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

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  • KL
    Thanks 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.
Thea Hoi Shu Min
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
 81255537  Read More