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Dear all, I would like to check on the questions below;

1. If i were to own a HDB commercial property ( Shop house with living quarters) will i be eligible to purchase a HDB resale flat under single scheme ? (Given I’m above 35)


2. If I’m eligible to buy , will i be required to sell off my HDB commercial property after my resale HDB completion ?


3. Will i be still be eligible for single grant given my income is below the ceiling ?
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1 Answer

Taufik Hussein
Replied
Hi
1) For your first question, you have to check with HDB if the said shophouse is categorised as commercial or residential or both. If it is purely for commercial, you are eligible to purchase a resale under single scheme without needing to sell the shophouse.
2) As above.
3) You are eligible for singles frant and HDB loan providedyou only owned 1 commercial property and it is being used to for your own business purpose. In addition, could not derive any income from other sources. If you did not meet this requirement but want to take up a HDB loan or enjoy the Singles grant, you have to sell the commercial property first before buying a resale HDB. This requirement does not apply if you intent to take a bank loan and did not apply for any grants.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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