THE government is increasing development charge (DC) rates, payable for enhancing the use of some sites or to build bigger projects on them, for commercial, non-landed residential and hotel/hospital uses. However, DC rates remain unchanged for landed residential, industrial, place of worship/civic and community institution, and other use groups. The latest DC rates are for the period of Sept 1, 2016,...
Development Charge
Development charge rates have been revised downwards following the regular half-yearly review by the Ministry of National Development. A development charge is levied on projects that increase the value of the land they sit on. This could involve rezoning of a site to allow higher value use, or when the plot ratio is increased to allow the building of a larger project. The industrial segment saw the...
Development charge (DC) rates for industrial properties will be reduced in most areas while rates for office, retail and residential will remain unchanged in the next six months. The Ministry of National Development said in a statement on Monday (Aug 31) that DC rates for industrial properties will be lowered by between 3 per cent and 4 per cent for 87 out of 118 sectors. This will be for the six months...
The commercial property sector has been hit by the largest hikes in development charges (DC) — taxes payable on the enhancement in land value — in the latest half-yearly review, with the increases spread across many parts of Singapore, the Ministry of National Development said yesterday. Commercial DC rates for March to August this year have been revised upwards by an average of 15 per cent in 89...
The government has revised the development charge (DC) rates for the next six months, with increases seen in the DC rates for industrial and residential land sites. In a statement issued on Friday, the Ministry of National Development (MND) said the DC rates for other land use groups remain unchanged. A development charge is a levy that is payable by the developer when a property site is developed...
The government has revised the development charge (DC) rates, with the steepest increase in the commercial and industrial segments. A development charge is a levy that is payable by the developer when a property site is developed into more valuable project. In a statement, the National Development Ministry said DC rates for commercial segment will increase by an average of 24 per cent. Areas seeing the...
The government has lowered the development charge (DC) for non-landed residential sites by three per cent on average. This compared to the 12.2 per cent increase during the last revision exercise six months ago. The most significant decreases are in the Punggol Town/Upper Serangoon Road area, and the Hougang/Paya Lebar Road/Toa Payoh/Bishan areas, which will see rates fall by 14 per cent. Analysts say...
Developers will have to work in higher costs for new projects, as the development charge (DC) rates for both non-landed and landed residential homes have been increased. They have gone up by an average of 13 per cent. This is largely within market expectations, given the broad-based recovery in the property sector. But the announcement comes one day after the government announced new measures to cool...
The government has increased the development charge rate for both non-landed and landed residential homes. Analysts said this is in line with the strong rebound in home sales and prices over the last six months. The rise in non-landed residential DC rates, in particular, is expected to add on to developers' land banking cost. Private homes were hot property in 2009. Some 6,300 units have been sold in the...
The government has lowered the redevelopment tax on non-landed residential property by 15 per cent on average – a more drastic cut than the 6 per cent it made half a year ago. The biggest reductions affect higher-end properties in prime locations, including Marina Bay, Robertson Quay, River Valley, Orchard Road, Grange/Tanglin, Newton and Holland Road areas. Some market watchers had been hoping for...