FAQs

Silk Road Architecture

Silk Road is a cutting-edge property development company that offers a comprehensive range of services including Development Management, Architecture, Quantity Surveying, Project Management and Construction. With their architectural services, they offer creative and innovative design solutions tailored to individual preferences and requirements. Their team of talented architects bring ideas to life, ensuring that every detail is considered and every aspect of functionality and aesthetics is meticulously crafted.

https://silkroad.co.za/

W3O

Focusing on the commercial construction sector, W3O have completed numerous projects for large corporates. Their offering is all-encompassing, ranging from a pure main contractor delivery right through to design and build.

https://www.w3o.co.za/

Strauss Daly Attorneys

Since opening its doors in 1984 Strauss Daly has grown, evolved and modernised to become one of the most prominent and progressive legal firms in South Africa. With a reputation for delivering excellence, their firm boasts strong representation countrywide, while currently expanding into the rest of Africa. 

https://www.straussdaly.co.za/

Ooba Home Loans

At Ooba, an expert will guide you through the bond process or you can do it yourself if you prefer. Ooba gets all the major banks to give you their best rates. Ooba gives you the best chance of getting your home loan approved.

https://www.ooba.co.za/

The estimated start date for the development is 10 January 2025 and the estimated completion date is 10 May 2026.

5 storeys comprising 10 apartments.

First to third floor: 1 beds, 2 beds, and large terraced 2 beds with gardens.

Fourth floor: two double-storey 3-bed penthouses, each with a terrace and private pool.

• Ocean views
• Nature reserve views
• Nature reserve gardens to specific units
• Floor-to-ceiling height of 3.1m
• Oggie flooring
• Air-conditioning
• Gas stove
• Integrated appliances to specific units

• Secure parking
• 24-7 security with off-site monitoring
• Backup power with inverter systems as an optional extra to each unit
• High-speed Wi-Fi for each unit

• Prepaid electricity meter
• Smart water meter

24-7 security with off-site monitoring.

Penthouses and 2-bedroom apartments will have 2 parking bays included in the purchase price.

One-bedroom apartments will have 1 parking bay included in the purchase price.

• Back up power with inverter systems
• Furniture packs

No

Air-conditioning is included in each unit.

Furniture packs are available as an optional extra.

Backup power with inverters included as an optional extra.

Energy-saving LED lights.

High-speed Fibre connectivity ensures residents have super-fast internet in their apartments. This will be for the owner/residents account and the appointed ISP will need to be contacted to open/activate individual accounts.

There is lift access in the building.

Pets are allowed

Yes

Yes

Yes

Yes

All reservations will happen online via the interactive price list.

The below list outlines the steps you’ll need to be familiar with in order to secure the unit you want to purchase.

1. Register and log in to sales.theravello.co.za.
2. Click the GREEN RESERVE button on your selected unit to start the process.
3. Complete the form and accept the terms: Click CONTINUE
4. Your reservation will now move to the pending state where you will have 10 minutes to finalise the reservation.
5. You will then pay your R10,000 reservation fee via the following methods:
• Visa or Mastercard
• Masterpass
• Snapscan
6. Once the R10,000 fee is concluded, your unit will be reserved!
7. You will then receive an email from our team confirming your reservation.

Next steps:

• The Agreement of Sale will be sent to you via email, this will need to be signed and returned to us within 48 hours from receiving it.
• A unit is deemed reserved once the reservation fee has been paid.
• The reservation fee will be deducted from the full purchase price deposit.
• There are two deposit options:
  • Option 1:
    A 10% deposit within 7 days and a bond approval in terms of Clause 4 of the Sale Agreement.
  • Option 2:
    A 30% deposit within 7 days with no bond in place.

Yes, the deal is subject to your bond being approved and should it not be approved the deposit is paid back to you with interest. If you are unsure if you can afford the bond it is a good idea to get pre-qualified prior to the launch as the R10,000 reservation fee is not refundable.

Bond repayments will only commence after the development has been completed and once the transfer of the apartment you have purchased, has taken place.

Bond costs are payable at the time that the bond registers, once the development is complete.

There is no transfer duty payable but there are transfer fees (attorney costs).

The seller is registered for VAT so there will be no transfer duty but only transfer costs payable.

On a purchase price of R3,5 million, the transfer costs will be R 58 220.00*

*Please note these are subject to change

Levies are determined in terms of sectional title and exclusive use area of the apartments, parking. Levies are calculated at a standard rate to be determined.

They cover the costs of security, cleaning & upkeep of the common areas, maintenance of the building, building insurance and all running costs, management costs and insurance of the building.

Monthly rates are based on the value of the property and are calculated based on the value of the property and then multiplied by 0.006631 to get your yearly rates. Divide this by 12 to get your monthly rates. 

Example:

R3,895 million property

(R3,895,000 – R450,000) x 0.006631 = R22,844 per annum

This equates to R1,904 per month

No hidden costs. VAT inclusive, no transfer duty. Rates, taxes and CID will apply.

The contract price is the price the client will pay for the property. You must be aware that there is occupational interest due from the date you take occupation until you take ownership (transfer takes place).

The other costs applicable are detailed above and include monthly rates and levies. Bond costs will be payable prior to registration of your bond once you take transfer of your unit. Transfer costs at this point will also be applicable but these costs are largely offset by the interest that you earn on your deposit during the construction period.

After the completion of the development, the transfer process will commence. Occupation will be given as soon as an occupation certificate is granted. You will be able to occupy or rent out your apartment from the date of occupation.

1. Cape Town sees an average annual capital growth of 7%, so your property value is growing at roughly 7% pa but you are only required to put down 10% of the development value.
2. This means you are getting growth on the full purchase price of the property and only have to put down a fraction of the price.
3. Your tenant is largely paying off your investment property & bond for you.
4. Your rental income increases every year but bond repayments generally stay the same and in relation to yearly salary and incomes inflating, the bond repayments become relatively cheaper every year.
5. There is high demand for secure luxury property in Cape Town’s City Centre and Atlantic Seaboard, resulting in a secure long-term investment.
6. The longer it takes to enter the property market the harder it becomes.
7. Property investment is likely to create long-term sustainable wealth and an ever-increasing annuity income.

• The taxpayer must own at least 5 residential units. The deal kicks in once the buyer takes ownership of their 5th new unit. A residential unit refers to a building or self-contained apartment, mainly used for residential accommodation with the exclusion of structures used for business purposes, for example, hotels.
• All units must be situated in South Africa.
• Residential units must have been purchased new and unused. (For example, buyers of flats that had previously been occupied would not qualify for this incentive.)
• The units must be used solely for the purpose of trade (i.e. residential letting). This prevents housing claims for personal use.
• Please consult your tax advisor for further clarification and information.