What are the Professional fees chargeable by an Estate Agent?
Sale – maximum professional fees of 3% of the value of the property
For letting/ leasing:-
Duration of Tenancy
Maximum fee
Up to 3 years
1.25 months of gross rental
Exceeding 3 years up to 4 years
1.50 months of gross rental
Exceeding 4 years up to 5 years
1.75 months of gross rental
Exceeding 5 years (without renewal option)
1.75 months of gross rental
Exceeding 5 years (with renewal option)
1.75 months of gross rental plus 0.25 months of gross rental for each extra year
Claims are allowed for travelling, printing, copies of documents, advertisements, sign boards, etc.
Service Tax – 6% of Government Service Tax will be charged on all professional fees received as it is compulsory under the law to pay service tax for those using the services of the Real Estate firms.
