DC rates raised for non-landed residential, commercial and hotel/hospital uses
THE government is raising development charge (DC) rates, payable for enhancing the use of some sites or to build bigger projects on them, for commercial, non-landed residential and hotel/hospital uses.
However, it has cut DC rates for industrial use.
DC rates remained unchanged for landed residential, place of worship/civic and community institution, and other use groups.
The latest DC rates are for the period of March 1, 2017, to Aug 31, 2017. This was announced on Tuesday by the Ministry of National Development, which, in consultation with the chief valuer, revises DC rates twice a year - on March 1 and Sept 1.
On average, DC rates have been raised by 4 per cent for non-landed residential use, 2.6 per cent for hotel/hospital use and 1.3 per cent for commercial use.
DC rates for industrial use have been clipped by 3.7 per cent on average.
DC rates are stated according to use groups across 118 geographical sectors in Singapore.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
DBS puts 46 retail units, HDB shops on market for S$210 million
US mortgage rates jump above 7% for the first time this year
Far East Shopping Centre back on market at unchanged S$928 million asking price
London mansions sold at 30% discount spell gloom for luxury market
Delfi Orchard up for collective sale at S$438 million guide price
US existing home sales drop in March; median price increases