Right now buyers can set 4% DLD (Dubai Land Department) which makes these deals unbeatable in the market. The blog aims at discussing various aspects about these fantastic offers and how best they can be utilized by buyers.
What is the DLD Fee?
The Dubai Land Department (DLD) collects a registration fee, referred to as DLD fee, on any trade of land in Dubai. It is usually about 4% from the propertyβs price at purchase and paid by a buyer. When it comes to owning land within the city of gold, one has to pay this fee so as to get their name on the title deed.
Normal DLD Fee Structure:
In Dubai, the normal DLD fee structure is as follows:
- 4% of the propertyβs purchase price (minimum AED 2,000)
For example, if you purchase a property worth AED 1,000,000, the normal DLD fee would be:
- 4% of AED 1,000,000 = AED 40,000
How is DAMACβs 4% DLD Waiver Beneficial?
The 4% DLD waiver from DAMAC is a great incentive for buyers since they will not spend much when making a property purchase. Consequently, this allows them to save substantially on the cost of their house or any other property since there is a 4% discount on the DLD fee for the buyers.
Using the same example as above, with DAMACβs 4% DLD waiver, the DLD fee would be:
- 0% of AED 1,000,000 = AED 0 (waived)
This means that buyers can save AED 40,000 on the DLD fee, which can be used towards other expenses or invested elsewhere.
DAMACβs Exclusive Projects with 4% DLD Discount: Limited Time Offer
- Safa 2
- DAMAC Volta
- DAMAC Altitude
- DAMAC Golf Greens
- Cavalli Estate
- Damac Bay by Cavalli
- DAMAC Suncity
Steps to Avail the DLD Waiver in Dubai
In order to reap the benefits of the 4% DLD waiver for off-plan projects from DAMAC, it is quite simple and practically requires the following 5 steps to ensure you take advantage of a limited time offer:
- Choose the DAMAC Project That You Like: You have the ability to choose from eligible DAMAC projects including, Safa 2, DAMAC Volta, DAMAC Altitude, DAMAC Golf Greens, Cavalli Estate, Damac Bay by Cavalli, or DAMAC Suncity.
- Make Contact with the DAMAC Sales Team: You can either reach out to DAMAC Properties via their website or visit their sales office and ask a team member to confirm that the project you are interested in is eligible and that the DLD waiver is still valid for this project.
- Confirm DLD Waiver Eligibility: You will need to provide some form of ID and/or required documents to confirm your eligibility for the waiver.
- Reserve Your Property: You will sign the reservation agreement and pay the reservation fee as agreed upon with DAMAC.
- DLD Registration: When you register the property with Dubai Land Department, the 4% DLD fee will be waived, allowing you to save some immediate costs.
Comparing DLD Waiver Properties with Standard Purchases
| Characteristic | DLD Waiver Properties | Standard Property Purchases |
|---|---|---|
| DLD Registration Charge | Waived fully or partially (e.g., 50% or 100%) by the developer. | Buyer pays at closing; typically 4% of property value. |
| Upfront Costs | Lower upfront costs because the fee has been waived by the developer. | Higher upfront costs because of the DLD fee being paid. |
| Eligibility | Available on off-plan properties, during promotional offerings, or specific a developer program. | Available on off-plan and ready-to-move properties. |
| Developers | Emaar, DAMAC, Nakheel, Sobha, etc. most often offer DLD waivers during sales promotions. | Various developers offer without promotional incentive. |
| Payment Flexibility | Some developers allow DLD fees to be paid in the future or payments in installments. | Immediate payment made during the transaction. |
| Property Type | Generally off-plan properties without DLD waivers on properties ready for occupancy during special promotions. | Available on off-plan and ready-to-move properties. |
Closure
Investing in the luxurious properties of Dubai with DAMACβs 4% DLD off plan discounts is an offer that cannot be missed. Since there are only a few units available, it is crucial to move quickly to avoid missing out on the chance. For both investors and end-users, these deals have great savings opportunities and enable them to possess luxury at a lower price. Donβt let this amazing opportunity pass you by β get in touch with DAMAC Properties now for more information on these exclusive offers.
