Dubai Developers to collect Property Transfer registration Fees
11 Feb 2014
The Dubai land department has called time on owners of property in the Emirate not registering properties and paying transfer registration fees. With regulations being put in place over the last 12-18 months with all government departments including DEWA and the tenancy registration department Ejari requiring to see a title deed before registering a tenancy now for brand new off plan properties sold by developers it is a requirement by the developer to collect the transfer fees on initial reservation.
Transfer fees were doubled in the latter part of 2013 from 2-4 % to stop the process of investors flipping properties, it was usual practice on off plan properties for the buyer to pay the sellers registration fees as well as their own and with agents fees of 2% this equalled a princely sum of 10% buying fees..
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