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The property is a farm - a livestock facility for breeding cows, located in Paleometocho community, in Nicosia district. It is located approximately 1,5 km southwest of the community center and approximately 600 meters west of the 2nd Elementary School of Paleometocho. The property is a farm - a livestock facility for breeding cows, located in Paleometocho community, in Nicosia district. It is located approximately 1,5 km southwest of the community center and approximately 600 meters west of the 2nd Elementary School of Paleometocho. It has an irregular shape and an even surface. It abuts onto a registered road along its southwestern border with total frontage of approximately 85 meters. The property was built around 1995 and consists of outdoor areas (animal stalls), partially covered by metal sheds and enclosed by a metal fence, two conventional-construction buildings, one of which is incomplete (at the masonry stage), as well as three cylindrical metal silos and a large metal structure (warehouse). The total area of the buildings is 454 sq.m. (approx.). The asset is occupied. The property falls within the Agriculture Zone Γ3 with a building density of 10%. 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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