FAQ

EVERYTHING YOU NEED TO KNOW ABOUT 447 LUNA TOWER

447 Luna Tower is soon to take its place amongst the residential giants on the Colombo skyline.

Not only will it transform the landscape of Union Place but it will occupy a coveted spot at the heart of the city. Constructed on prime real estate, 447 Luna Tower stands 44 floors tall and boasts 190 upscale apartments.

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Building

Where is 447 Luna Tower located?

At no. 447 Union Place Colombo 2 (Location)

Who are the developers for 447?

Asia Capital and Belluna Co. Ltd (Partners)

What is the concept behind this project?

447 Luna Tower offers a lifestyle where luxury meets convenience.

What are the noteworthy features of this development?

Sea and Port City views / Beira Lake views/ Viharamahadevi Park views / city views (Apartments)

What is the design concept?

447 Luna Tower boasts contemporary design with cultural elements

Who is the architect?

Principal Architect – Philip Weeraratne Architects. Design cosultants – Singapore based Ong & Ong (Partners)

Who is the contractor for the development?

Sanken Construction

Who are the structural engineers?

Arup and NCD Consultants (Partners)

What land extent does 447 Luna Tower occupy?

95.52 perches

How many floors does the condominium have?

44

When did 447 Luna Tower break ground?

12th October 2016 (Construction Progress)

What is the scheduled date of completion?

April 2020 (Construction Progress)

Apartments

How many units in total?

190

Which floor do the apartments start from?

8th floor

How many apartment types?

7 types, 5 layouts

What are the apartment sizes?

2 bedroom (842 sq ft​ / 993 sq ft / 1, 070 sq ft) / 3 bedroom apartment (1690 sq ft) / 4 bedroom (2283 sq ft)

How many 2 bedroom units will there be?

132 ( 32 A-type / 72 B-type / 28 C-type )

How many 3 bedroom units will there be?

36

How many 4 bedroom units will there be?

22

How many units per floor?

Levels 8 to 22 – 6 apartments per floor (5 x 2bed) (1 x 3bed) / Levels 23 to 44 – 5 apartments per floor (3 x 2bed) (1 x 3bed) (1 x 4bed)

Will there be accessible units?

Yes, there will be 5 (9B1 / 9B2 / 10B1 / 10B2 / 11B2)

Which units have a maid's room?

3 bed (D-type) / 4 bed (E-type)

How many parking slots per apartment?

1 for 2 & 3 bed units / 2 for 4 bed units

Will there be additional car parks available for purchase?

Yes. They will be sold on a first come, first served basis at LKR 2 Million each

Apartment features

What will the floor to ceiling height within the apartments be?

10 feet with floor to ceiling windows in all living spaces

Will the windows be sound-proof?

Yes, double glazed glass will be used.

What type of flooring will the apartments have?

High-quality engineered timber flooring in the living, dining and bedroom

Will the apartments have air conditioning?

Yes. Energy saving air conditioning systems with Independent VRV (Variable Refrigerant Volume)

What security features will be in place in the units?

Audio visual door entry system, smart card door access control, multi-locking system for every front door

What fire detection systems will be in place in the units?

Kitchen – heat & gas detectors, Bedrooms/Living/Dining – smoke detectors, system is addressable fire detection system

Bedrooms

Will all bedrooms have built in wardrobes?

Yes

Bathrooms

What fixtures and finishes will the bathrooms have?

Contemporary porcelain tiles on floors and walls, Kohler bathroom fixtures (TBC), Grohe taps (TBC) and rain shower, under-counter fitted storage cabinetry

What will the water heating system be?

Individual geysers

Kitchen/ Pantry

Will the kitchens be naturally ventilated?

Yes

What kitchen appliances will be provided?

Stove and hood

Will the cooking be gas or electric?

Gas

Will the cooker hood in the kitchen be ducted or recirculating?

Ducted

What is the garbage disposal system?

Garbage chute

Common Spaces

What will the common amenities at 447 Luna Tower be?

Rooftop infinity pool, rooftop garden, rooftop clubhouse, kids’ pool, garden and walking path on podium, gymnasium

How many floors of parking will there be?

7 floors including the basement

Will there be back up power generators?

Yes

What security systems will the building have?

CCTV System, electronic access control System

Where will the gym be located?

Level 7

Where will the pool be located?

Infinity pool is located on the rooftop / kids’ pool is located on level 7

Where will the clubhouse be located?

Rooftop

How many passenger lifts will there be?

3

Will there be a service elevator?

Yes

Will there be a waiting area for drivers?

Yes

Purchase and Legal information

Are apartments priced in USD or LKR?

LKR

What is the booking fee at time of reservation?

LKR 1,000,000

Which banks will give me financing to purchase an apartment at 447 Luna Tower?

Seylan Bank and HNB, are currently providing loan faclities. 5 other banks are in process of signing on.

Are there restrictions for foreigners looking to purchase apartments? Are there any additional costs with regards to this?

Any apartment of a condominium development 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.

If money is transferred into Sri Lanka, can it be taken out if the propoerty is sold? What is the process?

If the property is purchased by a Non Resident it has to be purchased through inward remittance brought into the country through a Securities investment Account (SIA). Capital + Capital Gains of property purchased through an SIA and subsequently sold are freely repatriable through the SIA to any overseas account. No Capital gain tax imposed on sale of property for foreign residents.

Who is the lawyer for 447 Luna Tower?

Anoma De Sylva

Can the title deed be viewed by a potential buyer?

The title documents can be provided to a potential buyer on request.

When will the transfer of deeds take place?

The Deed of Transfer can be executed by the Purchaser after the Condominium Plan has been duly registered, The Certificate of Conformity issued by the Local Authority, the complete Purchase Price has been paid and the Notice of Vacant Possession has been issued to the Purchaser.

Is the property freehold or leasehold to the end user?

The end user obtains freehold rights to the property upon execution of the Deed of Transfer.

What additional charges and taxes are applicable when buying an apartment? (Stamp duty, Registration, VAT etc.)?

At the time of executing the Deed of Transfer the Purchaser bears the Stamp Duty, Lawyers Fees, and registration fee at the Land Registry (this will be a very nominal sum). Subsequent to this assessment rates to the local authority need to be borne by the Purchaser.

How are the legal documents related to the Condominium (titles, licenses, planning etc.) obtained?

Copies of these documents can be provided on request. Originals can be provided on application and payment of token money.