The construction of Building 'A' has commenced. The front gate, together
with the guard house and administration building are finished. Our
administration and in-house sales team are pleased to announce that their
office is now open to the public. If you are in
The model and display unit is now under construction and will soon be be available for public viewing.
Yes.
Unlike private land, foreign nationals and foreign corporations may directly own a condominium unit. However, the land on which the condominium building stands must be owned by the condominium corporation. When a person buys a condominium unit, he automatically becomes a member of the condominium corporation which owns the land. Under Philippine law, foreigners are allowed to become members or stockholders of the condominium corporation which owns the land, but only up to a maximum of 40% of the capital stock of the condominium corporation.
Any foreigner can avail, as Philippine law does not require any specific visa for foreigners to purchase a condominium unit.
Foreigners intending to retire in the
The company will be offering the following:
Please visit the Sample Calculation page to get a detailed description of our financing options on your favorite unit.
If there is a demand for this type of service, there is no problem having one person or staff dedicated to handle this. A property management division can easily be set up to offer services to unit holders such as this. Services such as property rentals and maintenance will be under this division so you may rest assured that your unit is well taken care of whilst you are away.
Reservation contracts are not transferable. A transaction fee of P5,000 is deducted from the reservation fee should the reservation be cancelled.
The Purchaser may assign or transfer his contract or any of his rights or interest therein or in the unit provided prior written consent from the Developer is secured.
Interested parties should get their own professional advice on tax matters. Regardless, the company will provide a statement of payments made detailing principal, interest and other expenses paid pertaining to the unit(s) for the calendar year ended.
Extended Value-added Tax (EVAT)
For units with gross selling price of over P2.5 million, there shall be imposed a value-added-tax of 12% payable on each sale to the BIR. Any units with a gross selling price of under P2.5 million are exempted.
Documentary Stamp Tax
An instrument, document or paper on the sale, transfer or exchange of real property is required by law to be stamped. The Documentary Stamp Tax at the rate of 1.5% of the purchase price, zonal values, or the market values under the Tax Declaration of the property, whichever is higher, is payable to the BIR within ten (10) days after the close of the month when the DOAS is signed and notarized.
Local Transfer Tax
Local transfer tax is imposed by the City Treasurer’s office generally at the rate of 0.8% of the purchase price, zonal value, or TD value of the property, whichever is higher.
Registration Fees
are payable to the Register of Deeds at the rate of P8,796.00 for the first P1.7million plus P90.00 for every P20, 000.00 or fraction thereof in excess of P1.7 million.
On finished units, Banco de Oro (BDO) is offering home consumer loans. Please refer to this link: Banco de Oro Personal banking Consumer Home Loans.
