Property brokers in Gurugram to move court against capping on brokerage

Real estate brokers in Gurgaon are planning to challenge in court a directive issued by the HaryanaReal Estate Regulatory Authority (RERA) capping the brokerage on real estate transactions at a maximum of 1%, a move that may have far reaching consequences for the broker community. Haryana RERA, in a directive last week, had said that it is taking measures to streamline the brokerage system to ensure buyers are not harassed. Association of Property Professionals (APP), the NCR chapter of National Association of Realtors(NAR), said it is preparing a legal reply…