HDB offers 828 flats under two BTO projects

HDB is offering 828 flats under two new build-to-order (BTO) projects at Sengkang and Sembawang.

The 306-unit Sembawang RiverLodge in Sembawang and the 522-unit Fernvale Ridge in Sengkang are the first BTO projects to be launched after the government adjusted some public housing policies early this month.

Fernvale Ridge, bounded by Fernvale Link and Sengkang West Way, will be near the Layar, Fernvale and Thanggam LRT stations. It will have 126 five-room flats, 216 four-room flats and 180 three-room flats.

The selling price for a five-room flat will range from $281,000 to $352,000. The price of a comparable five-room resale flat within the area ranges from $415,000 to $461,000, according to HDB.

The other BTO project, Sembawang RiverLodge, is located at Sembawang Drive. The nearest MRT station is at Sembawang, where Sun Plaza is also situated. There will be 220 four-room flats and 86 three-room flats.

HDB added that the project is intended to house another 126 two-room flats, which will be reserved “to meet the housing needs of lower income families at a later date.”

At Sembawang RiverLodge, a four-room flat will cost $212,000 to $268,000. While the price of a comparable four-room resale flat nearby is $275,000 to $350,000.

Mohamed Ismail, chief executive officer of PropNex, expects both BTO projects to be popular and each could be oversubscribed by at least eight times. He said that its three-, four-, or five-room flats are suitable for young couples starting a family.

With Sungei Sembawang nearby and an estate featuring several amenities like supermarkets, the Sembawang RiverLodge project could truly stand out, as residents will experience “a taste of waterfront living,” he added.

Applications for the new BTO flats will close on March 29. HDB would have offered a total of 3,653 new flats under the BTO project in the first quarter of 2010 with these two projects. It also intends to release 1,200 BTO flats in Punggol by next month.

First-timer households with a permanent resident and Singapore citizen applying for flats will have to pay a premium of $10,000 on top of HDB's selling price. If the PR family member obtains citizenship, or if the couple has a child who is a citizen, the $10,000 premium will be refunded to them.