The Ministry of National Development (MND) has revised the development charges (DC) rates for the period between 1 March 2011 and 31 August 2011.
The DC rates for commercial use have risen by about 13 percent, with Sector 9, covering Peck Seah Street, Maxwell Road and Anson Road, seeing the biggest increase of 29 percent.
The DC rates for landed and non-landed residential uses have also increased by an average of 18 and 11 percent, respectively.
For landed residential use, Sector 108, covering Holland Road, Sixth Avenue, Eng Neo Avenue, Adam Road and Farrer Road, saw the steepest hike at 25 percent. As for non-landed residential use, Sector 100, which comprises Upper Serangoon Road and Punggol Area, saw the highest increase of 17 percent.
For hotel / hospital uses, the DC rates have edged up 27 percent on average. The largest increase of 39 percent was seen in Sectors 1, 2 and 7, covering Church Street, Boon Tat Street, Cecil Street, Robinson Road and Shenton Way. Sectors 19 to 21, which cover Clemenceau Avenue and Havelock Road, as well as Sector 43, covering Tanglin Road and Cuscaden Road, also saw an increase of 39 percent.
For industrial or warehousing use, the DC rates jumped by about eight percent, with Sector 114 covering Tuas, Jurong and Woodlands, seeing the biggest increase of 20 percent.
Dr. Chua Yang Liang of Jones Lang LaSalle (JLL) commented, “The recent DC revision clearly echoes the property market trends over the past six months. The rates of increase across the island are largely within what Jones Lang LaSalle had earlier predicted. In places where we saw strong Government Land Sales, DC rate revisions were also the strongest, such as the commercial use group in Tanjong Pagar area and non-landed residential in Punggol.”