Italy Cluster
I just got to talk to ARY Office in Dubai about possession and hand over issues. Here are the main points of our conversation:
1. The Italy cluster will be handed over by the end of this month (March)
2. Before taking possession, we have to pay maintenance charges @ 9-12 DHM per sq feet + land charges @ 2% of purchasing price.
3. Nakheel will only hand over building for which all the owners have paid maintenance charges, land charges and ownership documents. This means that if a building has 60 apartments owned by 60 different people, all of them must have paid all charges and ARY must have submitted ownership documents. Even if charges and documents for one apartment are missing, Nakheel will NOT hand over the possession
4. It is not compulsory for the owner to be there in Dubai to take possession. The owner, through an Authority Letter, may appoint an agent to take over the possession.
5. The current rent for completed clusters e.g China, is between 45-50 K / Year for one bed apartment.
6. ARY is using First Choice as property management agency (for renting out). The number of First Choice is 0097-150-5026 815
Hope you find this info useful.
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