HDB launches 2 new BTO projects in Choa Chu Kang, Punggol

The Housing and Development Board (HDB) launched two new housing projects in Choa Chu Kang and Punggol on Tuesday in its last sales exercise of the year.

It will offer a total of 1,181 flats, from studio apartments to 5-room units, under the Build-To-Order (BTO) system – where flats will be built only after most of the units in a specific site have been booked. This brings the total number of flats launched for 2008 to 7,793.

The first project is called Sunshine Court, where 164 studio apartments, 117 3-room flats and 171 4-room flats will be built and sold at between S$58,000 and S$236,000.

Located along Choa Chu Kang Avenue 3, the estate will be situated opposite a neighbourhood centre, which has amenities such as a supermarket and food court.

This is the first time that studio apartments are being offered in Choa Chu Kang and they will be fitted with elderly friendly features like grab bars and non-slip flooring.

The second project, Punggol Regalia, which will be located near the future Punggol Town Centre, offers premium flats with better finishes. There will be 546 4-room and 183 5-room flats, costing between S$252,000 and S$428,000.

In light of the recent debate on new HDB flat prices, the Board said the units are priced affordably, with average households forking out about 20 per cent of their monthly income to service their mortgage, which can be fully paid using CPF funds.

For example, a family with a household income of S$2,200 will end up paying a monthly mortgage of about S$460, after factoring in the Additional CPF Housing Grant (AHG) of S$20,000, for a typical 3-room unit at Sunshine Court that is priced at S$135,000.

Applications for the new flats can be submitted online from December 30 to January 12 at www.hdb.gov.sg.

Source : Channel NewsAsia – 30 Dec 2008

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