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The Lands Department today (November 6) announced that it had issued three consents for commercial units in October 2008.
As at the end of October, 21 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 involve a total of 8,436 units. Among them, one development involving 825 units is estimated to be completed in 2008. Thirteen developments involving 3,410 units are estimated to be completed in 2009. Six developments involving 4,187 units are estimated to be completed in 2010. The remaining one involving 14 units is estimated to be completed in 2011.
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 October, by calling the Legal Advisory and Conveyancing Office's hotline at 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 the 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.
Intending purchasers 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, November 6, 2008
Issued at HKT 17:01
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