When the pandemic hits, many newlyweds started to sweat as they wonder: When will our Built-To-Order (BTO) flat be completed?
From the initial waiting time of at least four years to the announcement of BTOs taking at least five years to complete, multi-generational homes started to look like a feasible choice for some families.
If you’re a newlywed that bought this specific BTO in Punggol, we have some good news for you.
HDB Reportedly Compensating Punggol BTO Flat Buyers as Delay is Over a Year
Buyers of the Punggol BTO project, Waterway Sunrise II, will be compensated as the BTO’s completion date was delayed for over a year.
The amount these owners will be reimbursed ranges from S$700 to S$10,500 depending on two conditions:
- The selling price of the flat
- Length of delay beyond the delivery possession date (DPD)
The reimbursement is a one-off payment and buyers do not need to submit any claims for costs. Buyers will receive the payment two months after they’ve collected their keys.
First-time buyers can also apply for temporary housing under the Parenthood Provisional Housing Scheme if they are unable to find alternative temporary housing arrangements.
HDB will also consider waiving the forfeiture fees and one-year wait-out period for buyers who decide to cancel their bookings to buy a resale flat instead.
Eventually, these owners will still get the flat but instead of getting it between the initial projected date of the first and second quarter of 2021, they will be getting it between the fourth quarter of 2022 to the first quarter of 2023.
This takes the waiting time to five and a half years, longer than the average waiting time of four to five years.
In total, 1,014 units in seven blocks will be affected. This is the only project among the 94 ongoing BTO projects that was delayed over a year.
Why Was This BTO Delayed for Over A Year?
The obvious answer is the pandemic. With circuit breakers and lockdowns happening in Singapore, construction has to come to a halt, putting everyone’s lives on hold.
Border controls also disrupted the materials and additional manpower from coming into Singapore.
Additionally, HDB changed contractors for the Waterway Sunrise II BTO midway through the project from Lian Ho Lee Construction to Expand Construction due to the previous contractor’s poor performance and subsequent failure.
You can watch this video to the end to know more about BTO in Singapore:
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