With real estate being a highly lucrative sector for local and foreign investors, the UAE market has expanded globally at an incredible rate. The UAE government has assigned authorities for each Emirate to ensure a smooth execution of all the real estate processes.
In Dubai, the Dubai Land Department (DLD) oversees all the real estate transactions of the Emirate through several services. One such service is the property exchange which allows the applicants to exchange the ownership of granted land based on a letter from Dubai Municipality.
However, requesting a property exchange in Dubai can get a bit confusing if you’re new to the process. To help you with the registration, here are the details about the service and how you can apply for it.
ALL ABOUT THE EXCHANGE OF PROPERTY IN DUBAI
The service allows the customers to register for the exchange of a property. This enables the applicants to exchange the granted property ownership based on a letter from Dubai Municipality. If you are a property owner in Dubai, you are eligible to apply for this service.
Here’s what you need to know before you apply to request a property exchange in Dubai.
Service Procedure to Request a Property Exchange
Here’s how you can register for the service:
- Visit the Customer Happiness Centre in the DLD main office.
- Submit the required documents.
- The transaction data will be entered and processed by the system
- Submit the service fees and you will receive a payment receipt.
- After the transaction is verified, you will receive an email containing a link for the Title deed and map.
The entire service procedure takes approximately 25 minutes to complete.
Documents Required to Request a Property Exchange
The documents that are required to register for this service include:
- Emirates ID of the owner
- Letter from the Dubai Municipality approving the exchange
Required Service Fees To Request a Property Exchange
The required service fees to request a property exchange in Dubai includes the following.
- Each Title Deed is charged for AED 250.
- The land Map fee is AED 100 for areas that are not under the jurisdiction of Dubai Municipality.
- The Land Map fee is 325 AED for the unified map with Dubai Municipality
- AED 250 for the apartment map
- AED 250 for the villa map
- AED 10 for the knowledge fee
- AED 10 for the innovation fee
Payment methods
The customer can pay the above-mentioned fees through the following payment methods:
- Cash
- Cheque
- ePay
- Debit or credit card
That is all about how you can request a property exchange in Dubai. Such services assist in making the real estate processes easier for sellers and buyers alike. Therefore, if you own a property in Dubai and are in search to exchange, you can avail this service.
However, instead of a property exchange, if you want to transfer property ownership in Dubai, make sure that you are well aware of the processes.
Also, if you are planning to buy a property in the Emirate, sift through these properties for sale in Dubai for budget-friendly options.
Stay tuned to UAE’s leading real estate blog for more information on Dubai real estate market.
