HDB is launching Punggol Spectra under the Build-To-Order (BTO) system today, following strong interest in the recent BTO project, Punggol Residences.
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Punggol Spectra is a Standard contract offering a total of 1,142 units. The flat supply comprises 301 units of 2-room, 285 units of 3-room and 556 units of 4-room flats.
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Situated along Punggol Central, Punggol Spectra is within walking distance to Oasis LRT station. The Tampines Expressway is a short drive away, thus offering good connectivity to the rest of Singapore. The precinct offers commercial facilities such as shops, eating house and supermarket. The future Punggol Town Centre is just minutes away. Educational institutions such as Horizon Primary School and Punggol Secondary School are also located in the vicinity.
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The prices of Punggol Spectra range from $89,000 to $109,000 for the 2-room flats, $151,000 to $179,000 for the 3-room flats and $234,000 to $293,000 for the 4-room flats. These are priced below similar flats in the market and are affordable to first-time flat buyers.
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Based on the income of flat applicants in the first half of this year, it is expected that first time flat buyers will only need to use between 20% - 26% of their monthly household income to meet their housing loan commitments if they buy a flat at Punggol Spectra. This is well below the 30% international benchmark for affordable housing. Details of the project and pricing are given in
Annexes A and B.
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On top of a generous market subsidy on the selling price, eligible first-timers whose average monthly household income is $5,000 or less can also apply for an Additional CPF Housing Grant (AHG) of up to $40,000. The AHG can be used to offset the initial downpayment.
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As buying a flat is a long-term commitment, flat buyers are advised to exercise financial prudence and buy a flat that they can afford. HDB will continue to offer flats of different sizes, design types and in different locations to cater to the different needs and budgets of flat buyers.
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Including this exercise, HDB has offered about 4,800 flats under BTO and other sales exercises this year. Flat buyers can look forward to more BTO projects ahead. These projects will be located in towns such as Punggol, Sengkang, and Sembawang. More details will be provided when the projects are launched. The total BTO supply for 2009 is expected to reach 8,000 units. HDB will continue to monitor the market situation closely, to ensure that there is adequate and affordable supply of public housing.
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Applications for the BTO can be submitted online from
31 Aug 2009 (Mon) to
14 Sep 2009 (Mon). More details of the application procedures can be found at
Annex C.
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For enquiries, the public can:
· E-mail hdbsales@hdb.gov.sg;
· Call the Sales/Resale Customer Service Line at 1800-866 3066 on Mon to Fri from 8 am to 5 pm; or
· Visit the HDB Sales Office to speak with our Customer Service Officers during office hours (Mon to Fri, 8am to 5pm; Saturday 8am to 1pm).
ANNEX A
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| 2-room | 46-47 | 45 | 301 | $89,000 - $109,000 |
3-room | 69 | 67 | 285 | $151,000 - $179,000 |
4-room | 94-96 | 92-94 | 556 | $234,000 - $293,000 |
Notes:
a) Floor area refers to the estimated area of the whole apartment, inclusive of the area of the air-conditioner ledge (where applicable).
b
) Internal floor area refers to the estimated area of the apartment computed based on the centre line of the apartment wall.
c) The indicative prices do not include the cost of optional components. Actual selling prices will vary according to the attributes of the individual units at the time of selection.
e) Location Map (175KB)
The cost of the optional components (see table below) will be added to the selling price of the flat.
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Punggol Spectra(PE C30)Standard Flats | Flooring for living / dining room and bedrooms | $1,400 | $2,000 | $3,100 |
| Internal doors* | $320 | $1,360 | $1,680 |
* Bi-fold bathroom doors are provided for 2-room flats and they are non-optional.
* 2-room flats : 1 internal door (1 bedroom door)
* 3-room flats : 4 internal doors (2 bedrooms doors and 2 bathroom doors)
* 4-room flats : 5 internal doors (3 bedrooms doors and 2 bathroom doors)
Location
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Habitat Forum, BizFour, 3rd Storey, HDB Hub
Exhibition period
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31 August 2009 (Monday) to 14 September 2009 (Monday)
Opening hours
:
8 am to 5 pm (Weekdays)
8 am to 1 pm (Saturday)
Closed on Public Holidays and Sundays
ANNEX B
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4-room | $234,000 to $293,000
(92 – 94 sqm) | $310,000 to $357,000
(85 – 90 sqm) |
Notes:
The 4R resale comparables are about 7 years old and located near Punggol Spectra. Adjustments are made to account for the differences in attributes such as age, floor area etc. between the resale comparables and the subject contract to determine the equivalent market value of the new flats offered.
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2-room | $100,000 | $1,200 | $40,000 | $240 | 20% |
3-room | $165,000 | $2,000 | $35,000 | $520 | 26% |
4-room | $265,000 | $3,900 | $15,000 | $955 | 24% |
ANNEX C
Households interested in buying a flat in Punggol Spectra can submit their application online at HDB’s InfoWEB at
www.hdb.gov.sg between
31 Aug 2009 (Mon) to 14 Sep 2009 (Mon). The administrative fee of $10 is payable by cashcard or credit card (Master Card / Visa). Those without Internet access can visit HDB Hub or any of HDB’s Branch Offices to submit their application via the e-Stations or Internet PCs that are available for use.
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Each household can submit only one application and must indicate the flat type (i.e. 2-room, 3-room or 4-room) that they are applying for.
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The
monthly household income ceiling for the purchase of the 2-room, 3-room and 4-room flats are $2,000, $3,000 and $8,000 respectively. Applicants must also satisfy the other eligibility conditions such as citizenship, family nucleus and non-ownership of private property.
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AHG was first introduced in Mar 2006 to provide extra help for the lower income to become homeowners. The latest review for AHG in Feb 2009 allows for eligible first-timers who are buying a new or resale flat (2-room and bigger flat) and whose average monthly household income is $5,000 and less in the 12 months preceding application to qualify for AHG amount of up to $40,000.
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Applicants who meet the conditions of the Third Child Priority Scheme (TCPS), Married Child Priority Scheme (MCPS) or Tenants’ Priority Scheme (TPS) (for 2-room and 3-room flat applicants only) may request for priority allocation under these schemes. Applications under the Resettlement/Relocation (REN/RH) and Grassroots Organisation (GRO) Schemes will require recommendations from the appropriate authorities managing the schemes.
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Upon the close of the application period, HDB will assess the subscription rate before inviting applicants for the selection of new flats. Applicants’ queue position to book a flat will be determined by computer ballot. Applicants will be informed of their queue position
by October 2009.
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The selection exercise will commence
from November 2009. An option fee of $500, $1,000 or $2,000 is payable upon selection of a 2-room, 3-room or 4-room flat. This fee may be paid by cash/cheque/NETS.
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Selection of flats by the applicants with queue numbers exceeding the flat supply would be subject to availability of flat supply and ethnic quota when their turns are due. They can check the availability of flats on the HDB InfoWeb or via teletext before turning up at the HDB Sales Office on the appointed date for the selection.
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With effect from May 2008 BTO exercise, First-timer applicants who reject two chances to select a flat in BTO/BE exercises will have their First-timer priorities removed for a one year period in any HDB’s sales exercise.
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After completion of the selection exercise, HDB will assess the take-up rate of the development before deciding whether to proceed to call the building tender for the development.
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Once it is confirmed that the development has met the desired take-up rate and proceed to call tender for the construction of the new flats and, HDB will arrange for the applicants to sign the Agreement for Lease within four months from the date of selection of the flats.
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Applicants must pay 10% of the selling price of the flat as downpayment at the time of signing the Agreement for Lease, by CPF and/or cash. First-timer applicants, i.e. married couples as well as those applying under the Fiancé/Fiancée Scheme, can pay the 10% downpayment in two instalments under the Staggered Downpayment Scheme (SDS) if
at least one of the partners is aged 30 years or younger. The first 5% will be collected when the applicant signs the Agreement for Lease and the balance 5% when the buyer takes possession of his new flat.
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Applicants who intend to take an HDB loan must obtain an HDB Loan Eligibility letter before they exercise the Option To Purchase for the HDB flat by signing the Agreement for Lease. For the applicants who are taking a bank loan, they will have to pay 5% cash payment to HDB. They will also have to obtain a Letter of Offer from the bank before they can exercise the Option To Purchase for the HDB flat.
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Applicants who do not sign the Agreement for Lease or reject the flat after selection will have their applications cancelled and the option fee forfeited. If the applicant rejects the flat after signing the Agreement for Lease, the forfeiture will be 5% of the selling price of the flat.
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