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The Lands Department today (June 6) announced that it had issued one consent to assign for residential units and one consent to assign for commercial development in May.
The consent to assign residential development involved 824 units located in Tung Chung, Lantau.
As at the end of May, 11 applications for consent to sell residential units and six applications for consent to sell commercial developments were pending approval.
The applications for consent to sell residential units being processed involved a total of 7,266 units. Among them, one application involving 85 units is estimated to be completed in December. Eight applications, involving 4,723 units, are estimated to be completed in 2008 and the remaining two applications, involving 2,458 units, are estimated to be completed in 2009.
In addition, there were three applications for consent to assign involving 1,418 residential units and one application for consent to assign for commercial development pending approval.
People can obtain up-to-date information on consents to sell units in uncompleted residential or commercial developments issued for the last six months and cases pending approval as at the end of May, by calling the Legal Advisory and Conveyancing Office's Hotline 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/Wednesday, June 6, 2007
Issued at HKT 17:01
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