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Two storey building (mixed-use), which concerns the ½ south share, which corresponds to a land area of approximately 1,314 sq.m., in Peristerona Community in Nicosia District. It is located approximately 570 meters east of the community center and approximately 370 meters northeast from the Community Elementary School. Two storey building (mixed-use), which concerns the ½ south share, which corresponds to a land area of approximately 1,314 sq.m., in Peristerona Community in Nicosia District. It is located approximately 570 meters east of the community center and approximately 370 meters northeast from the Community Elementary School. The building was constructed around 1987. It consists of a unit on the ground floor and two incomplete apartments on the first floor. The ground floor consists of a large open-plan space, three bathrooms and a staircase. Apartment (West): It will consist of an open-plan living room - kitchen, a bathroom, a guest bathroom, four bedrooms and covered verandas. Apartment (South): It will consist of a living room, a kitchen, a bathroom and one bedroom. The area of the covered spaces on the ground floor is 400 sq. m. (approx.) and the covered areas on the first floor amount to approximately 230 sq. m., the covered verandas to 40 sq. m. (approx.), and the uncovered verandas to 125 sq. m. (approx.). The ½ share for sale corresponds to the two storey building located in the southern section of the parcel. 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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