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Realty brokers seek min 2% commission

DNMUM404604 | 1/4/2018 | Author : Ateeq Shaikh | WC :338



Mumbai: Confederation of Real Estate Brokers Association of India (Crebai) has announced that they will approach the government to ensure that a minimum 2% brokerage is made mandatory on sale or purchase of properties throughout India by way of amendment to the Real Estate (Regulation and Development) Act, 2016 or Rera.
In the last few years, several brokers have lost on brokerage due to non-payment by developers in the backdrop of the financial crunch in realty market.
Rajiv Jain, a committee member of Crebai, said, “Each of us has a story to tell. All of us have lost money as builders didn’t pay our dues; this, after doing all the groundwork to get home buyers to their doorstep and selling their apartments.”
“There
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