I'm excited to introduce my Novo Place EC review, a fresh and dynamic Executive Condominium (EC) nestled in the heart of Tengah at Plantation Close, Singapore. Offering a blend of comfort and modern living in District 23, Novo Place EC is crafted with precision by Hoi Hup Realty and Sunway Development. This development spans approximately 16,441.2 m², boasting a strategic plot ratio of 2.8 and promising an exclusive lifestyle with its 508 units under a 99-year leasehold. Let's explore why Novo Place EC is not just a residence, but a cornerstone for the life you've always dreamed of in the burgeoning Tengah estate, blending the tranquility of nature with the convenience of modern amenities.
Novo Place EC presents an unparalleled opportunity to be part of Singapore's first "Forest Town," strategically positioned to redefine eco-friendly living without compromising on accessibility and urban conveniences. With the expected TOP date still under wraps, the anticipation for this landmark development continues to build. Let's dive deeper into what makes Novo Place EC a coveted address in Tengah and the vibrant District 23, uncovering the unique selling points, amenities, and lifestyle benefits that set this executive condo apart, promising a holistic living experience that's second to none.
Novo Place EC, a promising executive condominium development, is strategically located at Tengah Plantation Close, District 24. This 99-year leasehold property spans an estimated site area of 16,441.2 sqm with a plot ratio of 2.8, designed to accommodate a total of 508 units. The development is a collaborative effort by Hoi Hup Realty and Sunway Developments, renowned for their commitment to quality and innovation in real estate projects.
Novo Place EC location enjoys a prime location in Tengah District, nestled between Jurong East and Bukit Batok Districts, which positions it perfectly for easy access to a plethora of amenities. This executive condominium is ideally situated at Plantation Close, just a short stroll from the upcoming Tengah Park and Bukit Batok West MRT stations on the Jurong Regional Line, expected to enhance connectivity significantly.
Novo Place EC is a short distance from major business hubs like the Jurong Innovation District and Jurong Lake District, which are expected to drive significant economic activity and opportunities in the region. The development's location near Tengah New Town and the draft master plan announced by National Development Minister Lawrence Wong highlights its strategic positioning. This plan includes creating an evergreen forest town, provisions for ease of movement, and enabling a smart and sustainable town, which aligns well with the eco-friendly ethos of Novo Place EC.
The proximity to Tengah town center means residents have easy access to shopping malls, supermarkets, banks, waterparks, playgrounds, parks, nature reserves, cinemas, hospitals, polyclinics, temples, and community centers. Nearby educational institutions like Dulwich College (Singapore) offer excellent educational opportunities, making it an ideal location for families. This strategic location ensures that Novo Place EC residents can enjoy a blend of tranquility and modern conveniences, positioning this development as a pivotal hub in one of Singapore’s rapidly growing regions.
Novo Place EC stands out as an exceptional residential choice for several compelling reasons. Here are the unique selling points that make this executive condominium a top pick for homebuyers in Singapore.
Novo Place EC is not just about comfortable living spaces; it's about creating a lifestyle. With a community club, swimming pool, playgrounds, and beautifully landscaped gardens, the development fosters a vibrant community atmosphere. These facilities are designed to encourage social interaction and promote a healthy, active lifestyle.
The development offers an exclusive living experience with only four units per floor, ensuring privacy and a sense of exclusivity for the residents. Each unit is meticulously designed to maximize natural light and ventilation, creating a welcoming and comfortable environment. Additionally, smart home features in every unit add a layer of modern convenience and security, enhancing the living experience at Novo Place EC.
Being one of the limited supply of executive condominiums in the market, Novo Place EC offers a first-mover advantage to its residents. This aspect is particularly appealing in the burgeoning area of Tengah, where the demand for quality housing is expected to rise.
Novo Place EC is not only a place to call home but also a smart investment. Eligible first-time buyers can enjoy a CPF Grant of up to $30,000, and there's no Additional Buyer Stamp Duty for existing HDB owners, making it financially attractive. The development's proximity to essential amenities like shopping malls, healthcare facilities, and prestigious educational institutions further enhances its appeal.
Behind Novo Place EC are Hoi Hup Realty and Sunway Developments, developers renowned for their commitment to quality and innovation. Their track record in developing successful projects assures potential homeowners of the reliability and excellence in construction and design they can expect at Novo Place EC.
Living at Novo Place EC offers significant advantages for families, particularly in terms of education. The executive condo is strategically located near several top schools, enhancing the educational opportunities for children. These include Punggol Cove Primary School, Punggol Secondary School, Greendale Secondary School, Global Indian International School, and GEMS World Academy. The proximity to these educational institutions means that parents can be more involved in their children's schooling experiences, reducing the time and effort spent on transportation and increasing the safety of children with shorter commutes.
Novo Place EC is not just about individual amenities but also about fostering a strong community vibe. The close proximity to Tengah New Town and key districts like the Jurong Innovation District and Jurong Lake District positions it as a hub of activity and convenience. Residents benefit from nearby shopping centers, healthcare facilities, and recreational areas, making it a practical choice for modern living.
The area around Novo Place EC is rich in educational facilities, catering to all age groups from toddlers to young adults. This includes a variety of primary schools, secondary schools, a junior college, a polytechnic, and several childcare centers. This wide range of educational options ensures that families at Novo Place EC can provide their children with quality education right from their early years through to tertiary education, all within close proximity to their home.
Novo Place EC offers a diverse range of unit types to cater to various residential needs and preferences. Here's a detailed look at the options available:
>> Novo Place EC floor plans are available here.
The development will soon announce prices for the various unit types, which include 2-Bedroom, 2-Bedroom Deluxe, 3-Bedroom, 3-Bedroom + Study, 4-Bedroom, and 4-Bedroom + Study units. This range of options ensures that potential buyers can find a unit that best fits their lifestyle and budget, making Novo Place EC a versatile choice for many homebuyers.
Novo Place EC developers consist of a remarkable collaboration between Hoi Hup Realty Pte Ltd and Sunway Developments Pte Ltd, two giants in the real estate industry known for their commitment to delivering quality homes and innovative residential solutions. This partnership brings together extensive experience and a proven track record of success in developing dynamic living spaces that cater to modern lifestyles.
Hoi Hup Realty Pte Ltd & Sunway Developments Pte Ltd: These firms are not just developers but visionaries in the real estate sector. They have successfully completed over 900 quality homes and have an ongoing pipeline of more than 500 private residential units.
The strategic alliance of Hoi Hup Realty and Sunway Developments ensures that Novo Place EC will not only meet but exceed the expectations of potential homeowners looking for sustainability, comfort, and modernity in one package. Their well-established reputation in the market makes Novo Place EC a promising and reliable choice for your next home.
The recent policy adjustments enhancing the income ceiling to $16,000 and offering a CPF grant up to $30,000 for first-time buyers make Novo Place EC an attractive investment opportunity. Additionally, the absence of Additional Buyer Stamp Duty for existing HDB owners further sweetens the deal, providing significant financial relief and making the transition to executive condominiums more feasible.
Novo Place EC is strategically located in an area poised for substantial growth. The ongoing developments in the Tengah area, including the Jurong Innovation District, are set to significantly enhance the region's appeal and economic vibrancy. The master plan for Tengah, integrating smart technologies for a sustainable and connected community, aligns perfectly with the modern investor's priorities for innovative and future-ready living spaces.
Investing in properties like Novo Place EC requires a long-term perspective. It's widely acknowledged that properties in Singapore appreciate over time. Adopting a long-term investment strategy not only increases the chances of a successful investment but also capitalizes on the gradual growth in property values. Prospective investors should consider the location, amenities, budget, and regulatory environment as crucial factors in their investment decisions.
To navigate the complexities of the property market, engaging with professionals who specialize in executive condominiums like Novo Place EC can provide invaluable insights and advice. Keeping abreast of the latest market trends is essential for making informed decisions and maximizing investment returns.
To begin the journey towards owning a unit at Novo Place EC, potential buyers should first register for updates and indicate their preferred room type, whether it be 3, 4, or 5 bedrooms. It's crucial to prepare all necessary documentation in advance. Applicants must submit both the original and photocopies of all required documents for the application to buy an EC unit and for the CPF Housing Grant, if applicable. This includes completing a prescribed form provided by the developer at the point of booking.
The financial aspect of purchasing at Novo Place EC is aided by several incentives. First-time buyers can enjoy a CPF Grant of up to $30,000, and importantly, there is no Additional Buyer Stamp Duty for existing HDB owners. For financing, remember that ECs are not eligible for HDB loans; buyers must opt for a home loan in Singapore, where the maximum loan amount is 75% of the EC price. The minimum down payment is therefore 25%. Additional costs to consider include legal fees, approximately $2,000, valuation fees up to $200, and Buyer Stamp Duty, which ranges from 3% to 4% if the property price is between $1 million to $1.5 million.
For those interested in a more tangible experience, the showflat preview for Novo Place EC is expected around September or October 2024. Viewing is by appointment only, ensuring personalized attention to each potential buyer's needs. To check eligibility and discuss affordability, contact Cindy Ng at 9773 8372 or Eric Tan at 9788 1579.
Once purchased, all EC units, including those at Novo Place, have a Minimum Occupation Period (MOP) of 5 years before they can be sold in the open market. This rule ensures that ECs serve their primary purpose as homes rather than mere investment opportunities.
Through this exploration of Novo Place EC, it's evident that this executive condominium projects a promising blend of modern living with the tranquility of nature, making it an ideal residence for those seeking comfort and a dynamic lifestyle within Singapore's first "Forest Town." Positioned strategically in Tengah Plantation Close, Novo Place stands out with its comprehensive amenities, eco-friendly living environment, and innovative design, underpinned by the reputable names of Hoi Hup Realty and Sunway Developments. These qualities not only ensure a high standard of living but also highlight the potential of Novo Place EC as a sound investment in the rapidly developing area of Tengah.
Considering the extensive benefits and unique lifestyle that Novo Place EC offers, taking the next step towards acquiring a piece of this promising development is a journey worth embarking on. With the anticipation building for its launch and the extensive insights shared, those interested in making Novo Place their home should seize the opportunity to connect with the developers. Click on the WhatsApp button to get started, and join the evolving community set to experience the pinnacle of eco-conscious and modern living in one of Singapore’s most innovative towns.
The highest bid for the land at Tengah Plantation was $701 per square foot per plot ratio (psf ppr), which met the expectations of most market analysts. This bid of $423.4 million was placed by Hoi H up Realty and Sunway Developments, who were also successful in securing an adjacent Executive Condominium (EC) site in Plantation Close at $703 psf ppr earlier in 2023.
The Executive Condominium in Tengah is named Copen Grand EC. It is located in a prime area within Tengah's new township, which is part of the Urban Redevelopment Authority (URA) of Singapore's latest Master Plan. The plan includes numerous green features and enhancements, making it a desirable location.