Sol Acres EC

Sol Acres EC . New Choa Chu Kang Executive Condominium . By MCL Land

The Sol Acres EC is an upcoming executive condominium that will be launching for sale soon in 2015. This Choa Chu Kang EC will be one of the rare new ECs in the North West of Singapore. In fact there were only 2 new executive condos around this vicinity previously – The Rainforest, and Blossom Residences. Both sold out 2 years ago, and since then there has been a build up of demand awaiting this new CCK EC.

Sol Acres EC Main EntranceArtist’s Impression :: The Sol Acres EC Main Entrance

This CCK EC will be pretty big, as it is actually an amalgamation of 2 executive condo sites. MCL Land managed to acquire both the adjacent sites, at Choa Chu Kang Grove, to obtain a huge combined land area of 32,908.60 square metres, ie. 354,228 sq ft.

The development will comprise 13 blocks of varying levels, from 19 to 25 storeys, and house 1327 apartment units.

The advantages of having such a large site are

  1. Cost savings in developing the project due to economies of scale.
  2. Being able to have much wider variety of facilities
  3. Lower monthly maintenance fees (as certain overheads, like the guardhouse, are fixed).

The drawback to this EC is that it is not within walking distance to an MRT station. But then again, most ECs are not either. However Sol Acres EC is within a short walk of Teck Whye LRT and Keat Hong LRT stations, 2 stops from Choa Chu Kang MRT station. So that is just 5 minutes ride away.

For drivers, this CCK EC site is also comfortingly near the exit to Kranji Expressway. And with a developer like MCL Land, you can be assured of a quality project.

If you would like to be kept posted on floor plans or registration dates, or how to register, just drop your contact details here.

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Economics of the Sol Acres EC

  1. 15 to 20% (ie. around $200K to $300K) cheaper than equivalent new private condominiums.
  2. First time EC buyers are eligible for up to $30,000 CPF housing grant.
  3. No need to pay any agent’s commission or fee (unlike for HDB resale flats).
  4. Of all residential property types, ECs have historically achieved the greatest capital gains. Besides moving in tandem with overall market appreciation, they also get an extra profit when they close the gap with private condominium prices after the MOP period.

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For other details, see the Fact Sheet.

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THE SOL ACRES EC · SHOWFLAT VIEWING

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Sol Acres EC Launch Eligibility Guide | Sol Acres Eligibility

Sol Acres EC Launch Eligibility Guide : HDB Eligibility Conditions for Sol Acres EC Launch . Singapore

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Are you looking for a Sol Acres EC Launch Eligibility Guide or Sol Acres Eligibility criteria? As Sol Acres is an executive condominium, you must meet HDB’s eligibility criteria to book a unit at the Sol Acres EC launch. If you need help to assess your eligibility, just send your query via the Contact Form.

Sol Acres EC Launch Eligibility Guide : JGateway by Sol Acres EC Launch Developer :: Sol Acres Launch

JGateway by Sol Acres Launch Developer :: Sol Acres EC Launch by MCL Land

Source: Sol Acres EC Launch Eligibility Guide from HDB web site (www.hdb.gov.sg)

Citizenship
  • Main applicant must be a Singapore Citizen
  • Application must include at least one other Singapore Citizen or Permanent Resident.
Age
  • All applicants must be at least 21 years old at time of application of the Sol Acres EC launch
  • If applying under the Joint Singles Scheme, both must be at least 35 years old
Family Nucleus

You must form a family nucleus under one of the schemes listed here:

    • Public Scheme
      You (the applicant) and;
      * Your spouse, and children (if any)
      * Your parents, and siblings (if any)
      * Your children under your legal custody (if you are widowed or divorced)

 

    • Fiance/Fiancee Scheme
      You (the applicant) and your fiancee/fiance

 

    • Orphan Scheme
      You (the applicant) and;
      * Your unmarried brothers/sisters, or
      * Another unrelated single orphan

 

  • Joint Singles Scheme
    You (the applicant) and another single person
Income Ceiling
  • Your total monthly household income must not exceed SGD$14,000
Special Requirement for Undischarged Bankrupts

Undischarged bankrupts must seek the Official Assignee (OA)’s consent to apply for the Sol Acres EC launch. However, they do not need to seek the OA’s approval to be listed as an occupier.

Ownership of Private Property

You, your spouse, & any occupiers in this application, and their spouses, must not own or have disposed of, or have any part or share in any other private flat, house, building or land.
* Within 30 months before the date of application, and
* Between the application date of the Sol Acres launch and date of taking possession of the EC.

Owners/Ex-owners of HDB flats / DBSS flats / EC units

Each Singaporean household is allowed to buy the following housing types only twice:
* a flat directly from HDB;
* a resale flat with the CPF Housing Grant (only applicable to 1st timers);
* a DBSS flat from a developer;
* an EC apartment from a developer.

If you’ve already bought two such apartments, you cannot apply for, or be listed as an essential occupier in an application to buy a unit at the Sol Acres launch.

Definition of First-timer Applicants

You and any essential family members listed in your application for the Sol Acres EC launch, have NEVER:
* Bought a flat directly from HDB, or a DBSS flat or Executive Condo from developer
* Sold a flat bought directly from HDB, or DBSS flat or EC bought from developer
* Received the CPF Housing Grant for the purchase of an HDB resale flat
* Enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate, etc)

70% of units will be set aside for first-timers during the initial period of the Sol Acres launch.

Definition of Second-timer Applicants

You or the essential family members in your application have owned/sold or are currently owners of:
* Any HDB flat that was bought from HDB, or
* Any resale flat that was bought under the CPF Housing Grant Scheme, or
* A DBSS flat or an EC bought from the developer, or
* Have enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate etc.)

Second-timers buying Sol Acres EC are required to pay a Resale Levy. For resale levy details, see this page (opens in new window).

Existing Owner or Ex-Owner Of

* Flat bought directly from HDB
* DBSS flat bought from developer
* Resale flat bought under the CPF Housing Grant Scheme

If you belong to any of the above categories, you may apply to buy a unit at the Sol Acres EC launch on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the #date of taking possession of the previous flat to date of application for the new EC.

# The date of taking possession refers to following dates:
* Date of key collection, for flats that are bought direct from HDB
* Date of resale completion, for resale flats bought from open market with CPF Housing Grant
* Date of transfer at market value of the flat bought with CPF Housing Grant
* Date of key collection for EC/DBSS flats bought from the developer

Ex-owners of an EC

Are you, your spouse or any of the essential occupiers listed in the application an ex-owner of an Executive Condominium bought directly from the developer? If yes, you would need to wait at least 5 years from the date of taking possession of the earlier Executive Condominium before applying for the Sol Acres launch.

30-Month Period
In addition, you need to wait out a 30-month period from the effective date of disposal (i.e., date of legal completion of the sale of your Executive Condominium, evidenced by the Notice of Transfer or such other documentary evidence as HDB may require) of the EC before you can apply to buy a unit at the Sol Acres EC launch.

Essential Occupiers

Any person applying to buy at this Sol Acres launch or be listed as an occupier must not currently be listed as an essential occupier of:
* An existing HDB flat bought directly from HDB,
* A DBSS flat bought under the CPF Housing Grant Scheme, or,
* A resale flat bought under the CPF Housing Grant Scheme

However, you may be eligible if you have stayed in the existing flat for at least 5 years from the #date of taking possession of the existing flat to the date of application for a new flat.

Cancellation of Application After Booking a Flat

If you book a flat from the March 2012 BTO and Sale of Balance Flats exercises onwards, and subsequently cancel the flat booking, you will have to wait 1 year from the date of cancellation before you can apply or be included as an essential occupier in a Sol Acres EC launch application.

Divorcees

Within 3 years from the date of a divorce, only one party in the divorce can own one of the following housing units:

  • Flat bought directly from the HDB
  • DBSS flat / EC bought directly from a private developer
  • Resale flat bought from open market under the CPF Housing Grant Scheme

If there is an existing matrimonial home which is one of the above, and that home is retained by your ex-spouse, you may apply to buy or be listed as an essential occupier in the Sol Acres EC launch only 3 years after your date of divorce.

However, this 3-year wait out period will not apply if you apply for the Sol Acres launch with your parents or a new spouse.

If there is no matrimonial home or the matrimonial home was bought from the open market without any CPF Housing Grant, you may apply for the Sol Acres EC launch after you obtain your ex-spouse’s consent not to own or be listed as an essential occupier in any of the above housing types within the 3-year period from the date of divorce.

The requirement for ex-spouse’s consent is waived if you are buying the EC with your parents or a new spouse or if you are buying a resale flat from the open market without the CPF Housing Grant.

The requirement to seek ex-spouse’s consent during the 3-year period from the date of divorce is also waived if you meet the following conditions:

  • All your children are below 18 years old at the date of divorce; and
  • You have the legal custody of all your children and are also the only parent with the care and control of all your children

 

Person Who Has Bought an EC/DBSS Flat with CPF Housing Grant

A person who bought an EC or DBSS flat with CPF Housing Grant but terminated the Sale & Purchase Agreement may apply to buy a unit at the Sol Acres EC launch.

However, this is allowed on the condition that a 5-year period has lapsed from the termination date of the Sale & Purchase Agreement of their earlier EC or DBSS flat purchase, to the date of application at the Sol Acres launch.

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THE SOL ACRES EC LAUNCH · E-APPLICATION

Just drop us your contact details here if you would like to be kept updated, or to register interest in this new Choa Chu Kang EC.

(Fields marked with * need to be filled in. We respect your privacy and will not spam you.)

Name *
Email *
Phone *
Application Status *
You want to  Request Brochure / Floor Plans
 View showflat
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 Keep you posted on other new launches as well
After clicking, please see below for status


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Source: HDB (Sol Acres EC Launch Eligibility Guide)

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