People today choose executive condominiums as one of their best options for housing. The majority of times, executive condominiums can be affordable for a number of families. In order to qualify for an Executive condominium, you will need to fulfill a few criteria. Knowing the process will make it easier. You can get the best guide on Altura EC showflat.

Documentation

You will be required to present different documents during the application. Documents that may be needed include marriage and birth certificates as well as NRICs. HR should check the documents to confirm that they match the HBD requirements.

Features of Executive Condominiums

Owning an executive condo has different benefits. Similar to a condo, it is a very popular choice. Owners can benefit from the same facilities as residents. A housing grant can be used by those applying for Executive condominiums to help with their purchase. The housing grant is only given to eligible individuals who did not apply for it at an earlier date.

The Executive Condominium is available for rent.

If you buy an Executive Condominium there will be rules that regulate how it can be used. One rule is that during MOP, the first five-year period you may not rent it out. MOP, or Minimum Occupation Period, is what it stands for. This period allows for the rental of other rooms located in your Executive Condominium.

Rules

Different rules and regulations govern the sale of an executive condominium. A MOP of at least five years is required. The MOP must be completed before any transaction. The five-year limit allows owners to resell their properties to permanent or non-permanent residents. In 10 years, foreigners are allowed to buy Executive Condominiums. It takes 30 months for you to be able to purchase another HBD flat.

In the country there are many properties that are being constructed. They are all prestigious. Many of the establishments offer many luxurious units. Some establishments include strata housing, and they’re usually exclusive. When possible, there are shops and child care centres included in the establishments to enhance the comfort of residents.