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The Lands Department announced today (October 7) that it had issued two pre-sale consents to sell residential units in uncompleted developments and one consent to assign for residential units in the third quarter of 2010.
The two pre-sale consents involved one residential development in Ma On Shan and another in Yuen Long, comprising a total of 1,480 units, which are estimated to be completed in the first quarter of 2012. The consent to assign involved 1,688 residential units in Tseung Kwan O.
As at the end of September 2010, 18 applications for pre-sale consent for uncompleted residential units and four applications for pre-sale consent for uncompleted commercial developments are being processed.
The 18 applications for pre-sale consent for uncompleted residential units being processed involved a total of 8,059 units. Among them, three developments involving a total of 243 units are estimated to be completed in 2010, six developments involving a total of 3,830 units are estimated to be completed in 2011, and eight developments involving a total of 3,937 units are estimated to be completed in 2012. For the remaining development involving 49 units, the estimated completion date is to be updated by the developer.
In addition, one application for consent to assign involving 1,360 residential units and one application for consent to assign for a commercial development are being processed.
Members of the public can obtain up-to-date information on pre-sale consents for uncompleted residential developments issued for the last six months, and cases pending approval as at the end of September 2010, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or on the Lands Department website (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 provided in both English and Chinese also contains the main points of the Deed of Mutual Covenant including information on common parts, undivided shares, terms of appointment of manager, principle/basis of fixing management fee, apportionment of management expenses, management fee deposit, retained areas (if any) and other relevant details, as well as any special features of the Government land grant, which intending purchasers are recommended to read carefully.
Ends/Thursday, October 7, 2010
Issued at HKT 17:00
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