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Srijan Town Square | Integrated Mixed-Use Development | Preview starts 10 Feb 2025
+91 8420994555 enquiry@renitzproperties.com RERA No. WBRERA/A/KOL/2023/000165
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Commission Guidelines

1. Guidelines

  1. Associates SHALL NOT represent both parties in the same transaction.
  2. Associates SHALL NOT collect commission or fees from more than one party in the same transaction.
  3. This applies to all forms of transaction, including sales/purchase, rental/leasing, assignment.
  4. When engaging our associates, clients are advised to use the Prescribed Estate Agency Agreement as it protects the interest of both parties.
  5. The commission rate agreed upon is to be recorded and a copy of the agreement given to the client.
  6. In the event there are additional terms and conditions (not found in the Prescribed Estate Agency Agreement) that are mutually agreeable between client and our associates, these additional terms should be added in the space provided or on a separate sheet of paper. The additional terms cannot conflict with, or vary from, the printed prescribed terms.
  7. The remuneration system for salespersons is based on the provision of service and/or upon successful transaction.
  8. This scale of professional fee/commission is not intended to restrict or interfere with any private arrangements which salespersons may have with their clients.
  9. Agreements and undertakings in all transactions shall be made between clients and Renitz Properties and not with the individual salespersons.
  10. Payment for commission shall be made payable to Renitz Properties and not the individual salespersons.
  11. Salespersons and their clients amongst themselves shall document/communicate at the initial stage their agreement on commission, costs, and disbursements. The documentation/communication shall also include the scope of works, duties, and undertakings by the salespersons.

2. Professional Fee / Commission

1. ALL SALE AND PURCHASE OF PROPERTY IN INDIA
Party Professional Fee/Commission Payable To Agency
Vendor Minimum 2% or any higher amount of contracted price as agreed
Purchaser Minimum 1% or any higher amount of contracted price as agreed
  1. Associates shall not accept any commissions from both Seller and Purchaser in the same transaction. This is in strict compliance with the Estate Agents (Estate Agency Work) Regulations 2010.
  2. Commission is due immediately to Renitz Properties upon completion of sale and purchase or as otherwise agreed between the parties.
2. Leasing of Property In INDIA
Duration of Lease Professional Fee/Commission Payable To Agency
24 Months or Less Minimum 1 month’s gross rent or any higher amount as agreed
Every subsequent 12 months or less Minimum 1/2 month’s gross rent or any higher amount as agreed
Renewal of Lease for every 12 months lease Minimum 1/2 month’s gross rent or any higher amount as agreed

3. Professional Code of Practice

  1. Associates shall at all times conduct themselves in a professional manner that will not prejudice the standards and reputation of Renitz Group and the real estate industry.
  2. As a GST-registered estate agency, Renitz Properties is allowed to charge and collect GST.
  3. All commissions payable are subject to GST in accordance with the Goods and Service Tax Act.