Tél.: (+ 230) 263 3136 / 263 2514 info@sareg.mu

Frequently Asked Questions

MON ILE SUMMARY

Q1: What is Mon Ile?
A :To catch up with part of the forgotten architectural history of these people discovered centuries ago, by amalgamating that of today to restore the balance.

Q2: Where is Mon Ile located?
A: The site is located in Trou aux Biches, in the North East coast of the island, 10 minutes from Grand Bay and 20 minutes from the capital city, Port-Louis. Moreover the project is only 150m away from the beach allowing homeowners to enjoy romantic sunset’s right from their property.

Q3: Where does it get its name from?
A: Our everlasting passion for this uniquely diversified country be it through its fauna or its people has pushed us towards creating this concept.

Q4: How big is the project ?
A: The Mon île project site extends over 5.30 acres (22,793 m²).

Q5: Who manages the commonhold property ?
A: A management agent will be appointed upon delivery to the owners and shall operate under the aegis of the SAREG group.

Q6: Under which local authority will the owners depend upon ?
A: The district council of Pamplemousses

Q7: Why this particular site ?
A: The site has been chosen for its ideal geographical location in the north of the island, thereby adhering to the 4 following elements :
Closeness to the sea
Quietness
Near all the prerequisites required for an exceptional lifestyle : shopping malls, motorways, private
schools, medical centers, beaches, restaurant…
A beneficial climate all year round

Q8: Are the promoters using local vegetation for the lanscaping of the project ?
A: Using local vegetation has been paramount for the promoters. Hence the reason behind building only 25 units on 5.30 acrea and having access roads wide enough to accomodate 2 vehicles at the same time. On the sides of the roads are pavements leading to densely vegetated round abouts. All those elements combine together into a RES project which respects nature.

Q9: Are pets allowed inside the compound ?
A: All living organisms are allowed inside the compound.

Q10: Is there a school bus service ?
A: Yes. School buses and minivans are available to primary and secondary school students. The schools will provide you with the contact details of the person in charge of managing school transportation. This service is usually optional and available against a fee which is usually not included in the schooling fees.

Q11: Can we get to the beach by foot or by bicycle ?
A: Yes the closest beach is 150 m from the compound. It is thus accessible both by bike and by foot. On a bicycle, you can cycle further to the public beaches of Trou aux Biches and Mont Choisy (please check the dedicated section on living in the north of the island). The advantage with the roads in that part of the island is that they are all flat.

Q12: Can you please provide some more precise information on the location of the english schools ?
A: There are some English school in the North : IPS – Northfields situated at 10 to 15 min from Mon Ile and in the center of Mauritius.

Q13: What type of scenery will I see from the compound ?
A: You will have a sea-view from the roof terrace and for some villas from their garden.

Q14: Can you please send us a picture of the land on which the project will be erected?
A: Yes, we can send you a picture view of the sky via the site GOOGLE MAP, you can ask us to our commercial department 00230 263 31 36 – info@sareg.mu

Q15: How far are we from shopping mall ?
A: About 5 minutes from supermarkets and restaurants. The village of Triolet is right next door with a vibrant main street with many types of shops. Then at about 10 minutes away from the site is Grand Bay, with its Super U hypermarket, and the mall of Grand Baie Croisette with its restaurants, shops, cinema…..

ARCHITECTURAL CONCEPT OF MON ILE

Q1: What kind of architectural concept did you opt for Mon Ile ?
R: We especially, through this project want to create an architecture born from our passion for Mauritius, both innovative and unique.

Q2: How big are the villas?
A: More than 300 m² of living space.

Q3: Can I choose the layout plan and the size of my villa ?
A: Each villa is unique and we offer you the chance to personalise your interior and exterior. We also suggest options.

Q4: How long will it need to build my villa ?
A: It depends on the progress of work. Knowing that all the villas are already under construction.

Q5: Do all the villas have a swimming pool as standard or is this optional ?
A: All the villas are equipped with an overflowing swimming pool on one side with slates or a similar material with a waterfall.

Q6: Are lightings, fittings and furniture included in the purchase price ?
A: We have preferred to allow the owner to asset his individual character and have therefore decided not to include the furniture, However we have a preferred designer who can assist you with your interior design should you request it.

Q7: What multimedia connections are available ? IsTelephone, Cable TV, broadband internet and other type of multimedia pre-installed in “Mon Ile” ?
A: Yes, all such services will be pre-installed. The subscription will be at the owner’s responsibility.

Q8: What kind of security is available?
R: Mon Ile has a security24/7 with guards.

Q9: Do you offer an optional furniture package ?
A: Yes, and you can see it with the interior decorator and your wishes at the moment desired to respond and satisfy you at best

Q10: When are you expecting to finish the construction works ?
A: we planned the end of the construction end of 2016.

Q11: Do you have pictures about the future interior decoration?
A: You have already delivered many villas with a furniture pack so we can show you pictures about it and we can see together your taste for adapt the furniture pack. With the pictures you can have an idea more precise for the quality we provide.

Interior design suggestion?
A: We only have a rendering which represents the general mood of the development. We are currently finalising the brochure with our preferred partner ESPRIT CONTEMPORAIN. For a personalised furniture package, this will be made availble to you upon request.

Q12:Do you have the technical specifications of the villas?
A: Yes we do. Should you wish to receive them, kindly fill in the CONTACT US section.

Q13: How big is the swimming pool ?
A: 10×4 or 40 m²

Q14: From my understanding, there exists 2 types of villas, each with 4 bedrooms, is that correct ?
A: We have 2 types of villas: one in form of “L” and the other in form of “I”, all are different, with 3 or 4 bedrooms depending of the villas.

Q15: What do you mean by the « Interactive » section mentionned on the Masterplan which is found at the entrance of the compound ?
A: This refers to the commercial and leisure area which will be added facilities offered to residents. Such will be set up based on the habits, wishes and needs of the owners.

Q 16 : Do you propose an interior designer ?
A : Yes it’s an option we propose to our owner. We have a furniture pack personalized. Contact us for more information.

FINANCIAL HIGHLIGHTS

Q1: Why invest in Mauritius ?  
A : Investing in Mauritius is an excellent opportunity for the foreign investor for the following reasons :

  • Mauritius is politically and socially stable
  • The island has a strong and diversified economy
  • Modern Infrastructure
  • A bilingual workforce
  • a growing international business center
  • Access to world markets
  • Flexible labor laws
  • A great and sound place to live and work

((Should you require more information, please visit the website of the Board of Investment of Mauritius :http://www.investmauritius.com/BOIPortal_fr/Reason1.aspx)

Q2: Does Mon Ile propose to the potential owner a financial assistance system?
A: The SAREG group will assist you and inform you for choose your bank.

D - PAYMENT TERMS AND GUARANTEES

Q1: What guarantees and comfort does the promoter offer?
A:The sales are in VEFA , moreover the promoter benefits from an “Intrinsèque” guaranty.

Q2: With respect to the sales deed, the payment calendar and the legal parameters, what should I be informed of?
A: All those information shall be made available to you once you have reserved your villa.

Q3: How much to the villas cost?
A: It depends of the villas. Please contact us for further informations.

Q4: What are the payment terms?
A: The payment terms are outlined in the table below:

Construction programme
01
5% at the reservation
02
30 % upon completion of the foundations
03
20% upon completion of the floors
04
10% upon completion of outside walls and roof is placed
05
5 % upon installation of windows and outside doors
06
20% upon completion of partitions
07
5% After Completion of work
08
5% Upon Handover of keys Time frame to deliver each villa
LEGAL INFORMATION AND SUBSEQUENT

Q1: What is the RES Scheme ?
A: Following the measures announced in the Budget Speech 2007/08, the Investment Promotion (Real Estate Development Scheme) Regulations 2007 came into operation on 29th November 2007. This scheme is an extension of the IRS and it is especially designed for small land- owners. The RES is the second Development scheme allowing a foreign investor to purchase a property in Mauritius.
The RES legal framework is inspired by the IRS with simplified procedures for the owner of the land on which the project is being conceived. This type of development has been designed for smaller land owners ranging from a minimum of 1 acre but not exceeding 10 Ha. There is no minimum purchase price for a RES property. However those purchasing a RES property whose price exceed USD 500,000 are entitled to a residence permit.

  • Who can buy a RES property ?
  • A foreign individual
  • A Mauritian national
  • A Domestic company duly registered as per the provisions of the Companies Act 2001

Q2: Who can develop a RES project ?
A: Small landowners who own at least 1 arpent but less than 10 hectares in total. The computation of the 10 hectares will take into account the total extent of land owned by the landowner, his/her spouse & dependents who have not yet reached the age of 18. Land owned in a company, société or trust will also be computed. The landowner should have owned the land for at least 5 years.

Q3: I have this year inherited a piece of property owned by my parents for 5 years. Am I eligible for the scheme ?
A: Yes.

Q4: Can a landowner group together with other landowners?
A: A landowner can group with other qualifying landowners, that is, each landowner should satisfy the two criteria above, in question (2), and also ensure that the extent of the land does not exceed 10 hectares in the aggregate; and the plots of the land for development are contiguous. Only one project will be allowed on the site.

Q5: Can I develop a RES project on state land ?
A: No. A RES project can be developed only on freehold property.

Q6: Is this scheme only for sugarcane planters?
A: No, any landowner whether in rural or urban area satisfying the two criteria above, in question (2) is eligible.

Q7: Who should I consult to confirm compliance with the Outline Scheme?
A: You should consult the Planning Department of the local authority (District Council or Municipal Council) of the area.

Q8: What can be developed within a RES project ?
A: You may build villas, apartments, penthouses. The project should also comprise commercial and leisure facilities.

Q9: What are the planning constraints for the development of the project ?
A: You need to consult the Planning Policy Guidance (PPG) issued by the Ministry of Housing and Lands.

Q10: How can I find investors for my project?
A: You may register yourself with the Board of Investment by providing all information . BOI will then put you in touch with investors as and when they may express an interest. The SAREG group can equally provide assistance and advice on investments as well as assist in finding suitable investors willing to invest in your property development project.

Q11: When can I start marketing and taking reservations of the residential units?
A: As from the Letter of Approval, the RES Company may only sign a contract pending completion of the building and cause the buyer to transfer 5% of the value of the property in an escrow account.

Q12: Can I also sell the commercial and leisure facilities?
A: Yes. However, an authorization from the BOI is required where sale is made to a non-citizen. The non-citizen can only acquire the property under the name of a company incorporated in Mauritius and registered as an investor with the BOI.

Q13: Has the promoter received his letter of approval from the BOI ?
A: Yes the SAREG group did get its letter of approval.

Q14: Upon obtaining my residence permit, will I be entitled to work ?
A: No. Other formalities will have to be undertaken to obtain a working permit.

Q15: Is it possible to create one’s own company or buy one existing in order to work?
A: Yes, so long as you abide by the companies Act. Very often foreign investors find a local partner, mainly for their local knowledge of procedures. The SAREG group offers such service and will assist you to set up your company to buy back an existing business so as to ensure you that you have peace of mind while embarking on your new project.

Q16: If we purchase a RES, is it compulsory for us to work ?
A: No. This is why many foreign retired choose this investment option to make the dream of their lifetime come true…their island in the sun.

Q17: When do you obtain your permanent resident status ?
A: Upon delivery of the villa.

FISCAL MODEL

Q1: Why is MON ILE a good investment ?
A: By restating the philosophy of the promoters : « Make the owner a potential investor so as to be worthy of his trust today and worthy of his faith tomorrow as well as sell below market rate, allowing to save on time, hence save on money with an accelerate rate of sale which will allow to spend time on developing other RES projects.

Q2: What kind of taxes will the owners be subjected to ?
A: There are no land taxes applicable. There is however a rental income tax of 15%. Moreover the following countries have signed a double taxation treaty with Mauritius : Barbados, Belgium, Botswana, Croatia, Cyprus, Sri Lanka, France, Germany, India, Italy, Kuwait, Lesotho, Luxembourg,Madagascar, Malaysia, Mozambique, Namibia, Nepal, Oman, Pakistan, Bangladesh, China, Rwanda,
Senegal, Seychelles, Singapore, South Africa, Qatar, Swaziland, Sweden, Thailand, Tunisia, Uganda,
United Arab Emirates, United Kingdom, Zimbabwe, see more on the BOI website.

CHARGES, TAXES - FEES

Q1: I am used to working with a notary who is used to take care of all my property transactions; will he be able to structure the purchase of my Mon Ile villa?
A: He should contact our notary as Mauritian law contains certain specificities

Q2: What are the monthly charges payable by the owners ?
A: A monthly charge of EUR 250 should be budgeted for the security service the gardener and maintenance of common areas.

Q3: What are the other fees due during the purchase of my property ?
A: Registration fee, BOI tax, notary fees, administrative fees. For more information please contact us.

RENTAL MANAGEMENT OF THE VILLAS

Q1: Is it possible to finance the purchase of the property through weekly or monthly rental (montage package together with rental management) ?
A: Yes it’s possible.

The SAREG group proposes also to assist you in your financing approaches.

PROMOTERS AND TEAM

Q1: What is the promoter’s vision ?
A: To live in his island.

Q2: Who designed the concept of Mon Ile?
A: Mr Attilio Veltri.

Q3: What are the previous achievementof the promoter ?
A: The SAREG group and its chairman Mr. Attilio Veltri conceived the original and exceptional MON ILE concept. Attilio Veltri is an experienced real estate developer with project in the South of France. Following his love for Mauritius, he settled here so that he could bring in his experience and expertise. Attilio Veltri has been project manager for the BOUYGUES group in Ivory Coast in 1978. He
continues as an accompanist OMS always in Ivory Coast. In 1984 he returned to France in Douai to create his building company EBR. Creating concepts becomes his passion and in 1986 conceives and markets the Arcades D’Ornex in 1986. In 1995, he makes a drastic change and creates a communication company « TELEVILLAGE and TEVECOM” in the south of France as well as the
website OUKOIKI. Back in real estate development, Attilio veltri then designs, builds and markets 11 luxury villas around Cannes : “Les Terres de l’Olympe” in 2000. He also oversees the setting up of the common hold area including the access roads and waste water management. In 2008, he becomes an advisory consultant in financial structuring of property developments as well as all areas of
property development from concept to realisation…

TOURISM INDUSTRY AND GENERAL INFORMATION ON MAURITIUS

Q1: Tell me more about the island.
A : You can please check the section on  » The island’s essentials ».

Q2: Give me more details about Mauritius ?  
A : You can check the  « living in Maurritius » section of expat blog..