The fee payable to a property broker on a particular transaction, and when each part of it falls due
Executed at Mohali on 1 April 2026.
1. The Client — Manpreet Singh Brar, son of Jaswant Singh Brar, resident of House No. 512, Sector 21-C, Chandigarh 160022, mobile +91 XXXXX XXXXX, email manpreet.brar@example.com ("the Client"), who is the seller of the Property.
2. The Broker — Rajinder Kumar Bansal, trading as Bansal Property Consultants, of SCO 22, Phase 3B2, SAS Nagar (Mohali), Punjab 160059, mobile +91 XXXXX XXXXX, email rajinder@bansalproperty.in, holding real estate agent registration number PBRERA-SAS80-REA0123 ("the Broker").
A. The transaction concerns the property at House No. 1147, Sector 70, SAS Nagar (Mohali), Punjab 160071, in Punjab: A two-storey house on a plot of 250 square yards, with a covered car porch ("the Property").
B. The Broker introduced Harpreet Kaur Gill to the Client, and they propose a transaction concerning the Property of a value of ₹90,00,000 (Rupees Ninety Lakh only) ("the Transaction").
1.1 The Client will pay the Broker a fee of ₹1,35,000 (Rupees One Lakh Thirty Five Thousand only) for its services in the Transaction ("the Fee").
1.2 The Fee stays at the amount stated, whatever price or rent is finally agreed.
1.3 Goods and services tax is payable on the Fee in addition to it, and the Broker will issue a tax invoice for each instalment.
2.1 The first instalment of ₹67,500 (Rupees Sixty Seven Thousand Five Hundred only) falls due on the signing of the agreement to sell or the tenancy agreement. The second instalment of ₹67,500 (Rupees Sixty Seven Thousand Five Hundred only) falls due on the signing of the agreement to sell or the tenancy agreement.
2.2 Each instalment is payable within 7 days after the event on which it falls due.
2.3 The instalments together make up the Fee. If they do not add up to it, the Fee prevails, and the difference falls due with the last instalment.
2.4 An instalment not paid when due carries simple interest at 12 per cent a year from the due date until it is paid.
3.1 Where the law requires the Client to deduct income tax at source from the Fee, the Client will deduct it, pay it to the Government within the time allowed, and give the Broker the certificate for it. The amount deducted counts as paid to the Broker.
4.1 If the Transaction is not completed for any reason, any instalment already paid is kept by the Broker, and no further instalment is payable.
4.2 A failure of the Transaction does not by itself make the Broker liable to either party to it. The Broker is liable only for its own misstatement or default.