Source : The Straits Times, Feb 29, 2008
THE rates of development charges (DC) have been revised for the period of Mar 1 to Aug 31, taking into account the current market values.
Rates for use of land for shopping, commercial and recreation have increased, along with those meant for residential, hospital and hotel, as well as industrial purposes.
The rest remain unchanged.
When compared against the DC table for Sept 2007, the rates for commercial use have risen by an average of 1.5 per cent while rates for residential use went up by 2.6 per cent.
DC for hotel and hospital use jumped 3.3 per cent and rates for industry/warehouse use rose by 16.8 per cent.
In a statement, the National Development Ministry said there is no change to the number of geographical sectors and their boundaries.
The revised DC rates would also apply to cases which are granted second or subsequent extension to their provisional permission.
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