Our Professional Fees
Services
- Understanding your requirement
- Detailed orientation of selected properties
- Advising the right property and apartment
- Finalizing the deal
- Completing booking formalities
Allied Services Related To Primary Market Transaction
- Liaising with the developer
- Liaising with the bank/financial institution
- Documentations
- Logistics support
- Tax Deduction at Source (TDS) process and submission of TDS Certificates
- Statement of Account (SOA) from the developer
- Payment receipts from the developer
- Registration process
- Pre-possession inspection
- Car Park allotment
- Possession formalities
- Name change in electricity bill
Services
- Understanding your requirement
- Detailed orientation of selected properties
- Advising the right property and apartment
- Finalizing the deal
- Completing booking formalities
Allied Services Related To Primary Market Transaction
- Liaising with the developer
- Liaising with the bank/financial institution
- Documentations
- Logistics support
- Tax Deduction at Source (TDS) process and submission of TDS Certificates
- Statement of Account (SOA) from the developer
- Payment receipts from the developer
- Registration process
- Pre-possession inspection
- Car Park allotment
- Possession formalities
- Name change in electricity bill
Services
- Advice on
- Property valuation
- Property improvement
- Taxation
- Marketing the Property
- Property pictures and video
- Bulk Email, WhatsApp, Property Portals, Social Media, Broker’s Network
- Dedicated microsite
- Conducting property inspections
- Buyer’s profile & credibility screening
- Arranging meetings with prospective buyers
- Negotiation and finalization
- Drafting and finalizing Memorandum of Understanding (MOU)
- Registered Notary of MOU
- Drafting and finalizing Agreement for Sale (AFS)
- Registration of AFS
- Completing the processes of
- Society / Developer
- Bank / Financial Institution
- Handing over physical possession of the property
- Obtaining Tax Decution at Source (TDS) Certificates from the buyer
- Logistics support
Service Fee/Brokerage – 2% of the Sales Consideration
Payment Timeline – Bill shall be issued on the day of registration of the Agreement for Sale. Payment should be made within 5 working days.
Services
- Understanding your requirement
- Detailed orientation of selected properties
- Property layout, actual pictures and videos
- Conducting property inspections
- Advice on
- Right property matching your requirement
- Taxation
- Arranging meeting(s) with the owner(s)
- Negotiation and finalization
- Drafting and finalizing Memorandum of Understanding (MOU)
- Registered Notary of MOU
- Drafting and finalizing Agreement for Sale (AFS)
- Registration of AFS
- Completing the processes of –
- Society / Developer
- Bank / Financial Institution
- Completing possession formalities
- Checking for utility payments till the date of possession
- Getting utilities transferred to your name
- Obtaining payment receipts from the owner
- Assisting in completing Tax Deduction at Source (TDS) formalities
- Name change in the electricity bill
- Logistics support
Service Fee/Brokerage – 2% of the total Sales Consideration
Payment Timeline – Bill shall be issued on the day of registration of the Agreement for Sale. Payment should be made within 5 working days.
Even if the resale transaction is not done through us, we would be happy to assist you in completing related formalities and ensure that you have a hassle-free experience.
Services
- Drafting and finalizing Memorandum of Understanding (MOU)
- Registered Notary of MOU
- Drafting and finalizing Agreement for Sale (AFS)
- Registration of AFS
- Completing the processes related to
- Society / Developer
- Bank / Financial Institution
- Completing possession formalities
- Payment receipts
- Assisting in Tax Deduction at Source (TDS) formalities
- Checking for utility payments
- Name change in electricity bill and other utilities
- Logistics support
Service Fee/Brokerage – 0.2% of the Sales Consideration or Rs. 39,000/-, whichever is lower
Payment Timeline – Bill shall be issued on the day of registration of the Agreement for Sale. Payment should be made within 5 working days.
Services
- Advice on
- Property rental valuation
- Property improvement
- Taxation
- Understanding your preferred Licensee’s profile
- Marketing the property
- Property pictures and videos
- Bulk Email, WhatsApp, Property Portals, Social Media, Broker’s Network
- Dedicated microsite
- Conducting property inspections
- Licensee’s profile & credibility screening
- Arranging meetings with prospective licensee
- Negotiation and finalization
- Drafting and finalizing of Leave & License Agreement
- Registration of Leave & License Agreement
- Completing the processes of –
- Society / Developer
- Police verification
- Handing over physical possession of the property
- Completing move-in formalities
- Logistics support
Service Fee/Brokerage – One month’s rental package if it is 11 months or 12 months’ lease. Two month’s rental package if lease tenure is greater than a year. (Rental Package = Monthly Rent + 1% of Security Deposit)
Service Validity- 15 days from the start of the lease tenure
Payment Timeline – Bill shall be issued on the day of registration of the Leave & License Agreement. Payment should be made within 5 working days.At the end of the lease, we would be happy to help you in renewing the Leave & License Agreement and re-doing related processes. Our fees for renewal would be one month’s rental package.
Services
- Understanding your requirement
- Detailed orientation of selected properties
- Property layout, actual pictures and videos
- Conducting property inspections
- Advice on
- Right property matching your requirement
- Taxation
- Arranging meetings with the owner(s)
- Negotiation and finalization
- Drafting and finalizing of Leave & License Agreement
- Registration of Leave & License Agreement
- Completing the processes of
- Society / Developer
- Police verification
- Completing move-in formalities
- Checking for utility payments at the start of the lease
- Getting rent receipts from the owner at the end of the year
- Assisting with Tax Deduction at Source (TDS) formalities
- Logistics support
Service Fee/Brokerage – One month’s rental package if it is 11 months or 12 months’ lease. Two month’s rental package if lease tenure is greater than a year. (Rental Package = Monthly Rent + 1% of Security Deposit)
Service Validity– 15 days from the start of the lease tenure
Payment Timeline – Bill shall be issued on the day of registration of the Leave & License Agreement. Payment should be made within 5 working days.At the end of the lease, we would be happy to help you in renewing the Lease & License Agreement and re-doing all the related processes. Our fees for renewal would be one month’s rental package.
Even if the rental transaction is not done through us, we would be happy to assist you in completing related formalities and ensure that you have a hassle-free experience.
Services
- Drafting & finalizing Leave & License Agreement
- Registration of Leave & License Agreement
- Completing the processes related to –
- Society / Developer
- Police Verification
- Completing the move-in formalities
- Checking for utility payments at the start of the lease
- Logistics support
Service Fee/Brokerage – Rs. 10,000/-
Payment Timeline – Bill shall be issued on the day of registration of the Leave & License Agreement. Payment should be made within 5 working days.
Services
- Liaison with the Licensee/Society/Developer whenever required
- Regular rent collection and deposit of rental cheque
- Monitoring rent payment monthly
- Checking rental progress quarterly
- Conducting flat’s inspections on Licensor’s request
- Following up with the Licensee for Tax Deduction at Source (TDS) deduction & Certificate
- Managing repairs & maintenance needs (to be charged on actuals)
- Represent you in re-negotiating the terms of the agreement, if required
- Thorough inspection of the property at the end or termination of the lease
- Completing deal closure and move-out formalities
- Checking for payment of all utility bills
- Advice on security deposit refund
- Logistics Support
Service Fee/Brokerage – Rs. 7,500/- per annum
Payment Timeline – To be paid each year, in advance, within 5 working days of issuing the bill.
Services
- Liaison with the Licensee/Society/Developer whenever required
- Checking rental progress quarterly
- Assisting with the Tax Deduction at Source (TDS) process
- Obtaining rent payment receipts annually
- Handling repairs & maintenance needs (to be charged on actual basis)
- Represent you in re-negotiating the terms of the agreement, if required
- Completing deal closure and move-out formalities
- Following-up for security deposit refund
- Logistics support
Service Fee/Brokerage – Rs. 7,500/- per annum
Payment Timeline – To be paid each year, in advance, within 5 working days of issuing the bill.
Services
- Quarterly property inspections
- Send videos and photos
- Visit the property when situation demands
- Heavy rains
- Cleaning requirement
- Sanitizing
- Force majeure events
- Repairs & Maintenance (to be charged on actual basis)
- Coordinate with the vendors
- Get quotation
- Negotiation
- Monitor the work
- Regular updates
- Pics and video on work completion
- Coordinate for property tax payments
- Coordinate with society for maintenance & Tax Deduction at Source (TDS)
- Liaison with Society whenever needed
- Tracking payment of utilities
Service Fee/Brokerage – Rs. 7,500/- per annum
Payment Timeline – To be paid each year, in advance, within 5 days of issuing the bill
Our Service Fee for : Complete Rental Management (Licensor) + Property Management Services = Rs. 10,000/- per annum
| Service | Service Fee/Brokerage |
| Rs. 4,000/- (to be paid within 5 working days of issuing the bill) |
| Rs. 10,000/- (to be paid within 5 working days of issuing the bill) |
Payment Timeline –We shall discuss the scope of work with you and carry it out accordingly. It will be a customized service.
Service Fee/Brokerage and Payment Timelines – Shall depend upon the scope of work. We shall discuss it with you before starting the work.
Points to be Noted
- 1. Our service fee/brokerage does not include the following and these will need to be paid by you separately
- Government taxes and any cess or surcharge levied by the government at the time of payment. For eg. Central Goods and Service Tax and State Good and Service Tax.
- Transaction related expenses such as stamp duty, registration, incidental expenses related to registration, police verification, society transfer charges, etc.
- Certain transaction or situations may demand hiring of some professional services like that of a CA, lawyer, etc. Their fees would need to be paid to them directly
- 2. It is expressly understood that if you conclude a deal directly with any party introduced to you by OPENMINDS, then we shall be entitled to our full service fee/brokerage as applicable on that transaction.
- 3. In case of delay in payment of our service fees/brokerage beyond a period of 5 working days from the day our bill is issued, a penal interest of 24% p.a. will be levied on a pro-rata basis.
- 4. We may extend different offers/schemes at different point in time either for all transactions or transactions related to any specific property as deemed fit by us. Launch and withdrawal of such schemes will be solely at our discretion.
- 5. Service Fee/brokerage once paid shall not be refunded or re-adjusted against any future payments under any circumstances.
- Payment Details
Issue cheque in favour of 'OPENMINDS'
Our RTGS/NEFT/IMPS details-
Account holder's Name - OPENMINDS
Bank and Branch - HDFC Bank, Yashodham, Goregaon-East, Mumbai
Current A/c No. - 02122320003078
IFSC Code - HDFC0000212
