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Freehold Registration Fee of 3.5% of the purchase price!!

Discussion in 'Dubai property' started by Greco, Jul 28, 2008.

  1. Greco

    Greco New Member

    Ok...here we go with all the hidden fees...
    Dubai government might not tax as per se for you purchasing a property but they will charge 1% of the value for the deeds to register your property. Fair enough.

    Did you know however, that you need to pay 3.5% (!!!) of the total purchase value as a "Freehold Interest Registration Fee" ??
    I was just asked by my developer that I need to pay 3.5% to the "DIFC Land Regisrty" as the property is part of the Dubai Interantional Financial Center Real Property Regulations.

    In the contract at the time of purchase it mentioned that there was going to be a fee for the registration of the property within the DIFC jurisdiction but did not mention the precise percentage...

    But seriously 3.5%!!!! Can you image how much money that represents for properties in the DIFC district that are presently going for Dhs.3500 per square foot!!!

    Any help or info on the matter will be appreciated!
     
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