When Khosla Ka Ghosla becomes your Ghosla

Remember the 2006 comedy drama, Khosla Ka Ghosla? As Mr. Khosla, a middle-class family man struggles to get back his land from the illegal takeover by a land shark, the film takes us on a rollercoaster of events and emotions, much like life. In fact, come to think of it, Khosla Ka Ghosla is the reel-life incarnation of quite a few real-life stories. It is an accurate representation of India's growing real estate rackets and ugly property discords.

In the 21st century, India is one of the world's fastest growing economies, and the real estate industry is one of the major driving forces behind this success. However, the burgeoning real estate market in the country has consequently led to large-scale scams in the industry. As they say, with great power comes great responsibility.

The ruthless property shark in Khosla Ka Ghosla, Kishan Khurana, and the deceptive broker who sold the land without providing the required paperwork are not just fictional characters. They find innumerable avatars in the real world and exploit the buyers on an everyday basis -- be it selling land to the buyer without complete government clearance, procuring signatures on the contract without allowing room for negotiation to the buyer, or simply going back on promises regarding possession dates and other facilities. Also, the instance where Kamal Kishore Khosla's son resorted to the local pahalwans in order to break the boundary walls and regain possession of the land, is an important reminder of the misplaced state of law and order in the country. Lack of proper regulations is one the major reasons for the growing number of real estate scams today.

So, the moral of the story is that unless you take utmost care throughout the different processes of property acquisition, more often than not, you'll find yourself in Kamal Kishore Khosla's place. It is a lesson in realizing that right from carrying out a background check on the broker as well as the property seller, to reading the property contract details carefully, a lot goes into making a property transaction successful. Moreover, being aware of the legal implications and procedures involved at various levels will also help a prospective buyer in protecting his rights against illicit practices.

Alas all the real life stories do not have a happy ending such as Khosla Ka Ghosla. A large number of recent cases of property fraud, especially in the Delhi NCR region, are evidence of the fact. But even though you can't make sure that the ending of your story always make you look like the hero of a Bollywood flick, what you can do is act smart and hire a property advisor/consultant who has experience and knowledge of real estate market. Seeking expert counsel would guide you through the entire process and ensure transparency and accountability in all your transactions. And whether you are just starting out in real estate or have had your set of experiences in the past, this is one move you will never regret.