No Resale Levy For Executive Condominium (ec)

By Author: David Tan
Total Articles: 435
Comment this article

No Resale Levy for Executive Condominium (EC)

What Is Resale Levy?

Resale levy supports equilibrium of subsidies for those who are first time consumer of HBD public housing properties as opposed to those second time purchasers by lowered tender of the subsidy. You have to compensate No Resale Levy for Executive Condominium (EC) on your of your subsequent home when you have already acquired a new Executive Condominium (EC), accepted a CPF Housing subsidy for resale flat or when you have invested brand-new HBD Flat primary through HBD (DBSS, BTO etc.).

When is Resale Levy Payable?

Resale levy is payable when you:

* Acquire your first flat direct from HBD or if you are able to obtain a grant from CPF Housing, then traded it after obtaining the Minimum Occupation Period (MOP)
* Acquire another flat from HBD that is already subsidized.
* Purchase an Executive Condominium straight from the developer where its land sale falls on or after 9 December 2013.

When is Resale ...
... Levy NOT Payable?

Resale Levey is not payable when you:

* Purchase a private property
* Avail an HBD resale flat
* Obtain DBSS flat direct from developer
* Buy an Executive Condominium which land sale was set up before 9 December 2013.