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The Lands Department today (February 6) announced that 10 applications for consent to sell uncompleted residential developments, involving a total of 2,273 residential units, were pending approval as at the end of January.
Among the 10 applications, two developments involving 96 residential units are estimated to be completed within 2007, seven developments involving 1,993 residential units within 2008 and a remaining development involving 184 residential units in March, 2009.
In addition, there were six applications for consent to sell uncompleted commercial developments pending approval.
There were also three applications pending approval for consent to assign 2,121 residential units.
People can obtain up-to-date information on consents to sell units in uncompleted residential developments issued for the last six months and cases pending approval as at the end of January by dialling 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/Tuesday, February 6, 2007
Issued at HKT 17:01
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