Yahoo Finance 
Fernvale flat buyers will not get full refund: HDB
Flat buyers who want to cancel their bookings for their Build-To-Order (BTO) flats in Fernvale will not get a full refund of their payment, HDB said in media reports on Monday.
Notably, of the 4,000 units located near the three BTO projects at Fernvale Link, HDB has received 95 requests for cancellation of bookings with refund as of 9 February.
HDB explained flat buyers who want to cancel their application prior to the signing of the Agreement of Lease will forfeit their paid option fee, while those who cancel their application after the signing of the agreement will forfeit five percent of the acquisition price of the booked flat.
With this, HDB has given flat buyers until 27 February to inform the board of their final decision on the cancellation of their application.
Previously, residents had protested plans to build a columbarium in the Chinese temple designated at a plot of land situated near the three Fernvale Link projects, with many saying they were unaware of the plans.
On 29 January, National Development Minister Khaw Boon Wan said the site was not meant for a commercial columbarium. He also said his ministry will ensure that the tender for the Sengkang site is restored to its original plan of a Chinese temple.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories emailmuneerah@propertyguru.com.sg
More from PropertyGuru:
Woodlands EC site awarded to Hao Yuan Investment
Housing type among eligibility factors for Silver Support
In Pictures: CapitaLand Spring Festival Celebrations
Are Thailand prices set to decline?
