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The Lands Department announced today (December 6) that it had issued two consents for residential units in November, 2006.
The two consents to sell involved a total of 489 uncompleted residential units located in Yuen Long and Tsuen Wan which are estimated to be completed in April, 2007, and March, 2007 respectively.
The department also issued a consent to assign involving 1,676 residential units in November.
As at the end of November, nine applications for consent to sell residential units and five applications for consent to sell commercial developments were pending approval.
The applications for consent to sell residential units being processed involved 2,377 units. Among them, one application involving 11 units is estimated to be completed in 2006. Three applications, involving 925 units, are estimated to be completed in 2007 and the remaining five applications, involving 1,441 units, are estimated to be completed in 2008.
In addition, there were two applications for consent to assign involving 1,677 residential units pending approval.
People 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 the end of November, by calling the Legal Advisory and Conveyancing Office's Hotline No. 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, December 6, 2006
Issued at HKT 17:00
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