#UNDER C: CANAL RESIDENCE WEST, 12F-20F Res (5 towers) (Sports City) - Page 8

heavensent · January 10th, 2009, 09:08 AM

also recieved the letter. so many conflicting messages with developers and RERA. As of now, according to RERA off plan registration is free. You oly ave to pay a % fee for registration when the property is ready for the title deed.

Peter Pan in Dubai · January 11th, 2009, 06:31 AM

My letter says 1% & when contacted DSC, they said its 1% to be paid top them & 1% which I must pay to Dubai bank (my mortage lander) bringing the total fee to 2%.
I inquired if this is in place of the 2% registration of deed at the completion of property & they said yes. However the letter I received clearly mentions that this fee is in addition to any other fees due on completion. It all looks very fishy. I am not paying until I get some answers from the Land Department & Rera.
I will let you guys know if I can get a clear answer from the authorities. But I doubt anyone knows a shit.
One lesson to learn for all of us... next time we want to spend our money...stay away of Dubai...

***234sale*** · January 11th, 2009, 07:26 AM

If its not in the orginial contract,, you shouldn't have to pay it.

Peter Pan in Dubai · January 11th, 2009, 12:48 PM

1. Regarding the 2% Registration fee for the Land Department Interim:
The law clearly says the 2% fee should be split fifty fifty between the buyer & seller (Law No. (13) of 2008). DSC insists that the buyer pays the entire amount since the Canal Residence sales contract includes a clause saying: "any additional fees from the authorities must be paid solely by the buyer". So this contract gives somehow the right to DSC to break the law ? I whish some lawyer in this forum would advise us on that. DSC "believes" this fee replaces the final title deed registration on completion date but it could not confirm this.
To clarify the letter sent from DSC: they ask for 1% payment since this is what is supposed to be their share of the fees (the law stipulates that the seller pays this 1%). Dubai Bank or whichever bank is financing CR will send a similar letter to you asking for another 1% as the buyers fee (the other 1% that the buyer must pay). In this case, we are paying the entire fee ourselves 1% to the developer & 1% to the bank. Outrageous but true.
2. Payment Plan:
DSC promised that the payment plan is being rescheduled (on the demand of Dubai Bank !!!) & the bank will advise mortgagees soon about the new plan which will be linked to the construction phase as per the UAE laws. For those (like me) who have already paid much more than what the law dictates for a building that is still in the pilling phase, must talk to the bank for potential adjustments.
3. Construction Status:
Construction is ongoing. DSC sent me some photos but I got to figure out how to upload it on this site. I have scheduled Sunday next week for CR site check. I will take photos unless it is not allowed by DSC.
4. Completion Date:
DSC says April to June 2010 for phase 1
5. Phase 2:
Is being built by UNEC as well. Construction has started.

PS: all statements above have been given by Mr. Amer Khan & Mr. Rajesh Hegde from DSC real estate department.

MrCricket · January 13th, 2009, 05:35 AM

Peter Pan I have an unit in Med.

And my unit is financed from Dubai Bank.

I am with you incase if you think it will be of some use if we approach DSC or DUBAI BANK as a small group.

Peter Pan in Dubai · January 13th, 2009, 06:20 AM

Quote:

Originally Posted by MrCricket

Peter Pan I have an unit in Med.

And my unit is financed from Dubai Bank.

I am with you incase if you think it will be of some use if we approach DSC or DUBAI BANK as a small group.

Dear MrCricket,

I have sent a mail to Miss Sabeena Yousuf, the person in charge of CRW at Dubai Bank. her email is sabeenayousuf@DubaiBank.ae
You (and all the CRW owners on this forum) may want to drop her an email asking to review your payment plan (construction linked), seek interest compensation & inquire about this 2% registration fee.
The more we are to communicate with Dubai Bank & DSC the stronger our voice reaches.
Let me know how it goes...

MrCricket · January 13th, 2009, 07:27 AM

I was paying interest for the amount which has already been paid to Sports city till last month.

Now they said you can pay the accumulated interest at the time of hand over.

I wanted to know will they charge me interest over interest?

amplesou · January 13th, 2009, 05:21 PM

Quote:

Originally Posted by Peter Pan in Dubai

Dear MrCricket,

I have sent a mail to Miss Sabeena Yousuf, the person in charge of CRW at Dubai Bank. her email is sabeenayousuf@DubaiBank.ae
You (and all the CRW owners on this forum) may want to drop her an email asking to review your payment plan (construction linked), seek interest compensation & inquire about this 2% registration fee.
The more we are to communicate with Dubai Bank & DSC the stronger our voice reaches.
Let me know how it goes...

thanks for your efforts i don,t know if you have recieved my private message to you the other day?
I have e-mailed sabeena with my issues i.e. 2% real estae charges and having paid 60 % already but no flat just more waiting !!

Peter Pan in Dubai · January 14th, 2009, 06:12 AM

Quote:

Originally Posted by amplesou

thanks for your efforts i don,t know if you have recieved my private message to you the other day?
I have e-mailed sabeena with my issues i.e. 2% real estae charges and having paid 60 % already but no flat just more waiting !!

I did receive your private message & have replied to your private email & sent the photos. Kindly check & let me know ...

aazain · January 14th, 2009, 06:43 AM

Quote:

Originally Posted by MrCricket

I was paying interest for the amount which has already been paid to Sports city till last month.

Now they said you can pay the accumulated interest at the time of hand over.

I wanted to know will they charge me interest over interest?

The accumulated interest will be added as Principal and therefore, there will be interest on interest. This is how banks make money

MrCricket · January 14th, 2009, 07:09 AM

Thanks for the info.

So it is better off that i pay the interest every month rather than allowing it to get accumulated and ending up paying lot more extra.

Peter Pan in Dubai · January 14th, 2009, 07:51 AM

Quote:

Originally Posted by MrCricket

Thanks for the info.

So it is better off that i pay the interest every month rather than allowing it to get accumulated and ending up paying lot more extra.

Its even better if we negociate with the developer to compensate for this interest since its due to his unaccepted delays that we end up paying much more than planned... remember that CRW was supposed to be handed over in December 2008 & therefore principal repayment should have started by now.

MrCricket · January 14th, 2009, 07:57 AM

I agree with you peter.

But the fact is it will be of no use unless we form a small group and approach the developer with common concerns.

Trust me approaching the developer individually will have no effect.

amplesou · January 14th, 2009, 06:06 PM

Yeah! count me in!

Quote:
Originally Posted by bizzybonita
I thought you was luck down for good May 3rd, 2012 08:06 PM ... Thread's Playa

You sir (BIZZYBONITA) are appointed to moderate here NOT sit back and mess with, and BULLY members.

You have done this repeatedly with myself,despite my contribution to the D.Sc. threads and other since 2007..

My contribution to DSc is less because of your single handed ,sick minded bulling attitude imo!

take a look at your pointless tirade against me since the turn of the year below

I have repeatedly asked you and atlind, for your help for improvements to the Mess ,which your lack of "moderation" has led too in the first place on the DSc threads....

I HAVE DONE NOTHING WRONG TO DESERVE THIS !!!!!!

Profile Infraction
Reason: Random Post
July 3rd, 2011 06:06 PM by bizzybonita 3 / May 3rd, 2012 06:06 PM

Profile Infraction
Reason: Inappropriate Language
February 7th, 2011 09:28 PM by bizzybonita 1 / Expired

Profile Infraction
Reason: Posting random stuff/opening random threads
February 4th, 2011 02:21 PM by bizzybonita 2 / Never

Profile Warning
Reason: Wrong attitude
February 4th, 2011 02:17 PM by bizzybonita 0 / Expired

Bizzybonita your are one sick human being...

Peter Pan in Dubai · January 15th, 2009, 06:47 AM

Ok. I suggest to write a letter to DSC requesting interest compensation. I'll share it with you guys ones I have something. We must get as much names as possible on that petition.

I have no clue how many CRW owners are on this forum. If you are a CRW owner on a mortgage finance & wish to approach DSC with compensation over the interest you are currently paying till completion (which wont come before May 2010 at the earliest), please make yourself noticed on this forum

heavensent · January 15th, 2009, 09:53 AM

count me in... we have to act collectively... whats the next plan of action....

by the way i have mortgaged by tamweel and paid 85% thus far... and im very unhappy

Steverobo · January 15th, 2009, 10:27 AM

Count me in.
I have paid 65% without any finance but I cant see any reason why they shouldnt compensate for the delays or make some sort of financial gesture.
With so many laws and confusion would it be wise to collectively seek professional advise regarding the 2% etc, and split the cost ?
What are the consequences of not paying by 17th Jan ?
Steve

MrCricket · January 15th, 2009, 10:31 AM

Count me in too

1 Bed unit in Med and Mortgaged from Dubai Bank.

Should we Start a group on Facebook or something?

so that we can put our personnel details and unit details as well.

Peter Pan in Dubai · January 15th, 2009, 12:08 PM

Quote:

Originally Posted by Steverobo

Count me in.
I have paid 65% without any finance but I cant see any reason why they shouldnt compensate for the delays or make some sort of financial gesture.
With so many laws and confusion would it be wise to collectively seek professional advise regarding the 2% etc, and split the cost ?
What are the consequences of not paying by 17th Jan ?
Steve

Aint a lawyer neither the UAE law is clear. But DSC told me if we don't pay by 17th of January, we may face the situation where the Land Department will on completion value the 2% on the prevailing market levels rather than my purchased price. Well, I laughed & said that this scenario is excellent in current circumstances. So by not paying now, I will end up on completion paying much less if the market keeps sliding

Steverobo · January 15th, 2009, 12:43 PM

Where has the 17th come from ?
We were given 2 weeks notice ! How long have DSC known about it ?
Steve

January 11th, 2009, 07:26 AM	#143
*234sale* Registered User Join Date: Sep 2006 Location: Dubai/Brighton Posts: 8,725 Likes (Received): 3	If its not in the orginial contract,, you shouldn't have to pay it. __________________ my UAE updates ©skyscraperlist.com. my photography 500px

January 11th, 2009, 12:48 PM	#144
Peter Pan in Dubai Registered User Join Date: Aug 2008 Posts: 44 Likes (Received): 0	Outcome of my meeting with DSC 1. Regarding the 2% Registration fee for the Land Department Interim: The law clearly says the 2% fee should be split fifty fifty between the buyer & seller (Law No. (13) of 2008). DSC insists that the buyer pays the entire amount since the Canal Residence sales contract includes a clause saying: "any additional fees from the authorities must be paid solely by the buyer". So this contract gives somehow the right to DSC to break the law ? I whish some lawyer in this forum would advise us on that. DSC "believes" this fee replaces the final title deed registration on completion date but it could not confirm this. To clarify the letter sent from DSC: they ask for 1% payment since this is what is supposed to be their share of the fees (the law stipulates that the seller pays this 1%). Dubai Bank or whichever bank is financing CR will send a similar letter to you asking for another 1% as the buyers fee (the other 1% that the buyer must pay). In this case, we are paying the entire fee ourselves 1% to the developer & 1% to the bank. Outrageous but true. 2. Payment Plan: DSC promised that the payment plan is being rescheduled (on the demand of Dubai Bank !!!) & the bank will advise mortgagees soon about the new plan which will be linked to the construction phase as per the UAE laws. For those (like me) who have already paid much more than what the law dictates for a building that is still in the pilling phase, must talk to the bank for potential adjustments. 3. Construction Status: Construction is ongoing. DSC sent me some photos but I got to figure out how to upload it on this site. I have scheduled Sunday next week for CR site check. I will take photos unless it is not allowed by DSC. 4. Completion Date: DSC says April to June 2010 for phase 1 5. Phase 2: Is being built by UNEC as well. Construction has started. PS: all statements above have been given by Mr. Amer Khan & Mr. Rajesh Hegde from DSC real estate department.

January 14th, 2009, 06:06 PM	#154
amplesou BANNED Join Date: Mar 2007 Location: Dubai/London Posts: 1,526 Likes (Received): 2	payments Yeah! count me in! Quote: Originally Posted by bizzybonita I thought you was luck down for good May 3rd, 2012 08:06 PM ... Thread's Playa You sir (BIZZYBONITA) are appointed to moderate here NOT sit back and mess with, and BULLY members. You have done this repeatedly with myself,despite my contribution to the D.Sc. threads and other since 2007.. My contribution to DSc is less because of your single handed ,sick minded bulling attitude imo! take a look at your pointless tirade against me since the turn of the year below I have repeatedly asked you and atlind, for your help for improvements to the Mess ,which your lack of "moderation" has led too in the first place on the DSc threads.... I HAVE DONE NOTHING WRONG TO DESERVE THIS !!!!!! Profile Infraction Reason: Random Post July 3rd, 2011 06:06 PM by bizzybonita 3 / May 3rd, 2012 06:06 PM Profile Infraction Reason: Inappropriate Language February 7th, 2011 09:28 PM by bizzybonita 1 / Expired Profile Infraction Reason: Posting random stuff/opening random threads February 4th, 2011 02:21 PM by bizzybonita 2 / Never Profile Warning Reason: Wrong attitude February 4th, 2011 02:17 PM by bizzybonita 0 / Expired Bizzybonita your are one sick human being... Last edited by amplesou; July 9th, 2011 at 10:50 PM.

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January 10th, 2009, 09:08 AM	#141
heavensent Registered User Join Date: Sep 2008 Posts: 18 Likes (Received): 0	also recieved the letter. so many conflicting messages with developers and RERA. As of now, according to RERA off plan registration is free. You oly ave to pay a % fee for registration when the property is ready for the title deed.

January 11th, 2009, 06:31 AM	#142
Peter Pan in Dubai Registered User Join Date: Aug 2008 Posts: 44 Likes (Received): 0	My letter says 1% & when contacted DSC, they said its 1% to be paid top them & 1% which I must pay to Dubai bank (my mortage lander) bringing the total fee to 2%. I inquired if this is in place of the 2% registration of deed at the completion of property & they said yes. However the letter I received clearly mentions that this fee is in addition to any other fees due on completion. It all looks very fishy. I am not paying until I get some answers from the Land Department & Rera. I will let you guys know if I can get a clear answer from the authorities. But I doubt anyone knows a shit. One lesson to learn for all of us... next time we want to spend our money...stay away of Dubai...

January 13th, 2009, 05:35 AM	#145
MrCricket BANNED Join Date: Jan 2009 Posts: 28 Likes (Received): 0	Peter Pan I have an unit in Med. And my unit is financed from Dubai Bank. I am with you incase if you think it will be of some use if we approach DSC or DUBAI BANK as a small group.

January 13th, 2009, 07:27 AM	#147
MrCricket BANNED Join Date: Jan 2009 Posts: 28 Likes (Received): 0	I was paying interest for the amount which has already been paid to Sports city till last month. Now they said you can pay the accumulated interest at the time of hand over. I wanted to know will they charge me interest over interest?

January 14th, 2009, 07:09 AM	#151
MrCricket BANNED Join Date: Jan 2009 Posts: 28 Likes (Received): 0	Thanks for the info. So it is better off that i pay the interest every month rather than allowing it to get accumulated and ending up paying lot more extra.

January 14th, 2009, 07:57 AM	#153
MrCricket BANNED Join Date: Jan 2009 Posts: 28 Likes (Received): 0	I agree with you peter. But the fact is it will be of no use unless we form a small group and approach the developer with common concerns. Trust me approaching the developer individually will have no effect.

January 15th, 2009, 06:47 AM	#155
Peter Pan in Dubai Registered User Join Date: Aug 2008 Posts: 44 Likes (Received): 0	Ok. I suggest to write a letter to DSC requesting interest compensation. I'll share it with you guys ones I have something. We must get as much names as possible on that petition. I have no clue how many CRW owners are on this forum. If you are a CRW owner on a mortgage finance & wish to approach DSC with compensation over the interest you are currently paying till completion (which wont come before May 2010 at the earliest), please make yourself noticed on this forum

January 15th, 2009, 09:53 AM	#156
heavensent Registered User Join Date: Sep 2008 Posts: 18 Likes (Received): 0	count me in... we have to act collectively... whats the next plan of action.... by the way i have mortgaged by tamweel and paid 85% thus far... and im very unhappy

January 15th, 2009, 10:27 AM	#157
Steverobo Registered User Join Date: Jan 2009 Posts: 10 Likes (Received): 0	Count me in. I have paid 65% without any finance but I cant see any reason why they shouldnt compensate for the delays or make some sort of financial gesture. With so many laws and confusion would it be wise to collectively seek professional advise regarding the 2% etc, and split the cost ? What are the consequences of not paying by 17th Jan ? Steve

January 15th, 2009, 10:31 AM	#158
MrCricket BANNED Join Date: Jan 2009 Posts: 28 Likes (Received): 0	Count me in too 1 Bed unit in Med and Mortgaged from Dubai Bank. Should we Start a group on Facebook or something? so that we can put our personnel details and unit details as well.

January 15th, 2009, 12:43 PM	#160
Steverobo Registered User Join Date: Jan 2009 Posts: 10 Likes (Received): 0	Where has the 17th come from ? We were given 2 weeks notice ! How long have DSC known about it ? Steve