For uncompleted projects, the developer generally collects payments from the buyer in accordance with the payment schedule specified in the Sales & Purchase Agreement.
This applies to private residential, executive condominium, as well as DBSS (Design Build & Sell Scheme).
The general guideline of the payment schedule is as follows:
Option to Purchase granted 5%
Upon signing of Sales & Purchase Agreement 15%
Upon completion of:
– Foundation Work 10%
– Reinforced concrete framework 10%
– Brick walls of unit 5%
– Ceiling of unit 5%
– Electrical wiring, internal plastering, 5%
plumbing & installation of door and
– Car parks, roads and drains serving the 5%
– T.O.P (when developer is ready to hand 25%
over vacant possession of the unit)
– On Certificate of Statutory Completion 15%
Other Payments stipulated in Sales & Purchases Agreement
Besides the purchase price, home buyers must be made aware of other payments as stipulated in the Sale & Purchase Agreement.
Got a question on your Home Purchase?
Just complete the contact form or call Poh Lin at 96700937