One of the most sought-after housing choices is executive condominiums. Most importantly, they’re affordable and can be used to accommodate multiple people. For an Executive condominium to qualify, you must satisfy several requirements. The process is much more straightforward if you understand it. See Altura EC Price for get more info.
Different documents are required during application. You will need documents such as income statements and marriage certificates. Birth certificates, NRICs, and other certificates are also required. You should ensure that your income statements have been reviewed by HR in order to verify they match the needs of HBD.
What are the advantages of purchasing an executive condominium
A Executive condominium offers many benefits. Similar to private condos, it is quite similar. These facilities can be enjoyed by the owners, and are usually available to residents. People applying to Executive Condominiums are eligible for housing grants. This grant will help them purchase a home. This grant can only be given to eligible individuals who have not applied previously for it.
Renting aExecutive Condominium
Your Executive Condominium comes with rules. You can’t rent it during its MOP for 5 years. Minimum Occupation Permit. You are permitted to rent other rooms from the Executive Condominium during this period.
A variety of rules and regulations govern the selling an executive condominium. An MOP of five years must be fulfilled by all owners. The MOP must be met first. There are no transactions that may take place during this time. Once the set five-year period has expired, owners have the right to let go of their units and sell them to another citizen or to other permanent residents. If the 10 year period has passed, foreigners may sell the Executive Condominium. The HBD will require you to wait 30 months for any flats that have not been sold.