Housing societies asking Real Estate Agents to pay Royalty/ Donations

societydonationBy Accommodation Times News Services

Now housing societies are asking Real Estate Agents and Brokers to pay royalty on each and every transaction before they grant NOC. Even lease deals also not spare. The rate card are published and displayed on the notice board. In Mira Road, Dahisar and Borivali of Mumbai, housing societies wants their share in the broking business. Officially, the societies are asking donations on each and every transaction happens not only from buyers and sellers as Transfer fee and documentation charges from lease deals but now they want Real Estate Brokers and Agents too to give them Royalty / Donation on each deal.

For Every Lease deal Rs 3,000/-

For Sale 1 BHK deal Rs.10,000/-

For Sale 2 BHK deal Rs.15000/-

For Sale 3 BHK or Shops Rs.15,000/-

These amount must be paid by Agents from their own pockets before getting NOC from the society. Although a maximum transfer fees of Rs.25000/- is provided but societies take Rs.25000/- each from buyer and seller in order to transfer.

Such type of royalties / donations are not provided for in any Act or bye-laws, though, the practice started en-route in almost all parts of western suburbs in Mumbai.

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