Property owners overcharged by Dubai developers

Property owners overcharged by Dubai developersEven after the Dubai government clarified rules for property sales in their 2008 Strata Law, experts say that many homeowners are still being charged illegal fees by developers.  The Strata Law supposedly said developers must gain approval for any service or administrative fees from the Real Estate Regulatory Authority and keep open books until residents can form homeowners associations.  Unfortunately, many developers are blatantly ignoring these regulations.

One of the biggest scams is charging a fee for registering the property and receiving no-objection letters, which are necessary for transferring the property later.  Technically, only the Dubai Land Department can collect registration fees, but many developers charge homeowners up to Dh5,000 for the paperwork.  Analysts complain that these extra fees add to the high-cost of property ownership in Dubai, and may scare potential investors from the scene.

 



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Even after the Dubai government clarified rules for property sales in their 2008 Strata Law, experts say that many homeowners are still being charged illegal fees by developers.  The Strata Law supposedly said developers must gain approval for any service or administrative fees from the Real Estate Regulatory Authority and keep open books until residents can form homeowners associations.  Unfortunately, many developers are blatantly ignoring these regulations. One of the biggest scams is charging a fee for registering the property and receiving no-objection letters, which are necessary for transferring the property later.  Technically, only the Dubai Land Department can collect...

Property owners overcharged by Dubai developersEven after the Dubai government clarified rules for property sales in their 2008 Strata Law, experts say that many homeowners are still being charged illegal fees by developers.  The Strata Law supposedly said developers must gain approval for any service or administrative fees from the Real Estate Regulatory Authority and keep open books until residents can form homeowners associations.  Unfortunately, many developers are blatantly ignoring these regulations.

One of the biggest scams is charging a fee for registering the property and receiving no-objection letters, which are necessary for transferring the property later.  Technically, only the Dubai Land Department can collect registration fees, but many developers charge homeowners up to Dh5,000 for the paperwork.  Analysts complain that these extra fees add to the high-cost of property ownership in Dubai, and may scare potential investors from the scene.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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