The Garden Residences Showflat Location & Address
The Garden Residences exact location will be located along Serangoon North Avenue 1 Singapore.
Things You Need Prepare Before Visiting The Garden Residences ShowFlat
After you understand how much The Garden Residences will be priced, but before you visit the upcoming condo showsuites gallery, there are certain things that must be studied and considered before a decision is taken.
To break it down into understandable factors, the following are what must be considered:
- The CPF available
- The amount banks are willing to loan you
- The ABSD category you fall into
- To understand Balloting system and the concepts of Normal Progressive Payment Scheme
MONETARY CONSIDERATION FOR THE GARDEN RESIDENCES CONDO PURCHASE
Acquiring a loan approval-in-principle is the most important task to get done before buying a property. This is given importance due to the fact that this will highlight the property budget you can set aside for a purchase.
Once a request has been filed, the bank takes three days to process it. The request is free of charge.
The following documents are required:
- Copy of NRIC or the passports of all purchaser
- The latest Credit Card Statements
- Application form
- Declaration form of all credit facilities
- HDB status as shown on HDB page
- Pay slips of last three months
- CPF contribution of the last 12 months
- Latest 1 year of IRAS Tax Assessment Return
YOUR ABSD BRACKET
Your Additional Buyer Stamp Duty (ABSD) bracket is one of the most important things to determine when buying The Garden Residences By Wing Tai.
People holding Singaporean nationality can buy the first property tax free while the second and the thirds are taxed 7% and 10% respectively.
Permanent Residents are charged 5% and are taxed 10% of the property transacted price.
Foreigners and Entities are taxed 15% of the price on each property .
NORMAL PROGRESSIVE PAYMENT SCHEME
The NPS is the standard payment method related to real estate. Understanding all the steps involved in this process is highly important. They are:
- To obtain Option to Purchase a payment of 5% of the project amount has to be paid to the developer.
- The Sales and Purchasing Agreement will be sent to your address in two weeks.
- You are given three weeks’ time to exercise the contract to your solicitor’s office. Failure to do so shall result in 75% of the Initial option Fee paid being refunded to your account.
- Once the agreement has been exercised, the Stamp Duty and the ABSD will be payable within 14 days.
- The final 15% of the down payment must be paid within 8 weeks of the initial OTP date.
THE BALLOTING PROCESS FOR THE GARDEN RESIDENCES CONDO
To understand the prices and size of the properties, you are given a two week preview period. You can reserve a non-obligatory seat at the lunch table on the launch day.
To register for the balloting process, the following documents are required:
- The copy of the NRIC of the registrant
- An Expression of Interest (EOI) form filled and signed
- A cheque addressed to the developer project account
If you decide to not purchase The Garden Residences By Keppel Land, the full set of documents are returned to you in two weeks.