Brokerage issues to come under MahaRERA ambit
Issues of brokerage can now be taken up by the Maharashtra Real Estate Regulatory Authority (MahaRERA) as per the latest amendment in rules that was issued by the housing department on June 6.
The development cost or cost of construction of a project shall not include marketing and brokerage following the sale of apartments, states the latest amendment.
Such expenses though part of the project cost, should not be borne from the amount that is required to be deposited in the designated separate account which essentially means that a broker can now approach the authority if his brokerage is due.
Every developer has to maintain a separate account where he deposits money that has to be used for the development of the project. The money in this account has to be used only for construction and purposes related to the development of the project. That means the money cannot be diverted for other things which include marketing, explained property watchers.