How much does RERA cost in Dubai?
In Dubai, the Real Estate Regulatory Agency (RERA) is responsible for regulating and overseeing the real estate industry. RERA imposes certain fees on various activities related to real estate transactions. This article will provide an overview of the costs associated with RERA in Dubai.
Registration Fees
When registering a property with RERA, there are several fees that need to be paid. The registration fee is calculated based on the total value of the property. The fee is 0.5% of the property’s value, with a minimum fee of AED 2,000 and a maximum fee of AED 500,000.
In addition to the registration fee, there is also an annual renewal fee that needs to be paid. The renewal fee is 0.25% of the property’s value, with a minimum fee of AED 1,000 and a maximum fee of AED 500,000. It is important to note that these fees are subject to change and it is advisable to check the latest fee structure with RERA.
Broker Fees
RERA also imposes fees on brokers and real estate agencies. Brokers are required to register with RERA and obtain a license to operate in Dubai. The fee for obtaining a broker’s license is AED 5,000, which is valid for one year. There is also an annual renewal fee of AED 3,000.
In addition to the license fees, brokers are required to pay a transaction fee for each real estate transaction they are involved in. The transaction fee is 0.25% of the total transaction value, with a minimum fee of AED 2,000 and a maximum fee of AED 500,000.
Other Fees
Other fees associated with RERA include the fee for obtaining a permit to advertise real estate projects, which is AED 5,000. There are also fees for obtaining copies of documents from RERA, such as title deeds and property ownership certificates. The fees for these documents vary depending on the type of document requested.
When buying or selling a property in Dubai, it is important to be aware of the costs associated with RERA. The registration fees, broker fees, and other fees can add up to a significant amount. It is advisable to consult with RERA or a trusted real estate agent to understand the complete fee structure and ensure compliance with all regulations.