buy back scheme hdb 210 24

The HDB Lease Buyback Plan is a government initiative that enables aged HDB flat proprietors in Singapore to offer a portion of their flat's lease back again to HDB to nutritional supplement their retirement revenue. Being eligible, all proprietors need to be at least 65 several years outdated, and the flat will need to have at the least twenty years of remaining lease. The gross monthly home revenue for all house owners will have to not exceed $fourteen,000. Underneath the plan, HDB purchases again a percentage of the flat's lease, and get more info the owner is then offered a refreshing lease of 30 a long time, or approximately 95 several years, dependant upon their age. The proceeds with the sale are utilized to top rated up their CPF Retirement Account, which consequently delivers a regular profits stream by CPF Lifetime. The flat need to be operator-occupied for that length of the new lease. The scheme presents a lump sum hard cash reward of approximately $20,000 for those who qualify, and it is a substitute for downgrading to the scaled-down flat to monetize their current home.