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Development charges rise for commercial and industrial use

Published on Feb 28, 2013 6:07 PM
 
The skyline of the Central Business District in Singapore. Development charges, which are the rates that developers pay to enhance the use of a land plot, have shot up for the commercial, industrial, hotel and hospital sectors. -- FILE PHOTO: REUTERS

Development charges, which are the rates that developers pay to enhance the use of a land plot, have shot up for the commercial, industrial, hotel and hospital sectors.

However, the charges for residential non-landed sites stayed flat.

They are reviewed every six months and were released today. The new rates take effect tomorrow.

For the commercial sector, the average increase is 24 per cent. The highest increase was 39 per cent in Yishun, Sembawang, Woodlands, Choa Chu Kang and Jurong West.

 
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