The Ministry of National Development (MND) has announced that development charge rates will be revised from the current 50 per cent of the appreciation in land value to 70 per cent. The revised rates take effect immediately and apply to development applications where provisional permission is issued on or after 18 July. For land with title restrictions on the use and intensity, which are subjected to a levy of differential premium by the Singapore Land Authority, the differential premium will be similarly adjusted to the 70 per cent rate based on the published table of development charge rates.
Comments:
This essentially increases developers' cost of paying DC by 40%!!! Is this a one off measure? Or is this going to be one of the many policies that the government is going to implement to cool the current buoyant property market. Are we going to witness a fall in the number of enbloc /collective sales? I hope not! :-)
See
1 comment:
Are you in need of a loan? Do you want to pay off your bills? Do you want to be financially stable? All you have to do is to contact us for more information on how to get started and get the loan you desire. This offer is open to all that will be able to repay back in due time. Note-that repayment time frame is negotiable and at interest rate of 3% just email us (creditloan11@gmail.com)
Post a Comment