Almost 4,000 flats available in first BTO exercise of 2015

The Housing and Development Board on Wednesday (Feb 11) launched its first Build-To-Order Exercise of the year, with 3,995 new flats in Bukit Batok, Hougang and Geylang made available.

This is the first tranche of a total of 16,900 BTO flats planned for release in 2015. HDB said that in May, it will offer about 4,040 BTO flats in Clementi, Punggol North, Sembawang and Tampines, while between 4,000 and 5,000 flats will be offered in a concurrent Sale of Balance Flats (SBF) exercise.

The 3,995 units in the February exercise consist of Studio Apartments, 2-room to 5-room flats, and Three-Generation or 3Gen flats.

“Married or courting couples who wish to live together with their parent(s) can apply for a 3Gen flat at West Rock @ Bukit Batok. This is the first time 3Gen flats are offered in Bukit Batok. Other multi-generation families who wish to live near each other in the same BTO project can apply for flats in West Edge @ Bukit Batok, MacPherson Spring, Buangkok ParkVista or Buangkok Tropica under the Multi-Generation Priority Scheme,: said the HDB in a press release.

“Applicants are strongly advised to apply for a BTO flat in non-mature towns to enjoy a higher chance of success in securing a flat.”

It added that eligible first-timer families can enjoy up to S$60,000 in housing grants, comprising the Additional CPF Housing Grant (AHG) of up to S$40,000 and the Special CPF Housing Grant (SHG), of up to S$20,000.

“With these grants, 2-room, 3-room, 4-room and 5-room flats can be purchased from S$13,000, S$108,000, S$220,000 and S$340,000, respectively,” said the HDB.

The housing agency also noted that from the February sales exercise, flat applicants who intend to take out an HDB housing loan will need to produce a valid HDB Loan Eligibility (HLE) letter at the point of booking a flat, instead of during the signing of the Agreement for Lease.

“This move to bring forward the HLE requirement seeks to help flat buyers better plan their finances and flat purchase. It will minimise any disappointment should they be unable to obtain sufficient loan to proceed with the flat purchase subsequently, resulting in cancellation of their flat application and forfeiture of the option fee paid,” it said.

Applications for a BTO flat under this exercise can be submitted at the HDB InfoWeb at from Feb 11 to 17.

Source : Channel NewsAsia – 11 Feb 2015

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