Oqood

[Stephendxb]

Have any members voluntarily applied for Oqood or have any members been requested to comply with the registration? If so what fee was paid and to whom, the developer or the lands department directly.

 

[escrow_officer]

http://www.propertyforum.com/forum/dubai-property/10604-escrow-related-information-33.html

Unit Registration Procedure Through Oqood.​

1. All amounts due till transfer date must be cleared before the transfer takes place.



2. Attached is the transfer form which must be submitted to us completely filled with all details along with Passport copy of the new buyer.



3. All Previous original receipts must be submitted to us.



4. Previously issued Reservation form & Sale & Purchase Agreement should be submitted

to us.



5. Post dated cheque for next installment should be submitted to us.



6. Administration fee of Dhs. 5000/= to be paid.



7. Dhs. 1000/= each (Oqood registration fee) to be paid by both buyer & seller.



8. After Clearing all the above dues both buyer and seller has to come to the Developer’s office to

Obtain the Developer’s NOC.



9. Then again the buyer and the seller has to go to the Dubai Land’s Department and the seller will pay 2% of purchase price to Lands Department to get his Oqood Registration Form attested, before transfer since unit is registered under his name.



10. Once the Registration is attested a transfer fee of 2% on the sale price has to be paid to the Lands Department for transferring unit under the new buyer’s name.

 

[mpat]

Hi Escrow / stephen

my developer is asking 1000 DHS administration fee for his own documentation work. Is it possible to do registration by the buyer himself in order to save 1000 DHS if the buyer is locally present in Dubai? There is another 1000 DHS fee by land department for pre registration.
Pls advice.
Thanks

 

[Stephendxb]

Mpat

Thanks for the reply.

Just to recap I am being asked to pay a AED 5,000 flat fee. Are you being asked for more? or can an individual register Oqood with the LD directly and save any additional fees that a developer might try and charge.

I had to register a mortgage at the Lands Department the other day and they kindly charged me AED 7600 for the privilege.

 

[escrow_officer]

can an individual register Oqood with the LD directly and save any additional fees that a developer might try and charge.

No
Only developers are allowed to do so.

Regards

 

[Stephendxb]

No
Only developers are allowed to do so.

Regards

Thanks Escrow...and the fee is AED 5,000 ( nothing more, nothing less )

 

[mpat]

Hi guys
Oqood registration fee is only 1000 DHS, I got it written by the developer thru Land department approval.

 

[Stephendxb]

Mpat,

Thanks. It appears the developers have different agreements with the Land Department. My developer has just assured me the fee of 5,000 is a "one time fee" that covers all the costs and they are not keeping a single Dirham. The system is expensive apparently...all I can say it must be some system if everyone is paying 5,000 WOW.

It just wish the Land Department would post the fee structure...or breakdown. What happened to transparency. Its no wonder investors are very wary of developers.

Its paid now, so that's my grumble over.

 

[g4set]

Oqood registration fee

Hi Guys
Im buying a 1 bed flat in Int city 3 through gpd developments
and out of the blue I recieve a payment demand of 1350 AED for registration
My development Park Lane hasnt even been started yet!
I'm very warry of paying these fees before building work has started as Ive already put 30% deposit down and things are very tight at the moment.
any comments?
G4set

 

[nafesa noor-boksh]

Park Lane International City Phase 3

Hi Guys
Im buying a 1 bed flat in Int city 3 through gpd developments
and out of the blue I recieve a payment demand of 1350 AED for registration
My development Park Lane hasnt even been started yet!
I'm very warry of paying these fees before building work has started as Ive already put 30% deposit down and things are very tight at the moment.
any comments?
G4set

Hi

I have bought a one bed apartment at Park Lane, Internationaly City too. The same thing has happened to me this morning. Got a letter out of the blue from GPD asking me to do the same.

I still not sure what to do and why.

Please help or advise. Thank you.

 

[ebrahim1]

I also have the same in Park Lane and received the letter. I am thinking about the replying saying they wont get anything until completion. The building is overdue, they have not started any development work, who knows where the market is heading but they are asking for money! Crazy as far as I am concerned!

 

[nafesa noor-boksh]

Ogood Letter

I also have the same in Park Lane and received the letter. I am thinking about the replying saying they wont get anything until completion. The building is overdue, they have not started any development work, who knows where the market is heading but they are asking for money! Crazy as far as I am concerned!

I know there are alot of us out there with property in Park Lane. I don't know what to do. Just waiting to see what happens next. It is crazy, 3 and a half years of stress and worry.

 

[lighthouse]

Lighthouse

I also have the same in Park Lane and received the letter. I am thinking about the replying saying they wont get anything until completion. The building is overdue, they have not started any development work, who knows where the market is heading but they are asking for money! Crazy as far as I am concerned!

We are buying in Eton Residences.
I have also received a request for 1350
It does sound the alarm bells!
You wonder what the next surprise will be.
Has anyone paid up yet?

 

[muqarabin]

We are buying in Eton Residences.
I have also received a request for 1350
It does sound the alarm bells!
You wonder what the next surprise will be.
Has anyone paid up yet?

Hi Guys,

I am in with you at Intl City P3. My purchase is at Cambridge Residence E32.

Just like you guys I got the Oqood registration fee (AED1350) request two weeks ago. Luckily I as in the UK and promptly got on the phone to GPD director to ask him what the score is. I did pose to him that I live in Dubai and that I can see some progress in their project (as I go out to int'l City to check on it frequently) but it is at a snail's pace. He said that they are likely to be working on the 12 months slippage allowance, so basically projects completion date is pretty much your PSA+12months. He tried to assure me that their own project will be delievered.

One thing he did say was that, whilst investors might be weary of not getting their projects completed, due to tight credit, they are also weary of completing all their units and many investors defaulting and not able to complete the purchase, hence leaving them with a lot of units unpaid for.

Anyhow, that is the gist of the discussion I had with him. I havent been out to the project in a while but before I hand over any Oqood registration, I will make another trip out there this weekend and see what has happened since the last 5 weeks I was last out there.

I will post any updates and worthwhile pictures soon.

Cheers

 

[stevie lavery]

Oqood registration

Hi Guys

Did and of you pay your Oqood registration fees to GPD for International City 3. I have purchased studio in Kensington for 60k and put down 18k deposit over 3 years ago. They sent me an email demanding oqood payment within next 14 days otherwise I am at default with payment which is a bit rich considring original time for completion was June 09.

I don't know what to do, with purchase of property, and have thought of just cutting my losses and not completing.

Let me know your thoughts, happy to take private

Regards

 

[nafesa noor-boksh]

Hi Guys

Did and of you pay your Oqood registration fees to GPD for International City 3. I have purchased studio in Kensington for 60k and put down 18k deposit over 3 years ago. They sent me an email demanding oqood payment within next 14 days otherwise I am at default with payment which is a bit rich considring original time for completion was June 09.

I don't know what to do, with purchase of property, and have thought of just cutting my losses and not completing.

Let me know your thoughts, happy to take private

Regards

I completely understand. I'm in the same situation and want to do the same thing. I bought with GPD at International City Phase 3 in Park Lane in Feb 2007, just had enough.

Nafesa

 

[ebrahim1]

Hello,

I have an apartment in park lane also. I replied to GPD a few days ago with the following email:

+++++++++++++++++++++++++++++++++++++++++++++++++++++++

Dear GPD Customer Services,

To Date - 2 Years and 6 Months after my payment, the building that was
supposed to be delivered last month still has not left the ground. I
think its very unfair that you are asking for payment of 'a fee
charged by RERA that is required prior to the issue of the titile deed
when, as a customer, I have no idea when this title deed is going to
be issued anyway. I am aware that without this deed, I will be unable
to sell or rent the property but at the moment my concern is when im
going to receive this property.

I have no problem with bearing all costs associated with registration
as per the contract - but I will not register when I have no
confidence in whether or not the property (promised last month that
has not left the ground) will be delivered and when.

My suggestion is that you add this registration fee to the final
payment and when I see progress and we are closer to completion, the
payment will be made.

+++++++++++++++++++++++++++++++++++++

I will let you know once I have had a reply what the response is.

E.

 

[stevie lavery]

thanks for the reply ebrahim - will wait to see what they say and will send similar email myself

stevie

Hello,

I have an apartment in park lane also. I replied to GPD a few days ago with the following email:

+++++++++++++++++++++++++++++++++++++++++++++++++++++++

Dear GPD Customer Services,

To Date - 2 Years and 6 Months after my payment, the building that was
supposed to be delivered last month still has not left the ground. I
think its very unfair that you are asking for payment of 'a fee
charged by RERA that is required prior to the issue of the titile deed
when, as a customer, I have no idea when this title deed is going to
be issued anyway. I am aware that without this deed, I will be unable
to sell or rent the property but at the moment my concern is when im
going to receive this property.

I have no problem with bearing all costs associated with registration
as per the contract - but I will not register when I have no
confidence in whether or not the property (promised last month that
has not left the ground) will be delivered and when.

My suggestion is that you add this registration fee to the final
payment and when I see progress and we are closer to completion, the
payment will be made.

+++++++++++++++++++++++++++++++++++++

I will let you know once I have had a reply what the response is.

E.

 

[muqarabin]

GPD have been doing some work out in IC3 however it is very very slow and also I havent seen any construction updates since April. I went to their office in Dubai last week to pay my Oqood fees in cash simply because I am not willing to take the chance of them saying my contract is null & void due to lack of payment. It actually does state this in the PSA and as a result they would have a case against me if I did not pay. The way I look at it is that for the GBP 38.5K I have already paid upfront, AED1350 will be a a very cheap reason to lose all that investment.

I am not saying I have 100% confidence that they will complete the project but my gut feeling is that it is better to risk another AED1350 to make sure I wont definitely lose GBP 38.5K. Of course if they come back asking for some other exhorbitant fee then I would have to re-think.

ebrahim, please let us know what response you get back. My feeling is that you will receive a response from Joy Kirby.