River Isles Payment Schedule & Financing

On May 8, 2012, in River Isles, by Developer Sales Team

This page lists costs involved in buying a River Isles condo unit, when payments must be made, and sources of funds at each stage.
::

Costs of Buying a unit at this Punggol Condo

Costs involved are:

  1. Purchase Price
  2. Basic Stamp Duty = Purchase Price x 3% – $5,400 (applies to all cases)
  3. Additional Buyer Stamp Duty (ABSD) :: ABSD only applies in certain cases:
    • Singapore Citizen who already owns 2 or more residential property: ABSD = 3%
    • Singapore PR who already owns one or more residential property: ABSD = 3%
    • Foreigner: ABSD = 10%
  4. Legal fees. Banks usually subsidize legal fees as part of their project package, subject to terms.

No agent commission or fee payable.

::

Sources of Funds

  1. Minimum 5% must be from your own cash. (10% if you currently have a housing loan.)
  2. Your CPF monies in OA (Ordinary Account).
    Note: if this is your 2nd or subsequent property purchase using CPF funds, you must individually set aside at least $65,500 (applies before July 2012; this will increase after that) in your OA + SA combined, before you can use the balance.
  3. Bank Loan. See Financing below for maximum loan amounts, etc.

::

Financing for River Isles Condo

Financing is typically from banks or financial institutions.

Government regulations for loans are as follows:
. Maximum of 80% loan if you do NOT currently carry a property loan.
. Maximum of 60% loan if you currently do have an outstanding property loan.

If you require financing, it is highly advisable to obtain an In-Principle Approval (IPA) in advance. It gives you assurance that you qualify for a loan, and ascertains the maximum loan quantum.

We have a panel of project mortgage bankers from all the major banks to advise you on the best possible loan packages for River Isles and help you get the IPA.

::

Payment Schedule under Normal Payment Scheme

Payment terms & funding for those taking 80% (if currently no property loan) vs those taking 60% loan (if currently have outstanding loan). CLICK TO ENLARGE.
River Isle Payment Plan

::

If you have any questions on costs, financing or funding for this Punggol condo, or if you need a copy of the Payment Schedule, just let us know through.

::

OTHER DEVELOPER LAUNCHES

Another condominium that will be launching in District 19 will be the Gazania condo. But this one is a freehold private development, and it is located in the Bartley area. In fact, it will arise on the site of the former Sun Rosier at How Sun Drive, that is less than 5 minutes walk from Bartley MRT station.

The neighbourhood is a low-rise private residential estate. The Gazania condo site is zoned with a 1.4 plot ratio, so it will also only be 5 storeys high at the most. It will be surrounded by almost exclusively private homes, most of them one or 2, at the most 3 storey high landed houses.

The other attraction about the Gazania location is that it is just opposite the highly regarded Maris Stella High School. Well within the all important 1km radius, so parents with young boys may want to consider getting a home here. Not only would it be easier to get a place for your child, but he could just walk over each morning to school, without having to wake up at some unearthly hour to take the school bus. Saving a couple of hours or so each day would probably help his grades too!

The Gazania condo is also at the edge of the new Bidadari Estate. This is a young upcoming new estate that is touted as the new Bishan. It will provide lots of amenities, besides a big park and lake.

If you are a freehold fan, this project should appeal to you as the location is good too. Sign up to take a look at the Gazania showflat if you like, or to be kept posted on the floor plans and other details.

ParkSuites @ Holland Grove :: Opposite Henry Park Primary School :: Condo SOHO apartments & shops :: VIP Preview early 2015 by Far East Organisation

GD Star Rating
loading...
River Isles Payment Schedule & Financing, 3.3 out of 5 based on 11 ratings

Comments are closed.