Normal Progressive Payment Scheme

The Normal Progressive Payment Scheme deals with New Launch EC Executive Condominium that are in the process of being built. It refers to payment by instalments, typically 5 – 10 percent, with each payment being made when a specific milestone is reached.

During the initial stages, payments are spaced far apart. Payments become more constant toward the second stage. For example, you would pay the developers one instalment when the foundation is built, one more when the walls are up, one more when the roof is finished, etc.

Order of PaymentProgress of Payment% of Payment
1stBooking / Option Fee

  • Upon booking and obtaining Option To Purchase (OTP)
  • By Cash
  • S&P will be delivered to buyer’s lawyer or to the buyer (if no lawyer is appointed yet), upon HDB approval.
  • Buyer needs to sign the S&P at law firm and return the S&P to the developer, within 3 weeks upon receipt of S&P.
Buyer’s Stamp Duty

  • Within 14 days upon signing S&P, by Cash or CPF OA
    • 3% – $5400

Additional Buyer’s Stamp Duty

  • Not Applicable
Down Payment Less Booking Fee

  • Within 9 weeks from the signing of Option of Purchase
  • By Cash and/or CPF
2ndUpon completion of foundation work10%
3rdUpon completion of reinforced concrete framework10%
4thUpon completion of brick walls5%
5thUpon completion of ceiling / roofing5%
6thUpon completion of doors & windows frames (are in position), the electrical wiring (without fittings) & plumbing & internal plastering5%
7thUpon completion of car park, drains and roads serving the project5%
8thUpon obtaining Temporary Occupation Permit (TOP)25%
9thUpon completion date2%
Upon production of the Certificate of Statutory Completion8%
On the expiry of 12 months from the date of notice to take vacant possession5%

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