The property regulator’s warning follows the number of complaints lodged daily in the city where deceived buyers or recipients are coming forward for relief.
“The authority has decided to solve this problem and work on it by blacklisting the agents who charged the brokerage arbitrarily,” said KK Khandelwal, Chairman of Gurugram RERA.
The authority said that the Haryana Property Dealers and Consultants Regulation 2009 provides for charging only half a percent commission to buyers and sellers.
The Authority, in one of its decisions which it adopted on September 1, 2022, rejected the brokerage of more than half a percent which is currently deducted by promoters when handing over units by the assignees.
Khandelwal said arbitrary brokering is an offense as apparently defined in the RERA law, but agents or brokers have continued to embrace this malpractice in defiance of the RERA law, which is punishable.
“We will revoke, blacklist and debar agents or brokers who have committed the offense of exorbitant commissions in violation of the rule,” Khandelwal said.
The authority has decided to massively tackle these abusive practices adopted by real estate agents and brokers to exploit beneficiaries in the name of charging arbitrarily high brokerage fees.
While prohibiting arbitrary brokerage, the authority has issued a warning to all 1840 registered real estate agents regarding the arbitrary brokerage they charge innocent property sellers and buyers.
The rule provides for a commission of half a percent of the consideration value agreed upon by sellers and buyers when finalizing the transaction.