OCEAN TOWER: YOUR COASTAL OASIS OF ELEGANCE
GOVERNMENT FEES:
Ocean Tower by Al Ansari – DLD Fees: Expect a 4% fee on the purchase price, along with an administrative charge that varies depending on the property type (apartments/offices: AED 580, plots: AED 430, off-plan projects: AED 40).
PROPERTY REGISTRATION CHARGES:
Ocean Tower by Al Ansari – Property Registration Charges: Expect a 4% Dubai Land Department (DLD) fee on the purchase price, along with an administrative charge that varies based on property type (apartments/offices: AED 580, plots: AED 430, off-plan projects: AED 40). Additionally, property registration charges depend on the property value, with properties under AED 500,000 incurring a AED 2,000 fee plus 5% VAT, while those above AED 500,000 are subject to a AED 4,000 fee plus 5% VAT.
MORTGAGE REGISTRATION FEES (IF APPLICABLE):
When financing a property purchase at Ocean Tower by Al Ansari, buyers are required to pay a mortgage registration fee to the Dubai Land Department (DLD). This fee is calculated as 0.25% of the loan amount, plus an additional AED 290 administrative charge. For example, if the loan amount is AED 1,000,000, the mortgage registration fee would be AED 2,500 (0.25% of 1,000,000) plus AED 290, totaling AED 2,790. These fees are standard across Dubai and are applicable to all financed property
REGISTRATION DEADLINE:
Remember, all property acquisitions in Dubai must be registered with the Dubai Land Department (DLD Dubai) in Deira within 60 days of the deal. Failing to do so renders the purchase invalid. The 4% DLD Dubai fee is ideally split between buyer and seller, but often the buyer covers it entirely. Buyers are also responsible for the Property Registration Fee.
A Vibrant Community Haven
Beyond mere passageways, the corridors of Ocean Tower are designed to be vibrant communal spaces, where neighbours become friends and stories are shared. These elegant hallways are the arteries of a living, breathing community, fostering a deep sense of belonging and connection.
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