Understanding the One Chuan Grove Payment Scheme

The basic idea: you pay as the building rises

Under the normal progressive payment scheme for private homes under construction, payments are linked to milestones. Early payments are made in cash and CPF when you book and sign, and your bank loan begins to disburse as construction moves through stages such as foundation, structural framework, walls, roofing and services. The final payments are made around TOP and legal completion.

For many households, this spreads the cost over the construction period. Your monthly mortgage payments usually start small and grow as more of the loan is drawn down.

Key stages in order

1. Option fee when you book a unit and receive the Option to Purchase.
2. Exercise of the option, with the balance of the initial payment, usually within a set period.
3. Construction milestones, each triggering a payment.
4. Temporary Occupation Permit (TOP), when you collect your keys.
5. Certificate of Statutory Completion and legal completion, with the final payments.

The ERA project highlights estimate completion at end 2030, but the TOP date for One Chuan Grove has not been announced, so the exact timing of later stages is not yet known.

Cash, CPF and loan: who pays what

Some payments must be in cash, some can be from CPF Ordinary Account savings, and the rest can be financed by a bank loan, subject to the loan limits that apply to you. The split depends on current rules and your personal situation, including any outstanding loans. A bank's In-Principle Approval and a conversation with your lawyer will confirm the details.

Alternative schemes

Some developers offer alternatives to the standard scheme, such as deferred payment arrangements, at their discretion and subject to regulations. Whether One Chuan Grove will offer any alternative is not known yet. If one is offered, compare the total price under each option, not just the payment timing.

Why the schedule matters for HDB upgraders

If you are selling an HDB flat to fund your purchase, the staged schedule can help, because the larger payments usually fall later in construction. Map your expected sale proceeds against the stages before you book, so you are never short when a payment notice arrives.

Planning tools

Use the progressive payment calculator to estimate how payments build up, and the mortgage calculator to estimate monthly instalments. For a wider view of buying decisions, see our buyer's guide.

Normal Payment Scheme (uncompleted private condo)