The Ministry of National Development (MND) has raised the development charges (DC) for new building projects in Singapore, effective from September 1.
The new rates will apply to cases which are granted Provisional Permission (PP) or second and subsequent extension to the PP on or after the effective date, the ministry said in its half-yearly review on Wednesday.
The DC rates for commercial projects have been increased by an average of 22 per cent, with the largest 32 per cent rise in the Paya Lebar/Eunos/Macpherson area, MND said in a statement.
For residential landed properties, the DC rates will go up by an average 17 per cent, while those for residential non-landed areas have been raised by an average 12 per cent.
The DC rates for hotel and hospital buildings have been increased by an average 7 per cent, while those for industrial and warehousing use will go up by 31 per cent on average.
The largest increase of 55 per cent will hit the industrial and warehousing use sector in the Tuas/Jurong/Sungei Kadut/Mandai/Woodlands area and the Sembawang/Yishun area.
For other use groups, such as places of worship, educational uses, nature reserve and agriculture uses, the DC rates will be unchanged, MND said.
The ministry said developers and owners can opt for a case-by-case valuation by the Chief Valuer if there is any disagreement over the DC payable for any development proposal.
Source : Channel NewsAsia – 31 Aug 2011