Is annual value of landed properties calculated based on land size or build-up. All things being equal, will the condo of X sqft have same annual value as a landed with land size X sqft.
Is annual value of landed properties calculated based on land size or build-up. All things being equal, will the condo of X sqft have same annual value as a landed with land size X sqft.
what is the annual value of a 1800 terr house in serangoon gardens
Less than 30000.Originally Posted by hutsutau
Would this change if the house was built to 3 storey.
Originally Posted by DC33_2008
It is not whether 2 or 3 storeys but the GFA.Originally Posted by Santro
so 1 storey terr pay the same as a rebuilt 3 storey house?Originally Posted by DC33_2008
The purpose of building 2 or 3 storey is to max out the GFA allowance. So for 3 storey terrace GFA will be higher.Originally Posted by hutsutau
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
According to the IRAS website the AV of a landed house is calculated based on the value of the freehold land.Originally Posted by Santro
It did not specify how the AV of 99y and 999y LH land are calculated.
So I think 1 storey or 3 storeys, the AV should be the same.
http://www.iras.gov.sg/irasHome/page04_ektid2110.aspx
"The Annual Value is determined at 5% of its estimated freehold market value."
For estate in fee simple, anything found on your land belongs to you.Originally Posted by buttercarp
Yes sir, you are right!Originally Posted by DC33_2008
So that's the highest form of land ownership.
Estate in perpetuity- if find treasure in it, it belongs to the state.
What is yours?Originally Posted by buttercarp
The AV of a property be it landed or non-landed is practically based on the average annual rental of similar properties within the same area. Not 5% of its market value...Originally Posted by buttercarp
So this 5% of market value of the land refers to vacant land?Originally Posted by Blue
http://www.iras.gov.sg/irasHome/page04_ektid2110.aspx
Yup, only applies to vacant land without buildings. But the irony part is, this method (5% of market value) will make the AV higher than the rental method.Originally Posted by buttercarp