Artist’s impressionHow the Instalments Follow the Build at Vela Bay
Buyers at Vela Bay pay under the normal progressive payment scheme, so the price is not settled in one go. A booking fee comes first, when the option to purchase is granted; a second sum follows with the sale and purchase agreement; after that, one instalment is called each time a stage of the towers is certified, ending at the Certificate of Statutory Completion.
As at October 2026, both the stages and the slice of the price attached to each are laid down by the Housing Developers Rules. Read across the table, every row shows what one stage costs and how much of the price has been paid in total once it is reached.
| Stage | % of price | Cumulative |
|---|---|---|
| Booking fee, on the grant of the option to purchase | 5% | 5% |
| Sale and purchase agreement, within 8 weeks | 15% | 20% |
| Completion of foundation | 10% | 30% |
| Completion of reinforced concrete framework | 10% | 40% |
| Completion of partition walls | 5% | 45% |
| Completion of roofing and ceiling | 5% | 50% |
| Completion of doors, windows, electrical wiring and plumbing | 5% | 55% |
| Completion of car park, roads and drains | 5% | 60% |
| Temporary Occupation Permit (TOP) | 25% | 85% |
| Certificate of Statutory Completion | 15% | 100% |
Schedule laid down by the Housing Developers Rules for homes sold before completion, as checked on 22 October 2026.
Cash, CPF and the Buyer’s Share at Vela Bay
The booking fee of 5% has to be paid in cash. Everything else the buyer contributes is also paid before the bank releases any loan money, and it is MAS that decides how much of that contribution must be cash. Someone with no other housing loan can borrow as much as 75% of the price, leaving 25% to find personally: cash must make up at least 5% of the price, a share the booking fee already covers, while the other 20% can be cash, CPF Ordinary Account savings or a mix of the two, subject to CPF limits.
Stricter limits apply where the buyer is still repaying another housing loan, and where the new loan would last longer than 30 years or continue beyond the borrower’s 65th birthday.
| Borrower | Max loan | Own funds | Minimum cash |
|---|---|---|---|
| No outstanding housing loan | 75% | 25% | 5% |
| No outstanding loan, tenure over 30 years or past age 65 | 55% | 45% | 10% |
| One outstanding housing loan | 45% | 55% | 25% |
| Two or more outstanding housing loans | 35% | 65% | 25% |
Loan limits per MAS, last checked on 22 October 2026. MAS may revise them, and the lending bank confirms what applies before anything is signed.
When the Bank Steps In at Vela Bay
Take a 75% loan. Once the booking fee and the 15% payable with the sale and purchase agreement are in, the buyer has paid 20% of the price. The foundation stage is worth 10%, and the buyer funds the first half of it, which completes the 25% own share; every certified stage after that is met by the bank from the loan.
Each certified stage triggers a notice from the developer, and the bank settles the instalment. Because interest runs only on what has been released, monthly repayments are modest at first and climb as the Vela Bay towers rise. When the lower loan limits come into play is explained on the housing loan page for Vela Bay.
In the lower band a first loan is capped at 55%, so the buyer’s own share grows to 45% of the price, with cash making up at least 10% of the price, and the bank’s payments begin further down the schedule. A buyer with a housing loan still outstanding contributes a larger share again before any loan money is drawn.
Booking at Vela Bay after Some Stages Are Certified
Construction at Vela Bay is under way, so a stage may have been certified before a particular home is booked. Any instalment already due is then paid to the timetable in the sale and purchase agreement, which normally means more money at the outset than the booking fee and the agreement payment alone.
Which stages a given home has passed is something the Sales Concierge confirms, together with a payment schedule prepared from the price list; the list is sent on request and is not published on this site.
Stamp Duty and the Last Two Instalments at Vela Bay
Stamp duty sits outside the instalment schedule and is due early. Buyer’s Stamp Duty, plus any Additional Buyer’s Stamp Duty, has to be paid no later than 14 days after the sale and purchase agreement, alongside the booking fee and well ahead of the first loan drawdown. Bands and rates are listed on the stamp duty rates page.
The largest instalments close the schedule: 25% of the price when the Temporary Occupation Permit is issued and the remaining 15% at the Certificate of Statutory Completion. According to the developer, vacant possession is expected by 31 December 2031 and legal completion by 31 December 2034. For any price and loan, the progressive payment calculator gives the amount and an estimated monthly instalment at every stage. Showflat viewings are arranged by appointment through the Sales Concierge.
General information as at the date shown, not financial, legal or tax advice. Particulars of Vela Bay come from the developer’s published particulars, brochure, plans and agents’ briefing; statutory figures are those on this site’s financing pages, and distances are straight lines measured on OneMap. Sources: the Housing Developers Rules schedule and MAS loan limits as set out on this site’s payment scheme and housing loan pages, and the developer’s particulars.
Ask the Sales Concierge about Vela Bay
The Sales Concierge sends the price list on request, the homes still available and the e-brochure for Vela Bay. Showflat viewings are arranged by appointment through the Sales Concierge.