ECO at Bedok South near Tanah Merah MRT (FEO)

[price]

who's going for real?

[dtrax]

who's going for real?

need a name list first then can print nametags
Kindly indicate username, font size n font color
i.e Basically | Red | 50px

[price]

need a name list first then can print nametags
Kindly indicate username, font size n font color
i.e Basically | Red | 50px

haha u collate k?

Price

[dtrax]

haha u collate k?

Price

no need collate, post here can riaox so everyone will know who is going.
U start the ball rolling

[graveyard]

Whether you are Madam Soh or not makes no difference lah.

As long as we all come here to have fun and share what we know here, it is good enough.

To all bros and sis...... let's stop speculating, otherwise we will scare Laguna
away.

But I must say Madam Soh is so powerful.
Usually ladies are not into property.
To think she got guts to invest in so many properties.

Let me introduce you to Madam Lai!
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Investor gets $442,680 cut in stamp duty Lower stamp duty on separate contracts
Judge says block buy should be treated as 83 separate ones

Published on Aug 11, 2011



Madam Lily Lai paid about $226 million for all 83 units of Tower 1A at Reflections at Keppel Bay in 2007, but took the case to court after receiving the bill from the Commissioner of Stamp Duties. -- ST PHOTO: RAJ NADARAJAN


BACKGROUND STORY

Lower stamp duty on separate contracts

$226,472,460
Purchase price for all 83 units of Tower 1A at Reflections at Keppel Bay

$6,788,775
Stamp duty bill for the purchase, based on a single contract

Madam Lily Lai said her purchase should be treated as 83 separate contracts and not just one.
The rate of stamp duty is lower on the first $360,000 of every purchase, meaning she would save $5,400 on each one.



AN INVESTOR who paid about $226 million for a whole tower block at Keppel Bay has been given a $442,680 discount on her stamp duty following a landmark High Court judgment.

Madam Lily Lai, in her 50s, had appealed against her $6,788,775 bill, arguing that her purchase should be treated not as a single contract but as 83 separate ones. This worked out cheaper because the rate of stamp duty is lower on the first $360,000 of every purchase, meaning she saved $5,400 each time.

Justice Choo Han Teck reversed the taxman's ruling in what industry players see as a test case which could set a precedent for other buyers.

Madam Lai was born in Taiwan but is now a Singapore citizen. She is said to be a low-profile real estate investor who is interested in long-term developments.

It is understood that she first caught sight of the development, called Reflections at Keppel Bay, while she was returning from a trip to Batam. She decided to invest in an entire tower block because a Buddhist shifu, or master, told her that the condo, which is 'backed by a mountain and faces water', has good fengshui, said a close friend of Madam Lai. The friend, who did not want to be named, told The Straits Times: 'We had just driven past a banner advertising the property and decided to take a look. After bringing shifu there, we decided that it was a good investment.'

Madam Lai paid $226,472,460 for all 83 units of Tower 1A in 2007, but took the case to court after receiving the bill from the Commissioner of Stamp Duties.

The Inland Revenue Authority of Singapore's (Iras) lawyers Foo Hui Min and Patrick Nai argued that correspondence between Madam Lai and the developers before the sale pointed to a single contract on which the stamp duty bill should be based. But Madam Lai, represented by lawyers Ong Sim Ho and Amolat Singh, said there was no understanding that there would be a single contract.

Justice Choo found that Madam Lai had 'offered persuasive and bona fide commercial reasons for structuring the bargain in that manner'.

Madam Lai also confirmed in court documents that she would not have accepted a single sale and purchase agreement to buy all the units 'as a collective interest'.

'A single agreement would have constrained her ability to obtain financing from more than one financial institution,' said Justice Choo.

'She would also face difficulties in the event of the sub-sale of one or more of the units because the developer would have to cancel the sale and purchase agreement and re-issue her with fresh sale and purchase agreements.'

Justice Choo also rejected the Commissioner's reliance on a circular issued by the Iras on March 13, 2008.

This said that when it came to stamp duty, block property purchases should be treated as having a single purchase price. This would prevent block buyers taking advantage of the tax scheme by treating the purchase as single units.

But Justice Choo said that the circular was irrelevant as it was published after the case had arisen. The judge held that there 'cannot be uniform treatment of all block purchases'. He said the taxman must treat each case separately.

Mr Ong said the move could have important implications. He added: 'The official Iras circular insisting on stamping 'block purchases' as a single block appears now not to be valid as the court rightly ruled that each case must be looked at based on its own facts.'

An Iras spokesman said yesterday: 'We are reviewing the grounds of decision by Judge Choo Han Teck before deciding on the next course of action.'

Madam Lai's friend said the units will be marketed and sold by Leadway Property, which also operates from and owns an 18th-floor office space at The Central Mall. According to the friend, Madam Lai spends most of her time overseas.

When The Straits Times visited a four-room flat in Clementi - Madam Lai's last known registered address - a woman who answered the door said there is no such person living there.

[radha08]

Retiree Soh Poh Neo, 56, said she bought a 1,152 sq ft three-bedder for $1.37 million, or $1,188 psf, as an investment for her son.

Madam Soh found the location in Bedok South Avenue 3, the reasonable pricing and the nature-inspired concept of eCO, such as its 100m-long boardwalk through conservation trees, appealing.

[price]

Let me introduce you to Madam Lai!

bro visiting ECo?

[graveyard]

bro visiting ECo?

No bro. No more bullets but i love tanah merah!!


So you celerating mooncake festivals with the bros and siss here tmr at eco showroom? heee

[yjcai]

what duh fark

[carbuncle]

mdm lai this type will not wash her money on eco calibre one la

[gadiny]

Price list (before discount) out per

http://www.fareast.com.sg/en/Residen...ilability.aspx

[graveyard]

mdm lai this type will not wash her money on eco calibre one la

i think she can buy up the entire eco project !

[4wheels]

anyone here has the floorplan?

[phantom_opera]

Price list (before discount) out per

http://www.fareast.com.sg/en/Residen...ilability.aspx

wow, 12-46 1br 549sqft super west sun + road noise list price is 837,170

even after 15% discount it came to 7xxk ... so 737k minimum is true

and seems like 1br suites stack low floors mostly sold

[graveyard]

wow, 12-46 1br 549sqft super west sun + road noise list price is 837,170

even after 15% discount it came to 7xxk ... so 737k minimum is true

and seems like 1br suites stack low floors mostly sold

So ex??? it was advertised at 660K on propertyguru. Or did $ increase

http://www.propertyguru.com.sg/listi...8/for-sale-eco

[phantom_opera]

So ex??? it was advertised at 660K on propertyguru. Or did $ increase

http://www.propertyguru.com.sg/listi...8/for-sale-eco

Possible 660k because max discount mentioned was 18% but u must have owned far east property, stay near by etc to achieve maximum discount

take the super lousy west sun unit list price at 800k on stack 46 lowest floor.. 18% will be around 660k

after that 4% discount no more + all lower floors sold, so now price of 1br starting at 745k

and they released all the lousy 1brs first ... the best stack 55 seems to be kept for future 8xxk stunt

[phantom_opera]

#12-48 1+S 603sqft list price is 987,xxx

after 14% discount is 850k (1400psf)

07-43 super west sun is about 750k if 14% disc ... lower floors all gone

[graveyard]

Possible 660k because max discount mentioned was 18% but u must have owned far east property, stay near by etc to achieve maximum discount

take the super lousy west sun unit list price at 800k on stack 46 lowest floor.. 18% will be around 660k

after that 4% discount no more + all lower floors sold, so now price of 1br starting at 745k

and they released all the lousy 1brs first ... the best stack 55 seems to be kept for future 8xxk stunt

A typical FEO strategy? The ad is out .. I SEE YOUR TRUE COLOR, ECO

[Lovelle]

tink they set another record of 1000sqft for 3 bedders...

[carbuncle]

for normal non customer buyer is not cheap at all....

[phantom_opera]

OMG stack 46 549sqft has a study room ... it is 1+S

it explains why all 7xxk

[leesg123]

Is this another freehold land, but FEO holding on to the freehold title and rent the condo 99yrs to tenants, opps, buyers?

This kind of pricing, better get fh properties in that area.

[kane]

eCO sits on freehold land held by FEO?

[bakasa2002]

No, it's LH99. FEO didn't get it FH. Tendered late 2011/early 2012. Chk ura if u need confirmation. Another giveaway is its too near mrt to be FH. Even Bedok Court 20+ yrs ago is LH.

[bakasa2002]

So after 2 days of hot sales, did we see 50% of the proj sold?

Looking at this picture update on Day 1, it looks really HOT! - http://ecocondo.com.sg/

[phantom_opera]

stack 45,46,47,48,49 are very popular ... nowadays ppl like west suns ah

[leesg123]

stack 45,46,47,48,49 are very popular ... nowadays ppl like west suns ah

as usual, it is a quantum game. pay lower, gain more. west sun no big deal now cos so many ways of preventing heat from coming in, eg window film getting more advanced.

[bakasa2002]

stack 45,46,47,48,49 are very popular ... nowadays ppl like west suns ah

Wah .... I don't understand man. West sun is a killer for me, I think maybe these are investors looking for tenant who couldn't care less.

[bakasa2002]

I see they have this 'White Soho' sticker on some stacks, any FEO expert can decipher what that suppose to mean?

[bakasa2002]

eCO vertical green wall look alike?