Gixxerfied
Greater Supremacy Member
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- May 24, 2008
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Not sure about Q1, but for your second question, the waiting time depends on the number of schemes/grants you're eligible for. From what HDB told me, they said the waiting time could be 4-5 months as they need time to assess your eligibility and process the grants. The grants have to be go into your CPF before you can collect your keys. If the house you're getting is ready for key collection, you will have 1 appointment after the grants are approved, and you will pay the downpayment and collect the key in the same appointment. However, if you booked a flat that is still under construction, you will have 2 appointments: 1 to make your downpayment after the grants are approved, and 1 more when the keys are ready to be collected.
I guess this also affects the drop-out rate, as some people might be heavily dependant on the grants to purchase their choice flat. If the grants don't get approved, and they cannot afford the downpayment in cash/cpf, they might drop out and forfeit the flat.
Unless it's different from BTO process, dont see why it would take so long for grants if documents are in order..
My timeline,
Book unit on 2nd Aug 2013, grant approve about 17th sept 2013, credited on 19th sept 2013, lease sign on 2nd oct 2013..

