EC Normal Progressive Payment Scheme

Scheduled Payment To The Developer According To The Progress of The Development

​Progressive Payment Schedule for Buying New Launch Executive Condo

Make Instalment Payments In Tandem With The Construction Progress

The Progressive Payment Schedule for buying new private property deals with New Launch Executive Condos that are in the process of being built.

  • It refers to payment by instalments, typically 5 – 10 per cent, with each payment being made when a specific milestone is reached.
  • During the initial stages, payments are spaced far apart. Payments become more constant toward the second stage.
    • For example, you would pay the developer one instalment when the foundation is built, one more when the walls are up, one more when the roof is finished, etc.

EC Progressive Payment Scheme (LTV 75%)

Stage%DescriptionWhen to Get ReadyPayment Mode
1st5%Booking & Obtaining Option To PurchaseDay 1Cash
Payment of Resale Levy

  • If the 1st subsidised flat already been sold. Payment at the HDB Branch, before EC Buyer sign the S&P.
  • If the 1st subsidised flat is not sold yet, pay upon the sale of the 1st subsidised flat, within 6 mths from the date of TOP
Buyer to engage solicitor (~ $3000)
Buyer to select the Mortgage Loan (Stamp fee ~$500)
Buyer to submit documents to HDB
Buyer's Stamp DutyWithin 2 weeks upon signing S&PCash or CPF OA
15%DownpaymentWithin 9 weeks from Date of OptionCash or CPF OA
2nd5%Completion of Foundation Work
Cash or CPF OA
5%Bank Loan
3rd10%Completion of Reinforced Concrete
Bank Loan
4th5%Completion of Brick Wall
Bank Loan
5th5%Completion of Ceiling / Roofing
Bank Loan
6th5%Completion of Doors & Windows Frames are in position, the Electrical Wiring & Plumbing & Internal Plastering
Bank Loan
7th5%Completion of Car Park, Roads and Drains
Bank Loan
8th25%Obtaining Temporary Occupation Permit (TOP)
Bank Loan
9th15%Upon Production of the Certificate of Statutory Completion (CSC)
Bank Loan
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