“We don’t have APDL. So, you cannot sign your contract yet.” — Don’t be disappointed if you hear this statement from an agent while placing a booking on your desired property. However, after hearing that, you must be thinking, what exactly is this APDL which is coming between you and your long-awaited property?
Here we will tell you everything you know about APDL and how to make the procedure of selling and purchasing a property easier and thus clearing even the smallest confusion.
What is APDL?
APDL stands for Advertising Permit and Developer’s License. It is an approval acquired from the local housing ministry to advertise and commence the selling of products.
The government needs to know what is happening around them in order to prevent any wrongdoings. This is why APDL was formed. Basically, the information that the government requires includes: what is being launched, at what price the land is being sold or bought and all the development details. This way, consumers are also protected from deception.
In the case of a developer, they also have to show the license and permission of advertising. This way, all parties know everything that they need to know about any particular property.
On newspapers, this information is included at the bottom of a property advertisement. The importance of these details comes forth when serious problems present themselves. For instance, if for some reason you need to take a developer to court, then the APDL will be a big help. Through the APDL, you will know the validity period, project name, land tenure, expected completion date, minimum and maximum price as well as the building plan number.
Are you familiar with the procedures that developers do after they gain the land?
Firstly, they will make a design and seek permission from the local authorities to implement their design. After they have gotten permission, with all the formalities with the local council, the developers are instructed to submit the building plans. When the plan is approved, there are a few more permissions they must get from other departments, such as the fire safety department, building department and more. They will need to go through the legal procedures for each of these departments. All these requirements have to be fulfilled before they can move forward.
Once they have the clearance and approvals from the necessary departments, only then will the developer get the authority to apply for APDL. They can start selling the property once the APDL is given.
Developers use different strategies to attract their clients and make the entire process seem simpler. They do this so that clients will make bookings earlier, then they can go on to the next stage. They provide different offers and discounts to enhance the number of clients.
Now you know what an APDL is, what is the procedure to attain one and how you will benefit from it.
So, before you move forward, make sure you clear all your confusions and ensure safe dealings with developers