WHAT IS THE FLOOR TO FLOOR HEIGHT?
+/- 3 meters
WHAT IS THE FLOOR TO CEILING HEIGHT?
+/- 2.4 meters - 2.7 meters
IS THE BALCONY PART OF THE RESIDENTIAL AREA?
Yes. The balcony forms part of the residential area. However, putting any unsightly fixtures (e.g. clothesline, cleaning materials, etc.) in the balcony that are visible from the exterior of the building is not allowed.
ARE THE WALLS BETWEEN EACH UNITS SOUNDPROOFED?
Yes. Up to 40 decibels
WHAT IS THE BREAKDOWN OF OTHER CHARGES (6.50%)?
- 1.28% - Registration Fee
- 1.50% - Doc Stamp Tax BIR
- 0.75% - Transfer Tax City Treasurer
- 0.15% - Legal Fees/Notary
- 1.55% - Water/Meralco Installation
- 0.27% - Miscellaneous Fee
- 1.00% - Real Property Tax (1-year)
DOES THE UNIT COMES WITH ELECTRICITY AND WATER CONNECTION?
Yes, units will already have utilities upon turnover. Application cost for water and electricity connection is included in the other charges (miscellaneous fees).
WHAT ARE FINANCING OPTIONS AVAILABLE IN SMDC?
Cash Payment, Deferred Cash, Cash or Bank Financing of the loan balance.
IS BANK FINANCING DEVELOPER-ASSISTED?
Yes. Buyer just need to submit all requirements to SMDC within a specified time period to process the loan for the balance prior to the completion of downpayment.
WHAT ARE ACCREDITED BANKS OF SMDC?
BDO, BPI, PNB, Chinabank, Union Bank, HSBC, PSBank, Security Bank, Robinsons Bank
HOW MANY UNITS CAN BE COMBINED?
A maximum of 5 adjacent units can be combined subject for approval.
HOW WIDE IS THE HALLWAY?
+/- 1.5 meters
WHAT WILL BE THE VENTILATION ON THE TYPICAL RESIDENTIAL FLOORS?
Common Area/Hallway: Natural ventilation. Residential Units: Natural ventilation with provision for A/C unit; mechanical ventilation (exhaust ductless) for toilet and bath
WHAT IS THE BACK-UP POWER?
Standby Gensets. For Common Area: 100% back-up power - 1 Genset per tower (Residential). For Residential Units: 2 Convenience Outlets + 1 Light (1BR), 2 Convenience Outlets + 1 Light (2BR).
HOW MANY PARKING SLOTS CAN THE BUYER PURCHASE?
1 is to 1 and must be unit owner
WHAT HAPPENS IF A UNIT OWNER DOES NOT GET A PARKING SLOT?
Unit owners who did not purchase parking slots may opt to rent parking slots from SMDC Leasing or from other unit owners who are renting out their parking slots.
IF A PURCHASED RESIDENTIAL UNIT WAS CANCELLED BY THE BUYER, WHAT HAPPENS TO THE PURCHASED PARKING SLOT?
With this scenario, the parking slot purchased will also be cancelled.
CAN A RESIDENTIAL UNIT BE USED FOR COMMERCIAL PURPOSES?
No, all residential units shall be used for residential purposes only.
ARE THE UNIT PERPETUAL OWNERSHIP (FREEHOLD OWNERSHIP)?
For Filipino buyer, yes, it's Perpetual Ownership provided with Condominium Certificate of Title (CCT).
CAN A FOREIGN CITIZEN BUY A CONDOMINIUM UNIT IN SMDC?
Yes. 40% of the total units in a project can be sold foreign buyer thru Perpetual Ownership (Freehold Ownership).
WHAT IF THE 40% ALLOTTED TO FOREIGN BUYERS IS SOLD-OUT?
They can still buy from the remaining 60% under ASSIGNMENT OF RIGHT TO USE (ARTU). This is no longer Perpetual Ownership so there's no CCT/Title. It is leasehold with 50 years contract.
DOES ARTU HAVE CCT AND CONTRACT TO SELL?
None. Only Contract of Use but it has the same right like other owners since foreign buyer will be assigned as proxy/assignee by SMDC.
CAN ARTU TRANSFER THE RIGHT OF USE?
ARTU can only transfer the Rights of Use with the remaining unused term from 50 years.
WHAT IS THE ADVANTAGE OF ARTU?
It has 10% upfront discount on top of standard discounts.
WHAT ARE THE PAYMENT TERMS OF ARTU?
Deferred Cash, Spot Cash, Standard DP term but remaining balance is payable in cash.
WHAT ARE THE PROJECTS UNDER ARTU?
Shore Series, Fame, Red, Bloom. Other condo project may follow once the 40% cap is reached.
HOW IS THE GARBAGE COLLECTED?
Each floor has garbage room available from 7am to 7pm
HOW MUCH IS THE MONTHLY CONDOMINIUM DUES?
May still vary depending on the projected operational cost of the project upon turnover. Estimated amount range from Php 70.00 – Php120.00 per square meter floor area.
WHAT IS THE PURPOSE OF COLLECTING CONDOMINIUM DUES FROM THE UNIT OWNERS?
Condominium dues are used to pay the following expenses: operating and maintenance expenses of the condominium, insurance premiums, real estate and property taxes of the amenities and common areas, permits and licenses fees paid to the government, other necessary expenses.
WHEN WILL A UNIT OWNER START PAYING FOR THE CONDOMINIUM DUES?
Payment of condominium dues will start once the unit has been accepted by the unit owner or deemed accepted based on turnover policy.
ARE THERE ANY FEES TO BE COLLECTED FOR USING THE FACILITIES/AMENITIES IN THE CONDOMINIUM?
The use of facilities and amenities are generally covered by the condominium dues, except for areas identified by the Condominium Corporation (e.g. function rooms, etc.). Such fees will be used to cover maintenance and utility costs.
WHEN CAN A UNIT OWNER MOVE IN TO THEIR UNIT?
- Building has been completed.
- Buyer has met the payment & documentary requirements for move-in.
- Buyer has signed the Certificate of Acceptance.
- Buyer has settled the required Working Capital (equivalent to 3 months Condo Dues).
- Buyer has submitted the filled out move-in forms.
- Buyer has attended the orientation on the House Rules conducted by the Property Administration.
- Buyer has submitted all other documents as may be required by the Property Administration.
Buyers will be allowed to move in after the following conditions are met:
ARE THE TOWER/BUILDING INTERCONNECTED?
Most of the buildings will be connected at their support level amenities.
ARE PETS ALLOWED IN THE RESIDENTIAL BUILDING?
No. Unit owners are not allowed to house or keep pets of any kind, even temporarily.
IF SM PRIME IS THE OWNER / DEVELOPER, WHAT WILL BE THE EFFECT ON DOCUMENTATION?
Standard documents will reflect SM Prime instead of SMDC. All buyer's checks & payments should be made payable to SM Prime Holdings Inc. All official receipts will be issued by SM Prime Holdings Inc. Same procedure applies to Vancouver Lands Inc., 2241 Properties, Inc., Springtown Development Corporation, which are wholly-owned subsidiaries of SM Development Corporation.