Our agency fees applies to Owners or Landlord only as we do not take any agency fees from our Buyer or Tenants. Our remuneration are as follows:-
- For SALES: 2% of the sales price, payable latest at the signature of the deed.
- For RENTAL :-
- Lease for a minimum of 12 months(1 year) : one month rental.
- Lease for less than 12 months : 10% of the total lease amount of the rental period.
Notary Fees Upon Acquisition.
Notary fees are set according to a cumulative schedule. Notary fees are around 0.50% to 2% of the property value plus the VAT.
- 2% for the first MUR 250,000
- 1.5% on the next MUR 500,000
- 1% on the next MUR 1,000,000
- 0.5% on the remaining balance of the selling price.
Example sale of MUR 5,000,000.
- 2% × MUR 250,000 = MUR 5,000
- 1.5% × MUR 500,000 = MUR 7,500
- 1% × MUR 1,000,000 = MUR 10,000
- 0.5% × MUR 3,250,000 = MUR 16,250
- Total = MUR 38,750 + VAT(15%) = MUR 44,562.50
Note: In the context of the real estate project such as IRS, RES & PDS which is reserved for foreigners, notaries can sometimes not follow this setup and charge a fixed %, generally 1% +VAT.
Registration Fees & Other Charges Upon Acquisition.
Fees to be incurred:
- Registration Fee
As of January 2012, registration fee is levied at a flat rate of 5% of the property value.
A first time buyer will now be allowed to buy bare residential land, free of registration fees, on the first Rs 2 million, provided the acreage does not exceed 20 perches.
- Stamp Duty
Stamp duty on property transactions generally costs MUR1,000 (US$27).
- Transfer Tax
Transfer tax is levied on the property value, and the applicable tax rate varies depending on the how long the property was held by the seller prior to the sale. Transfer tax is levied at a flat rate of 5% if the seller has owned the property for more than five years, and at a flat rate of 10% if the seller has owned the property for less than five years.