Dubai’s real estate is a booming sector for investors. Residential and commercial properties are valuable in Dubai. And UAE citizens can exchange houses in Dubai for commercial purposes if they know the legalities.
While the Dubai Land Department manages all manners of real estate business including financial and commercial, it also handles property exchange. We will dive deep into all the legalities, processing fees and documents required to help investors exchange property.
All There is to Know About Property Exchange in Dubai
The Dubai Land Department describes property exchange as a service which allows UAE citizens to register the swap of two properties. It is done through the exchange of grant land plots between two people who want to carry out the transaction.
An official letter from the Dubai Municipality is required to allow UAE citizens to exchange property. All real estate owners and investors are allowed to apply for the service. Here is the entire process streamlined.
Documents Required
The documents that are required to exchange property in Dubai are listed as follows:
- Emirates ID
- DLD Application Form
- Dubai Municipality Letter
- Title Deed
- NOC Certification
- Property Valuation Report
Service Procedure at Dubai Land Department
Investors who are exchanging property to get into a rent-to-own scheme business can visit the Dubai Land Department service centre and follow these steps:
- Head to the Customer Happiness Centre, located in the main building of the Dubai Land Department.
- Submit the required documents (Emirates ID, Title Deed, Approved letter, NOC, etc) to the employee.
- All transaction details are entered into the DLD’s online system.
- Pay the fees and obtain a payment receipt.
- The transaction gets audited and approved.
- The customer receives an email with the title deed and e-map.
Payment Methods
4 payment methods are listed here below:
- Cash
- Cheque
- Credit/Debit Card
- E-pay
Fees Required
The fees needed for exchanging a house in Dubai are as follows:
- Title Deed: AED 250 to issue
- Land Plot Map: AED 100 for lands that are outside the jurisdiction of Dubai Municipality
- Apartment Map: AED 250
- Villa Map: AED 250
- Knowledge Fee: AED 10
- Innovation Fee: AED 10
- Unified Land Map: AED 225 for a unified land map with the Dubai Municipality
Documents Required to Register a Property in Dubai
The Dubai Land Department requires certain documents to successfully register a property, listed as follows:
- Emirate ID: Original ID is needed.
- Title Deed: Approved title deed of the property is required.
- NOC (No Object Certificate): Required to ensure that no taxes are left unpaid and the property is debt-free.
- Mortgage Documents: The official mortgage documents are required if a home loan in UAE is taken.
FAQs
As per Dubai property exchange laws, the only service channel that caters to investors for a property swap is the main headquarters of the Dubai Land Department. There are no other channels available.
It takes approximately 25 minutes for the entire application procedure to finish. Starting from filling out the application to entering the transaction details, the transactions also get audited and approved, which can take more time.
The property registration process for buying off-plan property in UAE is quite simple, as listed here below:
– Obtain the necessary documents such as the Emirates ID, Title Deed, etc.
– Get approval from the Dubai Land Department.
– Fulfil the registration fees.
– Turn in the documents required.
– Obtain the Title Deed.
– The details of the property can be updated as required.
The Dubai Land Department issues an e-certificate of Title or a Title Deed, which proves the investor as the rightful owner of the property, eligible for exchange. An e-map is also issued based on the application for a land plot, apartment or villa in Dubai.
Investors who are property owners in Dubai and are permanent UAE citizens are allowed to apply for the exchange application at the Dubai Land Department.
Exchanging houses in Dubai is a straightforward process for UAE citizens, facilitated by clear regulations and support from real estate authorities. By following the necessary legal steps and working with professional agents, homeowners can successfully navigate the exchange process. This approach offers a flexible and efficient way to relocate within the city, ensuring a smooth transition for all parties involved.
That should answer how UAE citizens can exchange a house in Dubai. Keeping these pointers in mind should allow for a smoother house exchange in Dubai.
Keep reading Property Finder blogs to know more about Dubai property exchanges!
