Why Wynwood Grand can offer two payment schemes
Executive condominiums are sold under the Housing Developers rules, so buyers pay the price in instalments tied to construction progress rather than in one sum. The standard route is the Normal Progressive Payment Scheme (NPPS). Developers of older-rule ECs may also offer a Deferred Payment Scheme (DPS), where most of the price is pushed back to completion.
The 8 May 2026 policy change removed DPS for EC sites tendered on or after that date, alongside the move to a 10-year MOP and a 90% first-timer quota. Wynwood Grand’s tender closed on 5 August 2025 and was awarded on 26 August 2025, so it is grandfathered under the old framework. Only a few awarded sites, including Woodlands Drive 17 Plots 1 and 2, Senja Close, Sembawang Road and Miltonia Close, remain in this position. Whether CDL actually offers DPS, and on what terms, is confirmed at launch; the figures below reflect how DPS has typically been structured on recent ECs.
Normal Progressive Payment Scheme, stage by stage
Under NPPS you pay 20% of the purchase price in the first two months, then instalments as each construction milestone is certified by the project architect. The bank disburses the loan portion of each instalment once your own cash and CPF contributions are used up. Interest is only charged on the amount drawn, so monthly repayments start small and rise as construction progresses.
- 1
5% on booking
Option fee paid in cash when you book the unit and receive the Option to Purchase.
- 2
15% within 8 weeks
Paid on exercising the option and signing the Sale and Purchase Agreement. Cash or CPF Ordinary Account. Buyer’s Stamp Duty is also due within 14 days of signing.
- 3
10% foundation
Completion of foundation works.
- 4
10% reinforced concrete framework
Completion of the structural frame of the unit.
- 5
5% brick walls
Completion of the partition walls of the unit.
- 6
5% ceiling / roof
Completion of the roofing or ceiling of the unit.
- 7
5% doors, windows, plumbing, electrical
Completion of door and window frames, electrical wiring, internal plastering and plumbing.
- 8
5% car park, roads and drains
Completion of car park, roads and drains serving the development.
- 9
25% at TOP
On notice of vacant possession when the Temporary Occupation Permit is issued. You collect keys at this point.
- 10
15% at CSC
Final payment on the Certificate of Statutory Completion; part is typically held by your lawyer as a defects retention under the standard terms.
Deferred Payment Scheme: how it differs
DPS keeps the same 20% upfront commitment but replaces the construction-stage instalments with a single large payment at TOP. In the structure seen on recent ECs, 65% falls due at TOP and the final 15% at CSC. The price is usually set about 3% higher than the NPPS price for the same unit, which is effectively the cost of the developer carrying the project for you. Your bank loan is typically applied for and drawn down close to TOP rather than at the S&P stage.
| Stage | Normal Progressive | Deferred Payment |
|---|---|---|
| Booking (option fee) | 5% | 5% |
| Signing S&P (within 8 weeks) | 15% | 15% |
| Foundation | 10% | — |
| RC framework | 10% | — |
| Brick walls | 5% | — |
| Ceiling / roof | 5% | — |
| Doors, windows, plumbing, electrical | 5% | — |
| Car park, roads, drains | 5% | — |
| TOP | 25% | 65% |
| CSC | 15% | 15% |
| Price premium | None | Typically ~3% |
DPS has been popular. Our fact sheet records that more than half of recent EC buyers chose it, including about 72% at Otto Place, roughly 80% at Novo Place and about 85% at Coastal Cabana. The main driver is HDB upgraders who are still paying for their flat and prefer not to service two loans during construction.
Cash versus CPF at each stage
- The 5% option fee must be paid in cash. This is the only stage where CPF cannot be used.
- The 15% on signing the S&P can come from cash or CPF Ordinary Account savings. Under the 75% loan-to-value rule, the 25% not financed by the bank must include at least 5% cash; the remaining 20% can be CPF OA.
- Buyer’s Stamp Duty and legal fees can usually be paid from CPF OA, subject to CPF Board limits.
- Construction-stage instalments (NPPS) and the TOP and CSC payments are drawn from the bank loan once your cash and CPF contributions are exhausted. Monthly loan repayments can be serviced from CPF OA.
- If you are selling an HDB flat, the sale proceeds and refunded CPF are typically only available after you move out. Under EC rules the flat must be disposed of within 6 months of TOP, which is one reason DPS appeals to upgraders.
Estimate your payment schedule
Enter an indicative purchase price to see the dollar amount due at each stage under both schemes. Prices for Wynwood Grand are not yet released; analyst estimates of about S$1,750–2,000 psf are for scenario planning only.
Progressive payment schedule
Total payable
S$1,600,000
Paid before construction stages begin
S$320,000
Deferred to TOP and CSC
S$640,000
| Stage | Share | Amount | When |
|---|---|---|---|
| Option fee (booking) | 5% | S$80,000 | Booking day |
| Signing the Sale & Purchase Agreement | 15% | S$240,000 | Within 8 weeks of booking |
| Completion of foundation | 10% | S$160,000 | Construction |
| Reinforced-concrete framework | 10% | S$160,000 | Construction |
| Brick walls | 5% | S$80,000 | Construction |
| Ceiling and roofing | 5% | S$80,000 | Construction |
| Doors, windows, wiring and plumbing | 5% | S$80,000 | Construction |
| Car park, roads and drains | 5% | S$80,000 | Construction |
| Temporary Occupation Permit (TOP) | 25% | S$400,000 | Keys collected |
| Certificate of Statutory Completion | 15% | S$240,000 | About 12 months after TOP |
Stage percentages follow the standard Singapore progressive payment schedule for uncompleted private housing and ECs; CDL’s actual Sale & Purchase terms prevail. Loan disbursement normally starts from the foundation stage.