Buyers of flats in a Build-To-Order (BTO) project in Punggol will be compensated as its completion date has been delayed for more than a year, said the Housing Board (HDB) on Saturday (Oct 9).
Waterway Sunrise II which was launched in February 2017, comprises 7 blocks of 1,014 flats. The completion date was originally expected to be between the first and second quarters of this year.
HDB said it will disburse to all flat buyers of Waterway Sunrise II the maximum reimbursement sum that they are eligible for under the COVID-19 (Temporary Measures) Act, without requiring them to submit claims or proof of expenses so as to minimise further inconvenience. The reimbursement will depend on the selling price of the flat and length of delay beyond the delivery possession date (DPD). This is the legal contractual date by which HDB is required to hand over the keys.
Prices started from S$163,000 for a three-room flat, S$257,000 for a four-room flat and S$383,000 for a five-room flat at the project’s launch in February 2017.
In addition, first-time flat buyers who are unable to find alternative interim housing arrangements with relatives or on the open market can apply for temporary housing under the Parenthood Provisional Housing Scheme.
Eventually, these owners will still get the flat but instead of getting it between the initial projected date of the first and second quarter of 2021, they will be getting it between the fourth quarter of 2022 to the first quarter of 2023.