RES 01-For sale New luxury RES in Calodyne - North

Nestled in an area of unspoilt natural beauty,Domaine Des Iles is a fabulous new development offering spacious residences of three bedroom,1 swimming pool,1 living/dining room,a venrandah,1 kitchen,1 bathroom,etc...
It is situated in a quiet neighbouhood in Calodyne.It is only 30 minutes from Port-Louis,15 minutes from Ecole Du Nord and 15 minutes to Grand-Baie.

The development is located on 4 acres of land in the North of the island at Calodyne, Mauritius. It will comprise of 34 contemporary villas with common roads, service areas and other collective facilities, all subject to terms and conditions of, and governed by a regime of co-ownership i.e “a réglement de copropriétè”.

Buying the Residence

The Developer’s application in terms of the Real Estate Scheme (RES) has been approved by the Board of Investment in order to allow the purchase of the units, within the development by foreign buyers under certain
conditions.

The project will be developed under a regime of co-ownership i.e “a réglement de copropriétè” and the owners will have to abide by the conditions of the réglement de copropriétè which will be administered by a syndic under the Mauritius Civil Code. The owners will have exclusive rights of occupation of the units bought which includes the residences, the private gardens, parking and courtyards attached to the residences as denoted in the master plan.

In accordance with the provisions of “vente à terme” and “vente en l’etat future d’achevement (VEFA) “ under the Mauritius Civil Code, the price on the Deed of Sale is payable as follows:
30% on signature of the deed of sale (includes release of the 5 % escrow deposit). On approval by the Mauritian authorities for the buyers to purchase the residence, the Preliminary Reservation Agreement (CRP) is replaced by a Deed of Sale whereby the buyer provides an acceptable bank guarantee
for the full purchase price. The developer in return issues the buyer with a bank completion guarantee and the title to the residence is registered by the notary in the name of buyer

At this point in time the title to the residence is registered in the name of the buyer.
5% on completion of the foundations
35% when the roof is completed
25% on completion in terms of the deed of sale
5% when the apartment is made available to the buyer.