatter. I am sure Soodesh must be in dire need of money which made him take such an extreme step…

I urge the law-enforcing authorities to look at this case from this angle as well. Soodesh was a good man. He lied, he flattered, but as far as I know he was never involved in serious cheating… I wish all the very best to Soodesh.

In my last article, we observed how an economic fraud has been taking shape in SOHAM BUILDERS’ Thane project. The person, whom we can now call a CON-MAN, is none other than one of the most trusted aides of the builder - SOODESH MORE. Soodesh was enjoying trust not only from the builder, but also from many of the customers and staff. He usually was polite and always tried to settle the issues amicably. This quality of his has won him lot of trust from the buyers of residential properties.

I think a visit to the history behind all this story may be of help to my readers. It should be noted that the project under question - FAIRYTALE under Soham Gardens at Manpada Thane West - was under litigation for last 2-3 years. Soodesh was the middleman, interfacing between the builder and the angry, agitated, frustrated customers. He managed both so well that most of the customers actually put in trust and faith in Soodesh. He enjoyed a kind of blind faith! And this was exactly at the center of all this economic irregularity. Since he was blindly trusted, Soodesh managed to SELL THE SAME FLAT TO MULTIPLE BUYERS!

Find below the official communication from Soham Builders urging all its customers to avoid any type of dealing with Soodesh More.

Look very closely at this face. This face may not raise any doubts in anyone’s minds. This face may not evoke any protests. This face, in fact, may make you believe that this person is an honest and trustworthy person. I AM SORRY. BUT ALL OF THE ABOVE IS 100% FALSE…

I am not joking. The person featured in above photograph has duped quite a few investors into buying “illegal” flats. This person has “tricked” the builder for who he was employed with with lakhs of rupees. This person has, as the matter of fact, sold the same flat twice and made lots of “quick bucks”… All this while he was working from his office premises and no one smelt anything…

This person in question is SOODESH MORE. He was employed with SOHAM BUILDERS, a very reputed builder from Thane. Soodesh has been a “loyal” employee of Soham since quite some time, at least more than 4 years… Soodesh is soft spoken, interacts warmly with customers and otherwise, is dressed smartly, sports expensive gizmos, drives swanky cars… In short, he is a perfect package whom everyone can easily trust. He can impress anyone with his soft yet politically correct talks…

But this person is definitely not genuine, not trustworthy, not faithful, not loyal… ANYMORE. I will talk about story of Soodesh in my next post, with an official announcement from Soham Builders. This will prove my point.

Real Estate Leasing business of the Construction Division of Godrej has recently announced its grand foray into IT PARKS with the “Godrej IT Park - P2” As a part of its continuous effort to demonstrate care and respect for environmental preservation, the Godrej IT Park will be a LEED certified Green Commercial Building Project at Godrej and Boyce complex at Vikhroli. Godrej IT Park shall have more than 1.4 million sq. ft. of constructed space with approximately 1 Million sq. ft. of space on Leave & License. It consists of 2 Stilt Levels and 2 podium levels for Car Parking, Building Services and Utilities and 6 levels of Office Space.

“Godrej IT Park - P2″ is a warm shell, multi-tenanted building with exterior walls, landscaping and constructed parking lots. The building is fully enclosed with Electrical Systems and Power, HVAC, Plumbing and Fire fighting, Building Management System, Sewage Treatment plants and backup DG.

Salient Features

1. Godrej IT Park – P2 is located within the large lush green campus of Godrej and Boyce complex
   Provides flexibility and scalability across floors and blocks
2. Option of occupying multiple floors in a single wing or on the same floor
3. Neighbouring with existing large IT / ITES companies within the G&B complex
4. LEED pre-certified Gold rated Green Building with 41 points
5. Ample Car parking space
6. Landscaped Terrace garden