I bought a 2BHK apartment four years ago in Gurgaon. The property dealer who had finalised my deal duped me by promising me a handsome discount. I trusted him and paid the booking amount.
After making the initial payment, when I asked him for the discount, the broker informed me that he would not be able to pay as he hadn’t got his commission from the developer. Normally when a broker promises any discount to a homebuyer, he allots some percentage from his brokerage which he gets from the developer.
For instance, for a ₹ 45 lakh flat, a developer usually gets a 10% commission out of which he may pass on 5% to the homebuyer. Buyers also find such deals profitable and therefore prefer booking a unit with a broker instead of buying directly from the builder. However, a majority of brokers fail to fulfil their promise.
The most common refrain among brokers is that “since the developer has not paid my commission, how can I pass on the discount?” It is also difficult for a homebuyer to crosscheck with the developer. Had I got the offer in writing from the broker, I would have definitely dragged him to court for making false promises but since I did not, I could not do much.