Property Registration in Dubai: Things To Keep In Mind
Purchasing a property in Dubai could be one of the best decisions you’ll make in your life. It is never a question why you need to cosider one when the luxurious city and its lifestyle has more than what meets the eye. But when buying a property in Dubai, you will be required to register the property to the Dubai Land Department (DLD). The DLD is the main goverment agency that safeguards processes and transactions of all Dubai real estate agencies that involves selling and purchasing of properties.
For example, if you happen to come across new projects of Emaar – the leading estate developers in UAE – such as Emaar Beachfront Apartments or any other projects of Emaar, a registration from the DLD will finally hand over the property to your hands.
To make the most out of your purchase, here are things you need to keep in mind when you register your property in Dubai:
WHAT TO BRING
- Original and photocopy of Passport ID of the Buyer
- Original Title Deed
- Original No Obejection Certificate or NOC from the Developer (applicable for freehold only)
- The Sales and Purchase Agreement (or Certificate of Property Ownership)
- Manager’s Cheque (in the Seller’s name)
FEES TO PAY
- A Transfer Fee of 4% of the total property value (both the seller and buyer pay 2% each) and DHS 540.
- If the total property value is more than or equal to DHS 500,000, a service fee of DHS 4000 will be required. If total property value is lower than DHS 500,000, a service fee of DHS 2000 is required.
- Both parties (seller and buyer) are REQUIRED to be present at the Project Registration Centre at the Dubai Land Department to register the sale of the property.
- The Buyer must then present his or her passport and copy of the full contact details.
- Both the buyer and the seller will proceed to registration. The seller will receive the payment for the total sale amount from the buyer in front or in the presence of DLD official/s.
- The department will register the sale after details of the sale are placed in an electronic form (e-form) and after it is signed by the buyer and the seller.
- Both parties pay the service fees. A new title deed will be issued in the buyer’s details with a map as to the location of the said property.
- Should officials question the total value of the sale, both parties will be referred to the DLD’s Appraisal Division. This is to make sure that a property’s value is not abused which will be re-appraised by officials.
WHY SHOULD I REGISTER MY PROPERTY?
You don’t have a title to your property purchase if it hasn’t been registered in the first place. If you are unable to register a property you just bought, a developer may sell it to others anytime. Having your property registered provides you legal grounds to fully own and privatize your land and will keep you from the penalties and fines that you might face. Also when registering, the DLD may question your developer if a value might be too high or other illegal intentions before you even get involved in it.
What’s better than purchasing a property in Dubai? It is when you are able to make the most out of it. A satisfying and perfect purchase is to legally own it with the help of the government.