Hdb Upgrading Cost Payment

[davidbslee 1]

Hi everyone,

I would like to check that is it worth to pay upgrading cost all at a go OR it better to go for max installment plan payment. I will be using only CPF to make payment, Pls advice. Thank you.

[therat 18]

The installment is not interest-free.

I will go for pay all.

http://www.hdb.gov.sg/fi10/fi10328p.nsf/w/...#MonthlyPayment

Monthly Instalment

You can choose to pay by monthly instalments over 1 to 10 years. Flat Owners who sign instalment plan for payment of upgrading cost will have to pay the monthly upgrading cost instalment by CPF and/or GIRO. Interest will be charged for payment by monthly instalments.

http://www.hdb.gov.sg/fi10/fi10328p.nsf/w/...cument#Interest

Upgrading Cost Interest Rate

HDB concessionary interest rate

Singapore citizen households who opt to pay by instalments will be charged the HDB concessionary interest rate at 0.1 percentage point above the prevailing CPF interest rate.

[gimz63251073 0]

CPF ordinary account interest rates are higher for the first $20k (or is it $30k?)

might be better to pay by instalments. Though actual savings would be insignificant since amount payable is not a huge amount in the first place.

But by paying instalments it would mean having extra buffer in ordinary account will help to tide u over in tough times.

[Warrior88 0]

I heard this ridiculous rumours .....

Upgrading Vote - If

Yes - the bill will come very fast upon completion.

No - the bill will come later, can be 2 years later.

I also ponder whether real or not.... haha

[vinder79 0]

I heard this ridiculous rumours .....

Upgrading Vote - If

Yes - the bill will come very fast upon completion.

No - the bill will come later, can be 2 years later.

I also ponder whether real or not.... haha

I also believe this cause when i shifted to my new house my neighbours got theirs last year i only got it in March.Maybe ex-owners were not for the idea.But nvr mind la i paid it in 1 go cause it was only $700+.

[gimz63251073 0]

I heard this ridiculous rumours .....

Upgrading Vote - If

Yes - the bill will come very fast upon completion.

No - the bill will come later, can be 2 years later.

I also ponder whether real or not.... haha

then i hope my previous owner voted no for lift upgrading!

[Warrior88 0]

Maybe got cases resident refuse to pay, so they drag the payment date.

They hope the new owner will pay. Or, owner must pay before selling.

So, boh pian, then pay.

HDB TC don't want to show payment arrears ?

[therat 18]

Maybe got cases resident refuse to pay, so they drag the payment date.

They hope the new owner will pay. Or, owner must pay before selling.

So, boh pian, then pay.

HDB TC don't want to show payment arrears ?

from HDB

The lift upgrading cost is payable only when the upgrading works in the precinct are completed. Billing will only commence after the upgrading costs for the precinct is finalised and the flat owners' share of the upgrading cost is computed. The person who is the owner of the flat at the date of billing has to pay for the lift upgrading cost.

Interest and Late Payment Charge

1. Full payment must be received by HDB by the bill expiry date (i.e. within one month from the date the invoice is issued). Otherwise, monthly interest and late payment charges will be imposed based on the outstanding balance as at end of the month.

2. In addition to the late payment charges imposed, a $2 first month administrative charge is imposed for arrears owing one month or less.

3. Any payment received by HDB will first be used to settle the outstanding late payment charges. Any balance will then be applied towards the payment of the other outstanding charges

Change of Flat Ownership

http://www.hdb.gov.sg/fi10/fi10328p.nsf/w/...ip?OpenDocument

too long.. I don't want to copy and paste the whole thing here.

[therat 18]

basically the rule is simple.

you own cheng hu money, cannot run away one.

For lift upgrading, they will only bill you when the whole project is complete.

Est, the project is 10 block.

cannot be all the 10 block up the lift together.

There always has some first, some last.

Then vendor finish liao, hand over the HDB.

HDB should have ppl to check.

ding ding tong tong, some admin here and there. Few mths liao.

So.. when you buy resale flat with lift upgrade. Don't assume lift is working, $$ is pay.

Must check.

HDB has a link to check what is the status of the block, any upgrading program, payment bill, etc

http://services2.hdb.gov.sg/webapp/BB33RES...slStatusEnq.jsp

[bepgof 20]

basically the rule is simple.

you own cheng hu money, cannot run away one.

For lift upgrading, they will only bill you when the whole project is complete.

Est, the project is 10 block.

cannot be all the 10 block up the lift together.

There always has some first, some last.

Then vendor finish liao, hand over the HDB.

HDB should have ppl to check.

ding ding tong tong, some admin here and there. Few mths liao.

So.. when you buy resale flat with lift upgrade. Don't assume lift is working, $$ is pay.

Must check.

HDB has a link to check what is the status of the block, any upgrading program, payment bill, etc

http://services2.hdb.gov.sg/webapp/BB33RES...slStatusEnq.jsp

Clear cut answer!, anyway, rought how much for LUP or another P call what?Estimated how much, don't mind check for me.

My present place got 1 old & 1 new lifts. Everybody use the new (every floor), + residents in this blk seem very busy, in/out lift very often, some more, different floors got different siblings. I NOW know got 6 units are related! My floor got 4 units but 3 owners! The ones opposite each other is father & daughter .

Wrote to TC to asked abt why 1 old 1 new. The new one is FOC.

Edited July 8, 2010 by bepgof

[therat 18]

HDB see unit. They don't care relationship between unit to unit.

1 floor 4 unit

Door to door is est $2.7k per unit

4 unit.. hmm

divide half

$2.7k/2 = $1350

The above price is for Singapore citizen

SPR.. x10 $13 500

The above is base on my "unknown" calculate

If amount wrong, pls don't ask me to top up

[bepgof 20]

HDB see unit. They don't care relationship between unit to unit.

1 floor 4 unit

Door to door is est $2.7k per unit

4 unit.. hmm

divide half

$2.7k/2 = $1350

The above price is for Singapore citizen

SPR.. x10 $13 500

The above is base on my "unknown" calculate

If amount wrong, pls don't ask me to top up

No legal contract signed, don't worry lah. My block is quite "funny". Many relatives in different floor/units, cannot comment "bad" thing abt neighbours in the lift, got "spy". 6-20, 7-13, 5-20, 24-25 flrs, may be got more, yet to find out. Anyway, if bill is $3K, worth to take instalment with interest?

Edited July 9, 2010 by bepgof

[therat 18]

No legal contract signed, don't worry lah. My block is quite "funny". Many relatives in different floor/units, cannot comment "bad" thing abt neighbours in the lift, got "spy". 6-20, 7-13, 5-20, 24-25 flrs, may be got more, yet to find out. Anyway, if bill is $3K, worth to take instalment with interest?

you stay at that point block , right?

right side of the primary school, correct?

My new house is behind that primary school.

I think my block might also has the same thing as you.

Always saw alot of uncle gathering at the void deck, play cheese, listen to radio or hockkien song.

for singapore citizen, lift upgrading max bill is $3k. That's why my stand is pay all.

Unless is SPR, $30k.. that need installment liao.

[Roflmaoxz 0]

Hi everyone,

I would like to check that is it worth to pay upgrading cost all at a go OR it better to go for max installment plan payment. I will be using only CPF to make payment, Pls advice. Thank you.

My MUP + LUP bill came 2 1/2 years after the precinct is completed. Total bill is $8k+. I paid all with my OA before I made sure that I have 18 mths of HDB mthly loan available to be deducted inside in case I am retrenched.