FAQ (Frequently Asked Questions)

 
When is the Rainforest launch date?

The Rainforest Launch Date
E-Applications scheduled to start 5th January 2012. Do email us if you would like details.

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What must I do to book a unit at this new EC at CCK?

Email Rainforest EC for the application form. (Application cannot be done via HDB website.)

We will subsequently have to do an eligibility check during the e-Application before you can proceed to book a unit.

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Am I eligible to buy a unit at the Rainforest @ Choa Chu Kang?

You are if:
. You are a Singapore citizen and your partner is a Singapore citizen or PR.
. At least 21 years old.
. Your total monthly household income does not exceed $12,000.
. You form an essential family nucleus as defined by HDB.
. You & your partner have not bought a flat direct from HDB or with a grant more than once.
. None of your family nucleus has owned private property within the last 30 months.

That was the quick answer; for detailed criteria, see New EC Launch Eligibility.

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Can I buy this new EC at CCK if I currently own a HDB flat?

Yes, if you
. Have not bought a flat direct from HDB or with a grant more than once.
. Have already stayed in your flat at least 5 years if bought direct from HDB or with a grant.
. Will have fulfilled your MOP before this EC gets TOP, if your resale flat was bought without a grant.

But you must sell off your current flat within 6 months of TOP of this new EC at CCK.

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When can I sell or rent out my Rainforest EC unit?

. Can be sold to Singapore citizens or PRs after 5 years, or rented out to anyone then.
. Fully privatized after 10 years. Can then be sold to anyone, including foreigners or developers.

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What makes this new EC at CCK a good buy?

Though subject to EC purchase & sale restrictions, The Rainforest @ Choa Chu Kang is:
. Probably 15 to 20% cheaper than private condos.
. Near MRT = greater potential for capital gain, as value rises closer to private condos after 5th year.
. You still get a condominium with full facilities (pool, gym, spas, etc) & finishes and fittings.
. By CDL, a top notch developer with a well-earned reputation for excellent quality & design.

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What other benefits do buyers of the Rainforest @ Choa Chu Kang get?

1st timer buyers
. May be eligible for the CPF housing grant, up to $30,000 to help pay the 15% downpayment.
. Get priority in selecting your unit of choice (95% of units are reserved for 1st timers in first month).

2nd timer buyers
. No longer need to pay a resale levy (since 2009).

Buyers with existing housing loan can still get up to 80% bank loan by opting for Deferred Payment Scheme.

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What is the difference between EC vs DBSS flats?

DBSS flat
. Slightly cheaper. Perhaps up to 20% cheaper depending on location.
. Maximum household income ceiling is $10,000 to buy a unit.
. You can take a HDB loan if your monthly household income is not more than $8,000.
. No facilities.
. Essentially a premium HDB flat that comes with finishes & fittings. You don’t own the land.

EC flat
. Slightly higher price, but potential capital gain may far outstrip the difference in price.
. Maximum household income ceiling is $12,000 to buy a unit.
. No HDB loan; use bank loan instead.
. Full condominium facilities inclusive of security (gated community).
. Essentially a condo. You co-own the land & communal facilities.
. Privatized ie. become private condo after 10 years. May even sell en-bloc to developers eventually.

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Do I have to pay any admin charges or commissions or agent fees?

No, no charge at all. We will gladly provide you all the information, and help you book The Rainforest @ Choa Chu Kang directly from CDL, without charging you anything.

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What’s the payment schedule like for The Rainforest @ Choa Chu Kang?

For details on payment schedule & financing, see The Rainforest EC Pricing.

If NOT currently paying off a housing loan or if you opt for Deferred Payment Scheme:

  • First 5% cash (via a cheque) at time of booking your new EC at CCK.
  • Next 15% within 9 weeks (typically) of booking the unit. This 15% can be from CPF Housing Grant, or from CPF funds, or from cash.
  • The remaining 80% can be from CPF funds, bank loan, or cash. This is payable progressively, which means you (or the bank if you take a loan) pays out the money as and when construction work reaches certain stages. If you take a loan, your monthly instalments start small and slowly increase.

If currently paying off a housing loan:

  • First 5% cash (via a cheque) at time of booking your new EC at CCK
  • Next 15% within 9 weeks (typically) of booking the unit. Of this 5% must be from your own cash, and the remaining 10% can be from CPF Housing Grant (if eligible), or from CPF funds, or from cash.
  • When foundation works complete, another 10% is payable to the developer. This can be from CPF funds, or cash.
  • When reinforced concrete (RC) framework is completed, another 10% is payable to the developer. This can be from CPF funds, or cash.
  • The remaining 60% can be from CPF funds, bank loan, or cash. This is payable progressively, which means that you (or the bank if you take a loan) pays out the money as and when construction work reaches certain stages. So if you take a loan, your monthly instalments start small and slowly increases.

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For queries or to register interest or updates on the Rainforest launch date, please email to The Rainforest EC.

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OTHER DEVELOPER PROJECTS

Park Place Condo :: New Condominium with Full Facilities @ Corner of Sims Avenue & Paya Lebar Road . Right beside Paya Lebar MRT Station with direct access at ground and basement levels . Jointly developed by Lendlease Group & ADIA . Singapore

The Florence Residences is a new condominium development that is being built by Logan Property (Singapore), on the site of the former Florence Regency. Florence Regency was a HUDC precinct that underwent privatisation before selling their site en bloc in a collective sale, unlike Rainforest EC that was from a government land sale tender.

Colliers had valued the Florence Residences site at $629 million, but the initial first three bidders did not reach that reserve price. It was only after other developers were approached, that Logan Property agreed to pay the reserve price for the land in a private treaty deal.

The 389,236 square foot site has a plot ratio of 2.8, and can yield up to around 1,200 to 1,300 apartment units. Since it is a collective sale site, it can still use traditional building methods, instead of PPPC or pre-cast construction methods. What this means is that internal walls need not be mainly structural walls.

With that many units available, there ought to be a good range of unit types available. Likely from one bedders, all the way up to 4 or 5 bedroom units. There might even be some townhouses for sale here, similar to nearby new launches like Riverfront Residences and Affinity at Serangoon.

The Florence Residences location is within a residential enclave in the Kovan / Hougang neighbourhood. It is not exactly very close to an MRT station, but if you don’t mind taking an 11 to 12 minute walk, you have a choice of two stations on the North-East Line. One is Kovan station, that is accessible via Simon Road. The other is Hougang station at Hougang Town Centre.

You can also find a couple of supermarkets, shops, banks, and food outlets around these two stations. These are around the same distance from Florence Residences, as the Choa Chu Kang town centre is from Rainforest EC.

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