Notary fees for a property acquisition in Mauritius
Notary fees for any property purchase in Mauritius follow a fixed schedule based on the sale price :
> 2% for the first Rs 250,000 paid
> 1.5% on the next Rs 500,000 paid
> 1% on the next Rs 1,000,000 paid
> 0.5% on the balance of the selling price
These notaries fees are subject to VAT (15%)
Example : Sale of Rs 8,000,000
Rs 250,000 x 2% = Rs 5.000
Rs 500,000 x 1,5% = Rs 7.500
Rs 1,000,000 x 1% = Rs 10.000
Rs 6,250,000 x 0,5% = Rs 31.250
Total : Rs 53,750 + 15% VAT = Rs 61.812,50
Therefore 0,77% of the sale price of Rs 8,000,000
On these fees, you should also add administrative fees and stamp duty which can vary between Rs 2.500 and Rs 10.000 approx.
In the case of property developments, such as IRS, RES, PDS or other developments, notaries can sometimes not follow this schedule and charge a fixed %, generally 1% +VAT, to cover for more complex deed of sales or HOA agreements which would need to be prepared.
Please do not hesitate to make contact for more information on notary fees in Mauritius and for any other professional advice on real estate in Mauritius.