Source : The Straits Times, Aug 31, 2009
THE Government on Monday announced cuts of 2 to 4 per cent on average to the development charge (DC) rates that developers pay for enhancing the use of sites.
The new rates will apply from Sept 1 to Feb 28, 2010 and will apply to projects which have been granted provisional permission. The revised rates take into account current market values and are reviewed every six months.
The DC rates for commercial use, business zone comercial use as well as for hotel cum hospital use have dropped by 4 per cent, while that for non-landed residential sites is down 2 per cent, said the National Development Ministry in a statement
There are no changes to the use Groups and the number of geographical sectors.
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