Popular Estate Agencies
- Magicbricks: One of India’s leading online real estate platforms, it offers a wide range of properties for sale and rent, including residential and commercial properties.
- 99acres: An online real estate platform that offers a wide range of properties for sale and rent, including residential and commercial properties.
- Commonfloor: An online real estate platform that offers a wide range of properties for sale and rent, including residential and commercial properties.
- India Property: An online real estate platform that offers a wide range of properties for sale and rent, including residential and commercial properties.
- PropTiger: An online real estate platform that offers a wide range of properties for sale and rent, including residential and commercial properties.
Qualifications and/or Licenses for Estate Agents in India
- The Real Estate (Regulation and Development) Act (RERA) requires estate agents and property brokers to register with the state Real Estate Regulatory Authority (RERA) and to possess a valid registration certificate.
- Agents must also have a minimum educational qualification of class 10th, and must have completed an agency course from a government-recognized institution.
- Agents must also have a minimum of two years of experience in the real estate sector.
Estate Agent Fees in India
- Estate agents typically charge a commission of 1-2% of the sale price of the property. This commission is usually split between the buyer’s and seller’s agents.
- For rental properties, estate agents typically charge one month’s rent as commission.
Property for Sale in India
- Apart from estate agents, property for sale in India can also be found through:
- Online property portals such as Magicbricks, 99acres, Commonfloor, India Property, and PropTiger.
- Local newspapers and classifieds.
- Real estate developers and builders.
- Word of mouth through friends and acquaintances.
Use of Buyer’s Agent in India
- The Use of a Buyer’s Agent is not very common in India.
- No specific qualifications or licenses are required for a buyer’s agent in India.
- The cost of a buyer’s agent can vary depending on the services offered, but it is typically a percentage of the purchase price.
Organisations for Foreign Property Buyers in India
- The Embassy of the country of the foreign buyer in India may provide information and assistance on buying property in India.
- The Confederation of Real Estate Developers’ Associations of India (CREDAI) is an industry body that represents real estate developers in India. It may be able to provide information on buying property in India.
- The National Real Estate Development Council (NAREDCO) is a government-affiliated body that represents real estate developers in India. It may be able to provide information on buying property in India.