To prevent the collection of funds for non-existent projects, developers must act quickly after getting approval. A developer must commence construction works within six (6) months of being granted approval to sell units off-plan. If they fail to do…
To prevent the collection of funds for non-existent projects, developers must act quickly after getting approval. A developer must commence construction works within six (6) months of being granted approval to sell units off-plan. If they fail to do so without a valid reason, they can be struck-off the Register of developers. This regulatory measure ensures that developers who market projects to the public are genuinely committed to implementation and prevents "phantom" developments from lingering in the market.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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