Lush Acres EC Eligibility Guide

On July 6, 2013, in Lush Acres EC, by Admin

Lush Acres HDB Eligibility Conditions

As Lush Acres is an Executive condominium, you must meet HDB’s eligibility conditions in order to buy a unit. If you need help to assess your eligibility, please send your query via the Contact Form.

Source: HDB website (www.hdb.gov.sg) EC Eligibility Criteria

Citizenship
  • Main applicant must be a Singapore Citizen
  • Family nucleus in the application must have at least one other Singapore Citizen or Permanent Resident.
Age
  • All applicants must be at least 21 years old at time of applying for Lush Acres EC
  • If applying under the Joint Singles Scheme, both must be at least 35 years old
Family Nucleus

You must form a family nucleus under one of the schemes listed here:

  • Public Scheme
    You (the applicant) and;
    * Your spouse, and children (if any)
    * Your parents, and siblings (if any)
    * Your children under your legal custody (if you’re widowed or divorced)
  • Fiance/Fiancee Scheme
    You (the applicant) and your fiancee/fiance
  • Orphan Scheme
    You (the applicant) and;
    * Your unmarried brothers/sisters, or
    * Another single unrelated orphan
  • Joint Singles Scheme
    You (the applicant) and another single person
Income Ceiling
  • Your total monthly household income must not exceed SGD$12,000
Ownership of Private Property

You, your spouse, & any occupiers in this application, and their spouses, must not own or have disposed of, or have any part or interest in any other flat, house, building or land. #
* Within 30 months before the date of application, and
* Between the application date and the date of taking possession of Lush Acres EC.

# Includes but not limited to:
  . HUDC flats (Privatised and Non-Privatised)
  . Properties acquired by gift
  . Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act
  . Private properties
  . Properties owned/acquired/disposed through nominees regardless of properties location

Owners/Ex-owners of HDB flats / DBSS flats / EC units

Each eligible Singaporean household can buy the following housing unit only twice:

  • a flat from the HDB;
  • a resale flat with the CPF Housing Grant #;
  • a DBSS flat from developer;
  • an EC unit from developer.

# Only applicable for first-timer applicants

If you have already bought two such housing units, you will not be eligible to apply or be listed as an essential occupier in any application for this Sengkang EC.

Definition of First-timer Applicants

You and the essential family members listed in the application for purchase of the flat must NOT:

  • Own a flat bought direct from HDB, a DBSS flat or an Executive Condominium from developer
  • Have sold a flat bought direct from HDB, a DBSS flat or an EC bought from the developer
  • Have received the CPF Housing Grant for the purchase of an HDB resale flat
  • Have taken other forms of housing subsidy (e.g. SERS, privatisation of HUDC estate, etc)

70% of Lush Acres units will be set aside for first-timers during the initial launch period.

Definition of Second-timer Applicants

You or essential family members in your application have owned/sold or are currently owners of:

  • Any HDB flat that was bought from HDB, or
  • Any resale flat that was bought under the CPF Housing Grant Scheme, or
  • A DBSS flat or an EC bought from the developer, or
  • Have enjoyed other forms of housing subsidy (e.g. SERS, privatisation of HUDC estate, etc.)

Second-timers are not required to pay a Resale Levy

Existing Owner or Ex-Owner

Are you, your spouse or any of the essential occupiers listed in the application an existing owner or ex-owner of a:
* Flat bought directly from HDB
* DBSS flat bought from the developers
* Resale flat bought under the CPF Housing Grant Scheme

If you belong to any of the above categories, you may apply to buy Lush Acres EC on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the #date of taking possession of the flat to the date of application for the new Sengkang EC.

# The date of taking possession refers to following dates (whichever is applicable):
  . Date of key collection, for flats that are bought direct from HDB
  . Date of resale completion, for resale flats from open market bought with CPF Housing Grant
  . Date of transfer at market value of the flat bought with CPF Housing Grant
  . Date of key collection for EC/DBSS flats bought from the developer

Ex-owners of an EC

Are you, your spouse or any of the essential occupiers listed in the application an ex-owner of an Executive Condominium bought directly from the developer? If yes, you would need to meet a 5-year period from the date of taking possession of the earlier Executive Condominium.

30-Month Period
In addition, you need to wait out a 30-month period from the effective date of disposal (i.e., date of legal completion of the sale of their Executive Condominium, evidenced by the Notice of Transfer or such other documentary evidence as HDB may require) of the Executive Condominium before you can apply to buy Lush Acres EC.

Essential Occupiers

You or any person listed the application must not be currently listed as an essential occupier of:
* An existing HDB flat bought directly from HDB,
* A DBSS flat bought under the CPF Housing Grant Scheme, or,
* A resale flat bought under the CPF Housing Grant Scheme

However, an essential occupier may apply or be included in an application only if he has stayed in the existing flat for 5 years from the #date of taking possession of the existing flat to the date of application for this Sengkang EC.

# The date of taking possession refers to:
  . The date of key collection, for flats that are bought directly from HDB
  . The date of resale completion, for resale flats from open market bought with CPF Housing Grant
  . The date of transfer at market value of the flat bought with CPF Housing Grant
  . The date of key collection for EC/DBSS flats bought from developer, whichever is applicable.

New flat buyers who cancelled their applications after booking a flat

If you book a flat from the March 2012 Build-To-Order and Sale of Balance Flats Exercises onwards and subsequently cancel the flat booking, you will have to meet a 1-year period from the date of cancellation before you can apply or included as an essential occupier in an application for a:

  • new HDB flat
  • DBSS flat from developers
  • Executive Condominium unit from the developers
  • resale flat with CPF Housing Grant
  • resale flat that has been announced for SERS
Divorcees

Within three years from the date of the divorce, only one party in the divorce can own one of the following housing units:

  • a flat bought directly from the HDB
  • a DBSS flat / EC bought directly from a private developer
  • a resale flat bought from open market under the CPF Housing Grant Scheme

If you have an existing matrimonial home, which is one of the above, and that home is retained by your ex-spouse, you may apply to buy or be listed as an essential occupier in any of the above housing unit only three years after your date of divorce.

However, this three-year wait out period will not apply if you are buying any of the above homes with your parents or a new spouse, or if you are buying a resale flat from the open market without the CPF Housing Grant.

If there is no matrimonial home or the matrimonial home was bought from the open market without any CPF Housing Grant, you may apply for any of the above housing units after you get your ex-spouse’s consent not to own or be listed as an essential occupier in any of the above housing units within the three-year period from the date of divorce.

The requirement for ex-spouse’s consent is waived if you are buying any of the above housing units with your parents or a new spouse or if you are buying a resale flat from the open market without the CPF Housing Grant.

The requirement to seek ex-spouse’s consent during the three-year period from the date of divorce is also waived if you meet the following conditions:

  • All your children are below 18 years old at the date of divorce; and
  • You have the legal custody of all your children and are also the only parent with the care and control of all your children.
Person Who Has Bought an EC/DBSS Flat with CPF Housing Grant

A person who bought an EC or DBSS flat with CPF Housing Grant and terminated the Sale and Purchase Agreement may apply to buy Lush Acres EC.

However, this is allowed on the condition that a 5-year period has lapsed from the termination date of the Sale & Purchase Agreement of the earlier EC or DBSS flat purchase, to the date of application for the EC.

::

Conditions after Purchase of Lush Acres EC
Selling of current HDB / DBSS flat in the open market

If you currently own an HDB / DBSS flat, you and/or your spouse must dispose of the flat within 6 months from the date of issuance of the Temporary Occupation Permit in respect of this Sengkang EC.

If you intend to apply to purchase Lush Acres EC where the Temporary Occupation Permit for the EC has been issued, you will be required to dispose of your existing HDB / DBSS flat within 6 months from the date the Developer sends you the Notice of Vacant Possession.

Enjoyment of Subsidy

You and your spouse will be considered as having enjoyed a housing subsidy when you buy a Lush Acres executive condo unit from the developers under the CPF Housing Grant Scheme.

Minimum Occupation Period (MOP)

Sale of Lush Acres Executive Condo
You have to occupy your Sengkang EC for at least 5 years before you can sell it on the open market.

Essential occupiers in Lush Acres Executive Condominium
Occupiers who are essential in forming a family nucleus with you in the EC application must continue to be listed in the application and stay in the EC during the 5-year minimum occupation period.

They cannot make a separate application, or be listed as occupiers in another application to buy an HDB flat or another EC within the MOP.

Buying another subsidised housing

If you sell your Sengkang EC unit in the open market, you must wait for 30 months after the sale before you can submit an application to buy:
* a new flat from HDB
* an apartment under Design, Build and Sell Scheme (DBSS) from developers
* another EC from developers

Resale Levy

You are liable to pay a resale levy of $55,000 when you buy a second subsidised flat from HDB or take over ownership of a subsidised HDB flat after selling Lush Acres EC if you bought it under the CPF Housing Grant Scheme (after meeting the 5-year Minimum Occupation Period (MOP) and the 30-month period).

If you do not intend to buy a second subsidised flat from HDB, for example, if you are buying a resale flat, a new DBSS flat, an EC from the developer, or a private residential property, you need not pay the resale levy.

Interest in Private Property

You cannot invest in private residential property during the 5-year minimum occupation period.

Source: HDB web site

 

Comments are closed.