Laguna Village
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Laguna Village - Luxury Tropical Homes in Phuket
FAQ
General
Q. What types of ownership are available?
The various types of ownership available depend upon the type of property purchased and are set out in more detail below:

Laguna Townhomes and Laguna Residences
Development licenses under the Land Allotment Code are obtained for our Townhome and Residence developments whereby individual title deeds are issued in respect of each land plot. Therefore, land plots may be owned on a leasehold or freehold basis. Under Thai law, foreigners may own buildings developed upon the land leased by them, but not the land itself. We offer a 120-year lease for non- Thais, being four terms of consecutive 30-year leases (30-years being the maximum lease term that may be permitted under current Thai law). Alternatively, freehold ownership of the land is available for Thai nationals or Thai registered companies, having a shareholding majority by Thai nationals.

Laguna Village Villas
This development project is under the Condominium Act of 1979 whereby condominiums can be acquired on both a leasehold and freehold basis. However, the number of freeholds held by foreigners in a condominium is limited to 49% of the total area of the units, excluding the area of the registered common property. Upon the completed construction, an application will be made to register the development under the terms of the Condominium Act.

Banyan Tree Villas
As these villas are an integral part of the exclusive Banyan Tree Resort, land is offered on a leasehold basis only. However, the buildings are sold as freehold.

Dusit Laguna Villas
As these villas are an integral part of the exclusive Dusit Laguna Resort, land is offered on a leasehold basis only. However, the buildings are sold as freehold.

Q. What are the costs associated with the lease / freehold registration?

A. These are outlined below:

Leasehold title
Lease registration fees and stamp duty (currently 1.1% of the land rental or lease premium) is payable to the Land Department upon registration of the lease.
Freehold registration fees (currently 2.0% of the appraisal price of property) is payable to the Land Department upon transfer and registration of title of the property. The appraisal price is calculated relative to the government's tax assessment value which is generally well below market value. Other applicable taxes upon transfer and registration of freehold title are:
Corporate Income Tax (currently 1.0% of the selling price or appraisal price, whichever is higher)
Specific Business Tax (currently 3.3% of the selling price or appraisal price, whichever is higher)
The burden between the seller and the purchaser for the above costs will be specified in the Lease and/or Sale & Purchase Agreements.

Note: Note that those certain applicable tax rates rely upon the relevant Thai tax laws at the date of issue of this FAQ.
Changes in law or circumstances may occur after the issue date.

Q. Is leasehold land transferable?

A.Leasehold land may be transferred subject to the terms and conditions of the agreements. Generally, an assignment fee is payable. In addition, the assignee must agree to be bound by the terms and conditions contained in the original lease agreement.

Q. Can leasehold be upgraded to freehold title?

A. This depends upon particular circumstances and is set out in more detail below:

Laguna Townhomes and Laguna Residences We provide in our standard lease agreements an option clause to purchase the land as freehold title during the lease term provided that the Lessee is eligible under the Thai Law. An option fee is also payable (generally 1% of the lease premium) upon upgrading of the title.

Q. Is leasehold land ownership secure?

A. Our land titles are free from mortgage and any encumbrances and this is the preferred method of ownership for foreign buyers. Once the lease is registered at the Land Department, the right of use to the land will be vested with the lessee.

Laguna Townhomes and Laguna Residences
We provide in our standard lease agreements an option clause to purchase the land as freehold title during the lease term provided that the Lessee is eligible under the Thai Law. An option fee is also payable (generally 1% of the lease premium) upon upgrading of the title.

Laguna Village Villas
This may be possible provided that the foreign ownership quota is not exceeded. Where applicable, an option fee may also be payable (generally based upon the lease premium) to upgrade the title.

Banyan Tree Villas
As these villas are an integral part of the exclusive Banyan Tree Resort, the option to purchase the land on a freehold basis is not available.

Dusit Laguna Villas
As these villas are an integral part of the exclusive Dusit Laguna Resort, the option to purchase the land on a freehold basis is not available

Q. Is leasehold land ownership secure?

A. Our land titles are free from mortgage and any encumbrances and this is the preferred method of ownership for foreign buyers. Once the lease is registered at the Land Department, the right of use to the land will be vested with the lessee.

Q. Should I appoint a lawyer to review the agreements?

Our agreements have been used for a number of years and have been reviewed by major international law firms. We have our own in-house legal team which will assist to clarify any questions you may have concerning the agreements. However, should you wish to obtain specific advice regarding the structuring of your investment, we recommend you consult with a professional legal and/or financial adviser.

Q. What is the measurement of square wah?

Our agreements indicate the property's areas with land measurement under the Thai system set by the Land Department. The most commonly used land measurements are as follows:

One rai equals 1,600 square meters
One ngan equals 400 square metres
One square wah equals 4 square metres
Q. When will be the lease / house transfer registration take place?

Within 90 days after full payments of the Rental and Purchase Price of the land and buildings have been made, we will notify the lessee / buyer of any required documents and fees which will be incurred upon registration. In case of the condominium developments, the property will be transferred once the title deeds have been registered and issued by the Land Department.

Construction
Q. How long does construction take?

A. All construction works are subject to receiving the appropriate Government approvals. Generally, it will take approximately 15 months to complete the building and landscaping from the date of commencement of construction. In the case of Laguna Village Villas, the construction will take approximately 18 months from the execution date of the sale and purchase agreement.

Q. What is the warranty period offered?

This depends upon the particular product offered and is set out in more detail below:

Laguna Townhomes, Laguna Residences and Laguna Village Villas For all new construction projects we offer a five year warranty on the main structural parts of the building, piles, footing, slab, roof structure and load bearing walls which are in accordance with Government regulations. A one year warranty is offered on component parts or accessories which are major parts of the building.

Banyan Tree Villas
A one year warranty is offered on the building.

Dusit Laguna Villas
A one year warranty is offered on the building.

Q. Is customization of the building allowed?

A. All of our residential properties have been professionally designed by leading architects and engineers and construction must be in accordance with building permits issued by the Government authorities. However, we will consider minor modifications which do not breach the construction permit and do not impact the building structure such as internal partitions, built-in furniture, wall and floor tiles, and do not affect the overall aesthetics of a development.

Rental Options
Q. Is there a rental programme available and what are the potential returns?

A. Yes, various rental programs are available. The terms and conditions of rental programs and the returns may differ depending upon the type of property. However, Laguna Phuket has a proven track record in generating excellent rental returns in addition to the capital appreciation potential that exists from owning a Laguna property within Asia's leading resort. Please contact the Property Sales Centre for further details.

Q. What are the taxes levied on the rental programme that an owner will be subject to?

A. Tax will be levied on the rental, which owners earn under The Rental Scheme Agreement. Rental earned by foreign owners who rent out their properties are subject to 15% withholding tax. Rental earned by Thai tax residents are subject to 5% withholding tax. We are not in position to advise customers on taxes. We strongly suggest you consult with an independent legal and/or tax adviser.

Property Management
Q. What types of property management services are offered and what is the approximate cost?

A. In addition to common area property management, optional property management services are available to individual owners. For properties in a rental program, these services (such as housekeeping, pool cleaning, gardening, routine and preventative maintenance, general repairs and pest control) will normally be provided as part of the rental program. However, these services are also available to nonrental program properties. Please contact the Property Sales Centre for further details.

Privileges
Q. What privileges will I receive as an owner of a Laguna Phuket property?

A. As an owner of a property in Laguna Phuket, you may be entitled to a regular membership of Laguna Phuket Golf Club. In addition, owners will receive a Resident's Privilege Card which entitles holders to generous discounts in all hotels within Laguna Phuket and access to resort facilities (terms and conditions apply).

Q. Who will be entitled to the Golf Club membership?

A. Our current policy is that if you buy the property in your name: you; your legal spouse and your children (who are not over 21 years of age) will be entitled to the Golf Club membership. However, only one person can be registered for the Golf Club membership. If the owner of the property is a company, a director must nominate which person will receive the membership.

Infrastructure & Common Areas
Q. What infrastructure facilities and services are provided?

Being an owner in Asia's leading resort, the five deluxe hotels with their restaurants, rejuvenating spas, recreation facilities (including the acclaimed Laguna Phuket Golf Course) and Canal Village shops are all within easy reach via the free inter-resort shuttle bus and ferry services.

The infrastructure facilities and services meet the same high standards of the hotels and include:

Security - 24-hour security guards stationed at the entrance gates to each project.
Roads and fences - each gated community contains a private internal road and a perimeter wall.
Electricity - power is provided by the Provincial Electricity Authority of Thailand.
Water - each project contains its own supply from either a reservoir and/or deep well.
Landscaped area - at least 5% of the total project area is provided for common use of the owners.
Communications - each house is provided with two external telephone lines. Broadband and cable TV connections need to be separately arranged.
Garbage collection - provided on a daily basis by Laguna Service Company.
Estate Management - a dedicated estate management office is provided to oversee the 24-hour security, garbage collection, gardening and landscaping, general cleaning and ongoing maintenance of common areas in the project. Our dedicated staff are also happy to assist owners with any reasonable request.

Q. What are the estimated common area charges?

Common area charges are the costs the owners pay for ongoing maintenance and upkeep of the common infrastructure and facilities, which are provided for their benefit. These are set out in more detail below:

Laguna Residences and Laguna Townhomes
The common areas are managed on behalf of owners by our dedicated estate management office. The annual charges that apply differ from project to project depending upon the total expenses and the total number of properties within a project among which the expenses will be proportionately divided. Details of the estimated annual fees for a particular project can be provided upon request. In addition, a sinking fund will be established for each project. The purpose of the sinking fund is to accumulate funds for major infrastructure repairs and/or improvements which may be undertaken in the future. Rather than charge a large upfront amount, contributions will be sought on a regular basis so that the fund is built up over time.

Laguna Village Villas
The common area is managed by the Condominium Juristic Person (CJP). The annual charges are based
on the total expenses incurred and are divided by the total number of properties on a proportionate
basis. Details of the estimated annual fees for a particular project can be provided upon request. In
addition, a sinking fund will be established for each project. The purpose of the sinking fund is to
accumulate funds for major infrastructure repairs and/or improvements which may be undertaken in the
future. Rather than charge a large upfront amount, contributions will be sought on a regular basis so that
the fund is built up over time.

Banyan Tree Villas
Common area costs are absorbed by the Banyan Tree as part of their normal operating costs.

Dusit Laguna Villas
Common area costs are absorbed by the Dusit Resort as part of their normal operating costs.

Financing
Q. What are the terms of payment?

A. For all new properties sold, we offer 2 options of payment plans. Payment terms are as follows:

Option 1: 100% Payment Term

Reservation Deposit Baht 250,000****
1st Payment upon signing contract 20% of selling price
2nd Payment when construction is 25% complete* 20% of selling price
3rd Payment when construction is 50% complete** 20% of selling price
4th Payment when construction is 75% complete*** 20% of selling price
5th Payment upon completion of construction 20% of selling price

Notes:
1. Concrete structure substantially complete*
2. Roof, brickwork and rendering substantially complete**
3. Electrical conduits, pipework and plastering substantially complete***
4. Reservation deposit of Baht 250,000 is not apply to Banyan Tree DoublePool Villas and Dusit Laguna Villas (ocean frontage) project****

Option 2: Deferred Payment Term**

Selling Price
Reservation Deposit 50% Payment During Construction
Post
Construction
Payments
Post Construction - Monthly Installment
1 year plan
7.5% interest
3 year plan
9% interest
5 year plan
12% interest
11,000,000 250,000 5,500,000 5,250,000 455,476 166,949 116,783
12,000,000 250,000 6,000,000 5,750,000 498,855 182,848 127,906
13,000,000 250,000 6,500,000 6,250,000 542,234 198,748 139,028
14,000,000 250,000 7,000,000 6,750,000 585,613 214,648 150,150
15,000,000 250,000 7,500,000 7,250,000 628,991 230,548 161,272
16,000,000 250,000 8,000,000 7,750,000 672,370 246,448 172,394
17,000,000 250,000 8,500,000 8,250,000 715,749 262,348 183,517
18,000,000 250,000 9,000,000 8,750,000 759,127 278,248 194,639
19,000,000 250,000 9,500,000 9,250,000 802,506 294,148 205,761
20,000,000 250,000 10,000,000 9,750,000 845,885 310,047 216,883
21,000,000 250,000 10,500,000 10,250,000 889,264 325,947 228,006
22,000,000 250,000 11,000,000 10,750,000 932,642 341,847 239,128
23,000,000 250,000 11,500,000 11,250,000 976,021 357,747 250,250
24,000,000 250,000 12,000,000 11,750,000 1,019,400 373,647 261,372
25,000,000 250,000 12,500,000 12,250,000 1,062,778 389,547 272,494
26,000,000 250,000 13,000,000 12,750,000 1,106,157 405,447 283,617
27,000,000 250,000 13,500,000 13,250,000 1,149,536 421,346 294,739
28,000,000 250,000 14,000,000 13,750,000 1,192,914 437,247 305,861
29,000,000 250,000 14,500,000 14,250,000 1,236,293 453,146 316,983
30,000,000 250,000 15,000,000 14,750,000 1,279,672 469,046 328,106
31,000,000 250,000 15,500,000 15,250,000 1,323,051 484,946 339,228
32,000,000 250,000 16,000,000 15,750,000 1,366,429 500,846 350,350
             

Notes:
1. All amounts are stated in Thai Baht.
2. The above table sets out the estimated payments required under the respective payment plans for selling prices between Baht 11-32 million.
3. The estimated payments are indicative only and the developer / seller does not accept any responsibility or liability whatsoever for any inaccuracies or omissions.
4. One year deferred plan is 12 equal monthly installments (7.5% interest applies).
5. Three year deferred plan is 36 equal monthly installments (9% interest applies).
6. Five year deferred plan is 60 equal monthly installments (12% interest applies).
7. Payment terms are subject to change without notice.
8. Deferred payment plans on Dusit Laguna and Banyan Tree properties are not available.

 
 
 
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