Govt revises development charges, geographical sector boundaries
The Ministry of National Development, in consultation with the Chief Valuer, has revised the rates of development charges (DC) together with the geographical sector boundaries for the period 1 September 2008 to 28 February 2009.
The Chief Valuer has taken into account the current market values in the half-yearly review of the rates.
Islandwide, the average DC rates for residential (non-landed) use decreased by 6 per cent, industry/warehouse use rates increased by 0.1 per cent, while the change in Business Zone Commercial use rates is negligible.
Boundaries of some geographical sectors have been re-demarcated to better reflect current market values based on existing physical ground conditions.
Source : Channel NewsAsia - 29 Aug 2008
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