The Vanda Green is a development that has yet to be built, so a purchase follows the statutory Progressive Payment Scheme. Payment is made in stages as construction milestones are certified, rather than in one sum at the point of purchase.
The Vanda Green Progressive Payment Schedule
| Stage | % of price | Cumulative |
|---|---|---|
| Booking fee, on grant of Option to Purchase | 5% | 5% |
| Signing of Sale & Purchase Agreement, within 8 weeks of the Option | 15% | 20% |
| Completion of foundation work | 10% | 30% |
| Completion of reinforced concrete framework | 10% | 40% |
| Completion of partition walls | 5% | 45% |
| Completion of roofing and ceiling | 5% | 50% |
| Completion of electrical wiring, plumbing, internal plastering | 5% | 55% |
| Completion of car parks, roads and drains serving the development | 5% | 60% |
| Notice of vacant possession (Temporary Occupation Permit) | 25% | 85% |
| On legal completion (Certificate of Statutory Completion) | 15% | 100% |
Statutory Progressive Payment Scheme under the Housing Developers Rules. The schedule is standard across developments; the timing of each stage depends on construction progress and is not fixed in advance.
How the Schedule Works in Practice at The Vanda Green
The first 5 per cent is the booking fee, paid in cash on the grant of the Option to Purchase. The next 15 per cent falls due on signing the Sale and Purchase Agreement, which happens within eight weeks of the Option. Together those make up the 20 per cent downpayment, of which the first 5 per cent must be cash and the balance may draw on CPF Ordinary Account savings subject to the usual rules.
From the foundation stage onward, the bank disburses against each certified milestone. Your loan is drawn down progressively rather than in full at the start, which means your monthly instalment begins small and rises as construction proceeds. That is the main cash-flow advantage of buying under construction, and it is worth modelling before committing.
Stamp Duty Timing Alongside The Vanda Green Instalments
Buyer's Stamp Duty, and Additional Buyer's Stamp Duty where it applies, fall due within 14 days of signing the Sale and Purchase Agreement — early in the schedule, when only 20 per cent of the price has been paid. Buyers routinely underestimate this. The full rate tables are on the stamp duty page.
Financing Against the Schedule at The Vanda Green
Because disbursement is staged, the interest you pay during construction is on the drawn balance only. Banks assess the loan against the full purchase price at the outset, however, so your borrowing capacity is tested on the whole sum rather than the first instalment. The loan-to-value limits and the Total Debt Servicing Ratio framework are set out on the housing loan page.
The expected date of Temporary Occupation Permit has not been announced for this development. When the developer issues it, it appears on the project details page, and it is the figure that determines how long the staged schedule actually runs.
The progressive payment calculator applies this schedule to a price you choose, showing the disbursement and the monthly instalment at each stage.
This page describes the statutory scheme as general information, not financial advice. Confirm the schedule in your Sale and Purchase Agreement and with your bank and conveyancing lawyer.