Because real estate is such a thriving business for both domestic and foreign investors, the UAE market has grown rapidly across the world. For the purpose of ensuring a seamless execution of all real estate processes, the UAE government has appointed authorities for each Emirate.
The Dubai Land Department (DLD) in Dubai manages all of the Emirate’s real estate transactions through a variety of services. One such service is the property exchange, which enables the clients to swap ownership of land rights in accordance with a letter from the Dubai Municipality.
But if you’re unfamiliar with the procedure, asking for a property exchange in Dubai might be a little perplexing. Here are the details about the service and how to apply for it to assist you with registration.
EXCHANGE OF PROPERTY IN DUBAI: EVERYTHING YOU NEED TO KNOW
Customers can sign up for the service to exchange a property. Due to a letter from the Dubai Municipality, this permits the applicants to switch the ownership of the property that has been granted to them. You may submit an application for this service if you own property in Dubai.
The following information is necessary before you apply to seek a property exchange in Dubai.
HOW TO REQUEST A PROPERTY EXCHANGE FROM SERVICE
The following details how to sign up for the service:
Visit the DLD offices’ Customer Happiness Center.
- Fill in the necessary paperwork.
- The system will input and process the transaction data.
- You will get a receipt for your payment once you submit the service costs.
- You’ll get an email with a link to the title deed and map after the transaction has been validated.
The duration of the full service process is about 25 minutes.
REQUIRED DOCUMENTS FOR A PROPERTY EXCHANGE REQUEST
The following papers must be submitted in order to register for this service:
- Owner’s Emirates ID
- An authorization letter from the Dubai Municipality for the exchange
SERVICE FEES REQUIRED TO SUBMIT A PROPERTY EXCHANGE REQUEST
The following are the service costs needed to submit a request for a property exchange in Dubai.
- AED 250 is payable for each Title Deed.
- For regions outside of Dubai Municipality’s authority, the land Map fee is AED 100.
- The cost of the unified Land Map with Dubai Municipality is 325 AED.
- AED 250 for the floor plan.
- For the villa map, pay AED 250.
- 10 AED is the knowledge charge.
- The innovation cost is AED 10
METHODS OF PAYMENT
The following payment options are available to the customer for the mentioned fees:
- A credit or debit card
That is all there is to it in terms of how to ask for a property exchange in Dubai. Such services help to simplify the real estate processes for both buyers and sellers. As a result, you can use this service if you own a property in Dubai and are looking to trade.
However, if you wish to transfer ownership of property in Dubai without using a property exchange, be sure that you are familiar with the procedures.
Additionally, if you intend to buy a property in the UAE, go through these properties for sale in Dubai for affordable options.