Payment Scheme
Learn about the progressive payment schedule for your UPPERHOUSE at Orchard Boulevard purchase, from booking to completion.
Payment Scheme
UPPERHOUSE at Orchard Boulevard uses the Normal Payment Scheme (NPS), also known as the Progressive Payment Scheme, which follows the standard regulated payment schedule.
Normal Payment Scheme (NPS)
- •Standard option regulated by the Building and Construction Authority
- •Follows the regulated progressive payment schedule based on construction milestones
- •Payments made in stages as the property is being built
- •Allows for home loan financing via monthly installments
Normal Payment Scheme (NPS)
Also known as Progressive Payment Scheme, allows you to service your loan via monthly instalments progressively stage by stage as the property is being built.
| Stage | Payment Under a Standard Payment Scheme (% of Purchase Price) |
|---|---|
Upon the grant of Option to Purchase | 5% (Booking Fee) |
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date | 20% less Booking Fee |
Completion of foundation work | 10% |
Completion of reinforced concrete framework of unit | 10% |
Completion of partition walls of unit | 5% |
Completion of roofing/ceiling of unit | 5% |
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit | 5% |
Completion of car park, roads and drains serving the housing project | 5% |
Notice of Vacant Possession (TOP) | 5% |
On Completion date | 5% |
| Total | 100% |