Mumbai (Maharashtra), [India], May 7, 2024: A recent post by the social media influencer Ravi Kewalramani, highlighting the financial woes of Chandak Group, has inadvertently sowed confusion within the Maharashtra real estate industry. Soon, the crisis escalated, garnering attention from industry leaders and stakeholders.
Girish Chhalwani, CEO of THE EDGE Real Estate Advisory, has publicly criticised Ravi for his irresponsible use of social media. Additionally, as a business coach, Chhalwani has stressed the significance of agent certification, particularly in light of ongoing regulatory changes.
Over the past 14 years, Girish has provided training and mentorship to over 400 employees in the real estate sector. Furthermore, in his real estate journey, he has collaborated with over 5000 agents across various developers and projects for multiple launches and was able to generate revenue of $1 Billion for these developers
In the video, Ravi complained about how the prominent developer failed to process the monetary transaction. However, the Real Estate Agent Ravi’s lack of a competency certificate has caused unnecessary problems in the industry.
With the real estate industry of Mumbai shaken to the core, the agents and brokers are trying to grapple with the situation. Only an estimated 10% to 15% of agents possess the requisite certificate of competency in the Metropolitan Region (MMR), indicating the gravity of the situation.
Subsequently, this revelation extends beyond individual agents to impact the entire real estate ecosystem. Developers, reliant on agents to facilitate transactions and propel sales, now face heightened scrutiny and regulatory pressure.
The recent validation of certifications, as mandated by RERA’s latest notification, compels developers to work with registered agents only. This notification further introduces a layer of uncertainty that threatens to erode trust and confidence within the industry.
Girish Chhalwani, a social media influencer and content creator, business coach for sales and marketing, and real estate advisor to developers, is at the forefront of efforts to spread a positive narrative within the industry. Through educational initiatives and advocacy campaigns, he aims to enlighten stakeholders about the significance of obtaining competency certificates. Collaborating with industry stalwarts like Rafique Merchant, Chhalwani strives to instil a culture of responsibility and ethical conduct among real estate agents.
In his recent post, Girish’s comparison of Ravi’s actions to driving with an expired license strikes a chord, underlining the importance of accountability and adherence to regulatory standards. These implications transcend mere regulatory compliance, striking at the core principles of trust and integrity that underpin the real estate profession.
Standing in contrast to Ravi’s irresponsible reporting, Girish Chhalwani demonstrated prudence and leadership by advocating for education and compliance. Recognising the urgent need for agents to obtain competency certificates mandated by RERA, Chhalwani took to social media not to fuel confusion but to enlighten and empower stakeholders.
In conclusion, the real estate industry finds itself at a crossroads, struggling with regulatory scrutiny, ethical dilemmas, and the imperative for compliance. Girish Chhalwani’s advocacy for education, compliance, and industry-wide collaboration offers a glimmer of hope amidst the chaos.
