Why buying land at Agia is not considered:
1) There are already 5 plots of land in Agia - home (kheraj myadi), Lali pahar (kheraj myadi), Xonchapari (kheraj myadi), Samaguri (not known) and Agia College+ graveyard (not known). We have not been able to commercialize even one bit. If time and energy are there, please conentrate on making these existing plots of land profitable.
2) My impression at Agia does not suit owning land. I want to continue the same old impression to the local populous
3) If I have to make a comeback to Assam decision, starting something at Agia might not be very convenient
4) Prices of land at the sought after places at Agia are not affordable
5) Have not got any interesting deal as well.
6) The concept of quantum jump in profit is not possible at Agia. Even if I buy a land near NH @40 Lakh per bigh (eg- Miresh Sir's), the jump may be of 20 more lakh in 10 years.
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| With Karun Da inside NITS Mirza on 25 May |
The events leading to Ghy land deal:
The main person concerned- Dr. Karuna Kalita. During Karuna Da's visit to Mahipalpur, I requested him to inform if he decids to buy any land near Guwahati. On 10 May 2020, he suddently informed availability of land near to the place he has recently bought. This is located near NITS Mirza and the main person concerned is Dr. Anup K Gogoi, younger brother of ex CM Tarun Gogoi.
Dada and Karuna Da went to see the land on 14 May 2020. Dada did a live call, also sent a video made there. I was positive. After that, I started working on different parameters of my decision making which I will describe below. I paid a visit to the land on 25 May 2020 with Moina. Had a nice chat with Gogoi Sir. I continued my decision making efforts post my visit. Finally, on 27 May 2020 I decided to buy the land. I informed Gogoi Sir, talked with Mr. Bhagya Mohan Konwar, the original owner of the land and then transferred INR 1.5 Lakh to his account. On the next day, I have sat down to write a post on this.
How did I take the decision:
1) Price discovery: Talked with Pankaj Da (Pankaj Nath, doctor) who has recently bought land and built house in Mirza. He informed there are 2-3 huge fields between Mirza and Palashbari (area named Parlie) where several industrialists, politicians (including Himanta) have bought land. Around 2-3 years ago, the price was 25 lakhs per bigha. He told the area is good but genuinity of the owner must be verified. In my case, the price quoted for the land of Mr. Konwar was 50 Lakh per bigha. Then I talked with Manash who told the price should be around 10 Lakh per katha. Then I asked Bikas (Bikas Das, Cotton batchmate) who told land near NITS Mirza are quoted 25 Lakh per katha. I also wanted to check with Moina's friend in Mirza and Anu's husband; but later dropped the plan. Considering the above, I thought the price would be OK.
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| Discussion at the ploton first visit |
2) Ownership of land: Although Karuna Da never told (he didn't know, I guess), Gogoi Sir informed that the land is in the name of Bhagya Konwar. This guy is bhagin of Sir and invested lot of money into NITS Mirza project after he earned huge money in Germany by working as contractor post lay-off. With this much information- name, studied in NERIST and currently in Wipro Bangalore, I found the guy in LinkedIN. I also found his ownership of the land in Dharitri software of Govt of Assam.
3) Status of land: Dharitri software is amazing; it gave me the first positive news about the Paschim Baragaon land. For this Mirza land, I knew the sub division(Ghy), circle(Palashbari), Mouza(Chayani) and village(Parlie), but the land and daag number were not available. Bhagya Konwar was owning 4 plots of land - some kheraj myadi and some nishfi kheraj. From Naba of Goalpara Circle office, I came to know kheraj myadi is what we call myadi pattah mati. I request Gogoi Sir for the daag and patta number and he sent me the permission letter issued for Karuna Da. That particular plot was showing nishfi kheraj in Dharitri, but it was kheraj myadi in the permission. That was positive sign considering the software was updated 5-6 years ago.
4) Trust: In land deal, the trust is an important component. Karunda is amazingly honest and trustworthy. I had apprehension about Gogoi Sir for his entrepreneurial spirit and other affiliations. However, the conversation with him was amazing. The follow-up activities related to daag-patta information, background of Bhagya konwar gave me further confidence. Now, although I don't doubt his intention, I am just worried about bigger players (from other political ideologies maybe) who might even make Gogoi Sir a victim. But considering his experience with land including NITS Mirza, my worry can wait for now. I got inoformation through Bikas that NITS Mirza is now owned by NEMCARE group/foundation which had bought the building and everything at around 100 Cr; some people of NITS are also in the board. Gogoi Sir also confirmed the same later. So, information coming from different sources are not leading to anamolies.
5) Location from Access point: The exact location and accessibility are two big factors in any land purchase. The current access to the land is through NITS Mirza, which is a big bottleneck. Gogoi Sir informed that they have the right of passage through NITS Mirza. There is a new road currently being built; construction is on hold for Covid-crisis though. The internal road in and around the plot to be developed. I and Moina, while coming back from Guwahati, wanted to explore the village road from back side of the land. We took Dharapaur->Palashbari->SunPharma office->Mirza Chown route. Before reaching Mirza chowk we took the left turn looking at Google map to Barkuchi Colony (Sutarpara) road, then from back side of the land we drove to Barkuchi, then Udiyama Sangha, Banghi Gopal Gusai ghar etc finally arrived at the NH37, just opposite to the road through which Karuna Da's second plot can be reached. We observed on the back side of the plot where the proposed school will come, just near to my plot, there are people's houses; there is no way to connect to the plot directly. If you go bit forward, there is small gap, amidstlot of bamboo trees. I have requested Gogoi sir to open a road through that passage; he informed that the prices are too high and it will be wiser if we could include them in the school project.
6) Payment arrangment: On pricing, I was told 10 Lakh per katha and two katha of minimum land must be purchased. I just asked 'paisa tu karuna Dai koise, kiba...', He didn't let me finish, which made me understood 10 lakh is non-negotiable. He also said that I need to pay for registration, which might come apprx 30K. While I was calculating in my mind how I can get around 21 Lakh amount, Gogoi sir told payments can be made in phases. I need to transfer 1.5 lakh to Bhagya Konwar to initiate the permission process. After that, during registration, some money needs to be transferred. Wishfully, I should complete the whole transaction within 6 Months, which is again flexible. I was pleased to hear this. More than money, it shows the trust and the promise for long term association.
7) Future prospect of the land: This is very important parameter if you are not thinking of immediate consumption of the land. Gogoi Sir is passionate about setting up a school just beside the designated plot. If that happends, the issues related to access road and valuation of the land will no longer be there. As informed by Gogoi Sir, his daughter had studied Montessori education in US and he wants to start the school for her if she does not decide to go back to US. Talking with his wife, I understood the passion both of them possessed for education. He even informed, taking Karuna Da and others are part of his plan to have good people to help him with the school. I mentioned about Nischal in between. I got hugely impressed by the fact that two of my dreams-- visit to Southeast Asia via road through Morey and sailing through the Brahmaputra are already accomplished by Sir. lastly, with NITS Mirza no more, Gogoi Sir is expected to put all his energy on the school project.
8) Secluded but important location: In case, I decide to build house for staying, I prefer location with wide open areas. This particular location is like that. With public instt such as NITS Mirza and the (proposed) school nearby, there will be ample amount of open space, besides increasing the importance of the place. One side of my plot has an deep agricultural land which might take years to fill up and I may enjoy the openess of the place.This is a positive point.
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| On the way to the plot |
9) Maintainance issue: One of the reasons why the Paschim Baragaon land is remaining the way it is, there is no one to engage on regular basis. Any real estate investment far from work/native place always faces this this challenge. In this context, I foresee four positive points in this plot of land-- 1) this land is situated on the way from Agia to Ghy, so frequent visits may be made, 2) since Anup Gogoi Sir is living in that very location, he will take care of the land, 3) since Karuna Da also has a plot where he wants to settle in future and he is unlikely to go out of Assam until retirement, there is always one trustworthy person to take care of the land, 4) The other owners of the four available plots- Karuna Da's friend, the BRPL employee who stays in the same flat of Gogoi Sir are also staying nearby and will be willing to develop the land in future.
10) Need to burn cash: For last 2-3 years, I have been writing my intention to reduce my liquid cash. With 16-17 Lakh liquid money in Savings Bank account, I am just acting as a fool. This cash must go into something for future. And with no marriage on card in near future, I believe this is the perfect event/time.
Risks: Although I have written 10 positive points above, I see four risks at this point of time; for two I have mitigation strategies.
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| Permission letter |
1) Price: Am I paying more than market rate to a plot which does not have approach road currently and maybe available @ 30Lakh per Bigha(Ref- Pankaj Da)? Although the land is kheraj myadi, it is Agriculture land.
Mitigation- Even if I paid bit more (4-5 Lakhs), the land is an asset with continuous inflation. For conversion from Agri to bhita, it would be a comparatively easy affair since nearby lands are already converted.
2) Approach Rasta: This is a big issue in the land. Current passage via NITS Mirza is not sutainable at all. For this I can't do anything and only Gogoi Sir can do. May God bless him with the proposed plan of school and roads are constructed. In my attempt to puch him- I have already started learning Montessori, talked with Nischal and promised Gogoi Sir to introduce with Nischal.
3) Too much dependancy on Gogoi Sir: Since I have no prior experince of buying land (only have the bitter experience of Deuta's experience of Paschim Baragaon land), I done't take over-dependancy on a single person as a good sign. Karuna Da is quite oblivious of this fact and that is again a risk. If something happens to Sir (khuda na kare), I am not sure who would push his dream of the school. I have no mitigation strategy on this. As time goes by, I need to find something.
4) Is it right time considering future prospect of association with Uday Da: Post recent association with Uday Da through Rajib Da, I started exploring about signing a property deal through him. I even discussed this with Pranjal. Considering his big plans of university, he might be willing to have land/flat available for purchase.
Mitigation: I may try with Pranjal later if the deal is affordable.Dada/Moina might be having plans and try if some nice opportunity comes up.
