Dubailand Residence Complex, Dubai

Dubailand Residence Complex, Dubai: buyer questions

How much does property in Dubailand Residence Complex cost?

Realty Hunting lists 6 projects in Dubailand Residence Complex. Entry prices start at AED 500K, about Rs 1.29 Cr at Rs 25.75 to the dirham, and the most expensive project on the list starts at AED 1.19M. The developers are Leos Developments (LEOS International), Deca Properties (Property Finder lists the project as 'Milos by Karma' under Karma Development), Imtiaz Developments and Leos Developments (LEOS International), with Wise Jasmine Limited. 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 Dubailand Residence Complex?

The fees are Dubai's, the same in Dubailand Residence Complex 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 500K, the DLD fee alone is AED 20K, about Rs 5 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 Dubailand Residence Complex 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. None of the 6 priced Dubailand Residence Complex projects here starts at that level, so in Dubailand Residence Complex the visa comes from a larger unit, a villa or townhouse, or two properties whose combined value crosses AED 2 million. The visa covers the buyer, spouse and children, and does not need a sponsor.

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