HDB is launching
The Nautilus @ Punggol (91KB) under the Build-To-Order (BTO) System today.
2
The Nautilus @ Punggol is a Standard contract offering a total of 519 flats. The flat supply comprises 413 units of 4-room flats and 106 units of 5-room flats.
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Situated at the junction of
Punggol East and Punggol Field (322KB), The Nautilus @ Punggol is conveniently served by two LRT stations, the Riviera and Coral Edge. Located next to the precinct is Punggol Plaza, where a mix of a supermarket, food court and other commercial shops cater to the daily needs of residents. Various educational institutions such as Mee Toh School, Greendale Primary School and Greendale Secondary School are also located nearby. Tampines Expressway is just a short drive away.
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The prices of flats at The Nautilus @ Punggol range from $228,000 to $274,000 for 4-room flats, and from $305,000 to $357,000 for 5-room flats. These prices are below those of similar flats in the market so that they are affordable to first-time flat buyers. Pricing details and resale comparables are in Table 1 of Annex 1.
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The price ranges for The Nautilus @ Punggol are lower compared to recent BTO launches in Punggol, i.e. Punggol Arcadia and Punggol Regalia, mainly because of the differences in design and other flat attributes. Punggol Arcadia and Punggol Regalia are Premium projects with enhanced architectural designs and better internal finishes, while The Nautilus @ Punggol is a Standard project with more basic features. Size of the flats and location also contributed to the lower prices of The Nautilus @ Punggol. The 4-room flats in The Nautilus @ Punggol are 4 m² to 5 m² smaller than those in Punggol Arcadia. In addition, The Nautilus @ Punggol is further from the Town Centre and main transportation nodes compared with the Punggol Arcadia and Punggol Regalia.
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Besides enjoying a generous market subsidy on the selling price, eligible first-timers whose average monthly household income is $5,000 or less can also qualify 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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Based on the income of flat applicants in 4Q2008, an applicant for The Nautilus @ Punggol whose income is at the median level will not need to fork out cash to meet their monthly housing commitments. For example, a family with a total household income of $4,300 buying a 4-room unit priced at $250,000 will need to pay a monthly mortgage instalment of about $901. This can be fully paid using their monthly CPF contributions.
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Further details on the affordability of flats can be found in Table 2 of Annex 1. HDB will continue to offer flats of different flat sizes, design types and in different locations to cater to the different needs and budgets of flat buyers.
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Applications for the new flats can be submitted online from 26 Mar 2009 (Thurs) to 8 Apr 2009 (Wed). More information on the development and details of the application procedures can be found at Annexes 2 and 3.
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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 1
Table 1: Prices of The Nautilus @ Punggol and Resale Comparables in Punggol
|
4-room | $228,000 to $274,000
(90 m²) | $306,000 to $350,000
(85 m² - 90 m²) |
5-room | $305,000 to $357,000
(110 sqm) | $368,000 to $428,888
(110 - 112 sqm) |
Notes:
a) The 4R and 5R resale comparables are about 7 years old and located near The Nautilus @ Punggol.
b) To determine the equivalent market value of the new flats in subject contract, adjustments are made to account for the differences in attributes between resale comparables and subject contract.
Table 2: Affordability of Typical flat in The Nautilus @ Punggol
|
4R | $250,000 | $4,300 | $10,000 | $901 | 21% |
5R | $330,000 | $5,700 | $0 | $1,189 | 21% |
Notes:
a) Monthly Instalment for 30-year loan is based on 90% of Selling Price at interest rate of 2.6% p.a. on monthly rest.
b) The Additional Housing Grant, if eligible, is assumed to first offset the downpayment before loan of up to 90% is granted.
c) Applicants’ Median Household Income is based on that of short-listed 1st-timer applicants of BTO contracts in 4Q08 for Non–mature Estates.
ANNEX 2
|
The Nautilus @ Punggol
(Punggol East C24A)
Standard Flats | 4-room | 92 - 93 | 90 | 413 | $228,000 - $274,000 |
5-room | 112 - 113 | 110 | 106 | $305,000 - $357,000 |
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.
The cost of the optional components (see table below) will be added to the selling price of the flat.
|
|
The Nautilus @ Punggol
(Punggol East C24A)
Standard Flats | Internal doors* | $1,800 | $1,800 |
Flooring for living / dinning room and bedrooms | $3,000 | $3,700 |
*4-room & 5-room flats : 5 internal doors (3 bedrooms doors and 2 bathroom doors)
| Location: | Habitat Forum, BizFour, 3rd Storey, HDB Hub |
| Exhibition period: | 26 Mar 2009 (Thurs) to 8 Apr 2009 (Wed) |
| Opening hours: | 8 am to 5 pm (Weekdays)
8 am to 1 pm (Saturday)
Closed on Public Holidays and Sundays |
ANNEX 3
Households interested in buying a flat in buying a flat in The Nautilus @ Punggol can submit their application online at HDB’s InfoWEB at
www.hdb.gov.sg between
26 Mar 2009 (Thurs) and 8 Apr 2009 (Wed). 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. 4-room or 5-room) that they are applying for.
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The monthly household income ceiling for the purchase of the 4-room and 5-room Standard flats is $8,000. Applicants must also satisfy the other eligibility conditions such as citizenship, family nucleus and non-ownership of private property. Eligible first-timers who are buying a 2-room and bigger flat and whose average monthly household income is $5,000 and less in the 12 months preceding application can also qualify for an Additional CPF Housing Grant (AHG) 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) can request for priority allocation under these schemes. Applications under the Resettlement/Relocation (REN/RH) and Grassroots Organisation (GRO) Schemes 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 flats. Applicants’ queue position to book a flat will be determined by computer ballot. Applicants will be informed of their queue position
by May 2009.
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The selection exercise will commence
from Jun 2009. An option fee of $2,000 is payable upon selection of a 4-room or 5-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 or 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 2 chances to select a flat in BTO/BE exercises will have their First-timer priorities removed for a 1-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 developments.
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Once it is confirmed that the development has met the desired take-up rate and proceeds for tender, HDB will arrange for the applicants to sign the Agreement for Lease within 4 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 2 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.