Core Conditions
A company in housing development must commence work within two years of acquisition and complete and sell all four or fewer homes within three years. Current developer ABSD is 40%: 35% may be remitted upfront, while 5% is non-remittable and payable within 14 days. Development intention must exist at purchase; an entity that paid ordinary 65% ABSD cannot subsequently elect developer treatment merely by changing plans.
Undertakings and Clawback
Upload the prescribed undertaking and maintain work, TOP/CSC and sale evidence. Unsold-unit details are required within three years and one month where applicable. Failure can trigger recovery of remitted ABSD with 5% annual interest from 14 days after acquisition. Trustee and holding-company conveyance directions have additional undertakings, ownership and two-month direction conditions. Pandemic extensions apply only to their specified historical cohorts.
Official Source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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