Development charge rates cut for non-landed residential use for a second time, but raised for commercial uses

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Development charge rates cut for non-landed residential use for a second time, but raised for commercial uses
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The government has again cut development charge rates for non-landed residential use amid a softer private residential market.. Read more at straitstimes.com.

SINGAPORE - The government has again cut development charge rates for non-landed residential use amid a softer private residential market.

The September revision has hiked DC rates for commercial use by 1.7 per cent on average after being lifted 9.8 per cent in March. DC rates for the use group that includes hotels and hospitals have remained unchanged following a 45.6 per cent rise in March.The National Development Ministry revises the rates on March 1 and Sept 1 each year, in consultation with the taxman's chief valuer.

Rates remain unchanged for landed residential, industrial and place of worship/civic and community institution uses as well as for three other land-use groups - nature reserves, agricultural land, drains, roads, railways and cemeteries.

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