6 Indian cities where brokerage rate is quite high

Be it renting or buying, one of the main concerns that a consumer faces is brokerage rate. People avoid going to brokers, especially while renting spaces as they charge a bomb.

There are many Indian cities where a broker charges somewhere between Rs 40,000 and Rs 50,000 in advance as brokerage amount.
While looking at renting apartments in residential areas, many customers avoid giving away such huge amounts and have to run from pillar to post trying to find a suitable accommodation that doesn’t charge them the earth as brokerage charges.

“The residential rental market in India is still largely unorganised. Presence of individual brokers leads to fragmented information regarding the brokerage on renting properties,” said Amit Kumar Agarwal, Founder & CEO, NoBroker.com, a brokerage-free property search portal which recently launched its services in Gurgaon.

The market size of residential rental and resale brokerage in top 20 cities in India is a whopping $6.5 billion, which is estimated to grow to $17 billion in next 5 years.

As per the data by NoBroker.com, these are 6 Indian cities where brokerage rates on renting residential properties are very high.