+65 6100-8108

Payment Scheme & Timeline

Launching April 2022
Sunday, 3 December 2023

Developer hotline

+65 6100 8108

North Gaia EC Financing Information

5% to 15% Payment

Buyers of North Gaia EC can make payments for their unit via the Normal Progressive Payment Scheme or Deferred Payment Scheme.

For both schemes, the following table highlights the sequence of payment from the first 5% to the next 15%.

Day 1Signing of Option to Purchase (OTP) upon receiving Booking Fee5% Booking Fee
Day 1 +
Within 2 Weeks**
Sales & Purchase Agreement (S&P) will be sent to Purchaser's appointed law firm or directly to Purchaser if no law firm has been appointed N.A.
Within 3 Weeks from receiving S&P**Purchaser to sign the S&P at the appointed law firm and prepare payment of Buyer's Stamp Duty (BSD) and Additional Buyer's Stamp Duty (ABSD), if applicable.
Law firm will receive a signed copy from the Developer within 2 weeks.
Within 2 weeks from Signing S&P**Purchaser to pay BSD and ABSD (if applicable).Applicable BSD and ABSD Rates*
On the 9th Week from Day 1Purchaser to pay remaining 15% downpayment + Progressive Payment (depending on stage of construction)15% + Progressive Payment
(where applicable)

**This timeline can be earlier than stated. 

The timeline from OTP to 15% payment is around 9 weeks. This timeline can be shorter or longer depending on the approval process from HDB. 

If there are any delays, it is mandatory to inform the developer in writing and is subject to approval. 

In the event that the purchaser did not exercise the S&P at the law firm within 3 weeks, the developer will be entitled to forfeit 1/4 of the booking fee, which is equivalent to 1.25% of the purchase price. The remaining 3/4 of the booking fee will be refunded to the Purchaser. Thereafter, the developer is entitled to sell the unit to any interested party. 

*BSD Rates:

If Purchase Price is $1M or below, BSD = (3% of Purchase Price) – $5,400

If Purchase Price is above $1M, BSD = (4% of Purchase Price) – $15,400

The further progressive payment stages are outlined below: 

North Gaia EC Financing Information

Normal Progressive Payment & Deferred Payment Scheme

Buyers of North Gaia EC can make payments for their unit via the Normal Progressive Payment Scheme, which takes place as the project is being built, or the Deferred Payment Scheme, which allows buyers to defer the bulk of payments till the TOP of the EC. 

StageTimelineNormal Progressive Scheme (NPS)
% of Purchase Price
Deferred Payment Scheme (DPS)#
% of Purchase Price
Upon the grant of Option to PurchaseOption Date5%5%
Upon signing the Sales & Purchase Agreement (S&P)9 weeks from Option Date15%
Completion of Foundation work6-9 months10%-
Completion of Reinforced Concrete Framework6-9 months10%-
Completion of Brick walls3-6 months5%-
Completion of Roofing/Ceiling3-6 months5%-
Completion of Electrical Wiring Internal Plastering, Plumbing & Installation of Door & Window Frames3-6 months5%-
Completion of Car Park, Roads and Drains Servicing the Housing Project3-6 months5%-
Notice of Vacant PossessionTOP25%65%
Legal Completion DateCSC15%15%
To apply for monthly Instalment for CPF
  1. Go online to CPF website at
  2. Key in your Singpass
  3. Click on My Requests
  4. Click on Property
  5. Click on Use CPF For My Property
  6. Choose the property address you wish to commence monthly instalment for 
  7. Click on any of the following:
    • Commence/Revise/Cease Monthly Instalment
    • Make Lump Sum Payment 
    • Make Arrears Payment 
    • Repay Housing Loan Fully
  8. Complete the Form and submit online 
  9. Note the deadline for activation of monthly housing instalments 

Take note to commence monthly instalments latest by 19th of the month 


North Gaia EC