Dubai Marina, Dubai

Dubai Marina, Dubai: buyer questions

How much does property in Dubai Marina cost?

Realty Hunting lists 3 projects in Dubai Marina. Entry prices start at AED 1.2M, about Rs 3.09 Cr at Rs 25.75 to the dirham, and the most expensive project on the list starts at AED 26M. The developers are DAMAC Properties, with Roberto Cavalli (interiors); architect Shaun Killa, Invest Group Overseas (IGO), with Evolutions and LIV Developers (LIV Real Estate Development). Each project page prints the developer's payment plan, the handover date on record and whether the project is registered with the Dubai Land Department.

What does a buyer pay on top of the price in Dubai Marina?

The fees are Dubai's, the same in Dubai Marina as in any other community: a 4% Dubai Land Department transfer fee, a registration fee (the trustee office on a ready unit, Oqood on an off-plan one) and, on a resale, an agency fee that is usually 2%. On the entry price here of AED 1.2M, the DLD fee alone is AED 48K, about Rs 12 lakh. There is no annual property tax, no stamp duty and no capital-gains tax. Off-plan instalments go into a DLD-regulated escrow account (Law 8 of 2007), released to the developer against construction milestones. A buyer paying from India remits under the RBI's Liberalised Remittance Scheme, USD 250,000 per person per financial year.

Does buying in Dubai Marina qualify for the Golden Visa?

The 10-year Golden Visa needs property worth AED 2 million or more, ready or off-plan, with or without a mortgage. 2 of the 3 priced Dubai Marina projects here start at or above AED 2 million; in the others it takes a larger unit or two properties whose combined value crosses the line. The visa covers the buyer, spouse and children, and does not need a sponsor.

The Dubai Marina area guide covers rents, yields and who is buying. The Dubai buying guide walks through the purchase step by step, and every Dubai community is one page up.