Progressive Payment Scheme

The following payment procedure will apply to someone purchasing a condominium unit under construction. Payment is done progressively as per URA guideline as shown below:
Stage Payment scheme ( % of purchase price )
Upon Booking / signing 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, internal plastering and plumbing of unit 5%
Completion of car park, roads and drains serving the housing project 5%
Temporary Occupation Permit or Certificate of Statutory Completion 25%
On completion date 15%
Other cost to take note:
  • Stamp Duties for purchase of property upon signing Sales & purchase agreement to IRAS.
  • Lawyer fee for complete of the purchase transaction to the law firm engaged. Depending on the complexity of the case, legal fees typically range between $2,500 to $6,000.
  • Maintenance Fee for the common facilities for strata-titled housing project upon Notice of Vacant Possession from developer.
  • Property Tax levied annually upon buyer receives from the developer the Notice of Vacant Possession. The Annual Value of the property is determined by IRAS. Property that is not owner occupied usually are levied higher.

*The information provides herein are for general reference purpose.  It does not constitute any financial or investment advice. Buyer to seek financial institute for advice of any sales and purchase eligibility in making any investment or other decision.