The Da Nang Construction Department stated that, according to the documents provided by the investor and the opinions of relevant agencies and units, the future formed housing at the Da Nang Real Estate and Marina project meets the conditions for sale as prescribed in Article 24 of the 2023 Law on Real Estate Business.
The project is invested by Da Nang Marina Joint Stock Company, located in Nai Hien Dong Ward, Son Tra District, Da Nang City. This is a controversial project that involved land reclamation from the Han River, sparking heated debates and mixed opinions from the public.
Da Nang Real Estate and Marina project is eligible for selling future formed housing. Photo: Nguyen Thanh
The project has a construction scale of 5 locations with a land area of over 119,000 square meters, including over 109,000 square meters of land area and 10,000 square meters of bridge and water surface area.
According to the Da Nang Construction Department, the investor reported that 3 out of 34 land-use right certificates and ownership of houses and other assets attached to the land of 3 apartments are currently mortgaged at a bank.
There are 34 future-formed houses eligible for sale at this project, with apartment sizes ranging from 147.1 to 446.4 square meters.
The investor is fully responsible for any violations
The Da Nang Construction Department requires the project investor to be responsible for the completeness, accuracy, and truthfulness of information related to the project, the investor, and the future-formed housing in the project.
The investor is also responsible for ensuring that the future-formed housing in the project meets the conditions for sale as prescribed in Article 24 of the Law on Real Estate Business.
View of the project area from Thuan Phuoc Bridge. Photo: Nguyen Thanh
In case the investor mortgages a part or the whole project or the houses and has a demand to sell those houses, they must unmortgage that part or the whole project or the houses and the land-use right before signing the house sale contract with customers according to Clause 2, Article 183 of the 2023 Housing Law. The investor must also implement the guarantee when selling future-formed housing as prescribed in the 2024 Law on Real Estate Business.
At the same time, the investor must comply with the payment regulations for the sale of future-formed housing, with the first payment not exceeding 30% of the contract value (including the deposit), and subsequent payments must be in line with the construction progress but not exceeding 70% of the contract value before the housing is handed over to the buyer. The total payment must not exceed 95% of the contract value when the buyer has not been granted a certificate of land-use right and ownership of assets attached to the land according to the law on land.
The Da Nang Construction Department emphasized that the investor is fully responsible before the law for any violations in the investment and construction of the project and real estate business activities related to the project.
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