Earlier in the month, I wrote a post on a summary guide to some of the big developers listed in the stock market. You can view the post here.
In the recent weekend edition of the edge, they come up with a good summary guide for the impact of the extension charges in a worst case scenario for all the developers. It's interesting to note on some of these things but first let's take a recap of what is these extension charges all about.
Under the Residential Development Act, developers are required to obtain a qualifying certificate when they develop a project. These developers are then allowed 5 years to complete a project and a further 2 years to sell it upon receiving the TOP. Should they fail to do so within the allotted time, they would be liable for the extension charges under the QC rule. Developers ......