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The Lands Department issued a total of three consents to sell residential units between April and June, 2006, of which two consents were for the sale of units in uncompleted developments and one was consent to assign units in a completed residential development.
The Lands Department announced today (July 6) that the two consents to sell involved a total of 1,847 uncompleted residential units located in Tsuen Wan and Wan Chai. These two developments are estimated to be completed by September and December, 2007, respectively. The consent to assign completed units involved 1,054 units in the Kowloon West district.
As at the end of June, 2006, 13 applications for consent to sell residential units and seven applications for consent to sell commercial developments, were pending approval.
The applications for consent to sell uncompleted residential units being processed involve a total of 7,330 residential units. Among them, one application involving 11 residential units is estimated to be completed in 2006. The other 12, involving a total of 7,319 units, are estimated to be completed in 2007 and 2008.
In addition, there were three applications for consent to assign involving 3,278 completed residential units pending approval.
People can obtain up to date information on consents to sell units in uncompleted residential developments issued for the last six months and cases pending approval as at the end of June, 2006, by dialling Legal Advisory and Conveyancing Office's Hotline No. 2147 5475 or on the Lands Department website at www.landsd.gov.hk.
Intending purchasers are advised to carefully study details of the development and the sale procedures, through information available from public advertisement, sales brochure and price lists released by the developer before making a deposit for a purchase. The sales brochure for a development (normally including a Chinese version) also contains the main points of the Deed of Mutual Covenant, including the definition of common areas, terms of appointment of manager, the basis of calculating management fees, amounts of any deposits and other relevant details, as well as any special features of the Government land grant which intending purchasers are recommended to read carefully. They should also note that developers may hold sales of units by private sale direct with purchasers, for which, under the Consent Scheme, price lists are not required to be produced.
Ends/Thursday, July 6, 2006
Issued at HKT 17:00
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