Parc Esta Price

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Parc Esta Price List

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The process of purchasing a new launch condominium such as Parc Esta is different from purchasing a resale condominium. The following summarize the process of the purchases.

Payment of the First 20% Downpayment

Timeframe Stage Payment
Day 1 Signing of Option to Purchase (OTP)
(Meanwhile selection of Mortgage loan & Engagement of Lawyer)
5% Booking Fee
Within 14 days Sales & Purchase Agreement (S & P) sent to Buyer Lawyer. (It will sent to the buyer if no lawyer appointed)
Within 21 days
from delivery of S & P
Buyer to sign and exercise S & P @ Law firm **
Within 14 days of Signing S & P Buyer to pay Stamp Duty
Within 8 weeks
from Day 1
Buyer to pay remaining downpayment
(Cash/ CPF / Both)
15% Downpayment

The Sales & Purchase Agreement must be exercised within 21 days upon delivery of the documents. If the option expires, that is the buyer did not exercise the option, 25% of the booking fee will be forfeited by the developer. The 75% of the booking fee will be refunded to the purchaser.

Take note, the duration of each stage can be earlier than stated. The important things to note is that the entire procedure must be within  8 weeks from the Date of Option. If there is any delay, written request must be submitted to the developer and is subjected to approval.

Upon the payment of the first 20% of the property, the rest of the 80% will be in progressive scheme. For purchasers that secure 80% loan, the 80% will be disperse by the bank in stages. The payment will be according to the progress of the construction of the condominium.

Progressive payment for the remaining 80%.

Estimated Timeframe Stages Payment
Est 6 – 9 months Completion of Foundation Work 10%
Est 6 – 9 months Completion of Reinforces Concrete Framework 10%
Est 3 – 6 months Completion of brick walls 5%
Est 3 – 6 months Completion of roofing / ceilings 5%
Est 3 – 6 months Completion of electrical wiring, internal plastering, plumbing & installation of door & window frames 5%
Est 3 – 6 months Completion of carparks, roads, & drains serving the development 5%
Notice of Vacant Possession
(Temporary Occupation of Permit – TOP)
Legal Completion date (Certification of Statutory Completion – CSC) 15%

Take note, the above estimated time frame can varies from project to project. It can be earlier than expected. That is to say, developer will bill for the payment once each stage is completed.

If there is any confusion with the above, please contact the developer sales team. It is important that you have full clarity prior to the purchases. The developer sales team will guide you on the financial plan on the amount of cash, cpf and loan that you can use based on the Parc Esta price. .

Take note that Buyer Stamp Duty (BSD) are applicable in the purchase of Parc Esta Condo. The formula for the purchase of BSD will be

Bear in mind that other than the Buyer Stamp Duty (BSD), there are also the Additional Buyer Stamp Duty  (ABSD), Seller Stamp Duty (SSD) and Total Debt Service Ratio (TDSR) that need to be taken into serious consideration before buying a new home. For buyers who are currently staying in a HDB flat, they will need to meet the Minimum Occupation Period (MOP) of 5 years before being eligible to buy their second residential property.

Based on the Parc Esta pricing  
First $180,000 1%
Next $180,000 2%
Next $640,000 3%
Remaining amount 4%

The easy formula will be

For less than property less than 1 million and more than $360,000

Buer Stamp duty  = (3%  x  property price) – $5400

For less than property more than

Buer Stamp duty  = (4%  x  property price) – $15400

Additional Buyer’s Stamp Duty (ABSD)

Profile Of Buyer ABSD rate
Singapore Citizen Buying First Residential Property Nil
Singapore Citizen Buying Second Residential Property 7%
Singapore Citizen Buying Third and subsequent Residential Property 10%
Singapore PR buying First Residential Property 5%
Singapore PR buying Second and subsequent Residential Property 10%
Foreigners and entities buying residential property 15%

Singapore Citizen who does not own any residential property will not be subjected to Additional Buyer Stamp duty (ABSD).

Check out Parc Esta Floor Plan.

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