What if the housing developer is not able to complete the housing development within the 5-year period?
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It is required to submit an online application for variation of condition for an extension of time to complete the housing development. A non-refundable application fee is payable.
The extension charge payable for an extension of time is - 8% of the purchase price of the land for the first year extension, 16% for the second year of extension and 24% for the third and subsequent years.
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