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The Lands Department issued a total of three consents between January and March, of which two consents were for the sale of residential units in uncompleted developments and one was a consent to assign a completed residential development.
A spokesman for the Lands Department said today (April 7) that the two pre-sale consents involved a total of 1,046 uncompleted residential units located in Kwai Chung and Sha Tin. These two developments are estimated to be completed by August and September 2007 respectively. The consent to assign residential development involved 511 units in the Hong Kong district.
At the end of March 2006, eight applications for consent to sell uncompleted residential developments involving a total of 4,241 residential units and six applications for consent to sell uncompleted commercial developments were pending approval. Among the eight applications, one residential development involving 652 residential units is estimated to be completed within 2006 and the remaining seven developments involving 3,589 residential units in 2007.
There were also three more applications pending approval for consent to assign 2,656 completed residential units.
Members of the public may 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 end of March 2006 by dialling Legal Advisory and Conveyancing Office's Hotline No. 2147 5475 or on the Lands Department website at www.landsd.gov.hk.
The names 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 contained in the sales brochure, printed advertisements and websites of individual developments.
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 from 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, 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 price lists are not required under the Consent Scheme to be produced.
Ends/Friday, April 7, 2006
Issued at HKT 17:00
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