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Is the brokerage for residential property and commercial property different?

Discussion in 'Global Real Estate' started by Jidnyasa Sardesai, Jul 12, 2018.

  1. Jidnyasa Sardesai New Member

    The standard brokerage of 1% for resale properties charged to both parties and the rental brokerage of 1 to 3 months is the same. However, it is very rare for someone to enter into a residential lease for a lock-in period that would generate a brokerage payment of more than one month’s rent whereas commercial leases for office space in Mumbai can stretch beyond ten years. In Mumbai the rental rates are for below 3 years – one month’s brokerage, for less than 5 years – two month’s brokerage and for over 5 years – 3 months brokerage.

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