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WHAT IS THE ‘ PROPERTY DEVELOPMENT SCHEME ’ OR ‘ PDS ’?
The Property Development Scheme has its origins in the facilitation of specifically foreign real estate investment in Mauritius through the Integrated Resort Scheme ( IRS ) launched in 2002 , and then the Real Estate Scheme ( RES ) in 2006 .
The PDS is a combination of these , launched in 2015 , and allows the development of a mix of residences for sale to citizens , non-citizens , and members of the Mauritian Diaspora , under the legal framework of the VEFA .
• The development of at least 6 residential units , which may be villas or appartments , on freehold land of at least 4220m 2 .
THE PROPERTY DEVELOPMENT SCHEME PROVIDES FOR :
• The development of high quality public spaces that promote social interaction and a sense of community .
• Leisure and commercial amenities and facilities intended to enhance the residential units .
• Management services for residents , including security , maintenance , gardening , and waste disposal .
• Citizens or non-citizens of Mauritius , or members of the Mauritian Diaspora .
THE FOLLOWING PERSONS MAY ACQUIRE RESIDENTIAL PROPERTY THROUGH A PDS :
• A company incorporated / registered under the Companies Act .
• A society , where its deed of formation is deposited with the Registrar of Companies .
• A limited partnership under the Limited Partnerships Act .
• A trust , where the trusteeship services are provided by a qualified trustee ; or a Foundation under the Foundations Act .
A PDS MAY CONSIST OF THE FOLLOWING TYPES OF RESIDENTIAL PROPERTIES :
• Villas , penthouses , apartments or similar properties , used or available for use , as a residence , with appropriate services and amenities .
• Villas may not be built on plots in excess of 5,176m 2 .
• There is no restriction on the minimum price per plot .
DEVELOPERS OF PROJECTS UNDER THE PDS :
• Have to set up a “ PDS Social Fund ”, with a contribution of Rs 200,000 per unit sold to assist the neighbouring community or support a social project in the region .
• Have to evaluate the positive and negative social impacts of the development on the community .
• Submit a report on the implementation of the planned social assistance program .
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