Let genuine HDB upgraders off the hook for ABSD, PropNex CEO suggests
He says this will tackle the issue of the repeated re-issue of OTPs
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TO HELP HDB upgraders buy private property, the government could hold off levying the additional buyer's stamp duty within the six-month disposal period, which would address the problem of the repeated re-issue of options to purchase (OTP), Ismail Gafoor, the chief executive of PropNex, has suggested.
He is taking a leaf from a similar dispensation given to HDB upgraders who buy units in executive condominiums (ECs): This group is given six months to dispose of their flats after having collected the key to their new EC home, he said. (ECs are a public-private housing hybrid.)
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