Basis of sale of a residential property

Published on the
  • A residential property under the SCS may be sold either on the basis of a plan, during the construction phase or when the construction is completed
  • Where the acquisition of an immovable property is made on the basis of a plan or during the construction phase, the contract shall be governed by the provisions of a “vente à terme” or vente en l’état futur d’achèvement (VEFA)”, as the case may be, in accordance with provisions of articles 1601-1 to 1601-45 of the Code Civil Mauricien.
  • A sale for future delivery is the contract by which the seller undertakes to deliver the building on its completion, and the buyer undertakes to take delivery of it and to pay the price of it at the date of delivery. The transfer of ownership is achieved by operation of law by the acknowledgement of the completion of the building through an authentic instrument; it is effective retroactively on the day of the sale.
  • A sale in a future state of completion is the contract by which a seller transfers at once to the buyer his rights in the ground as well as the ownership of the existing structures. The works to come become the property of the buyer as they proceed; the buyer is bound to pay the price of them as the work proceeds.
  • In accordance with the provisions of Article 1601-30 of the Code Civil, the price of a residential unit when sold under “vente en l’état futur d’achèvement” is payable in installments as the work progresses, as follows:
    • Upon signing of the deed: 25%
    • Upon completion of the foundation works: 10%
    • Upon completion of roofed-in phase: 35%
    • Upon completion: 25%
    • Upon availability of premises: 5%
  • A smart city company or smart city developer shall sell at least 25 per cent of its residential properties to a citizen of Mauritius or member of the Mauritian Diaspora registered under the Mauritian Diaspora Scheme.
  • The remaining 75 per cent may be sold to non-citizens of Mauritius.
  1. The Concept: Live, Work and Play
  2. The Small City Scheme from a Mauritian Perspective
  3. Legal Basis
  4. Basis of sale of a residential property
  5. Residency in Mauritius
  6. Projects under the Smart City Scheme
  7. Moka Smart City looking forward to the LEED-ND certification

More Articles in : Invest

Our Files

Buying an IRS

You are a foreigner who has heard a lot about Mauritius and you wish to settle in the country? It is now possible: you just have to buy an IRS (...)

Buying a RES

If like many other foreigners you have been so charmed by Mauritius Island that you are willing to settle there, you may opt for the Real Estate (...)

Buying an IHS

Invest Hotel Scheme has been designed to enable property developers to sell hotel rooms, villas, suites or any other part of a hotel to (...)

Buying a PDS

This publication contains guidance for promoters who want to develop a project under the Property Development Scheme (PDS). These guidelines are (...)

The Smart City Scheme

Mauritius is now turning towards the Smart City concept. Despite the fact that there is no universally accepted definition of the term Smart (...)

Buying in G+2

The Non-Citizens (Property Restriction) Act has been amended in December 2016 to allow foreigners to purchase apartments in condominium (...)