The Lands Department issued two consents for the sale of 224 residential units of two developments in Kowloon and on Hong Kong Island respectively in July 2005, a spokesman for the Department said today (August 4).
At the end of July, 2005, there were 13 applications for pre-sale consent pending approval, involving a total of 7,339 residential units. Among them, one application involving 120 residential units is estimated to be completed in August, 2005. Ten applications involving 4,760 residential units are estimated to be completed in or before December, 2006. The remaining two applications involving 2,459 residential units are estimated to be completed in February, 2007.
There were nine applications for pre-sale consent for commercial developments pending approval at the end of July, 2005.
In addition, there were four applications for consent to assign involving 4,256 residential units and three applications for consent to assign for commercial developments pending approval.
Members of the public may obtain up-to-date information on consents to sell residential units in uncompleted developments issued for the last six months and cases pending approval at the end of July, 2005, by dialling Legal Advisory & Conveyancing Office's Hotline 2147 5475 or visiting the Lands Department's website at www.info.gov.hk/landsd/.
The name of the developer, its solicitors, authorised person (including the name of the firm), the main superstructure contractor, and, where applicable, the parent company of the developer, the mortgagee bank, the undertaking bank and the financier in respect of individual developments are also available to the public in the form of reports obtainable through the fax-on-demand facilities of the Hotline or the Lands Department website. This information is also available in the sale brochures, printed advertisements and websites.
Intending purchasers are advised to study details of the development and the sale proceedings, through information available from public advertisements, sales brochures and price lists released from the developer before making a deposit for a purchase. The sales brochure for a development (normally containing a Chinese version also) contains also 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, management fee deposit and others.
Ends/Thursday, August 4, 2005
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