9 am to 5 pm

Monday to Saturday

+230 57 94 64 37

admin@homes.mu

Compare Listings

PDS – PROPERTY DEVELOPMENT SCHEME – AMENDMENTS

PDS – PROPERTY DEVELOPMENT SCHEME – AMENDMENTS

Property Development Scheme: Amendments

Further to the announcement made in the 2016/2017 Budget Speech, the Investment Promotion (Property Development Scheme) Regulations 2015 have been amended as follows:

(i) the maximum size limit of 50 arpents has been removed

(ii) the requirement to sell at least 25 percent of residential units to Mauritian buyers has been removed

(iii) the current maximum permissible land size for a villa has been reviewed from half an arpent (approx. 2110 m2) to 1.25 arpent (approx. 5276 m2).

In the light of these amendments, the guidelines and procedures for the development of PDS projects have been changed accordingly.

In 2015, the Property Development Scheme superseded the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES). To date, 19 PDS project promoters have received their Letter of Approval. Two of these have been issued with their PDS certificates.

PDS projects are sharing the success of existing IRS and RES projects. As at end of the third quarter of 2016, 1,966 residential units have been sold. The top foreign buyers under the IRS and RES schemes are French, South African and British. Moreover, as a confirmation of the increased visibility of Mauritius on the international real estate scene, there is a growing number of buyers from other parts of the world.

26/10/2016

Source: http://www.investmauritius.com/news-room/latest-news/property-development-scheme-amendments.aspx

img

Sebastien Staub

Director of SMART MEDIA LTD a registered company for advertising/marketing and real estate activities on a fee or contractual basis. HOMES.MU is a marketplace for Agents/Agencies/Brokers to SignUp/Register and use as their own real estate portal. We also offer a luxury magazine which we print every quarter. We also offer Sale and Marketing consultancy services for very selective real estate projects such as Luxury Homes, New Property Developments Apartments, Gated Community for Locals as well as for Foreigners. Do not hesitate to contact us.

Related posts

MAURITIUS SMART CITY SCHEME (SCS)

Smart City Scheme (SCS) In order to create better working and living conditions, via foreign...

Continue reading
Sebastien Staub
by Sebastien Staub

RES PROJECT FOR SALE – BEACHFRONT FREEHOLD LAND + PERMITS + COMPANY FOR SALE

Here is an opportunity for an investor to secure this unique beachfront property (freehold) at le...

Continue reading
Sebastien Staub
by Sebastien Staub

THE MAURITIUS PROPERTY GUIDE FOR SOUTH AFRICANS

In early 2017 the Mauritian government changed the Non-Citizens (Property Restriction) Act so that...

Continue reading
Sebastien Staub
by Sebastien Staub