Town Square, Dubai

Town Square, Dubai: buyer questions

How much does property in Town Square cost?

Realty Hunting lists 7 projects in Town Square. Entry prices start at AED 631K, about Rs 1.62 Cr at Rs 25.75 to the dirham, and the most expensive project on the list starts at AED 1.78M. The developer is Nshama. 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 Town Square?

The fees are Dubai's, the same in Town Square 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 631K, the DLD fee alone is AED 25K, about Rs 6 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 Town Square 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 7 priced Town Square projects here starts at that level, so in Town Square 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.

The Town Square 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.