07 Apr '17, 9am

Wong: URA grants exemptions on GFA | Property Market

View of apartment buildings in Singapore. The Urban Redevelopment Authority (URA) permits developers to exclude some spaces from the computation of the gross floor area (GFA) to achieve certain planning objectives, revealed National Development Minister Lawrence Wong. “For example, air conditioner ledges below one metre in width are exempted from GFA in order to encourage developers to house air conditioner condensers neatly in residential developments.” On the other hand, balconies are not excluded from the GFA, and developers must pay a development charge for them. When pricing units in their developments, he explained that developers factor in the strata area, which encompasses floor space sold to the buyer on the basis that it is for the buyer’s exclusive enjoyment. As balconies and air-con ledges solely serve individual units, they are considered part of the strata ar...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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