|Construction Stage||Percentage of Purchase Price|
|Upon Issue of Option to Purchase (OTP)||5%|
|Upon signing Agreement / Within 8 weeks immediately after date of Option||20% (Less the 5% Booking Fee which was paid above)|
|Upon Completion of Foundation Work||10%|
|Upon Completion of Reinforced Concrete Framework||10%|
|Upon Completion of Partition Walls||5%|
|Upon Completion of Roofing||5%|
|Upon Completion of Door sub-frames / door frames, window frames, electrical wiring (without fittings), internal plastering and plumbing||5%|
|Upon Completion Car park, roads and drains serving the housing project||5%|
|Upon Completion Building, roads and drainage and sewerage works in the housing estate, connection of water, electricity and gas supplies
(At this stage the Temporary Occupation Permit is typically released, meaning you can pick up your keys and move in)
|Final Payment Date and/or Completion (might be staggered further depending on when the Certificate of Statutory Completion is issued)||15%|
Progressive Payment Schedule For Senja Residences EC at Senja Close
A Progressive Payment Schedule is a method of payment in which buyers pay for Senja Residences EC home in steps. The payment plan divides the total amount into several stages: the down payment, the reinforced concrete framework, and the foundation. Initially, buyers only pay a small amount each month; they then resume monthly payments after the foundation is complete. This way, they will gradually pay off the full amount of the property. However, a Progressive Payment Schedule can cause delays in the payments, especially when construction is delayed.
In a Progressive Payment Schedule, Senja Residences EC buyer pays the developer based on the progress of the construction. The progressive payment is due after the buyer has passed the 15% Stamp Duty amount to the lawyer. The remaining 5% is paid by the buyer in cash, CPF, or a home loan. The bank will cover 75% of the loan. Once the buyer takes vacant possession, he or she will begin paying instalments based on the amount disbursed to the developer.
More information on Senja Close EC
Senja Close EC information on the site plan and floor plans for the development will be available soon. Please also see the gallery as well as the video and e-brochure which will be uploaded here soon.
Disclaimer: The information listed above are strictly for your reference only and is by no means a conclusive and final representation of the units available. The chart is currently draft and is subjected to the final approval from the authorities. The developer and the salesperson is not responsible for the information reflected above and the information is strictly for entertainment purposes only. Please check with the direct developer sales team for more information for a more accurate representation. You can also register for a show flat viewing to get a better representation for the development for your consideration. Information on the elevation chart as well as the balance unit chart can be found here as well as at the showflat.
For financing, please see more info on the stamp duty as well as progressive payment schedule of the development. The prevailing loan information and criteria of other websites can be found here.