Seven pre-sale consents issued in first quarter of 2013
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The Lands Department had issued four pre-sale consents for residential developments and three pre-sale consents for commercial developments in the first quarter of 2013.

The four pre-sale consents for residential developments involved a total of 1,285 uncompleted units. These developments in Yuen Long, Fanling, Tai Kok Tsui in Kowloon and Shau Kei Wan in Hong Kong are all estimated to be completed in 2014.

The Department had also issued two consents to assign for residential developments and one consent to assign for commercial development in the first quarter of 2013. The two consents to assign for residential developments involved a total of 116 units in two developments in Yuen Long and Ma Wan respectively.

As at the end of March 2013, 26 applications for pre-sale consent for uncompleted residential developments and two applications for pre-sale consent for uncompleted commercial developments were being processed.

The 26 applications in respect of uncompleted residential developments being processed involved a total of 13,494 units, broken down as follows.

No. of applications
 
Year in which developments estimated to be completed
 
No. of residential units involved
 
6
 
2013
 
2,011
 
14
 
2014
 
8,928
 
6
 
2015
 
2,555
 

In addition, two applications for consent to assign involving a total of 2,243 residential units 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 quarter, and cases pending approval as at the end of March 2013, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or by visiting the Lands Department's website  (www.landsd.gov.hk). 

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/Monday, April 8, 2013