Legal Question in Real Estate Law in India

My real estate agent is charging me the following -

- 1 month's rent + 14.5% Service Tax

- Stamp Duty and Registration would be extra as per actuals paid

- Agent Fees (for paperwork) will be equally split by both the landlord and me.

For every renewal - a further month's rent + service tax as indicated above. She is suggesting a 2 year agreement upfront with a 1 year lock-in to avoid repeat agent charges and taxes. And a month's notice can be given post a year for exit.

I'm a young British national leasing a place first time in India. Does this sound right?

Also, if I'm renting a house with monthly rent, 1,00,000 INR. How do I calculate each of what the real estate agent is asking for and is this a common practice in India? Or do I need to find a new broker?

Regards


Asked on 5/24/16, 8:55 am

1 Answer from Attorneys
Rajiv Chandhok Ph: +919810050896 https://www.linkedin.com/in/rajiv-chandok-0827b733/

Dear Madam/Sir,

Your broker has quoted the right charges for Service Tax. He is also demanding correct charges for stamp duty and registration as per actuals. However brokerage for materializing the transaction should not be paid more than 15 days rent. Please negotiate with her on this front. Other terms seem to be fine. In case you require us to calculate the amount of stamp duty etc.please feel free to contact the undersigned.

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Regards

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Answered on 5/25/16, 6:37 am


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