The
Real Estate Bill also makes it compulsory for real estate agents to register
& get licences before they begin to
conduct business.
Mr.
Yashwant Dalal, President, Estate Agents Association of India, believes that
this is a positive step by the government which will make real estate broking
an organised profession.
In
his view, the government should introduce more entry barriers so that only
serious players get into the real estate field. There should be a licence fee
or/ a registration fee before someone
can conduct this business. This will encourage only genuine brokers to enter
the profession. Such serious professionals will study a developers project
thoroughly before deciding to sell it to clients, Mr. Yashwant Dalal says.
According
to Mr. Yashwant Dalal , in developed nations the fee charged by real estate
agents is treated as a legitimate expense that is clubbed with the cost of the
house.This does not happen in India. He adds that licensed brokers should be
mandated to file income - tax (IT) returns.
Currently
most brokers in the country dont do so as they conduct most of their
transactions in cash.
Adds
Mr. Yashwant Dalal: The brokerage that brokers charge abroad ranges between 3
to 5 % of the total value of the transaction. However, this amount is charged
only from the party that hires the broker &
not from both the parties. Introducing this practice here may reduce the
buyers cost.
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