Payment Scheme

Normal Payment Scheme (NPS)

Also known as Progressive Payment Scheme, allows you to service your loan via monthly installments progressively stage by stage as the property is being built. The Progressive Payment Scheme deals with uncomplete houses/apartments that are in the process of being built. Being regarded as a Normal Payment Scheme, this scheme is a standard payment schedule for a new residential project under construction.  In other words, new home buyers make payments by installments, stage by stage, with each payment being made when a specific milestone of the building is reached. So you would pay the developers based on the progress of construction.

The Overall payment timeline can be divided into several stages including the down payment, foundation, reinforced concrete framework, and many more. One upside to the progressive payment scheme is the lower initial monthly repayments, you don’t start to pay the full costs until you can move in and enjoy the new home. You can use our Progressive Payment Calculator to have a better experience of the payment schedule. You can refer to the following table and video to get some better ideas.

StagePayment Under a Standard Payment Scheme (% of Purchase Price)
Upon the grant of Option to Purchase5% (Booking Fee)
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date20% less Booking Fee
Completion of foundation work10%
Completion of reinforced concrete framework of unit10%
Completion of partition walls of unit5%
Completion of roofing/ceiling of unit5%
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit5%
Completion of car park, roads and drains serving the housing project5%
Notice of Vacant Possession (TOP)25%
On Completion date15%

Book An Appointment to view Martin Modern Showflat and get the latest Direct Developer Sales Price, Developer Discounts, and Hardcopy Brochure. Guaranteed with The Best Price Possible. You are comfortably served by our well–trained Sale Team professionals. The good news is, there is NO ANY salesperson’s service fee or commission payable.

Alternatively, kindly please leave your contact details in the right for any enquiry related to Martin Modern. Strictly no spam policy. For urgent reach-out, please call us at 6504 0290.

error: Content is protected !!