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The property for sale concerns 2 abutting fields, in Palaichori Oreinis Community, in Nicosia District. The property is located approximately 670 meters southeast from the community's center and approximately 100 meters east from Palaichori Oreinis Primary School. The property for sale concerns 2 abutting fields, in Palaichori Oreinis Community, in Nicosia District. The property is located approximately 670 meters southeast from the community's center and approximately 100 meters east from Palaichori Oreinis Primary School. As a single unit, it has an irregular shape with an inclined surface and it abuts onto a public registered road along its southeast boundary with frontage of approximately 39 meters. The property with registration no. 0/16514 fall within the Residential Zone H1, having a building density of 120% and the property with registration no. 0/14606 fall within the Protection Zone Z1, having a building density of 6%. The properties are sold as a single unit with total area of 389 sqm. The asset does not qualify for the 50% reduction of property transfer fees imposed or levied by the Department of Lands and Surveys (Fees and Charges) Law (Cap.219). The asset does not qualify for the 50% reduction of property transfer fees imposed or levied by the Department of Lands and Surveys (Fees and Charges) Law (Cap.219).
For registering a resale property in the buyer’s name, transfer fees are required. These fees are determined by the property’s market value as assessed by the Land Registry on the purchase date.
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