Progressive Payment Scheme
Also known as Progressive Payment Scheme, allows you to service your loan via monthly instalments progressively stage by stage as the property is being built.
Stage | Payment Under a Standard Payment Scheme |
| Upon the grant of Option to Purchase | 5% (Booking Fee) |
| Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date | 20% less Booking Fee |
| Completion of foundation work | 10% |
| Completion of reinforced concrete framework of unit | 10% |
| Completion of partition walls of unit | 5% |
| Completion of roofing/ceiling of unit | 5% |
| Completion of door sub-frames/ door frames, window frames, electrical wiring, <br> internal plastering and plumbing of unit | 5% |
| Completion of car park, roads and drains serving the housing project | 5% |
| Notice of Vacant Possession (TOP) | 25% |
| On Completion date | 15% |
References:
1. HOUSING DEVELOPERS (CONTROL AND LICENSING) ACT (CHAPTER 130, SECTION 22)
(Form 4 for landed housing; Form 5 for condominium/ executive condominium)
https://sso.agc.gov.sg/SL/HDCLA1965-R1?DocDate=20171101#pr12-
contact
HO WEI QUAN
SENIOR MARKETING DIRECTOR
CEA LICENSE: R060379E
SENIOR MARKETING DIRECTOR
CEA LICENSE: R060379E
Let's grab a coffee and jump on conversation chat with me.
