Standard timetable and duty
A licensed housing developer company must start within two years and complete and sell all five or more homes within five years of acquisition. Current 40% ABSD comprises 35% conditionally remittable and 5% non-remittable payable upfront. Submit the undertaking, licence and relevant qualifying certificate, work evidence and completion/sale records. Later changes of development intention do not establish eligibility.
Unsold units and extensions
From 16 February 2024, eligible land acquired from 6 July 2018 can receive a reduced clawback where work conditions are met and at least 90% of units are sold by deadline. For the 35% cohort, 99% sold produces a 25-percentage-point clawback; below 90% produces 35 points, plus 5% annual interest. Complex projects and qualifying CORENET X submissions have separate extension conditions; they are not automatic for every site.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
Read the official source ↗