Stamp duty exemption to revive abandoned housing projects

Presently, instruments of transfer and loan agreement executed by rescuing contractors or developers and original house purchases for the purpose of reviving an abandoned housing project are exempted from stamp duty. A revised residential property means a house, a condominium unit, an apartment or a flat of the abandoned project that has been revived and built as a dwelling house by the rescuing contractor or developer who is appointed or approved by the Minister of Housing and Local Government to carry out rehabilitation works for the abandoned project.

Based on the Budget 2018, it is proposed that these exemptions be extended to instruments of transfer and loan agreements executed by rescuing contractors and original house purchases from 1 Jan 2018 to 31 Dec 2020 for abandoned housing projects certified by the Ministry of Urban Wellbeing, Housing and Local Government.

For the loan agreements and instruments of transfer executed from 1 Jan 2018 to 31 Dec 2020 in relation to certified abandoned housing projects.

*Kindly refer to Budget 2018 for more detail information.