Will you buy a 99-year LH landed at $1000 psf?

[Secretariat]

Do you think that there a market for this type?

- A new 2.5-storey terrce house, 99-years LH,

- 1st floor 1000 sqf, 2nd floor, 1000 sqft, 3rd floor 800 sqf with a 200 sqf open terrace,

- The design of 1st and 2nd is equivalent to what you can get in a new 1000 sqf condo unit,

- The design of the 3rd floor attic is equivalent to what you can get in a new 800 sqf condo unit, with a open terrace thrown in,

- Access to 2nd, 3rd floor by a lift, lift is also enclosed from from 1st floor (so, a 3-keys access house)

- Carporch can accommodate 1 car, garden beside car driveway, small garden at backyard

Price is $3.0 mil, or $1000 psf of GFA.

[hovivi]

Burning question i have is what happen after 99 years.. Govt take back the land?

Have seen so many run down leasehold landed ppty with less than 50 year lease, some like 30 years left.. Condition really dated..

I will buy smaller freehold or pay a little more for it. I own the land retain the value and can rebuild.. Neighbours do that too so overall the estate get rejuvenated over time.

[DC33_2008]

Which district is this located before giving comments?
Do you think that there a market for this type?

- A new 2.5-storey terrce house, 99-years LH,

- 1st floor 1000 sqf, 2nd floor, 1000 sqft, 3rd floor 800 sqf with a 200 sqf open terrace,

- The design of 1st and 2nd is equivalent to what you can get in a new 1000 sqf condo unit,

- The design of the 3rd floor attic is equivalent to what you can get in a new 800 sqf condo unit, with a open terrace thrown in,

- Access to 2nd, 3rd floor by a lift, lift is also enclosed from from 1st floor (so, a 3-keys access house)

- Carporch can accommodate 1 car, garden beside car driveway, small garden at backyard

Price is $3.0 mil, or $1000 psf of GFA.

[Secretariat]

Which district is this located before giving comments?

Let's say at Sembawang Hill or Thomson Hill area.

I just want to gauge the potential demand, to see if a project like this makes sense.

Thanks all in advance for commenting.

[lajia]

I thought Haus@ is already selling much more above 1000psf?? The question is the timing, not so much of value...if 3 yrs ago at this price, then maybe nobody will buy....look at SM in Yishun, above 1000psf average, few yrs back u think they can sell??




Do you think that there a market for this type?

- A new 2.5-storey terrce house, 99-years LH,

- 1st floor 1000 sqf, 2nd floor, 1000 sqft, 3rd floor 800 sqf with a 200 sqf open terrace,

- The design of 1st and 2nd is equivalent to what you can get in a new 1000 sqf condo unit,

- The design of the 3rd floor attic is equivalent to what you can get in a new 800 sqf condo unit, with a open terrace thrown in,

- Access to 2nd, 3rd floor by a lift, lift is also enclosed from from 1st floor (so, a 3-keys access house)

- Carporch can accommodate 1 car, garden beside car driveway, small garden at backyard

Price is $3.0 mil, or $1000 psf of GFA.

[chestnut]

Let's say at Sembawang Hill or Thomson Hill area.

I just want to gauge the potential demand, to see if a project like this makes sense.

Thanks all in advance for commenting.

Bro, don't get caught in the Euphoria and Belief that "this time, it is different. Risk/return ratio still applies and u need to always know your objective.

:cheers5:

[DC33_2008]

Thanks for the additional info. You can get one FH near city fringe and walking distance to future DTL for 3 million. Looking at the description, the land area is rather small and with a lift core punching each floor will have less useful area besides the staircase. Make sense to buy FH landed.
Let's say at Sembawang Hill or Thomson Hill area.

I just want to gauge the potential demand, to see if a project like this makes sense.

Thanks all in advance for commenting.

[DC33_2008]

Haus is ripe off. Staying in a landed next to CTE at that kind of price. It is not even in the heart of serangoon garden.
I thought Haus@ is already selling much more above 1000psf?? The question is the timing, not so much of value...if 3 yrs ago at this price, then maybe nobody will buy....look at SM in Yishun, above 1000psf average, few yrs back u think they can sell??

[Laguna]

Haus is ripe off. Staying in a landed next to CTE at that kind of price. It is not even in the heart of serangoon garden.

I went to see Haus as well.
On top of it is near to MRT, the location has very limited public transport and quite a number of retirement homes within walking distance.

In fact, the $3m budget, can find a rather good inter-terrace.

[Pynchmail]

Assuming land size is around 1600sf and it is an inter-terrace, the price appears to be on the high side. $3m should be able to get a freehold terrace at close to that price, maybe slightly more. If it is a strata terrace, then for that location, you can get freehold.

[buttercarp]

Hi secretriat

My answer is NO.

For 2800 sq ft of live in space and in a surburb for 3mil, and I suppose land area is less than 2000sq ft (cos you said can only park 1 car), the asking price is way too high!

Luxus Hills is 999y and is less than 3 mil.

[Secretariat]

Thanks for the additional info. You can get one FH near city fringe and walking distance to future DTL for 3 million. Looking at the description, the land area is rather small and with a lift core punching each floor will have less useful area besides the staircase. Make sense to buy FH landed.

Yes, the location of staircase is a challenge in the design. Also the HS.

Land area is 2000 sqf? It is more of getting the suitable land plot.

The design of the house, the internal, will offer good usage of space. In other words, the survey question is in the scenario that you like the layout. I think that most buyers won't buy, no matter how cheap (or how new) the house is, if they don't like the layout mah?

[Secretariat]

Bro, don't get caught in the Euphoria and Belief that "this time, it is different. Risk/return ratio still applies and u need to always know your objective.

:cheers5:

Bro, thanks for your advice at all times.

The potential downside of this idea, is very limited, and almost insulated...but need legal confirmation yet.

[buttercarp]

Hi secretariat

IMHO, the lift will block the light well and the house will be rather dark especially if it is an inter terrace.

Just out of curiousity..... did you buy it already?

[lifeline]

Hi secretriat

My answer is NO.

For 2800 sq ft of live in space and in a surburb for 3mil, and I suppose land area is less than 2000sq ft (cos you said can only park 1 car), the asking price is way too high!

Luxus Hills is 999y and is less than 3 mil.



agree with buttercarp.


anyway for that 2 area you referred to, a better consideration will be between these 2:

1. luxus hills

2. tong eng new release - signages up for 2 weeks (but i have not opened a new thread for this). prob cluster like poet villas - same developer. located in-between the 2 bukit sembawang land along amk ave 5 (luxus hills and the other beside cte)
http://www.tongeng.com.sg/index.php?option=com_content&view=article&id=80&Itemid=61

[Secretariat]

Hi secretriat

My answer is NO.

For 2800 sq ft of live in space and in a surburb for 3mil, and I suppose land area is less than 2000sq ft (cos you said can only park 1 car), the asking price is way too high!

Luxus Hills is 999y and is less than 3 mil.

Yes, the competition is the developers...hahaha

How much is the maintenance fee of Luxus Hill, sis?

[lifeline]

Secretariat,

read through your post again and found new angles.

are you a developer? or brainstorming / designing for a developer?

anyway, this concept is good! esp for owners thinking of renting out as well or giving the married children some privacy. triple key access (from external to the structure) - why not?

but access cannot be via lift alone - throw in a spiral staircase. does a spiral staircase incur gfa on the 2nd and 3rd floor? if it does (from my previous recollection), then makes more sense to have conventional staircase; though this will reduce the usable area. then got to choose between lift and staircase.

but pls increase the footprint of each floor and not small like the cabana or shaughnessy (no offense intended) from my memory of previous visits.

[buttercarp]

Yes, the competition is the developers...hahaha

How much is the maintenance fee of Luxus Hill, sis?

Luxus Hills is a true landed (not strata), so there is no "official" maintenance fee :) .

[Pynchmail]

Secretariat,

read through your post again and found new angles.

are you a developer? or brainstorming / designing for a developer?

anyway, this concept is good! esp for owners thinking of renting out as well or giving the married children some privacy. triple key access (from external to the structure) - why not?

but access cannot be via lift alone - throw in a spiral staircase. does a spiral staircase incur gfa on the 2nd and 3rd floor? if it does (from my previous recollection), then makes more sense to have conventional staircase; though this will reduce the usable area. then got to choose between lift and staircase.

but pls increase the footprint of each floor and not small like the cabana or shaughnessy (no offense intended) from my memory of previous visits.

Very interesting concept of a 3-key access. May work although the porch for only one car may be a drawback.

[DC33_2008]

Bro or Sis, how to move furniture up on a spiral staircase unless is wide enough.
Secretariat,

read through your post again and found new angles.

are you a developer? or brainstorming / designing for a developer?

anyway, this concept is good! esp for owners thinking of renting out as well or giving the married children some privacy. triple key access (from external to the structure) - why not?

but access cannot be via lift alone - throw in a spiral staircase. does a spiral staircase incur gfa on the 2nd and 3rd floor? if it does (from my previous recollection), then makes more sense to have conventional staircase; though this will reduce the usable area. then got to choose between lift and staircase.

but pls increase the footprint of each floor and not small like the cabana or shaughnessy (no offense intended) from my memory of previous visits.

[buttercarp]

Bro or Sis, how to move furniture up on a spiral staircase unless is wide enough.

That's why got lift.

[Secretariat]

Secretariat,

read through your post again and found new angles.

are you a developer? or brainstorming / designing for a developer?

anyway, this concept is good! esp for owners thinking of renting out as well or giving the married children some privacy. triple key access (from external to the structure) - why not?

but access cannot be via lift alone - throw in a spiral staircase. does a spiral staircase incur gfa on the 2nd and 3rd floor? if it does (from my previous recollection), then makes more sense to have conventional staircase; though this will reduce the usable area. then got to choose between lift and staircase.

but pls increase the footprint of each floor and not small like the cabana or shaughnessy (no offense intended) from my memory of previous visits.

No la, just as an individual la...

There will be a staircase, the placement of it is tricky. Maybe have to bang table at BCA hahaha.

[DC33_2008]

But losing more useable floor area and these are included in gfa. That is why people who buy soho or studio are paying all these not useable areas.
That's why got lift.

[Secretariat]

Hi secretariat

IMHO, the lift will block the light well and the house will be rather dark especially if it is an inter terrace.

Just out of curiousity..... did you buy it already?

It is the design of it...certainly won't be the conventional type for a single family.

Bought? No la, I am not as gunho as, for instance, Yowetan leh..

[lifeline]

Very interesting concept of a 3-key access. May work although the porch for only one car may be a drawback.

interested buyers will mainly be extended families or if the site is near to international school etc, then dun need space for more than 1 car.

but 3 mil for 99lh is too high, esp when luxus hills fh costs the same.

anyway with cm6, this type of high quantum purchases will interest mainly those for own stay first.

[Secretariat]

Very interesting concept of a 3-key access. May work although the porch for only one car may be a drawback.

Yes, a drawback indeed.

[Secretariat]

interested buyers will mainly be extended families or if the site is near to international school etc, then dun need space for more than 1 car.

but 3 mil for 99lh is too high, esp when luxus hills fh costs the same.

anyway with cm6, this type of high quantum purchases will interest mainly those for own stay first.

I was wondering where the $3.0 mil came from? My bad, a typo error in the original post.

At $1000 psf GFA, it should be $2.8 mil.

Just a correction, makes not a lot of difference.

[buttercarp]

I was wondering where the $3.0 mil came from? My bad, a typo error in the original post.

At $1000 psf GFA, it should be $2.8 mil.

Just a correction, makes not a lot of difference.

The last transacted price for Luxus Hills was 2.8 mil.

So my answer to your question will still be a No.

Btw, this corner terrace (FH) at Platina rd going for 3.1 mil (neg).

http://www.propertyguru.com.sg/listing/10997492/for-sale-sembawang-platina-road-corner-terrace?street_id=2704

[lifeline]

No la, just as an individual la...

There will be a staircase, the placement of it is tricky. Maybe have to bang table at BCA hahaha.


are you designing your new house? or subdividing your plot to include 1 unit like this ??? :D

[Secretariat]

are you designing your new house? or subdividing your plot to include 1 unit like this ??? :D

No, just buying a landed with original dwelling, tear it down, rebuild, and sell.

[buttercarp]

No, just buying a landed with original dwelling, tear it down, rebuild, and sell.

Wow.... then you must be a contractor, or someone who has good connection with contractors? A&A is a big headache if you don't know of reliable contractors, let alone tearing down the whole unit which will incur a high property tax until the unit TOP.

[Secretariat]

The last transacted price for Luxus Hills was 2.8 mil.

So my answer to your question will still be a No.

Btw, this corner terrace (FH) at Platina rd going for 3.1 mil (neg).

http://www.propertyguru.com.sg/listing/10997492/for-sale-sembawang-platina-road-corner-terrace?street_id=2704

OK, what price level will you buy?...in $xxx psf...serious number(s) please, hahaha.

It is to be located in a mixed landed housing estate, cannot see HDBs or factories one, ok maybe a bit of these at the attic level.

[Secretariat]

Wow.... then you must be a contractor, or someone who has good connection with contractors? A&A is a big headache if you don't know of reliable contractors, let alone tearing down the whole unit which will incur a high property tax until the unit TOP.

Not contractor la, just an individual...also no short cuts, cheap materials for the rebuilding...the competition is developers leh, hahaha.

Until TOP where got property tax?

[buttercarp]

Not contractor la, just an individual...also no short cuts, cheap materials for the rebuilding...the competition is developers leh, hahaha.

Until TOP where got property tax?

This was told to me by a friend who tore down his whole house to rebuild.
The property tax increased exponentially until the house TOP, ie the vacant land incurred a high tax.

http://www.iras.gov.sg/irasHome/page04.aspx?id=2422

[lifeline]

Not contractor la, just an individual...also no short cuts, cheap materials for the rebuilding...the competition is developers leh, hahaha.

Until TOP where got property tax?


2 friends recently sold their 85lh landed for 1.6+ and 1.7+ near international school. i am sure if the buyers want to, they can simply add a staircase externally, etc. priced around there and adjust for 99lh la.

you must be very proficient in rebuilding. how many have you done?

[Secretariat]

This was told to me by a friend who tore down his whole house to rebuild.
The property tax increased exponentially until the house TOP, ie the vacant land incurred a high tax.

http://www.iras.gov.sg/irasHome/page04.aspx?id=2422

Please read the IRAS content carefully.

Anyone has been paying property tax on condo units under construction?

[Secretariat]

2 friends recently sold their 85lh landed for 1.6+ and 1.7+ near international school. i am sure if the buyers want to, they can simply add a staircase externally, etc. priced around there and adjust for 99lh la.

you must be very proficient in rebuilding. how many have you done?

The downside risk of this method is too high, so never considered it.

Anyway, appreciate all the views. Kamsia...:D

[buttercarp]

Please read the IRAS content carefully.

Anyone has been paying property tax on condo units under construction?

You also go n read properly n email the relevant authority since you may be faced with such a situation.
I am just sharing with u what my friend has experienced.
This is a forum n we share our experience.
It is up to you whether u believe or not.

[amk]

Buttercarp is rite. You continue paying tax on the land you own.

[Secretariat]

You also go n read properly n email the relevant authority since you may be faced with such a situation.
I am just sharing with u what my friend has experienced.
This is a forum n we share our experience.
It is up to you whether u believe or not.

LOL...I did a couple of rebuilding already. Think about it, what is the basis of tax, when there is no house to be occupied. Know the basis of IRAS calculation of Annual Value or not?

And for condo property tax, please read:

http://singaporerealestatearena.com/buying-guide-2/building-under-construction-buc/

"all property tax levied in respect of the unit after the purchaser receives from the developer the Notice of Vacant Possession." ..AFTER leh...

[Secretariat]

Buttercarp is rite. You continue paying tax on the land you own.

Land, yes, but not the demolished house. Not on the new house being built.

[buttercarp]

Land, yes, but not the demolished house. Not on the new house being built.

Precisely.
The property tax on a vacant land is much more expensive than that of the house.
----------------------------------------------------------------------------------
Property Tax Assessment
Property Tax is a tax on property which includes vacant land and development sites.
How is Property tax calculated?

For vacant land and development sites, property tax is calculated based on a percentage (Tax rate) (http://www.iras.gov.sg/irasHome/page04.aspx?id=12186) of the Annual Value (AV) (http://www.iras.gov.sg/irasHome/page04.aspx?id=2110) of your land. The AV is assessed at 5% of the estimated freehold land value. The current tax rate is 10%.

http://www.iras.gov.sg/irasHome/page04.aspx?id=2492
Example : AV of land is $1,000,000
Property Tax payable is:$1,000,000 X 10% = $100,000Tax payable in 2011:= $100,000
-------------------------------------------------------------------------------
Buildings

The AV is the estimated annual rent of your property if it were to be rented out, excluding the furniture, furnishings and maintenance fees. It is determined after analysing the rents of similar or comparable properties. The basis of determining the AV is the same whether the property is rented out, owner-occupied or left vacant. If your property is rented out, the AV could be higher or lower than your actual rents as the AV reflects the market rent at the time of review, while your actual rents were committed earlier.
The current tax rate is 10%.

Property tax is computed as follows:
Property tax payable yearly = Annual Value (http://www.iras.gov.sg/irasHome/page04.aspx?id=2110) X Tax Rate (http://www.iras.gov.sg/irasHome/page04.aspx?id=12186)

Eg if I can rent out my terrace house at $5k per month,
my annual value will be 5000 x 12 = $60 000 per year.

Property Tax payable = $60 000 X 10%
= $6000 yearly
---------------------------------------------------------------------------------

In conclusion :

Property tax per year :
1st case (vacant land) - $100 000
2nd case (completed house) - $6000

So A&A - not considered vacant land
But demolition and tearing the whole house down = vacant land.

[DC33_2008]

Not true as my house took about 1 year to be reconstructed. I wrote in to IRAS with the relevant document to prove that it is ot occupied and under construction to seek for a waive for property tax.
Buttercarp is rite. You continue paying tax on the land you own.

[buttercarp]

Not true as my house took about 1 year to be reconstructed. I wrote in to IRAS with the relevant document to prove that it is ot occupied and under construction to seek for a waive for property tax.

Yup, if you write in and certain conditions are fulfilled then it can be done.
If you don't write in then you will get taxed.
So the purpose of my bringing up of this issue is to alert those who may be in this situation to email the relevant authority on the matter.

[Secretariat]

Precisely.
The property tax on a vacant land is much more expensive than that of the house.
----------------------------------------------------------------------------------
Property Tax Assessment
Property Tax is a tax on property which includes vacant land and development sites.
How is Property tax calculated?

For vacant land and development sites, property tax is calculated based on a percentage (Tax rate) (http://www.iras.gov.sg/irasHome/page04.aspx?id=12186) of the Annual Value (AV) (http://www.iras.gov.sg/irasHome/page04.aspx?id=2110) of your land. The AV is assessed at 5% of the estimated freehold land value. The current tax rate is 10%.

http://www.iras.gov.sg/irasHome/page04.aspx?id=2492
Example : AV of land is $1,000,000
Property Tax payable is:$1,000,000 X 10% = $100,000Tax payable in 2011:= $100,000
-------------------------------------------------------------------------------
Buildings

The AV is the estimated annual rent of your property if it were to be rented out, excluding the furniture, furnishings and maintenance fees. It is determined after analysing the rents of similar or comparable properties. The basis of determining the AV is the same whether the property is rented out, owner-occupied or left vacant. If your property is rented out, the AV could be higher or lower than your actual rents as the AV reflects the market rent at the time of review, while your actual rents were committed earlier.
The current tax rate is 10%.

Property tax is computed as follows:
Property tax payable yearly = Annual Value (http://www.iras.gov.sg/irasHome/page04.aspx?id=2110) X Tax Rate (http://www.iras.gov.sg/irasHome/page04.aspx?id=12186)

Eg if I can rent out my terrace house at $5k per month,
my annual value will be 5000 x 12 = $60 000 per year.

Property Tax payable = $60 000 X 10%
= $6000 yearly
---------------------------------------------------------------------------------

In conclusion :

Property tax per year :
1st case (vacant land) - $100 000
2nd case (completed house) - $6000

So A&A - not considered vacant land
But demolition and tearing the whole house down = vacant land.

Sometime I am amazed by how the brains of people really work, hahaha...

If you take the time & effort to dig out all these, highlighting & presenting, then at least understand what you are advising la...:doh:

Don't have to calculate, anyone can see that it simply doesn't make sense, hahaha.

But if still want to calculate?

Already stated clearly, from your WOT, that:

The Annual Value of a vacant land is 5% of an estimated FH land value.

For a vacant land with an Annual Value of $1.0 mil, it means that it's probable FH value is $20.0 mil. GCB leh...

A GCB generates this kind of rental?

The intent to alert others is good, but don't advise wrongly la.

[Secretariat]

Not true as my house took about 1 year to be reconstructed. I wrote in to IRAS with the relevant document to prove that it is ot occupied and under construction to seek for a waive for property tax.

I know la, bro...:D

But another one joined and disputed, so I just LL and "ok lor..." :D

[Secretariat]

Most people who read the law, they read the Letter of the law but misunderstood the Spirit of the law.

That's why we have lawyers, to help interpret the law.

But lawyers also can be wrong, so we have judges.

But judges also can be wrong, so we have the appeal process.

But the appeal judgement also can be wrong, so we have the Supreme Court.

But the law can also be wrong (more accurately, became irrelevant), so we have the parliamentary process to amend the law.

The intent, spirit, of the law related to taxation of vacant land is to prevent developers from hoarding lands acquired from the state. Because the general property tax law is based on an annual value derived from the rentals of similar property in the area.

A vacant land has no building, so how to assign its annual value. Cannot right? A loophole for developers to hoard a land without paying tax right?

So?

In our situation, once IRAS receives the building plan, the tax on the vacant land is suspended.

You know, nowadays IRAS is very efficient. They will send you an email asking you to forward the building plan they need to verify, to suspend the tax.

[stl67]

LOL...I did a couple of rebuilding already. Think about it, what is the basis of tax, when there is no house to be occupied. Know the basis of IRAS calculation of Annual Value or not?

And for condo property tax, please read:

http://singaporerealestatearena.com/buying-guide-2/building-under-construction-buc/

"all property tax levied in respect of the unit after the purchaser receives from the developer the Notice of Vacant Possession." ..AFTER leh...
Not sure if there is any diff bet an owner and a licensened developer? Do u have a licensense?

[Secretariat]

Not sure if there is any diff bet an owner and a licensened developer? Do u have a licensense?

No, but why?:confused:

[buttercarp]

Sometime I am amazed by how the brains of people really work, hahaha...

If you take the time & effort to dig out all these, highlighting & presenting, then at least understand what you are advising la...:doh:

Don't have to calculate, anyone can see that it simply doesn't make sense, hahaha.

But if still want to calculate?

Already stated clearly, from your WOT, that:

The Annual Value of a vacant land is 5% of an estimated FH land value.

For a vacant land with an Annual Value of $1.0 mil, it means that it's probable FH value is $20.0 mil. GCB leh...

A GCB generates this kind of rental?

The intent to alert others is good, but don't advise wrongly la.

That calculation of the land is by the website, not me.
This is a forum, we discuss and share our experience.
One has to get black and white from the authority for accurate advice.
You can't just trust what it is said here.

Ok, I rest my case.
Won't advise you any further seeing that you are very experienced yourself.

Anyway it does not concern me as I don't buy houses and rebuild.
It is out of my scope.

[lifeline]

Sometime I am amazed by how the brains of people really work, hahaha...

If you take the time & effort to dig out all these, highlighting & presenting, then at least understand what you are advising la...:doh:

Don't have to calculate, anyone can see that it simply doesn't make sense, hahaha.



dear Secretariat, be more gentle la. sister buttercup is just trying to share the nuggets of info that she has. nuggets being nuggets are just that, hoping that they can trigger more response from more people, so that we can all learn and avoid pitfalls.

cos she offered that info, and you shared further, then we know more about the fair intent of iras in adminstering the property tax. now we all also know that you are a savvy private developer. :D

thanks for all your sharings and hope you appreciate our feedbacks to your survey too ! :D

[Secretariat]

dear Secretariat, be more gentle la. sister buttercup is just trying to share the nuggets of info that she has. nuggets being nuggets are just that, hoping that they can trigger more response from more people, so that we can all learn and avoid pitfalls.

cos she offered that info, and you shared further, then we know more about the fair intent of iras in adminstering the property tax. now we all also know that you are a savvy private developer. :D

thanks for all your sharings and hope you appreciate our feedbacks to your survey too ! :D

Bro,

I fully understand where you are coming from, and appreciate all feedbacks.

This is the last time that I will talk about Butterycarp, and being better informed of what she is, I will avoid the dialogue. I am certain that she felt the same about me, as she just expressed.

Tax was not being discussed at all, until she proclaimed that there is this big tax liability for house rebuilding, and it grows exponentially. Someone with an intention to rebuild his old house, can well be alarmed and abandoned his plan.

So, it is garbage and anyone with knowledge is obliged to correct the misinformation for the readers. I gained nothing at all coming into this forum, sharing, and nor do I have a motive in participation.

Sharing is fine, but don't do so without a sureness of what you are saying, in public as in private.

[buttercarp]

dear Secretariat, be more gentle la. sister buttercup is just trying to share the nuggets of info that she has. nuggets being nuggets are just that, hoping that they can trigger more response from more people, so that we can all learn and avoid pitfalls.

cos she offered that info, and you shared further, then we know more about the fair intent of iras in adminstering the property tax. now we all also know that you are a savvy private developer. :D

thanks for all your sharings and hope you appreciate our feedbacks to your survey too ! :D


Lifeline has made my day again :) .

@ secretariat.....yes different people think differently.
Eg your user name, instead of thinking it as an admin position, I think of it as a secretary bird :D .

[DC33_2008]

I have even asked the developer via my lawyer to reimburse for part of the property tax as I have received my keys to the unit some time later after the project TOP. Things can be done if you go by book here.

[roly8]

Burning question i have is what happen after 99 years.. Govt take back the land?

Have seen so many run down leasehold landed ppty with less than 50 year lease, some like 30 years left.. Condition really dated..

I will buy smaller freehold or pay a little more for it. I own the land retain the value and can rebuild.. Neighbours do that too so overall the estate get rejuvenated over time.

so true..

the whole terrace look so cui after 30 yr