Buying process
EOI (Expression of Interest): a non-binding registration during the preview that puts you into the booking-day ballot. Buying process →
Ballot / queue number: your order for choosing a unit on booking day.
OTP (Option to Purchase): the document you get on booking day after paying the 5% booking fee.
S&P (Sale & Purchase Agreement): the binding contract, signed a few weeks after the OTP.
TOP (Temporary Occupation Permit): when the building can be occupied and you collect your keys. 25% of the price is due.
CSC (Certificate of Statutory Completion): final completion, usually about a year after TOP. The last 15% is due.
Defects liability period: usually 12 months after handover, during which the developer fixes reported defects.
Financing
IPA (In-Principle Approval): a bank’s preliminary confirmation of how much it will lend you.
TDSR (Total Debt Servicing Ratio): total monthly debt must be within 55% of gross income, tested at 4% interest. Affordability calculator →
MSR (Mortgage Servicing Ratio): a 30% cap for HDB flats and ECs. It does not apply to private condos.
LTV (Loan-to-Value): the maximum loan as a % of the price. 75% for a first housing loan.
Progressive Payment Scheme: payments made in stages as construction progresses. Calculator →
SORA: Singapore Overnight Rate Average, the benchmark for floating home loans.
Taxes
BSD (Buyer’s Stamp Duty): tiered duty paid on every purchase. Stamp duty guide →
ABSD (Additional Buyer’s Stamp Duty): extra duty for second properties, PRs, foreigners and entities.
ABSD remission: a refund for eligible married couples who sell their first home in time. Guide →
SSD (Seller’s Stamp Duty): duty if you sell within 4 years (for purchases from July 2025).
Land & pricing
GLS (Government Land Sales): URA’s programme for selling state land to developers. Chuan Grove GLS →
psf ppr: per square foot per plot ratio, the land cost per square foot of buildable floor area.
psf: price per square foot of the unit.
Quantum: the total price of a unit.
GFA (Gross Floor Area): total buildable floor space on a site.
Ownership
MOP (Minimum Occupation Period): typically 5 years that HDB owners must live in the flat before selling or buying private property. MOP playbook →
MCST (Management Corporation Strata Title): the owners’ body that manages the condo.
Share value: your unit’s share of the development, which sets your maintenance fees.
Sinking fund: savings for major future repairs.
Valuation Limit (VL): the lower of price or valuation, which caps CPF usage. CPF guide →