Thursday, August 02, 2007

Emaar announces reduced NOC charges

Emaar Properties has announced a major reduction of its certification charges for homeowners who wish to sell their properties.

The company has announced that the cost of issuing a Notification of Completion (NOC) certificate has been slashed by ninety percent, with the fee dropping down from Dh.5000 to Dh.500.

Such a measure was initiated due to complaints from various property owners about the high fee charges by Emaar in comparison to other developers.

Homeowners who already possess the title deeds for their properties should provide the Dubai Land Department with NOC while transferring their ownership to a second party.

Developer Nakheel has already decreased their fee for NOC from Dh.1000 to Dh.500. The fee is charged as verification charges for ensuring that there are no outstanding issues regarding property or any unpaid service charges.

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