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The Annual Worth of a property is usually derived primarily based on the estimated annual rent that it might fetch if it have been rented out. In figuring out the Annual Value of a property, IRAS will take into account the rentals of comparable properties in the neighborhood, size and situation of the property, and other related factors. The Annual Worth of a property is set in the identical manner regardless of whether the property is let-out, owner-occupied or vacant. The Annual Value of land is set at 5% of the market worth of the land. When a building is demolished, the Annual Value of the land is assessed by this technique. Property Tax on Residential Properties Buyer Stamp Obligation on Purchase of Properties – Business and residential properties Rent Home District 01

Borrowers who presently own only one residential property(but with the intention of promoting it) and are acquiring a second housing loan for the acquisition of one other property which is an Govt Condominium (EC) purchased directly from a property developer or a HDB flat might be treated as people with no excellent housing loans. In an effort to avail themselves of such concessionary remedy, they should provide the financial institution granting the mortgage for the acquisition of the second property a replica of the signed undertaking to HDB committing to finish the sale of his sole present property within the interval stipulated in the undertaking.