HDB has launched 3,995 new flats for sale today under the February 2015 Build-To-Order (BTO) exercise.
These flats are spread across five projects located in the non-mature towns of Bukit Batok and Hougang, and the mature town of Geylang.
The flats comprise Studio Apartments (SAs), two to five-room flats, as well as Three-Generation (3Gen) flats.
Up to 15 percent of the SAs, two- and three-room flats in a BTO project (subject to a minimum of 20 units each) will be set aside for parents applying under te Multi-Generation Priority Scheme (MGPS).
The same number of two-room and bigger flats will be set aside in the same BTO project for their married children.
For the first time, couples who want to live with their parent can apply for a 3Gen flat in Bukit Batok under this exercise at West Rock @ Bukit Batok.
Besides the BTO flats, two of the projects, Buangkok ParkVista and West Edge @ Bukit Batok will each have one block of rental flats.
From this sales exercise onwards, flat applicants who intend to take out an HDB housing loan will also need to produce a valid HDB Loan Eligibility (HLE) letter at the point of booking a flat. “This move to bring forward the HLE requirement seeks to help flat buyers better plan their finances and flat purchase. It will minimise any disappointment should they be unable to obtain sufficient loan to proceed with the flat purchase subsequently, resulting in cancellation of their flat application and forfeiture of the option fee paid,” HDB said in a statement.
Previously, they only needed to produce the HLE letter when they sign the Agreement for Lease, which is four months after booking a flat.
The February 2015 BTO exercise is the first batch of the 16,900 BTO flats that HDB plans to release in 2015.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email email@example.com