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One pre-sale consent issued in February
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     The Lands Department announced today (March 6) that it had issued a pre-sale consent for residential development in February.

     The pre-sale consent for residential development involved 253 units in Sheung Shui, which are expected to be completed in 2013.

     As at the end of February, 16 applications for pre-sale consent for uncompleted residential developments and one application for pre-sale consent for uncompleted commercial development were pending approval.

     The 16 applications for pre-sale consent for uncompleted residential developments being processed involved a total of 7,690 units. Among them, three developments involving a total of 143 units are estimated to be completed this year, while 10 developments involving a total of 7,171 units are estimated to be completed in 2013 and two developments involving a total of 327 units are estimated to be completed in 2014. 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 164 residential units and one application for consent to assign for 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 past six months, and cases pending approval as at the end of February, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or on the Lands Department website (www.landsd.gov.hk).
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     Intending purchasers are advised to carefully study details of the development and the sale procedures, through information available from public advertisements, sales brochures 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/Tuesday, March 6, 2012
Issued at HKT 17:01

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