Friday, August 3, 2012

HDB launches 4,191 BTO flats in 7 projects

Business Times: Wed, Aug 01

THE Housing & Development Board (HDB) has launched seven built-to-order (BTO) projects, which will offer 4,191 new flats in a mix of non-mature and mature towns.

The flats, part of the fourth BTO launch this year, will be offered in two non-mature towns (Choa Chu Kang and Punggol), and three mature towns (Bukit Merah, Clementi, and Geylang).

HDB also announced an enhancement to the Special CPF Housing Grant (SHG), which will allow first-time households earning $1,500 and below to purchase three-room standard flats in non-mature estates.

Under the enhanced scheme, an SHG of $20,000 will be extended to first-timer households earning $1,500 and below. This is aimed at expanding the housing options available to low-income households who need more space, HDB said.

Previously, those earning less than $1,500 can qualify for the grant only if they buy a two-room standard flat in the non-mature estates from HDB.

Together with the Additional CPF Housing Grant (AHG), households earning $1,500 and below are entitled to total housing grants of $60,000 for the purchase of two-room or three-room standard flats in non-mature estates from HDB.

The enhanced grant will take effect from the July BTO launch.

Under the upcoming BTO launch, projects in the non-mature estates comprise Keat Hong Axis (located along Choa Chu Kang Ave 1), Punggol Opal and Waterway Cascadia (along Punggol Way).

Those in the mature towns are Clementi Gateway, Depot Heights, Telok Blangah Ridgeview and GreenTops @ Sims Place.

A four-room flat at Punggol Opal and Waterway Cascadia will cost from $289,000 without grants and from $274,000 with grants.

A similar flat at Depot Heights and Telok Blangah Ridgeview will sell from $430,000 excluding grants, and from $415,000 with grants.

To ensure first-timers continue to enjoy priority in flat allocation, at least 95 per cent of the BTO flat supply (excluding Studio Apartments) in mature towns and 85 per cent in the non-mature towns will be set aside.

Separately, HDB will be offering 3,700 new BTO flats for sale in Ang Mo Kio, Choa Chu Kang, Kallang Whampoa, Tampines and Woodlands in September.

In addition, 3,000 flats will be offered in a Sale of Balance Flats (SBF) exercise, which will be held concurrently. It will comprise flats from both mature and non-mature estates.

HDB said it remains on track to launch 25,000 flats this year.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G) | | | |

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