The Canopy Executive Condo

Posted on October 13, 2010

The Canopy at Yishun

© SGLivingPod

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Eligibility Conditions

Citizenship

You must be a Singapore Citizen

Your family nucleus must comprise at least another Singapore Citizen or Singapore Permanent Resident.

Read more about Promoting Citizenship in HDB Households

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Age

You must be at least 21 years old at the time of application

If you are buying an Executive Condominium (EC) under the Joint Singles Scheme, you must be at least 35 years old

Family Nucleus

You must form a proper family nucleus under one of the following schemes:

Type of Scheme Family Nucleus Requirement

Public You, the applicant and;

Your spouse, and children (if any)

Your parents, and siblings (if any)

Your children under your legal custody, care and control (for widowed/ divorced)

Fiancé/Fiancée

Additional Information You, the applicant and your fiancé/fiancée

Orphan

Additional Information You, the applicant and;

Your unmarried siblings, or

Another single unrelated orphan

Joint Singles

Additional Information You, the applicant and another single person

Income Ceiling

Your gross monthly household income must not exceed $10,000

Ownership in Private Property

You, your spouse, any occupiers listed in the Application Form or their spouses must not own or dispose or have an estate or interest in any other flat, house, building or land*

Within 30 months before the date of application, and Between the application date and the date of taking possession of the EC  includes but not limited to:

HUDC flats (Privatised and Non-Privatised)

Properties acquired by gift

Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act

Private properties

Properties owned/acquired/disposed through nominees regardless of properties location

Owners/Ex-owners of HDB flats / DBSS flats / EC units

First-timer Applicants

You and the essential family members listed in the application for purchase of the flat must not:

Be the owners of a flat bought direct from HDB, a DBSS flat or an Executive Condominium bought from the developer

Have sold a flat bought direct from HDB, a DBSS flat or an Executive Condominium bought from the developer

Have received the CPF Housing Grant for the purchase of an HDB resale flat

Have enjoyed other forms of housing subsidy (for example, enjoyed benefits under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc)

Higher Quota of the EC Supply for First-time Applicants during Initial Launch Period

The developers will set aside 95% of the supply for first-timers during the initial launch period.

Second-timer Applicants

You or the essential family members listed in your application have owned/sold or are currently owners of:

Any HDB flat that was bought from HDB, or

Any resale flat that was bought under the CPF Housing Grant Scheme, or

A DBSS flat or an EC bought from the developer, or

Have enjoyed other forms of housing subsidy (for example, enjoyed benefits under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc.)

Second-timers not required to Pay Resale Levy

The resale levy will not apply to new EC projects which are launched from 2009 onwards, after the La Casa.

Existing Owner or Ex-Owner

If you belong to any of the above categories, you may apply to buy an EC on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the *date of taking possession of the flat to the date of application for a new EC

The date of taking possession refers to following dates (whichever is applicable):

Ex-owners of an EC

Are you, your spouse or any of the essential occupiers listed in the application an ex-owner of an Executive Condominium bought directly from the developer? If yes, you would need to meet a 5-year period from the date of taking possession of the earlier Executive Condominium.

30-Month Period

In addition, you need to wait out a 30-month period from the effective date of disposal (i.e., date of legal completion of the sale of their Executive Condominium, evidenced by the Notice of Transfer or such other documentary evidence as HDB may require) of the Executive Condominium before you can apply to buy another Executive Condominium directly from the developer.

Essential Occupiers

However, this is possible only if he has stayed in the existing flat for 5 years from the *date of taking possession of the existing flat to the date of application for a new flat.

• The date of key collection, for flats that are bought directly from HDB
• The date of resale completion, for purchase of resale flats from the open market bought with the CPF Housing Grant
• The date of transfer at market value of the flat bought with CPF Housing Grant
• The date of key collection for Executive Condominium/DBSS flats bought from the developer, whichever is applicable.

Divorcees

A divorcee may apply to buy an HDB flat or be listed as an occupier after 5 years from the date the divorce is made absolute to the date of application for a new flat if his matrimonial flat was:

Bought directly from HDB,

A DBSS flat bought under the CPF Housing Grant Scheme, or

A resale flat bought from open market under the CPF Housing Grant Scheme

However, the 5 years period will not apply if:

The matrimonial flat was bought from the open market without any CPF Housing Grant

He is applying for the flat with his parents or new spouse

Person Who Has Bought an EC/DBSS Flat with CPF Housing Grant

A person who bought an EC or DBSS flat with CPF Housing Grant and terminated the Sale and Purchase Agreement may apply to buy an EC.

However, this is allowed on the condition that a 5-year period has lapsed from the termination date of the Sale & Purchase Agreement of their earlier EC or DBSS flat purchase, to the date of application date for an EC.

For More Information visit HDB

Click here to view …..The Canopy Showflat

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