HDB launches 9,144 BTO flats, including first projects at new estates in Toa Payoh, Bt Merah

The Housing Board launched 9,144 Build-To-Order (BTO) flats for sale on Oct 15, including the first flats in two new housing estates Mount Pleasant in Toa Payoh town, and Berlayar on the former Keppel Club site in Bukit Merah.

- Isabelle Liew

In all, 10 projects are on sale across Ang Mo Kio, Bedok, Bishan, Bukit Merah, Jurong East, Sengkang, Toa Payoh and Yishun.

The subsidy clawback rate for Prime project Berlayar Residences, the first project in the new Berlayar estate forming part of the Greater Southern Waterfront, was set at 14 per cent the highest so far. The rate for Prime flats in the July sales exercise was between Il per cent and 12 per cent.

This means that when such flats are sold, owners will have to pay HDB a percentage of the resale or valuation price, whichever is higher.

These clawbacks correspond to the extent of the extra subsidies offered, said HDB. There is also a 10-year minimum occupation period (MOP) for these flats.

The rate was set at 12 per cent for Mount Pleasant Crest in Toa Payoh and Redhill Peaks in Bukit Merah.

At Bishan Terraces, it is 10 per cent.

The only Plus project, Oak Ville @ AMK, comes with a subsidy clawback of 7 per cent. The 1,425-unit project in Ang Mo Kio Avenue 5, near ITE College Central and Anderson Secondary School, also has a 10-year MOP.

Berlayar Residences will have 880 units of two-room flexi, threeand four-room flats on a site between Telok Blangah and Labrador Park MRT stations. The wait for a flat there is four years and eight months.

Prices (without grants) range from $218,000 to $369,000 for a two-room flexi flat, $420,000 to $562,000 for a three-room unit, and $578,000 to $788,000 for a four-room flat.

The upcoming blocks will be between 19 and 46 storeys high, and one will have rental flats.