By Accommodation Times Features
National, January 3, 2017: Sobha Hartland, the resort-style luxury housing project of Sobha Group, Dubai encompassing 8 million square feet of freehold community land, has now announced the launch of their direct operations with the opening of three sales offices here in India. Sobha Hartland Dubai is a $4 bn project is a mixed use development project on the iconic Dubai Water Canal and boasts of a limited collection of ultra-contemporary villas, townhouses, modern mid & high-rise apartments. This range of luxury products caters to both individuals and families alike looking for their ideal homes in Dubai.
Indian investors and residents seeking to invest in these new ventures will now be able to contact Sobha Hartland easily and in their very own city. These offices set up in Mumbai, New Delhi and Bengaluru, mark the next stage in development and growth at an even faster rate from the new base.
With the recent surge in Indian investments in Dubai property post the Govt of India’s circular on demonetization, Indian investors are looking at various new avenues to recover some of their losses and R.O.I that is tax free. In that regard Dubai is considered a very sought out destination to invest in tax-free property with solid returns for investors and also for end-users who are looking at investing in a second home.
Under RBIs Liberated Remittance Scheme, a couple can transfer 3.4 crores legally per year which can buy them a 2-bedroom apartment in Sobha Hartland Dubai. By investing more than 1 million AED in a property in Dubai, one also gets the eligibility acquire a UAE residence visa. Several payment plans also available when opting for bigger apartments and villas. The Foreign Exchange Management Act (FEMA) came into effect on 1st of June, 2000, replacing the Foreign Exchange Regulation Act (FERA). The intentions of the FEMA are to revise and unite laws that relate to transactions of foreign exchange and encourage an orderly maintenance and development, of the foreign exchange markets in India.
Indian investors will benefit from Dubai being considered the most sustainable city in the region and a safe haven in terms of real estate investments. With prime properties developed in Dubai by Sobha, it has earned recognition for great quality as the number one brand in India (source: Track2Realty Brand X Report 2015-2016) and one of the top real estate companies in the Arab world (source: Forbes Middle East). That’s because Sobha Group is the only backward integrated company in the world –everything from start to finish is done in-house.
Sobha Hartland was launched in 2014. It comprises of Hartland Greens, Hartland Estates and Hartland Townhouses which will be launching shortly. Apartments at Hartland Greens comprise of eight floors with options of studios, duplexes to one, two and three bedrooms along with a choice of either park, pool or boulevard views. Completion date of phase 1 is expected by December 2017. Hartland Estates is an exquisite freehold community with a range of ultra-contemporary villas. The L-shaped Sobha Hartland villas offer unmatched privacy and comes with four, five and six bedrooms with ample amount of space. With the addition of a courtyard, backyard and designated swimming pool, residents will have ample space to un-wind in their own home. Completion date of phase 1 is expected by December 2018. Hartland Townhouses will be spread across three floors with focus on lavish space and privacy and each unit will be of 3,300 square feet. Investors will have an option of either choosing the surrounding greenery of a corner unit or the intimacy of a middle unit.
Sobha Hartland also offers a flexible payment plan for investors and end-users. The new payment plan for apartments and villas will give the following benefits:
· 50% during construction
· 10% on completion
· 40% over 2 years’ post-handover
Additionally, Sobha Hartland project offers world-class facilities within the community and residents will have access to Hartland International School – which is already operational and follows an UK curriculum, Hartland Square – A world class shopping hub, Hartland Boulevard – A fashion avenue with all the leading fashion brands present in one destination, The Walk – Restaurants and cafes serving on the waterfront. The project’s location within Mohammed bin Rashid Al Maktoum City and 3 kilometer proximity to Dubai’s hottest attractions makes it one of the most-sought property investments in Dubai.
Sobha Hartland has also recently unveiled its new premium land plots for building G + 12 apartment buildings and waterfront villas for investors and end users within the project. Nearly 155,000 square feet is available to build 12 floor apartment buildings which consist of approximately 200 -250 units and 14,000 square feet of premium land is available for constructing waterfront villas. Developers will get the chance to build their own brand of residences within the iconic Sobha Hartland community and have the option of a prime and profitable investment opportunity to maximize their profits by owning a cluster of 13 plots to build and sell villas. For hoteliers and hotel apartment operators a single plot of 86,755 square feet area is available to build a hotel or hotel apartments under their brand.
These plots are surrounded by 2.4 million square feet of greenery, world-class amenities and Dubai’s hottest attractions. This is ideal for building one’s dream property in the most fabulous and prime locations in Dubai.
Mr. PNC Menon, Founder and Chairman, Sobha Group, said “We are happy to launch our direct operations strategy for Sobha Hartland Dubai in India. With our presence in these three key metro cities in India, we look forward to addressing a significant amount of enquires which will only add to the existing queries we garner in Dubai. These individual offices will certainly help with on-ground execution and better streamlining of our offerings. Sobha as a brand is synonymous to quality and we are considered to be one of the leading premium real estate developers in the Middle East and India. Recent reports show Indians to be the prime foreign investors in the real estate sector in Dubai, which makes the launch of new offices in India a sensible decision. The new offices aim to meet the interest generated from clients in India by reducing the gap in communication and execution. With a legacy and track record of over 40 years, Sobha Group’s vision is to be the most trusted and respected real estate organization. Sobha Hartland’s exclusive offices in Mumbai, New Delhi and Bengaluru are specifically and solely designed to cater to the sales, project management and support needs of the Indian clients.