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FAQs

01HAS THE MASTER PLAN BEEN APPROVED BY CMA?

Yes. All necessary approvals have been obtained.

02IS THE DEVELOPER ADDRESSING THE SOCIAL AND ENVIRONMENTAL IMPACTS OF THE DEVELOPMENT?

To address the environmental impacts of the development, Achilleion will be equipped with centralized air conditioning, centralized water heating and gas banks. These will help reduce the consumption of electricity and water. Due to the design of Achilleion, all the apartments will receive sufficient natural light and cross ventilation leading to less dependency on artificial light.

03WHO IS THE INTENDED TARGET MARKET?

To address the environmental impacts of the development, Achilleion will be equipped with centralized air conditioning, centralized water heating and gas banks. These will help reduce the consumption of electricity and water. Due to the design of Achilleion, all the apartments will receive sufficient natural light and cross ventilation leading to less dependency on artificial light.

04WHAT IS THE OVERALL CONCEPT OF THIS PROJECT?

To be first ever 7 Star Luxury Residential Apartment in the world, developed by Blue Mountain Apartments together with Palmer and Turner group of Singapore.

05ARE THERE FLOOR RESTRICTIONS APPLICABLE TO FOREIGNERS BELOW WHICH THEY CANNOT PURCHASE APARTMENTS? IF NOT, ARE THERE SOME ADDITIONAL COSTS INCURRED BY THEM TO DO SO?

Any condominium unit of a condominium property situated on or above the fourth floor of such condominium property, the ownership of which is transferred to a person who is not a citizen of Sri Lanka will be exempt from the 100% tax imposed under the Finance Act No.11 of 1963, provided that the value of such unit is met by inward remittances of foreign currency.

06HOW MANY APARTMENTS CAN A SINGLE BUYER OWN?

A buyer is not limited to owning any particular number of apartments.

07WHAT WILL HAPPEN TO Station & Marine Drive ROADs?

According to the Colombo plan proposed by the Ministry of Megapolis, the marine drive is to be expanded to incorporate more lanes to ease traffic flow. Further more there is to be a Metro System introduced throughout Colombo City enhancing the transportation system.

08HOW DO YOU HIGHLIGHT THE ADVANTAGE OF THE LOCATION?

Apart from being one of the most elite residential areas of Colombo and over looking thee vast Indian Ocean, Achilleion is located in close proximity to schools, hospitals, entertainment centers and hotels. Please refer to the location map for more details.

09WHAT ARE THE PROPOSED DEVELOPMENTS ON THE ADJOINING LANDS?

There are no developments are approved by authorities disturbing the view from Achilleion.

10WHAT VIEWS CAN ONE EXPECT FROM THE APARTMENTS?

Due to the design of the Apartment project, 85% of the apartments have direct sea view, remaing apartments having city view

11WHAT IS THE PRESENT VALUE OF THE PROJECT?

The present value of the project is estimated to be USD 215 Million.

12WHAT ARE THE SPECIAL FEATURES OR THE USP’S?

Resident owned helicopter, fleet of limousines, sky bridge, sky restaurant, 24x7 medical center, comprehensive library, business center and concierge service are among unique features of Achilleion.

13IS THE BUILDING DESIGNED TO WITHSTAND EARTHQUAKES?

Yes, the building has been designed based on international standards. It can withstand earthquakes ranging between 6-7 on the Richter scale.

14 HOW HAS THE ARCHITECT ADDRESSED SRILANKA’S GEOGRAPHIC, SOCIAL AND CULTURAL ELEMENTS WHEN CREATING THE BUILDING?

Taking into account that Achilleion is strategically located within the outskirts of the city, it is the perfect hub to several well renowned schools, Universities as well as businesses and financial institutes.

15WHAT IS THE GUARANTEE THAT THE DEVELOPMENT WILL BE COMPLETED?

The developers, being MAGA, are highly renowned and trusted in the industry. The proposed project is on a free hold land owned by the developers, Blue Mountain Group, with clear title deeds. Blue Mountain Apartments Colombo 4 is a BOI registered company.

16WHAT IS THE MINIMUM DOWN PAYMENT AT THE TIME OF RESERVATION?

At the time of reservation 1 Million Rupees (1,000,000/-) of the purchase price needs to be paid

17HOW MANY APARTMENTS WOULD THERE BE IN TOTAL?

There will be approximately 584 apartments.

18WHAT IS THE RANGE OF APARTMENT SIZES?

The sizes of the apartments offered vary between 576.51 and 4541 Sq. Ft.

19HOW MANY APARTMENTS DOES EACH FLOOR CONSIST OF?

The project consist of two towers, each holding 8 apartments on a given floor. The apartments start off on the 10th floor all the way upto the 48th

20ARE YOU GIVING ANY RENTAL GUARANTEE?

No

21WHAT LEVEL DO YOUR APARTMENTS START FROM?

Apartments start from level 10

22WHAT IS MY SECURITY ON MONEY PAID?

The payment plan for this project is construction linked unlike other projects that are time linked, i.e., payments are to be made at specific project completion stages.
Additionally, an escrow account has been set up between the purchaser, developer and the bank. Thus assuring the buyer that the money is being consumed solely for the construction of Achilleion.

23IF I TRANSFER MONEY INTO SRI LANKA CAN I TAKE IT OUT IF I DECIDE TO SELL AND WHAT IS THE PROCEDURE?

Capital + Capital gains freely repatriable. No Capital gain tax on sale of property for foreign residents.

24AT WHAT EXCHANGE RATE WILL THE PAYMENTS BE MADE? WILL IT BE FIXED OR A DAY-TO-DAY CONVERSION RATE?

Payment will be calculated on the prevailing rate of exchange on the date of payment. In the case of payment of stamp duty, stamp duty will be calculated on the prevailing rate of exchange on the date of execution of the Deed of Transfer.

25WHAT ARE MY OTHER COSTS APART FROM THE PURCHASE PRICE?

Legal and stamp duty costs.

26WHAT STAMP DUTY, REGISTRATION FEES, VAT, ETC. DO I HAVE TO PAY AS A FOREIGNER?

There is no difference in the sum/ method of payment of any of the above.

27HOW DOES THE AIR CONDITIONING SYSTEM WORK AT Achilleion?

Each apartment is fitted with a VRF Multi-split air conditioning unit, allowing for the temperature to be controlled indivually in each room and living area.

28WHAT’S THE USE OF MEP ROOMS IN THE BUILDING?

To monitor and bill the use of LPG, chilled water, power and water services by the Building Management System (MEP) will facilitate an accurate and timely billing procedure.

29HOW MANY ELEVATORS ARE BEING PROVIDED? WHAT WOULD BE THE SIZES AND SPEEDS OF THESE ELEVATORS?

There will be a total of 9 elevators; 7 of which would be passenger elevators and the remaining 2 would be service elevators. These elevators provide a minimum occupancy of 13 passengers and have high speeds of above 3.5 m/sec.

30WHAT ARE THE FACILITIES PROVIDED?

Helicopter service/ Merc Limo service/ 24/7 Medical Centre/ Sky Bridge/ Concierge Service/ State of the art Business center/ Private 3D cinema/ Sunset pool bar/ Horizon Jacuzzi/ Mediterranean bubble pool/ Balinese Spa/ Eco club house and party hall/ Tropical function deck/ BBQ Cooking Pavilions/ Wellness gym/ Steam Rooms/ Game Rooms.

31WHAT KIND OF FINISHES WOULD YOU PROVIDE FOR FLOORING, BATHROOM FITTINGS, ELECTRICAL FITTING, PANTRY CUPBOARDS, LIGHT FITTINGS, DOORS AND WINDOWS ETC.?

Please refer to the specifications section.

32HOW MANY LEVELS OF PARKING ARE YOU PROVIDING?

We are providing 10 levels of parking.

33IS THERE A PROVISION FOR VISITOR PARKING?

Yes. An adequate number of parking spots are being provided for visitor cars.

34HOW MANY CAR PARKS DO YOU PROVIDE WITH EACH APARTMENT?

There is a provision for 1 car park per apartment for 3 bedroom apartments and 2 car parks for 4 & 5 bedroom apartments. These spots will be allotted to residents. Additional car parks are available at an extra cost subject to availability.

35HOW MANY ENTRANCES WILL THE BUILDING HAVE?

The building will have 1 entrance

36WHAT IS THE WARRANTY PERIOD FOR THE PRODUCTS AND FINISHES?

We will provide fittings and fixtures of well-reputed companies whose products will cover extensive warranties offered by the manufacturers

37WHAT RETAIL OUTLETS WILL YOU PROVIDE?

None. Residents will enjoy the privacy at its highest level.

38WHAT SECURITY SYSTEMS WILL THE BUILDING HAVE IN PLACE?

Achilleion will be equipped with a state-of-art multi-tier security system in line with industry best practices. The comprehensive people management plan will facilitate an accurate identification of each entrant while providing a secure and unhindered passage for residents.
Each apartment will have a video door-phone connected to the control room and main entrance to monitor visitors and guests. The Building Management System will provide a 24x7 surveillance coverage at strategic locations.

39WHAT FIRE DETECTION SYSTEMS WILL THE BUILDING HAVE IN PLACE?

Achilleion will be equipped with a modern fire fighting system consisting of a network of sprinklers & smoke detectors, pressurized staircases, wet risers and fire extinguishers.

40IN CASE OF A FIRE HOW WILL PEOPLE GET OUT OF THE BUILDING FROM THE HIGHER FLOORS?

There will be pressurized fire escape staircases and a fire lift that will have fire resistant doors so that the smoke cannot enter these areas. There will be fire escape and fire rescue platforms on so that people can be evacuated.

41WHEN DO YOU EXPECT THE MODEL APARTMENTS TO BE READY BY?

Already completed

42WHAT IS THE ESTIMATED COMPLETION DATE?

The expected completion year for this development is 2020 end of December

43WHO IS THE CONTRACTOR FOR THIS PROJECT?

A reputed and capable contractor with prior experience in high-rise constructions will be appointed for a project of this magnitude. A shortlisting process is ongoing.

44WHO IS THE ARCHITECT AND THE LOCAL ARCHITECT FOR THIS PROJECT?

A world-renowned celebrity architect, Palmer and Turner from Singapore in conjuction with local architect Surath Wickramasighe Associates.

45WHICH STRUCTURAL ENGINEERING FIRM HAS BEEN APPOINTED FOR THIS PROJECT?

Derby Design is the structural engineering firm for this project. They are experts in designing structures of high rises and have accomplished many challenging structures worldwide.

46WHO IS YOUR LAWYER?

Nithya Partners

47WHAT IS THE POSSIBILITY OF VIEWING A COPY OF THE TITLE DEED AND COPIES OF GOVERNMENT APPROVALS?

The title deed and all approvals are available on request.

48AT WHAT STAGE WILL YOU EXECUTE THE TRANSFER OF DEEDS?

Once the Condominium Plan has been registered and on the complete purchase price being paid the Deed of Transfer can be executed.

49IS THE PROPERTY A FREEHOLD OR LEASEHOLD TO THE END USER?

The Property is a free hold and owned by Blue Mountain Group

50WHAT ARE ALL THE POSSIBLE CHARGES AND TAXES FOR AN APARTMENT (STAMP DUTY, REGISTRATION, VAT, ETC.)?

Stamp duty, registration fee at the Land Registry (this will be a very nominal sum), and assessment rates to be paid to the local authority.

51IS THE PROPERTY A FREEHOLD OR LEASEHOLD TO THE END USER?

The land is a free hold property and shall be transferred as such under the clients name.

52HOW CAN I OBTAIN THE LEGAL DOCUMENTS REQUIRED FOR THE PURCHASE (TITLE, LICENSES, PLANNING, ETC.)?

Legal documents will be provided on receipt of application and payment of token money. Copies of the title deed and sale agreement can be handed over to a purchaser for purposes of examining the documents.

53 HOW TO REALIZE AND REIMBURSE THE DEPOSIT OF COMMON SERVICES (ELECTRICITY, GAS BANK, ETC.)?

Provision for payment of common services will be made to the Management Corporation upon the purchaser becoming a member of the Management Corporation. There is provision in the Sale Agreement.