The Broker is Crushed!, this is how Real Estate agent Ravi Kewalramani captioned his video on the Instagram, as he asked the Maharashtra Real Estate Regulatory Authority or MahaRERA for help, in 'saving' brokers in the real estate sector.
Chandak Group In Spotlight
In the video posted on 26 April, Kewalramani cuts straight to chase and tears into Mumbai-based developers, Chandak Group. He goes onto accuse the developer of withholding commission his company's commission on technical grounds.
According to Kewalramani, real estate agents despite being an integral part of the ecosystem have been 'exploited and neglected'.
Kewalramani claims to have helped selling one of Chandak Group's commercial office space in Mumbai's suburb of Andheri. After eluding from paying the said commission, when Kewalramani approached the builders, he was allegedly affronted by Chandak Group.
He was allegedly denied his commission on the grounds of not possessing a real estate competency certificate. This system of a competency certificate was established in 2024 by state real estate body MahaRERA to regulate the sector and its actors, including brokers, old and new. And Kewalramani was denied his commission, after the commencement and completion of all transaction, for not having the said certificate.
'Ploy To Earn More From Interests'
Kewalramani claims, that he could not attain the certificate, which mandates a test, due to his 'commitments'.
Builders, according to MahaRERA, are expected to publish the details of the certificate and project on their website.
Kewalramani has accused the Chandak of doing the same of the to other brokers in the market. This according to his, is the builder's way of earning additional interest on the cumulative amount from the banks.
Further, a visibly indignant Kewalramani also suggests of punitive actions, that might be initiated against him. He went ahead with his revelation, as he said."Jwalamukhi Fatchuka Hai" or that he has ran out of patience with the developer.
Kewalramani further asked MahaRERA to step, as he claimed that such 'exploitation' could be more acute in the case of smaller brokers.
