![]() ![]() The payment of any capital sum to redeem in full or partially any loan for the building project (including any loan for the payment of development charges or differential premiums in respect of the building project), other than a loan referred to the paragraph ( k), subject to a maximum of 50% of the total purchase money deposited in the Project Account unless the qualified person in charge of the building project has certified that the roofing and internal plastering of all the units in the building project have been completed Īny administrative expenses (including marketing and advertising expenses) incurred on the building project subject to a maximum of 5% of the total cost of construction of the building project as certified by the architect in charge of the building project The payment of any capital sum to redeem in full or partially any loan for the construction of the building project The payment of interest and other charges on any loan for the building project The payment of the cost of construction of the building project The payment of deposits and charges, other than development charges, payable to the Commissioner of Buildings and any Government department or statutory body in respect of the building project Īny refund of booking fee or progress payments pursuant to any agreement for the sale and purchase of any unit in the building project The payment of moneys for the supply of electricity and water and installation charges and other fees and deposits to the Public Utilities Board in respect of the building project The payment of insurance premiums, architect’s fees, engineer’s fees, quantity surveyor’s fees and consultant’s fees for the building project The sale and purchase of the units in the building project Īny mortgage to secure loans for construction of the units in the building project andĪny other matters relating to the building project The payment of legal fees in respect of - (i) The payment of stamp duty payable on a mortgage to secure any loan for construction of the building project The payment of property tax levied in respect of the land on which the building project is carried out No moneys in a Project Account of a building project shall be withdrawn by a licensed housing developer except for all or any of the following purposes: ( a) Application of moneys in Project Account for specified purposesĥ. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |