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Minimal impact from DC increases on Oxley developments
OXLEY Holdings said the revised development charge (DC) rates will have minimal impact on its proposed developments in Singapore.
It added that its eight proposed developments will not be subject to the revised DC rates. These eight projects are located at:
- 344-350 Hougang Avenue 7 (previously Rio Casa),
- 128-134 Serangoon North Avenue 1 (previously Serangoon Ville),
- 2, 4, 6, 8, 10, 12 and 14 Rifle Range Road (previously Mayfair Gardens),
- 50-66 South Buona Vista Road (previously Vista Park),
- 231 Pasir Panjang Road,
- 16 Lorong 35, Geylang,
- 208 Yio Chu Kang Road,
- 494 Upper East Coast Road.
The Urban Redevelopment Authority on Feb 28 raised the DC rates for commercial and non-landed residential uses by up to 16 per cent and up to 38 per cent, respectively. These new rates will apply to cases which are granted provisional permission (PP) or second and subsequent extensions to the PP on or before Mar 1, 2018.