If you’re looking for a home that offers both luxury and affordability, the Novo Executive Condominium (EC) is a tempting option. However, it is essential to comprehend the Novo EC unit acquisition eligibility criteria prior to beginning the purchasing process. Novo EC stands out as a symbol of contemporary living, offering residents a harmonious blend of comfort, convenience, and style.
Age and Citizenship Requirements:
Singapore citizens or permanent residents are required for buyers to be eligible to purchase units at Novo EC. Furthermore, they should be no less than 21 years of age at the hour of utilization. Unless they apply under the Joint Singles Scheme with another Singaporean, non-citizens cannot purchase units at Novo EC.
Family Continuum:
The development of a family nucleus is yet another crucial eligibility requirement for purchasing a unit at Novo EC. The following are typical subcategories of this:
– Public Plan: Candidates should shape a family core comprising of a mate and youngsters (if any).
– Life partner/Life partner Plan: Couples who are lawfully hitched or aiming to get hitched can apply under this plan.
– Orphan Plan: Candidates who are unmarried and have unmarried kin, or single candidates matured 35 or more, can frame a family core with their kin.
– Joint Singles Plan: This program allows two single, unrelated individuals over the age of 35 to apply.
Pay Roof:
Planned purchasers should likewise meet the pay roof set by the Lodging and Improvement Board (HDB) to be qualified for buying a unit at Novo EC. The pay roof is resolved in view of the typical gross month to month family pay, everything being equal. The most recent guidelines set a monthly income ceiling for Novo EC at a certain amount.
Responsibility for Properties:
Candidates who presently own or have recently possessed private properties in Singapore or abroad might be dependent upon extra qualification conditions and limitations. These circumstances fluctuate contingent upon elements, for example, the kind of property possessed and the planning of the buy or deal.
Period of Minimum Occupation (MOP):
Upon fruitful acquisition of a unit at Novo EC, purchasers should stick to the Base Occupation Time frame (MOP) forced by HDB before they can sell or lease their unit on the open market. The MOP regularly goes from 5 to 10 years, during which purchasers are expected to dwell in the unit as their essential spot of home. With its array of amenities and thoughtfully designed spaces, Novo EC sets a new standard for modern condominium living, providing residents with an exceptional lifestyle experience.
