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Novo Place Executive Condo

The Complete Buyer’s Guide to Novo Place EC, Tengah Plantation Close in 2024

Novo Place EC: A Premier Executive Condo in Tengah Plantation Close

In the heart of Tengah, Novo Place EC, an upcoming EC in Singapore, is set to emerge as a premier executive condo with its launch in 2024. This 99-year leasehold development within Tengah Plantation Close is poised to redefine luxury in Tengah's new condo landscape, offering a unique blend of modernity and nature. As an EC launch slated for 2024, it stands out as a prime choice for prospective homeowners looking for the latest in luxury and convenience.

The Vision of Tengah District

Tengah District, Singapore's pioneering smart and sustainable new town, is set to revolutionize urban living with its unique design and forward-thinking infrastructure. Planned to house approximately 42,000 homes across five distinct districts, including the Garden District, it focuses on communal living and green spaces, setting a new benchmark for residential areas.

Key Features of Tengah District

Smart and Sustainable Design

Tengah is designed to be Singapore's first car-free town center, emphasizing pedestrian-friendly spaces and a reduced carbon footprint. The town will incorporate smart technologies to enhance residents' quality of life while minimizing environmental impact, making it a model for future urban planning.

Connectivity and Green Spaces

The district will boast a 100m-wide, 5km-long Forest Corridor, linking it to surrounding nature reserves, and the planned MRT station will ensure Tengah's connectivity to the rest of Singapore. This green spine supports biodiversity and acts as a green lung for the town, making it a highly accessible and environmentally friendly place to live.

Community-Centric Living

With a focus on fostering community ties, Tengah's layout prioritizes communal areas. Facilities such as schools, shopping centers, and community clubs are strategically placed, promoting a strong sense of community among residents.

Innovative Residential Concepts

The housing in Tengah integrates smart technologies and eco-friendly designs, including smart energy management systems. With extensive cycling and walking paths, the majority of residents are just a short walk away from public transport facilities, further promoting a green lifestyle.

Economic and Recreational Opportunities

Proximity to the Jurong Innovation District and Jurong Lake District, Singapore’s second Central Business District, positions Tengah as a hub for economic growth and job opportunities. The Central Park and various community farms and parks will provide ample recreational options, enhancing the living experience in Tengah.

A Look Inside Novo Place EC

Unit and Development Features

Novo Place EC, developed by Hoi Hup Realty and Sunway Developments, is a 99-year leasehold executive condominium at Tengah Plantation Close. Offering 508 units, it blends luxury with affordability, tailored for middle-income families in Singapore, showcasing Hoi Hup’s commitment to quality and sustainable living.

Unit Distribution and Size

  • Total Units: 508
  • Unit Types: Various, details to be confirmed
  • Size Range: To be announced

Amenities and Facilities

  • Recreational Facilities: Includes a lap pool, children's pool, jacuzzi, gym, function room, and BBQ pits.
  • Eco-friendly Features: Features such as rainwater harvesting systems and energy-efficient appliances.
  • Security: Enhanced with 24/7 surveillance, CCTV, access control systems, and intercoms.

Accessibility and Connectivity

  • Proximity to MRT: 1-minute walk to future Tengah Park MRT (250m).
  • Road Access: Near major expressways like PIE and AYE.
  • Public Transport: Seamless connectivity via the upcoming Jurong Region Line.

Nearby Amenities and Lifestyle Options

The strategic location of Novo Place EC ensures that residents have easy access to a myriad of amenities and lifestyle options.

Educational Institutions

  • Nearby schools include Choa Chu Kang Primary, Swiss Cottage Secondary, and Pioneer Junior College.
  • The Rainbow Centre, catering to children with disabilities, is also close by.

Shopping and Dining

  • Shopping Malls: JEM, Westgate, and IMM are within a short driving distance.
  • Dining: A variety of food options from Jurong East Hawker Centre to upscale restaurants.

Leisure and Recreation

  • Proximity to Jurong Lake Gardens and the proposed Central Park in Tengah offers ample recreational spaces.
  • Jurong Lake District nearby, poised to become Singapore's second Central Business District, provides extensive shopping and entertainment options.

Investment Potential and Future Growth

Novo Place EC not only serves as a comfortable home but also as a promising investment in an executive condominium. Post the 10-year Minimum Occupation Period (MOP), the units become privatized, opening up to foreign buyers and potentially appreciating in value. The development's proximity to key economic hubs like Jurong Innovation District enhances job opportunities, adding to its investment allure.

Connectivity and Accessibility

Proximity to MRT Stations

Novo Place EC boasts exceptional connectivity due to its proximity to multiple MRT stations on the Jurong Region Line. Most notably, it is a mere 2-minute walk from the Tengah Park MRT Station, enhancing accessibility to various parts of Singapore.

Access to Major Expressways

Residents at Novo Place EC benefit from easy access to several major expressways. The Pan Island Expressway (PIE), Kranji Expressway (KJE), and Bukit Timah Expressway (BKE) are all conveniently located near the development. This network of expressways facilitates quick and easy travel across Singapore, making it ideal for residents who commute by car.

Public Transport Options

The area around Novo Place EC is well-served by numerous bus services along Bukit Batok Road and Plantation Close, connecting to the Tengah bus interchange. These routes provide residents with additional options for public transportation, ensuring that connectivity is never an issue.

Strategic Location Near Business Hubs

Strategically located, Novo Place EC is close to two major business hubs: the Jurong Lake District and the Jurong Innovation District. These areas are known for their vibrant business and leisure facilities, offering ample employment opportunities and lifestyle amenities to residents.

By integrating top-notch transport facilities and strategic location advantages, Novo Place EC stands out as a prime residential choice for those who value convenience and accessibility in their daily lives, thanks to its robust transportation infrastructure.

Investment and Future Growth

Financial Incentives and Growth Potential

Novo Place EC and Tengah Plantation Close EC present compelling investment opportunities, particularly for first-time buyers and existing HDB owners, highlighting the financial benefits and future growth prospects, including insights into the HDB tender result.

Attractive Pricing and Grants

  • The estimated launch price for units at Novo Place EC, reflecting a competitive tender price, is approximately $1,5xx per square foot, making it an attractive entry point into the private property market.
  • First-time buyers, including those transitioning from HDB, are eligible for a CPF grant of up to $30,000, significantly easing the financial burden of acquiring a new home.

Favorable Payment Schemes

  • Two payment options are available to suit different financial situations: the Normal Payment Scheme (NPS) and the Deferred Payment Scheme (DPS), offering flexibility in managing cash flow.

No Additional Buyer Stamp Duty

  • Existing HDB owners looking to upgrade to an EC do not have to pay the Additional Buyer Stamp Duty, making the transition more financially accessible.

Long-Term Appreciation Potential

The strategic location of these developments near key business hubs like the Jurong Lake District and Jurong Innovation District enhances their long-term growth potential.

Proximity to Economic Hubs

  • Being close to major business districts supports robust employment opportunities and recreational options, increasing the attractiveness of the area for long-term residential and investment prospects.

Development Timelines and Unit Availability

  • Novo Place EC is set to launch in Q4 2024 with 508 units, while Tengah Plantation Close EC 2 is expected to launch around 3Q 2025 with an estimated 560 units, offering a variety of choices for potential investors and residents, reflecting the developers' commitment as indicated by the tender process.

Land Appreciation

  • The land cost for these projects stands at $703 per square foot per plot ratio for Novo Place EC and $701 for Tengah Plantation Close EC 2, indicating a significant investment by the developers and potential for appreciation in value, aligning with the competitive tender landscape.

By understanding these key financial and strategic elements, investors and homebuyers can make informed decisions, leveraging the growth trajectory of Singapore’s newest EC developments.

Conclusion

Throughout this article, we have journeyed through the remarkable aspects of Novo Place EC and the visionary ethos of the Tengah District, underscoring the unparalleled blend of modern living and sustainable development that awaits potential homeowners and investors. The strategic location, coupled with a focus on green living and connectivity, positions Novo Place EC as a prime choice in Tengah Plantation Close, promising a future where nature and urbanity exist in harmony. This exploration has also shed light on the significant potential for investment, heightened by the development's array of amenities, connectivity options, and its alignment with Singapore’s vision for a smarter, sustainable future.

As we conclude, it's evident that Novo Place EC is more than just a residential development; it's a step into the future of living, where community, sustainability, and technology converge to create an unparalleled living experience. For those considering calling Novo Place EC home or looking at it as an investment opportunity, the development represents a unique proposition in Singapore's evolving urban landscape, promising both a vibrant lifestyle and the potential for significant growth and appreciation. This guide has provided a comprehensive overview, yet the true essence of Novo Place EC and the Tengah District awaits to be experienced firsthand, marking a new chapter in the pursuit of integrated, sustainable living.

FAQ

What are the nearby educational institutions at Tengah EC?

Primary Schools: ACS (Primary), Pioneer Primary School, Bukit View Primary School, Shuqun Primary School, Princess Elizabeth Primary School.

Secondary and Higher Education: Pioneer Junior College, Jurong Junior College.

Tertiary Institutions: Nanyang Technological University.

Can you list some nearby shopping and dining options?

Shopping Malls: Westmall, JEM, Westgate, IMM Outlet Mall, Jurong Point Shopping Centre, Clementi Mall.

Local Dining: Plantation Street Food Centre, Hawker Chan, Tengah Garden Brunch, Ocean Seafood Restaurant, Spice Junction, GreenLeaf Cafe.

What public transport options are available near Tengah EC?

MRT Stations: Tengah Park and Bukit Batok West MRT stations.

Bus Services: Extensive bus network serving the area.

What are the lifestyle and community facilities at Tengah EC?

Recreational Facilities: Swimming pools, state-of-the-art gym, children’s play zones, communal dining areas, sky gardens, running and walking paths, barbeque pavilions, reading nooks, function rooms.

Community Facilities: Community gardens, fitness centres, clubs.

What healthcare services are available near Tengah EC?

Clinics and Hospitals: Bukit Batok Polyclinic, Jurong Polyclinic, Ng Teng Fong Hospital.

What are the eco-friendly features at Tengah EC?

Tengah EC promotes eco-friendly living with features like innovative smart home features, extensive green spaces, and energy-efficient systems integrated into the development's design, including a centralised cooling system and a pneumatic waste conveyance system, setting a new standard for sustainable urban living.

Get First-Hand Information on Novo Place Executive Condominium

Arrange a quick 10-minute consultation with our Novo Place Developer Sales Team to find out if you're eligible for purchase. We will also be sending updates to our clients immediately once the Developer makes any announcements.

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