The Serra Residences is sold off-plan under construction, so purchases follow the Progressive Payment Scheme set out in the Housing Developers Rules: the price is paid in stages as the building rises, and a bank loan is drawn down stage by stage.
The Serra Residences Progressive Payment Schedule
| Stage | % of price | Usual source |
|---|---|---|
| Option to purchase (booking fee) | 5% | Cash |
| Exercise of the Sale & Purchase Agreement, within 8 weeks of the option | 15% | Cash / CPF |
| Completion of foundation work | 10% | Loan / CPF |
| Completion of reinforced concrete framework | 10% | Loan / CPF |
| Completion of partition walls | 5% | Loan / CPF |
| Completion of roofing and ceiling | 5% | Loan / CPF |
| Completion of electrical wiring, plumbing, doors and windows | 5% | Loan / CPF |
| Completion of car park, roads and drains | 5% | Loan / CPF |
| Temporary Occupation Permit (TOP) | 25% | Loan / CPF |
| Certificate of Statutory Completion | 15% | Loan / CPF |
Standard Progressive Payment Scheme for residential property under construction. The schedule for The Serra Residences is set out in its Sale & Purchase Agreement.
The First 20 Per Cent
The 5 per cent booking fee is paid in cash when the Option to Purchase is granted. The balance of the first 20 per cent is due when the Sale and Purchase Agreement is exercised, within eight weeks; with a first housing loan, a buyer may use CPF Ordinary Account savings for part of it, subject to the minimum cash rule on the housing loan page.
Construction Stages to Completion
From foundation work to the car park and drains, six construction stages each call a portion of the price as the builder certifies completion, and the bank disburses the loan against each. With the estimated TOP date in Q4 2030, the TOP payment of 25 per cent and the final 15 per cent on the Certificate of Statutory Completion fall due after the building is finished. Vacant possession is expected by 1 September 2031 and legal completion by 1 September 2034.
Modelling The Serra Residences Payments
Because the loan is drawn progressively, the monthly instalment starts small and rises with each stage. The progressive payment calculator sets out the cash, CPF and loan at every stage for a chosen price and buyer profile, with the stamp duty from the stamp duty page included.
Register Your Interest in The Serra Residences
The e-brochure, the full floor plan set and indicative pricing, once released by the developer, are sent to registered parties by the Sales Concierge. Registering is free and carries no obligation.
- The e-brochure and the full project details.
- The floor plans for all thirteen unit types, from 710 to 2,669 sq ft.
- Indicative pricing as the developer releases it.
- A private VVIP preview appointment at the sales gallery.
Register Your Interest
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