NOTICE FOR APPLICANTS: Application for Fernvale Flora and Fernvale Gardens in Sengkang, and Segar Vale in Bukit Panjang is closed on 14 March 2011. You will be informed by HDB of your balloted queue position in end March 2011. Invited applicants will be given an appointment to select a unit. Selection of unit starts in April 2011.
Press released 28 Feb 2011
HDB is launching three BTO projects today – Fernvale Flora and Fernvale Gardens in Sengkang, and Segar Vale in Bukit Panjang. A total of 1,593 standard flats will be offered, comprising 205 units of 2-room, 219 units of 3-room, 800 units of 4-room and 369 units of 5-room flats. 95% of the flat supply will be set aside for First-Timer households.
FERNVALE FLORA AND FERNVALE GARDENS
2Bounded by Fernvale Road and Sengkang West Way, Fernvale Flora is a standard contract with 521 flats, comprising 93 units of 2-room, 107 units of 3-room and 321 units of 4-room flats. Nearby, along Fernvale Link, is Fernvale Gardens – also a standard contract with 382 flats, comprising 210 units of 4-room and 172 units of 5-room flats.
Both projects are in close proximity to Fernvale LRT station. Residents will be served by the wide range of facilities in Sengkang Town such as the Sengkang MRT/LRT station, bus interchange, Fernvale Point, Compass Point, Rivervale Mall, and Rivervale Plaza (an HDB neighbourhood centre). Other facilities include the Anchorvale Community Club, Sengkang Sports and Recreation Centre and Sengkang Riverside Park. There are also primary and secondary schools in the area. The Tampines Expressway is a short drive away.
PRICING OF NEW FLATS AT FERNVALE FLORA, FERNVALE GARDEDNS AND SEGAR VALE
New HDB flats are priced with a generous subsidy below their market value. The market value, as determined by professional valuers, takes into account the prices of comparable resale flats in the area, adjusted for factors such as location, flat attributes, design, availability of flats for occupation and prevailing market conditions.
In addition, eligible first-timers buying 2-room and bigger new flats and earning not more than $5,000 per month can also apply for the Additional CPF Housing Grant (AHG) of up to $40,000. The AHG can be used to offset the initial down-payment.
The selling prices for the flats range from:
Fernvale Flora and Fernvale Gardens
$88,000 to $120,000 for a 2-room;
$148,000 to $193,000 for a 3-room flat;
$240,000 to $311,000 for a 4-room flat; and
$310,000 to $378,000 for a 5-room flat
Segar Vale
$83,000 to $108,000 for a 2-room;
$143,000 to $173,000 for a 3-room flat;
$226,000 to $284,000 for a 4-room flat; and
$298,000 to $354,000 for a 5-room flat
First-time flat buyers are estimated to use 16% to 24% of their monthly household income to meet their monthly loan payments for flats in Fernvale Flora, Fernvale Gardens and Segar Vale. For example, a 4-room unit priced at $255,000 in Segar Vale, requires a monthly mortgage instalment of about $919. A family with a household income of $4,100 will be able to service this mortgage instalment solely using their CPF contributions.
UPCOMING SALES LAUNCHES FOR FIRST HALF OF 2011
HDB has ramped up its new flat supply significantly to meet the demand from first-timer households. In 2011, HDB has plans to offer up to 22,000 new flats under BTO, if demand is sustained. In the first six months of 2011, flat buyers can look forward to about 11,000 new BTO flats. These projects will have a good geographical spread in towns/estates such as Bukit Panjang, Jurong West, Punggol, Sengkang and Sembawang. The next BTO launch in March 2011 will offer about 1,500 flats in Jurong West and Sengkang. More details will be provided at the launch.
The BTO supply will be supplemented by the housing units under the Design, Build & Sell Scheme (DBSS) and the Executive Condominium (EC) Housing Scheme. For 2011, based on the land sales scheduled, there will be about 4,000 DBSS flats and 4,000 EC units. In the first half of 2011, HDB will release for tender four sale sites under DBSS with a potential yield of about 2,700 flats. The site at Clementi Avenue 4 under DBSS (estimated 770 units) has been launched for tender on 26 Jan 2011 (Tuesday) and with the tender closing on 8 Mar 2011 (Tuesday).
Under the Government Land Sales (GLS) Programme, HDB will also release four sale sites for EC developments with a potential yield of about 2,300 EC units in the first half of 2011. The site at Choa Chu Kang Drive (estimated 490 EC units) has been launched for tender on 21 Jan 2011 (Friday) and with the tender closing on 22 Mar 2011 (Tuesday).
More information, please visit http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/DA4F63C348AA4B9C4825784500035F4A?OpenDocument
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