service charge

[stuartravald]

Hi I am new to all this and I find it all a bit thrustrating Iv got over the hidden extras hurdle I think looks about another 3k on top, studio apartment, now does anyone know the service charges for a studio per anum? Thanks

[dwzrd]

As per info received care of the owner of the building, Nakheel has initially set the service charge to AED10.55 per square foot of the built-up area of the apartment. This area is found on the initial pages of the sale and purchase agreement (SPA) and then multiply it by 10.55 to get the supposed service charge amount.

Example:
Area = 500 sq. ft.
Service Charge = 500 x 10.55 = AED5,275.00

As per SPA, this value may change yearly depending on the expenses incurred on the common area by apartment purchasers. Hence, annual service charge may vary annually and it may be expected to have a refund or augmentation as necessary as per SPA.

You may find other useful info on other threads on this forum whereby helpful colleagues have shared detailed fees, charges, and experiences encountered with real estate and developer.

[stuartravald]

thanks for the info but is that figure monthly yearly or wot?

[dwzrd]

It is a yearly (annual) service charge.

[zombie]

Lets not get the language wrong, the charge you seem to be discussing is the Annual Maintenance Charges.

Service charges are levied by building owners, as in the case of ARY. I think Nakheel is calling it Affection charges, for the 3k amount which is essentially to liase with the land department as & when the time comes

[wayneis]

Zombie is Correct The actual charge is 2850 AED if its 3000 AED then your agent is rounding up the charge.

Lets clear up this.

Nakheel does not worry or care that your Real Estate Agent is placing other charges on to your contract or property agreement. As long as Nakheel get their money that is all that matters.

It is pretty short sighted from Nakheels behalf . Nakheel just do not understand customer service at all.

[aveshbachav]

I receieved a letter from ARY properties yesterday stating I have to pay the balance amount pending which also includes aanother 2% of land resgistration fees plus 320 dirhams. the biggest shock was that they have slapped me with a 5% service charge. thats like 15,000 dirhams for their service such as manpower, fuel, phone calls (apparently none to me). Instead of compensating their logic is that they lost out in terms of manpower blah blah blah for one year for which I am the cash cow. What can I do about it? I blasted their sales team on the phone they had just vague answers. I wanna know if they have charged all other ARY buyers with such a fess. Note, this fees is to be paid to ARY for their service provide. Like, they had sold the partment without making any profit!! Obviosuly they have made very good profit on apartments and most of the finance came in terms of installments paid by hoem owners. I wanna know if you guys are also in the same situation??? Is there any redressal for such things in Dubai? Cuz Nakheel is Govt owned but not ARY. ARY has also left 1000 buyers of its flats in IC stranded cuz they were promised to get 70% mortgage which would be paid out by itself from rent accrued from the property over the next 15 years. Many pakistanis bought by paying 30% and the company used that money for 30 months and then finally handing them over cancellation letters along with a service charge of 10% of the amount paid. that is 3% of the original apaartment vaalue. So funny?

Help Help!!

[aveshbachav]

The News - International

[zombie]

That seems to be the way things go internationally, there are a lot of scams worldwdie, & the saying "CAVEAT EMPTOR" holds true with every one of them, the buyer has to take all necessary precautions & despite that many times they will still fall victim.

Basically what ARY has done is taken a loan from the people, used the money for 2 years to fund whatever projects they are into, & when they could they are returning the money, infact doing you a service that they have deducted only 10%, had they declared bankruptcy I think people would have barely got 50% of their money back.

Coming from India, the system is such, the buyer & seller agree to a certain price, their respective agents draw up the neccessary court documents, the first step is to go to the land dept & register your sale, personally, carrying with you ID papers & also you are photographed. Till then no sale can take place & then the other formalities take place such as paying the membership tranfer charges for each building.

Such a system is easy, protects all buyers & sellers, & could easily have been implemented in Dubai.

Such are the ironies of life, you slave hard for your whole life, save money & invest it in places you think are safe & secure.

[wayneis]

Sorry to here about this.

I was in the Head Sales Office of Nakheel today and I put the question directly to the Nakheel Sales Staff " Are you not concerned with Real Estate Agents who are breaking the law, being dishonest, charging unnecessary charges, are you not worried about the image ,that this reflects back on to Dubai" ?

The answer: We have nothing to do with the agent and the buyer this is for you to work out.

I am not happy with this answer. The Government has made it clear it wants to clean up the Real Estate Industry. Until it makes good with concrete laws then unfortunately People will continue to be taken for a ride.

Publicity and sharing information are powerful tools. When the reputation of this city is brought to the attention of the outside world you will see some changes.

It is unfortunate that it many people who brought in good faith are now paying a price for dishonesty.

When Nakheel Marketed International City Purchasers believed they had the protection of a Major Player backing them.................... Nakheel have contributed also to this deception and this short sight ness will not enhance their reputation at all.

Instead of playing the name and blame game why not some Clear Management and Directions combined with effective Real Estate Laws and penalty's to address the many shortcoming's that make buying and selling Real Estate here in Dubai akin to the Wild Wild West and the Gold Rush of days gone past?