In a rare case, a real estate agent from the city has scored a victory against a property buyer who did not pay him his brokerage. Pune civil court ordered that the buyer pay the broker close to Rs 8 lakh that they owed him for helping them acquire 10 shops in East Court in Phoenix Marketcity.
Monish Karachiwala, 42, brokered a deal between a Mumbai based hospitality company and Vamona Developers Pvt Ltd that built the East Court. BJN Hospitality Pvt Ltd, a Juhubased company wanted to buy 10 commercial units in the mall back in 2012 and sought the broker’s assistance. Karachiwala facilitated the purchase amounting to Rs 4 crore. While the deal was closed by 2013, Karachiwala never got his brokerage.
In real estate business since 2008, the Viman Nagar-based consultant chased both the developer as well as the buyer for the next few months for his commission. “When neither of them paid me what was rightfully mine, I was left with no option but to take the legal route. I was aware that the process will take time and that I was about to do what no real estate broker has ventured into before. But I was determined to get paid,” said Karachiwala, who hails from Ahmednagar.
He filed two separate suits against the developer and property buyer in 2014 through Advocate Ajit Kulkarni. In 2016, the mall developer settled his dues, after which case against them was disposed of by the court. However, the legal battle against BJN continued to rage in court.
During the battle that lasted little less than six years, Karachiwala was able to prove to the court that he facilitated the deal. He produced email communication between him and buyers, to prove that he had indeed facilitated the deal. He also produced bills amounting to Rs 7.92 lakh that he sent to BJN Hospitality as his 2 per cent commission for the transaction. The bills, he proved in court, were accepted by the property buyers. The buyers, however, never turned up in court.
Recently, AA Dhumekar, joint civil judge, senior division, passed an order asking BJN Hospitality Pvt Ltd to pay Karachiwala Rs 7.92 lakh that was his commission for the sale. “In short, the evidence of PW1 (Karachiwala) appears cogent, trustworthy, which is supported by the documentary evidence. It is crystal clear that he is entitled to recover the said suit amount of Rs 7,92,485 from defendant (BJN Hospitality).”
The judgment, according to Karachiwala, is not just his victory but a clear message to many other buyers who refuse to pay brokerage after concluding deals. “It took me six long years of legal battle. But the wait was worth it. It is not very often that real estate consultants muster up the courage to take on defaulters. Often consultants try and negotiate with defaulters for a while and then give up,” said Karachiwala, who now plans to help several others like him.
Source Pune mirror
Monish Karachiwala, 42, brokered a deal between a Mumbai based hospitality company and Vamona Developers Pvt Ltd that built the East Court. BJN Hospitality Pvt Ltd, a Juhubased company wanted to buy 10 commercial units in the mall back in 2012 and sought the broker’s assistance. Karachiwala facilitated the purchase amounting to Rs 4 crore. While the deal was closed by 2013, Karachiwala never got his brokerage.
In real estate business since 2008, the Viman Nagar-based consultant chased both the developer as well as the buyer for the next few months for his commission. “When neither of them paid me what was rightfully mine, I was left with no option but to take the legal route. I was aware that the process will take time and that I was about to do what no real estate broker has ventured into before. But I was determined to get paid,” said Karachiwala, who hails from Ahmednagar.
He filed two separate suits against the developer and property buyer in 2014 through Advocate Ajit Kulkarni. In 2016, the mall developer settled his dues, after which case against them was disposed of by the court. However, the legal battle against BJN continued to rage in court.
During the battle that lasted little less than six years, Karachiwala was able to prove to the court that he facilitated the deal. He produced email communication between him and buyers, to prove that he had indeed facilitated the deal. He also produced bills amounting to Rs 7.92 lakh that he sent to BJN Hospitality as his 2 per cent commission for the transaction. The bills, he proved in court, were accepted by the property buyers. The buyers, however, never turned up in court.
Recently, AA Dhumekar, joint civil judge, senior division, passed an order asking BJN Hospitality Pvt Ltd to pay Karachiwala Rs 7.92 lakh that was his commission for the sale. “In short, the evidence of PW1 (Karachiwala) appears cogent, trustworthy, which is supported by the documentary evidence. It is crystal clear that he is entitled to recover the said suit amount of Rs 7,92,485 from defendant (BJN Hospitality).”
The judgment, according to Karachiwala, is not just his victory but a clear message to many other buyers who refuse to pay brokerage after concluding deals. “It took me six long years of legal battle. But the wait was worth it. It is not very often that real estate consultants muster up the courage to take on defaulters. Often consultants try and negotiate with defaulters for a while and then give up,” said Karachiwala, who now plans to help several others like him.
Source Pune mirror
