Payment Scheme
Normal Payment Scheme (NPS)
The Normal Payment Scheme is also known as the Progressive Payment Scheme. The scheme allows the purchaser to service his/her loan via monthly instalments progressively, stage by stage, as the property (The Florence Residences Condo) is being constructed.
Stage | Payment Under a Standard Payment Scheme (% of Purchase Price) |
Upon the grant of Option to Purchase | 5% (Booking Fee) |
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date | 20% less Booking Fee |
Completion of foundation work | 10% |
Completion of reinforced concrete framework of unit | 10% |
Completion of partition walls of unit | 5% |
Completion of roofing/ceiling of unit | 5% |
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit | 5% |
Completion of car park, roads and drains serving the housing project | 5% |
Notice of Vacant Possession (TOP) | 25% |
On Completion Date | 15% |
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