New Delhi [India], June 16 (ANI/SRV): PropertyAngel, a second landlord platform, has launched an online academy to help improve real-estate literacy amongst consumers and professionals alike. This platform aptly called Prop.Academy, offers several courses on real estate. It is currently solely focused on real estate in the Indian context and helps people who have lost money in real estate.
Rs 1.4 lakh crores worth of projects were stalled as of August 2021, with home buyers of these projects stuck with paying their EMIs for a home they may never see the sight of. What makes matters worse is that this number does not even include delayed projects. Even though RERA came into effect in 2016, the RERA authorities have not been able to protect the consumer, as they have been unable to execute their own orders.
Sapna Chandiramani, Co-founder and CEO of PropertyAngelsaid, “We have so many landlords and tenants who come to us with horror stories. My heart really goes out to them – some landlords are stuck with tenants not paying rent or vacating, others where tenants had absconded with everything in the property, and yet others where landlords don’t refund the deposits of tenants at all. Some of our tenants are stuck paying EMIs and rent as the projects they have invested in are stalled. In most cases, I have found that there is usually certain legality involved in the contract which was missed by the victim because of the lack of adequate knowledge. That’s where the thought of establishing an academy came from. At least if they are educated about what could go wrong, they can protect their own interests better.”
Prop.Academy has some Level I course at the moment. There is a course on Real Estate Renting that guides both tenants and landlords about aspects to be vigilant of. There is another one about purchasing a property and the entire process, starting from an explanation of all the documents, to some steps to take if the project is stalled. There is also a course for someone who wants to take up real estate as a profession.
PropertyAngel Management Pvt Ltd is a leading O2O second landlord platform. Incorporated in November 2014, and bootstrapped by a husband-wife duo, PropertyAngel is a Bangalore-based proptech company, providing professional housing asset management for individual apartments, villas and houses. PropertyAngelis profitable, and as of May 2022, has over 1.5 million sft under management and maintains a customer presence across 95 countries. Its mission is to innovate to simplify & secure real estate affairs. Given that almost 80% of India’s wealth is in real estate, consumers need to be educated and informed to protect their wealth. They need access to the best service providers. Service providers need upskilling, tools and the establishment of best practices. This is what PropertyAngel hopes to do with the launch of Prop.Academy.
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