Pasir Ris One - Launching April 2012
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Pasir
Ris Central / Pasir Ris Drive 1 (Launching Apr 2012)
Located within Pasir Ris Town, this site is served by the Pasir
Ris MRT station and the Pasir Ris Bus Interchange. The Tampines
Expressway (TPE) is also in close proximity to the site, serving
as a fast conduit for residents who drive. There are also a wide
variety of shopping and recreational spaces in the vicinity such
as the White Sands Shopping Centre, Elias Mall, Pasir Ris West
Plaza and the Pasir Ris park, which is an excellent place for
family outings. Established schools such as Hai Sing Catholic,
Meridian Junior College and Tampines Junior College are also
within easy reach.
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| Developer : |
Singxpress Land (Pasir Ris) Pte Ltd and Kay Lim
Holdings Pte Ltd |
| Location : |
Pasir Ris Central / Pasir Ris Drive 1 |
| Site Area : |
Approx. : 16338.2 sqm / 175,864 sqft |
| Estimated TOP : |
31 May 2015 |
| Description |
Proposed housing development comprising 4 Blocks of 13 / 14 storey residential flats with precinct pavilion and multi storey carpark facilities |
| Number of units : |
447 units
( 103 3-Room / 237 4-Room / 107 5-Room ) |
| Unit types : |
3 Room – 65 sqm
4 Room – 86 sqm
5 Room – 105 sqm
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| Tenure of Land : |
99 years |
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Frequently Asked Questions (FAQ)
Q1) What is Design, Build
& Sell Scheme (DBSS) Flats?
A1) • DBSS flats are public housing flats developed by Private
Developer. The successful developer will undertake the entire
development from planning, design, and construction, to the sale
of the flats directly to eligible buyers.
• Flats under DBSS will be offered to buyers under similar HDB
eligibility conditions like flats developed by HDB.
• Upon completion of the building, the developer will hand over
the entire development site to HDB for lease administration, and
to the Town Council for maintenance of the common areas and car
parks.
Design, Build & Sell Scheme (DBSS) Flats
• Developers have flexibility to design as long as it does not
compromise the objectives, fundamentals and characteristics of
public housing.
• The design will have to maintain open access to common
properties. There will be no fencing and no facilities such as
swimming pool, gymnasium and tennis courts.
Pricing and Payment
• DBSS flats will have market pricing and payment will be based on
progress payment model.
Lease
• DBSS flats will come with 99 years lease.
Minimum Occupation Period (MOP)
• DBSS flat buyers must occupy the flat for 5 years before they
can sell it in the open market.
• They can submit an application to buy another flat direct from
HDB or a new DBSS flat after 5 years from taking possession of the
flat.
Eligibility
• Eligibility Conditions are similar to applying for new HDB
flats.
New Update
• Household incomes have increased from $8,000 per month to
$10,000 per month to buy new DBSS flats.
• $30,000 or $40,000 CPF Housing Grant is applicable.
1st Timers or Eligible Buyers:
- S$30,000 CPF Housing Grant
- S$40,000 CPF Housing Grant (If staying with or within 2km from
their parents existing flat)
Resale Levy
• 2nd Timer buyers do not need to pay resale levy.
Priority Schemes
HDB Priority Schemes applies.
- Grassroots Organisation Scheme (GRO)
- Priority Scheme:
(1) Married Child Priority (MCP) This scheme encourages married
children and parents to reside within the same estate or
neighbouring estate to foster care of the aged parents.
Eligibility Conditions: • You are applying for flats located in
the same estates as your parents or married child, who are
lessees, tenants or occupiers of a rental or homeownership HDB
flat; or • Your parents' or married child's existing housing
block is within 2 km from the nearest block offered in the estate
applied for; or • Your parents' or married child's private
property is within 2 km from the nearest block offered in the
estate applied for. Your parents or married child must own and
occupy the private property; or • You are including your parents
or married child in the application to stay together with them.
If you book an apartment under this priority scheme, your parents
or married child will be required to maintain the residence in
the same flat or same estate for a period of 5 years from the
date of taking possession of the new DBSS flat. They are not
allowed to move to another HDB flat outside the existing town
within the 5-year occupation period.
- (2) Third Child Priority Scheme (TCP) The TCP scheme
encourages families to have more than two children. To qualify
for the TCP Scheme, you must meet the following requirements: •
Your family must have at least 3 children (natural offsprings
from the lawful marriage); and • Your third child must be a
Singapore Citizen born on or after 1 Jan 1987, and your other
children must be Singapore Citizens or Singapore Permanent
Residents; and • You must be a Singapore Citizen and your spouse
must be either a Singapore Citizen or Singapore Permanent
Resident.
Ethnic Integration Policy (EIP)
EIP applies.
Financing
Purchase of DBSS flats can be financed through HDB Concessionary
Loans (if eligible) or Bank Loan. You may wish to visit HDB
website to find out more details.
Q2) What are the
differences between BTO (Build-to-Order), DBSS (Design, Build
and Sell Scheme) and EC (Executive
Condo)?
A2) BTO are flats sold directly by HDB, they are usually priced
below market value. DBSS are flats develop by private developer
and the design will be similar to condo but without the
facilities. DBSS flats are usually priced above resale HDB flats
around the same area. EC are similar to private condos but
subjected to HDB rulings, EC are usually priced below private
condos and above resale HDB flats around the same area.
Q3) My wife and myself
are Singapore Permanent Resident, can we buy a DBSS?
A3) No, you need to form a family nucleus of at least one
Singapore Citizen (SC) and another Singapore Permanent Resident
(SPR). In other words, the family nucleus need to be at least
SC+SC or SC+SPR. Read more about Promoting Citizenship in HDB Households.
Q4) Can I use HDB loan
for DBSS?
A4) Yes, you can use hdb loan for DBSS if your monthly household
income is below $8000.
Q5) My household
monthly income is $9,000, can I buy DBSS?
A5) Yes, you can buy DBSS that are launched after 31 Aug 2010
(eg Adora Green, Belvia, Trivelis, Lake Vista @ Yuan Ching, Parkland Residences) as your household monthly income is below
$10,000. However, you can only use bank loan for the financing
of your DBSS.
Q6) My household
monthly income is $10,200, which is slightly above the income
ceiling of $10,000, can I apply?
A6) No, as you have already exceeded the income ceiling of
$10,000.
Q7) This is my first
time applying for a flat and my income is below $8,000. I can
wait for 2 to 3 years for my flat to be completed, should I be
applying for BTO or DBSS?
A7) There is no quick answer for this and I can only provide
pointers to help you to make the decision. Please measure the
different pros and cons before making the decision. Your first
home is an important long-term commitment; if you are unable to
make a decision after weighing the pros and cons, do speak to
your relatives, friends and real estate agents.
Usually, the 2 key considering factors are price and location.
Price is fixed and you can't change, thus you only need to work
out your budget (cash and CPF) and find a home within this
range. Location may be a more difficult decision to make.
Usually, the preferred location is near MRT station. Singapore
is well-connected by the MRT lines, thus staying near MRT
station would means that you can travel easily within Singapore.
Of course, any home that is near MRT station will be higher
priced than those that is not near MRT station. A lot of buyers
may stretch their budget just to get a home that is near MRT
station. Other preferred locations are staying near parents or
workplace.
Pricewise, BTO is most attractively priced compared to both DBSS
and EC. If there is a BTO, which is conveniently located for
yourself, this should be your first choice. Usually BTO with
good location tends to be oversubscribed (many buyer bidding for
1 single unit), and thus you may not be selected even after
several attempts. If location is not a key consideration factor,
you should then consider the less popular BTO.
However, if you have been trying many times for BTO but still
fail to secure a unit yet, you may want to consider a DBSS
(Adora Green, Belvia, Trivelis, Lake Vista @ Yuan Ching, Parkland Residences) or Executive
Condo.
Q8:
Can I use my CPF monies to pay the full 20% downpayment for the
purchase of Design, Build and Sell Scheme (DBSS) flats when
signing the Sale and Purchase Agreement with the Developer?
A8: For purchase of DBSS flats, buyers are required to pay an
option fee equivalent to 5% of the purchase price in
cheque/cashiers order when they sign the Option to Purchase
(OTP) with the developer. However, upon signing the Sale and
Purchase Agreement with the developer and paying the balance 15%
downpayment, the option fee for DBSS flats can be reimbursed
with CPF monies if buyers have sufficient monies in their CPF
Ordinary Account. This arrangement is only applicable for those
buyers taking an HDB loan or those who are not taking a loan.
Q9: What about buyers
who are taking a bank loan, can they use their CPF monies for
the full 20% downpayment under the Design, Build & Sell Scheme
(DBSS)?
A9: Buyers who are taking a bank loan to finance their property
purchase would have to make cash downpayment of at least 5% of
the VL. If buyers have an existing housing loan with either HDB
or any financial institution regulated by the Monetary Authority
of Singapore (MAS) at the time of property purchase, buyers
would have to make a higher cash downpayment of at least 10% of
the VL. The balance of the downpayment, after the buyers have
made the required cash payment, can be paid using CPF monies.
Q10: If I qualify for
HDB concessionary loan, how much CPF can I use to purchase a
Design, Build and Sell Scheme (DBSS) flat?
A10: You can use your Ordinary Account savings and future
monthly CPF contributions in this account to buy a DBSS flat
and/or to pay the monthly installments of the HDB loan up to the
Valuation Limit (VL). If your housing loan is still outstanding
when your total CPF usage has reached the VL, you may withdraw
further CPF savings if you can set aside the prevailing Minimum
Sum cash component (for members below 55 years old), or the
Minimum Sum cash shortfall (for members 55 years old and above).
Q11: Can I use my CPF
to purchase a Design, Build and Sell Scheme (DBSS) flat?
A11: Yes. You may use your CPF savings to buy a DBSS flat.
However, the cash difference between the purchase price of the
flat and your CPF savings and your housing loan has to be paid
first before your CPF savings can be released. If you are using
your CPF savings for progressive payments, you can reserve your
CPF savings for future progressive payments, when you first
submit the application to use CPF for DBSS flats.
Q12: If I am taking a
bank loan, how much CPF can I use to purchase a Design, Build
and Sell Scheme (DBSS) flat?
A12: You can use your Ordinary Account savings and future
monthly CPF contributions in this account to buy a property
and/or to pay the monthly installments of the bank loan up to
the Valuation Limit (VL). If your housing loan is still
outstanding when your total CPF usage has reached the VL, you
may withdraw further CPF savings up to the applicable Housing
Withdrawal Limit, if you can set aside the prevailing Minimum
Sum cash component (for members below 55 years old), or the
Minimum Sum cash shortfall (for members 55 years old and above).
Q13) I am a first
timer and I am eligible for 90% HDB loans, how much do I need to
prepare for buying an DBSS?
A13) For purchase of DBSS, you need to pay 5% option fee upon
booking and 15% for downpayment. For HDB loans, you may be
eligible to loan up to a maximum of 90% of the purchased price
(subjected to HDB approval). You may also be eligible for CPF
housing grant of maximum $40k and Additional
CPF Housing Grant of maximum $40k, which can be used to offset
the initial 15% downpayment.
The initial payments to be made are:
i) Option fee (cash only) - 5% of purchase price upon booking.
(Cash only but reimbursable from own CPF, see here)
ii) Stamp duty (cash or cpf) - [ (3% x purchase price) - 5400 ]
(for purchase price above $360,000)
iii) Downpayment (cash or cpf or partial HDB loan) - 15% of
purchase price
iv) Remaining 80% will usually be paid by progressive payment
financed by your loan. The monthly installment can be deducted
from CPF (if there are sufficient CPF) and the amount will be
determined by the loan quantum, loan tenure and interest rate.
Example, the intital payments for $550,000 unit.
i) Option fee (cash only) - $27,500
ii) Stamp duty (cash or cpf) - $11,100
iii) Downpayment (cash or cpf or partial HDB loan) - $82,500
($42,500 if eligible for $40k CPF housing grant)
Q14) After making the
intial downpayment, when is the next payment?
A14) For DBSS project, the developer will offer progress payment
to buyers, whereby the loan (HDB or Bank loan) will be disbursed
progressively to meet the progress payments during the
construction period. Buyers will commence payment of their
monthly instalments once the loan is disbursed under the Gradual
Repayment Plan i.e. the instalments will be calculated based on
the amount of loan disbursed over the outstanding loan duration.
The instalment amount will comprise both interest and principal.
Below is an estimated progress payment and meant for your
reference.
Q15) I am currently applying for Build-To-Order (BTO) from HDB, can I apply for DBSS?
A15) Yes, you can apply for DBSS even if you have submitted your application for BTO, you will only need to cancel the BTO when you book a DBSS flat.
Q16) I am very interested in getting a unit (if the price is right), what is the procedure? *
A16)
Prior showflat opening
If you are really interested in getting a unit, you should first engage a salesperson to check your eligibility to buy a DBSS.
You will also need to check if you are eligible for the priority scheme, eg Married Child Priority Scheme (MCPS) and/or Third Child Priority Scheme (TCPS), so as to increase your chances in the balloting. For first timer who is eligible for MCPS, you may be eligible for additional $10k CPF Housing Grant if your household income has not exceeded $8k.
You should also understand the financial commitment (cash, cpf, grant, loan granted etc). Should you be eligible for HDB loan, please apply for the HDB Loan Eligibility (HLE) letter from HDB website. Speak to your preferred banker for bank loan.
Check with the salesperson on the documents required (NRIC, payslips, marriage certificate etc) for e-application and fill up the e-application form prior showflat opening. When the showflat is open, you will be able to focus more time on the showflat viewing rather than spending time doing the paperwork. You may email the e-application form to us for verification. The e-application is free of charge and there is no penalty should you decided not to book a unit (even if you are successfully balloted). Note that you do NOT need to pay salesperson any commission, we are engaged by developer to help interested buyers with all sales related matters.
During showflat opening
Make an appointment with the salesperson to view the showflat. Bring along your relevant documents for e-application and submit your e-application at the showflat. Showflat is expected to be crowded during launch, thus it is advisable to make an appointment with the salesperson prior visiting the showflat. Weekend are expected to be even more crowded, thus to have a better view experience, you may want to consider visiting the showflat in the weekdays instead.
Do speak to the banker and/or HDB officer (if any) at the showflat to understand more on the financial commitment.
During showflat closure (prior balloting and booking)
If you are applying for HDB loan, you should ensure that you received the HLE prior booking. If you are applying for bank loan, you should get in-principal approval from your preferred banker.
You should know the maximum loan granted prior booking, as should there be a shortfall between the maximum loan and the purchase price, the difference is required to be cover by Cash, CPF and/or CPF Housing Grant (if eligible). This is even more important if you have just started to work and do not have alot of CPF contribution yet or you have utilized a large portion of your CPF to pay off the existing housing loan. For those with existing housing loan, the maximum loan granted will be lower than those without any housing loan.
Other than working out your finances, you should also be shortlisting your preferred units. Some of the factors you may want to take into consideration are unit type (3, 4 or 5 rooms), layout, facing and level etc. The actual pricing should be released about 2 days prior booking, check with your salesperson on your shortlisted units pricing (actual pricing usually will not be released publicly).
During showflat closure, the applicants will be balloted by the computerized system and allocate with an appointment date/time to book a unit at the showflat. For those with earlier appointment date/time, they will be able to select the unit first, thus should stand a better chance to select their choice units. The booking may span for a few days and if your booking appointment is not on the first day, it is likely that you will be anxious to know if your choice units are already taken up. If you have e-applied with our salesperson, we will try our best to update you on your choice units availablities.
During booking
Bring along your list of shortlisted units (as many as possible), pending documents (if any) & 5% cheque, HLE (if applicable). The salesperson will be there to assist you with the booking. Booking may take few hours, thus do have a proper meal and bring extra clothing (may be cold after few hours at the showflat) prior coming down.
* These are just general guidelines and may not be comprehensive enough to cover all scenarios, the actual process from e-application to booking will be on a case-by-case basis. If you are really interested to book a unit, always speak to the salesperson first and try to engage the same salesperson throughout the entire process. Contact our salesperson now.
Q16) What if I missed the e-application?
A16) If you missed the e-application, you will NOT be qualified for the balloting and thus you will NOT be able to book a unit during the balloting exercise. However, should there be balance units after the balloting exercise and your ethnic quota is not filled, you may still be eligible to book a unit via walk-in-selection.
Q17) I and/or partner are not available for the e-application and/or booking, is it still possible to qualify for balloting and book a unit?
A17) Yes, it can be done. Please speak to our salesperson asap and we will advise you accordingly.
Q18) Do we need to pay the salesperson commission?
A18) No, you do not need to pay the salesperson commission. We are engaged by developer to help with sales related matters. Please speak to the salesperson, as buying house is a big commitment, we will be able to advise you accordingly.
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Latest Updates
3 May 2012 - E-application closed. For buyers who had submitted the e-application online without salesperson assistance, you will like to know what's next. Please get in touch with our salesperson, we will advise you on the balloting results, balance units after each day balloting (if your appointment is not on the first day of balloting), required documents to bring for booking and assist you during the booking (there will be many forms to be filled). We are engaged by developer to provide smooth e-application and booking, you do not need to pay any agent fee.
Walk-in-selection. If you have missed the e-application and would like to be updated on the walk-in-selection and units available after the entire balloting exercise, please register your interest with us.
E-application: 27 Apr - 2 May 2012
Register your interest with us and we
will update you with the latest information
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Useful Links
Eligibility Check
Downpayment for DBSS
CPF Housing Grant for family
Additional CPF Housing Grant
Adora
Green DBSS |
Latest News
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