Friday, August 29, 2008

Development Charge Rates Mostly Flat

Source : The Business Times, August 29, 2008

The Ministry of National Development (MND) has left development charge (DC) rates - which may be payable for enhancing the use of some sites or building a bigger development on them - unchanged for most use groups, including commercial, landed residential and hotel/healthcare.

However, the average DC rate for non-landed residential use has been trimmed 6 per cent while the average DC rate for the industrial/warehouse use group increased by 0.1 per cent.

The new DC rates take effect from Sept 1, 2008. MND revises the DC rates twice a year in consultation with Chief Valuer, who takes into account current market values.

DC rates are listed by use groups across 118 locations or geographical sectors throughout Singapore. Under the latest revision, the boundaries of eight geographical sectors have been re-demarcated to better reflect current market values.

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