Payment plans
The Progressive Payment Scheme
Singapore regulates off-plan payments by statute. You pay only as the building physically rises, against milestones certified by the project architect — never in advance of construction.
- Payable before construction starts
- 20%
- Released across certified build stages
- 45%
- Due at Temporary Occupation Permit
- 25%
- Held to Certificate of Statutory Completion
- 15%
Schedule
Milestone-by-milestone
The statutory schedule applied to every Elevate residential development. Commercial and office schemes follow the equivalent commercial milestone structure.
| Share | Milestone | Timing |
|---|---|---|
| 5% | Booking fee | On option to purchase |
| 15% | Down payment | Within 8 weeks of option |
| 10% | Foundation works | On completion of foundation |
| 10% | Reinforced concrete framework | On completion of frame |
| 5% | Partition walls | On completion of brickwork |
| 5% | Roofing and ceiling | On completion of roofing |
| 5% | Electrical, plumbing and finishes | On completion of wiring and plastering |
| 5% | Car park, roads and drains | On completion of external works |
| 25% | Temporary Occupation Permit | On TOP issuance and handover |
| 15% | Certificate of Statutory Completion | 12 months after TOP, end of defects period |
Financing
Residential loan-to-value is capped at 75% for a first housing loan; commercial facilities reach 80%. Banks disburse progressively, so interest accrues only on drawn amounts.
Buyer protection
All progressive payments are paid into a project account regulated under the Housing Developers (Control and Licensing) Act and can only be drawn against certified works.
Deferred structures
Selected developments offer a deferred payment option: a reduced schedule during construction with the balance settled at TOP, subject to eligibility.