Asked by kenny lau
May i know if Coco Palms are hit by QC/ABSD?
709 views
2 Answers
Hi Kenny,
I had briefly explain ABSD & QC earlier. You have to understand when ABSD & QC implemented.
ABSD &/or QC
(a) From late 2011, the ABSD rule is developer has to develop & sell off all unit within 5 years from the day they bought the land.
Failing this, developers are to pay ABSD of 10% on purchase price of the site.
For sites bought on & from 12 Jan 2013 onwards, they have to incur higher ABSD of 15%.
** CDL/Hong Leong bought this land in 2008, thus does not falls into any of the category.
(b) Qualifying Certificate (QC): Extension charges Pro-rated charges based on no. of unsold units.
This only affects foreign property developers.
(i) A site must be developed & completed within 5 yrs after bought.
(ii) All units have to be 100% sold within 2 years after completion.
Max Extension is 3 years:
1st yr: 8% of land purchase price
2nd yr: 16% of land purchase price
3rd yr: 24% of land purchase price
**Again Coco-Palms developer also not affected by this.
Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More
I had briefly explain ABSD & QC earlier. You have to understand when ABSD & QC implemented.
ABSD &/or QC
(a) From late 2011, the ABSD rule is developer has to develop & sell off all unit within 5 years from the day they bought the land.
Failing this, developers are to pay ABSD of 10% on purchase price of the site.
For sites bought on & from 12 Jan 2013 onwards, they have to incur higher ABSD of 15%.
** CDL/Hong Leong bought this land in 2008, thus does not falls into any of the category.
(b) Qualifying Certificate (QC): Extension charges Pro-rated charges based on no. of unsold units.
This only affects foreign property developers.
(i) A site must be developed & completed within 5 yrs after bought.
(ii) All units have to be 100% sold within 2 years after completion.
Max Extension is 3 years:
1st yr: 8% of land purchase price
2nd yr: 16% of land purchase price
3rd yr: 24% of land purchase price
**Again Coco-Palms developer also not affected by this.
Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More
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KLkenny lauRepliedThanks Mr Ling. Your explanation is very clear and concise. I will keep your number in my hp, and certainly keep you in mind should I need any of your service.
Dear Kenny
Hope that your queries has been addressed by the colleague. if not feel free to give me a call for a discussion.
As for now, Coco palms @ Pasir Ris Grove Road is left with *** LAST 15 UNITS ***
4 Bedroom (1259 Sqft) from $1,595,700
5 Bedroom (1744 Sqft) from $2,112,480
Last Penthouse (2325 Sqft) @ $2,682,720
Do let me know if you are keen for site visiting. Thank you!
Warmest Regards
Thea
81255537 Read More
Hope that your queries has been addressed by the colleague. if not feel free to give me a call for a discussion.
As for now, Coco palms @ Pasir Ris Grove Road is left with *** LAST 15 UNITS ***
4 Bedroom (1259 Sqft) from $1,595,700
5 Bedroom (1744 Sqft) from $2,112,480
Last Penthouse (2325 Sqft) @ $2,682,720
Do let me know if you are keen for site visiting. Thank you!
Warmest Regards
Thea
81255537 Read More