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Planorama Luxury Apartments, Bucharest Luxurious property for sale in Bucharest, Romania provides well positioned city centre apartments in a state-of-the-art Planorama development.
Planorama are the new state-of-the-art residential luxury apartments in a growing area of Romania, on of the growing cities in Bucharest. This property for sale in Romania consists of four 15 floor buildings with a total of 1104 luxury apartments and 800 parking spaces. In the centre of the four buildings is a central piazza, and each building is surrounded by green area with designer manicured gardens, paved walkways, benches and trees. There is also a country club on site with an indoor heated swimming pool and state-of-the-art fitness centre. The buildings will also host commercial space, which will add to the facilities and services available locally to owners and their guests. The site will have 24 hour guarded security and a luxurious lobby area within each building. It will be a pedestrian zone to increase the security and safety for children. Location Situated on the corner of "Heliade Intre VII" and "Doamna Ghica" in Bucharest city centre.
Construction Schedule Construction is phased, the roof stage is due to complete in August 2008 and the completion of the entire development is set for August 2009. You can follow construction progress on our website by clicking the construction Photos button (above). Facilities And Maintenance Indoor Heated Swimming Pool
Country Club
State-of-the-art Fitness Centre
24 hour security with CCTV
4 lifts in each building providing access to all floors
Gated development with no unauthorized access from the
street.
Luxurious lobby area in each building finished in marble and
natural stone.
Secure central park area with benches, trees and walk ways.
Leisure areas and playgrounds for children within the park.
Aerobics Room
Sauna
Jacuzzi
Internet Cafe
Solarium
Sun bathing terraces
On site property management
Access to Planorama Property Complex Payment Terms We have a refundable reservation fee policy which enables you to hold an apartment for up to 30 days without actually committing to the purchase. This enables you to view the development and do further due diligence prior to signing your contract and paying your first instalment. The reservation fee is only refundable if the client views the property / development within the 30 day period. Only 10% of your reservation fee is retained by us as an administration charge. We will accept verbal reservations, which are valid for 72 hours. The refundable reservation fee is 3,000 and should accompany a signed reservation form which is available upon request. This reservation fee is deducted from your final instalment. After 30 days of receipt of your reservation form and cheque, the reservation fee becomes non-refundable.
1st instalment: 35% of the purchase price paid upon signing the Preliminary Sales Contract.
2nd instalment: 50% upon completion of the roof floor in your apartment building.
3rd instalment: 15% (less your reservation fee) upon notary transfer (completion).
ADDITIONAL COSTS
Legal Fees are 2000 euro + VAT and accounting fees. The accountant is needed in order to confirm the payments made and received within the company. The cost for this is approximately 60 euros per month.
The only other cost is notarizing documents which is dependent on the number of shareholders and therefore the number of documents requiring the stamping as well as the cost of the individual notaries charges which again vary the standard for 1 buyer is about 150 euro for each notarized document. Without a POA this would = 300 euro.
BUYING PROCESS STEP BY STEP PROCESS
- Reserve the apartment and send in reservation
fee: 2 days
- Employ a lawyer and send payment (lawyer will do nothing before money in account): 4 days
- Lawyer reserves a company name after the client gives the name: 2 days
- Lawyer sends client a POA to notarize and apostle to open the company: 5 days
- Once this is returned the lawyer activates the company: 5-7 days
- Returned to the lawyer to translate and notarize: 2 days once returned.
- Lawyer sends client a decision of shareholder (in the companys name) to client to sign and return 3 days
- At this point if flying ready to sign the seller requires the documents 5 days before the signing: total = 28 days and the signing day to follow
info update: 14/12/07....
Change in Romanian fiscal law January 2008.
In December 2007 we received confirmation of the Romanian governments intentions in relation to VAT when purchasing a property.
For anyone who has purchased property, or is about to purchase property in Romania, queries in relation to this information should be addressed to your Accountant & Solicitor for confirmation & clarification.
The Romanian government have altered the tax system in relation to Government Ordinance no. 10/6/2007 from the 1st of January 2008.
This law relates to the inverse taxation system concerning apartment and land purchases for Romanian companies, under the current legal system VAT is not payable on these purchases and this system will be revised as of January 2008.
What does this mean for buyers?
On any sales purchase agreement signed after the 1st of January 2008 19.5% VAT will be payable on top of the purchase price for all apartment or land purchases.
Buyers who have already signed sales purchase agreements and made payments to the developer will pay VAT on any remaining payments.
It is important to note that every buyer will be able to claim back any VAT paid from the Romanian Government at the end of the fiscal year so this change will not actually increase the prices of the apartments.
Please contact your lawyer or accountants for further details.
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