TS criminals find real estate biz lucrative

Hyderabad: The Lack of background checks on real estate agents by the Real Estate Regulatory Authority (TSRERA) is allowing goons to join the business. Police officials said that such elements cheated NRIs and businessmen with bogus deals.

Besides, recent murders have been linked to real estate deals gone wrong or grudge over commission on land transactions. 

Officials from the city police said that anybody with a basic sense of field-based marketing and negotiating skills could register to become a real estate agent. 

“Either the goons themselves get into illegal land dealings or they are hired by land-grabbers who target land parcels and properties with weak owners or NRIs,” said K. Naveen Kumar of the Rachakonda police. 

“After identifying such plots of land, they create fake documents and claim possession of the land. The owner is forced to approach them for trespass. Then, they threaten the owners and ask for a settlement. Most of these deals eventually leads to murder,” the official said. “There are several such cases in court.”

When asked about this, M.S. Shankar from the TS RERA said, “We do not check for background or criminal history. Just basic documentation and standard requirements should be met,” he said, adding that the rule mentions that the agents must not indulge in any unfair trade practices. 

Bloody history

A few of the recent cases involving murder.

March 27: Balapur police arrest eight for murder of rowdy-sheeter Ilyas Nawab.

March 3: Ibrahimpatnam police arrests real estate agents for murder of two realtors.

December 1: Realtor murdered at Trimulgherry by cousin over commission.