Chuan Grove GLS

The research read

Chuan Grove GLS is an upcoming 99-year leasehold condominium of about 1,055 units on Lorong Chuan, District 19 (OCR), by a Sing Holdings and Sunway Developments joint venture. The land was assembled across two adjacent Government Land Sale plots awarded in July and September 2025, blending to roughly $1,355 psf ppr. Preview is targeted for Q1 2027 (est.), with TOP around 2031 (est.).

Three structural facts separate this site from the rest of the 2026–27 pipeline. It is the only site in the current Lorong Chuan cycle where one joint venture won both adjacent parcels and intends to develop them as a single scheme, which puts the entire supply of new land in the micro-market under one pricing decision. Lorong Chuan MRT (CC14) sits about 440m away on a Circle Line that closed its full loop in July 2026, reaching the Serangoon and Bishan interchanges one stop in either direction. And Chuan Park, 916 units directly across the road, is roughly 97% sold and resells around $2,596 psf on our tracked data — a live, same-street benchmark rather than a forecast.

Schools and a station are the easy part of the story. The arithmetic is the rest of it: what the developer needs to charge given what it paid, whether that number clears the same-street resale it has to compete with, and what 1,055 units do to the corridor at TOP. "Chuan Grove GLS" is the working name we track the site under while the official project name is unreleased.

Two tenders, one scheme: where the land came from

Most GLS stories end at the award notice. This one does not, because the second tender is what makes the first one interesting.

1. Jul 2025Parcel 1 awarded — $703.6M$1,376 psf ppr, seven bids, a top bid about 7.3% above the next. Roughly 555 units on the tender's own estimate.
2. Sep 2025Parcel 2 awarded — $623.9M$1,331 psf ppr to the same joint venture, five bids, a winning margin of about 2.9%. Roughly 505 units. A thinner field and a lower rate two months later.
3. Feb 2026Amalgamation disclosedSing Holdings tells the market it holds in-principle approval to harmonise the two land tenures and build one scheme of about 1,055 units across five blocks of up to 27 storeys. Final regulatory approval is not yet confirmed.
4. 2H 2026Construction startConfirmed in the same filing, and confirmed independently of the amalgamation approval.

For a buyer, that cuts two ways. Winning the second parcel more cheaply, against a thinner field, hands the developer a blended rate below what it paid first — the arithmetic that produces the $1,355 figure everything below is built on. But controlling both parcels also means there is no competing new supply on this street to undercut. A developer that owns the whole of the new micro-market has a structural reason to defend the benchmark rather than break it, which is good for a buyer's downside and unhelpful for anyone waiting for a launch discount.

From $1,355 psf ppr to a launch price

The land price is the one number that is already fixed, so any honest estimate starts there. At a blended $1,355 psf ppr, Chuan Grove sits in the upper half of the OCR land-cost band of the last two years — above the other District 19 site in the pipeline, and close to a Rest of Central Region award.

Land is one line of the cost stack. Adding construction, professional fees, financing and marketing to the land cost gives an estimated breakeven of about $2,451 psf ppr; applying the 1.15–1.30 developer margin band we use on every project on this site produces an indicative launch range of $2,820–$3,190 psf. The full working is set out in our pricing methodology. Note what a high land cost does and does not do. It raises the floor under the price and leaves little room to discount into a soft market, but it does not guarantee that the market pays the top of the band. A developer that overpays for land has a problem, not a pricing right.

Connectivity that is already running

• Lorong Chuan (CC14), about 440m — a 7-minute walk (est., verify with OneMap or on foot). Running since 2009. This is the part of the case that needs no forecast.
• Serangoon (CC13 / NE12), one stop. North East Line to the CBD and Punggol, and NEX — one of the larger suburban malls in Singapore — at the concourse.
• Bishan (CC15 / NS17), one stop the other way. North South Line to Orchard, the CBD and the north.
• Circle Line Stage 6 opened 12 July 2026, closing the loop through Keppel, Cantonment and Prince Edward Road and cutting city-side journey times from CC14 without a transfer at Dhoby Ghaut.
• By road, the Central Expressway is a street away, putting the Central Area within roughly a 10-minute drive outside peak.

The discipline we apply to any un-opened line is to ask what holds if it slips. Here there is nothing to slip: every element above is operating. That is unusual in a pipeline where most connectivity arguments rest on a line targeted for 2030 or later, and it is the single most defensible thing about this address. The reverse of the same coin is that there is no future-line re-rating still to be collected either — whatever the network is worth here, the market has had since July 2026 to price it.

Catalysts in an estate that is already finished

• Circle Line Stage 6, opened 12 July 2026. Delivered, not pipeline. The only dated network catalyst that touches this site, and it has already happened.
• NTP+ Mall at New Tech Park, redeveloped 2021. Retail, dining and a supermarket immediately adjacent, plus an office population that supports the local tenant pool.
• Chuan Park's own completion, around 2027–28. 916 new households arriving across the road lift footfall and, in time, the trading evidence this corridor is priced on.

Lorong Chuan is a mature 1980s-vintage estate, and the catalyst list should be read that way. There is no Tengah, Bidadari or Greater Southern Waterfront masterplan attached to it, no funded township plan, and no URA growth corridor designation. The catalyst list is one completed rail upgrade and one completed mall — both already in the price. There is no transformation story here that could be told honestly. What the site offers instead is the opposite quality: amenities that exist now, and no execution risk on the surrounding estate.

The schools question, answered with the ballot data

Four MOE primary schools fall within about a kilometre of the site on our own dataset: St. Gabriel's Primary (~0.31km), Kuo Chuan Presbyterian Primary (~0.57km), CHIJ Our Lady of Good Counsel (~0.92km) and Yangzheng Primary (~0.94km), with First Toa Payoh, Townsville, Zhonghua, Pei Chun and Catholic High in the 1–2km band. These are straight-line distances computed from OneMap geocodes. MOE registers priority on its own measured basis, and against a final postal address this site does not yet have, so confirm the current band on MOE SchoolFinder before anchoring a decision on it.

What proximity buys, and what it does not, shows up in the ballot record. In the 2025 P1 exercise Kuo Chuan Presbyterian balloted at Phase 2C with 113 applicants for 59 vacancies, and the ballot ran among Singapore Citizens living within 1km — 94 of them for those 59 places. Yangzheng balloted at the same phase with 98 applicants for 47 vacancies. St. Gabriel's and CHIJ Our Lady of Good Counsel did not ballot at 2C in 2025, taking 70 of 82 and 44 of 93 places respectively. Being inside the band is what gets a family into that ballot; it is not what wins it, but a four-school cluster means a family has more than one entry to make. How this plays out across launches is set out in primary schools and new launch demand.

Beyond schools, daily life here is already built: NTP+ Mall next door, Chuan Lane Park across the road, NEX one stop away at Serangoon, Junction 8 one stop the other way at Bishan, and the Serangoon Gardens hawker centre and wet market a short drive out. Two international schools, the Australian International School and Stamford American, sit within the wider catchment and matter mainly to the rental case below.

The rental case, and its limits

This is the section most launch material skips. The nearest genuinely comparable tenanted stock is The Scala, on the same street, where current listings imply roughly $6.20 psf per month — about $4,300 a month on a 700 sqft two-bedroom. Chuan Grove would enter at a materially higher price per square foot while renting into the same corridor at broadly the same rents, which is arithmetic rather than opinion: on our indicative range a 700 sqft two-bedroom near $2.0M against that rent implies a gross yield around 2.6%, and closer to 1.7–2.1% net once property tax at non-owner-occupier bands, maintenance and a vacancy allowance are taken out.

Read that as a statement about the yield case, not about the project. The tenant pool is real — two international schools, the New Tech Park office population, and a station one stop from two interchanges. But an investor buying here is buying the corridor's capital case and the scarcity of new supply on this street, not the running yield. Anyone buying primarily for income should run their own entry price through the new launch ROI calculator rather than a corridor average.

Who should be looking at this, and who should not

The buyers who fit are Bishan, Serangoon, Ang Mo Kio and Toa Payoh flat owners who want to move up without leaving the school and community network they already have; landed owners in the Chiltern, Serangoon Gardens and Bartley enclaves right-sizing to release equity while staying on familiar streets; families for whom the four-school cluster is the organising constraint of the next decade; and long-horizon buyers who read a single developer controlling the whole street's new supply as price support. The buyer it does not suit is the one whose entire budget is HDB sale proceeds with no top-up — on our indicative range a three-bedroom lands near $2.8M, well above what a Bishan five-room resale bridges after CPF refund and outstanding loan, and that gap is real rather than something a progressive payment schedule dissolves. Nor does it suit anyone expecting to buy below Chuan Park resale on the same road.

Stamp duty, TDSR and the cash you need

Standard private condominium rules apply: no citizenship restriction, no minimum occupation period, TDSR capped at 55% of gross monthly income and stress-tested at 4%, and LTV up to 75% on a first housing loan (45% on a second, 35% on a third). Singapore Citizens pay no ABSD on a first property, 20% on a second and 30% on a third; Permanent Residents pay 5% on a first and 30% on a second; foreigners pay 60%. Buyer's Stamp Duty applies on the tiered scale on top — on a $2.7M purchase that is about $104,600 — and neither BSD nor ABSD can be loan-financed. Under the schedule effective 4 July 2025, Seller's Stamp Duty runs for four years from the date the option is exercised, not from TOP, which on a build-under-construction timeline means a purchase here is normally clear of SSD around the time the keys are collected.

Progressive payments soften the cash profile: 5% on booking, 15% plus BSD at exercise, then staged draws against construction milestones, 25% at TOP and the final 15% at CSC a year later. Before preview the concrete step is an in-principle approval, so the affordable unit types are known rather than guessed. Work the numbers through our affordability calculator, stamp duty calculator and progressive payment calculator, and read the TDSR guide for how the stress rate works. Upgraders selling a flat first should start with selling an HDB to buy a new launch, since the sequence drives both the ABSD position and the deposit; the wider choice is set out in our new launch versus resale guide. Stress-test the repayment at a rate above today's, not at today's. We do not forecast rates.

1,055 units: the risks that come with scale

These are the trade-offs we would weigh at this site, and what makes each better or worse than it first looks.

• ModerateEntry priced above the same-street benchmarkOur indicative $2,820–$3,190 psf sits at or above Chuan Park's harmonisation-adjusted $2,730–$2,800, and a buyer at launch competes for resale buyers later against owners of that project on the same road. The mitigant is the lease and the product: a fresh 99-year term against one already two to three years down, plus new-build warranty. It is a real premium with a real reason behind it, not a bargain.
• ModerateHigh land cost, thin discount roomA blended $1,355 psf ppr is upper-half for OCR and produces a breakeven near $2,451 psf. If the market softens before preview, the developer has little room to cut without compressing margin toward the floor. The mitigant is that the same number disciplines the downside — launch pricing is structurally supported rather than open-ended.
• Moderate1,055 units into a heavier supply calendarChuan Park absorbed 916 units into a scarcity-driven 2024 market. Chuan Grove launches into a 2026 GLS Confirmed List programme of about 9,320 units, over half again the ten-year average, and puts its own block of units into the leasing and resale market in one window around 2031. The mitigant is that no further new-launch land exists on this street — the joint venture holds both parcels — and Chuan Park's roughly 97% sell-through shows genuine demand for the address.
• ModerateAmalgamation approval still in principleAs at the February 2026 filing the developer holds in-principle approval only to harmonise tenure across the two plots. A change to two smaller separate schemes would alter unit count, facilities and phasing. The mitigant is that construction start is confirmed independently of it, and any change would be a public, disclosable event rather than a quiet one.
• Low–moderateSchool bands not yet fixed to a final addressThe four sub-1km schools are straight-line distances from our dataset, measured against a site address that is not yet its final postal address. The mitigant is the cluster's density — the nearest two sit at 0.31km and 0.57km, far enough inside the band that a small address shift is unlikely to move them. Verify on MOE SchoolFinder before it drives a decision.
• LowUnconfirmed name, unit mix and preview dateThe ~1,055-unit count, the five-block form and the Q1 2027 preview are working estimates, and the project has no released name. The mitigant is that none of these changes the pricing thesis; all firm up at the sale-licence stage.

What to watch between now and preview

1. Jul & Sep 2025Both parcels awarded$703.6M at $1,376 psf ppr, then $623.9M at $1,331 psf ppr to the same joint venture — blending to about $1,355 psf ppr.
2. 12 Jul 2026Circle Line loop completesStage 6 opens; CC14 gains direct city-side journeys without a Dhoby Ghaut transfer. The one catalyst on this site, delivered.
3. Before preview (est.)Official name, final amalgamation approval, unit mixThe next things that can actually change this page. A confirmed amalgamation fixes the 1,055-unit scheme; the official name replaces the working one we track it under.
4. Q1 2027 (est.)Preview and price listShowflat, floor plans, stack data and actual pricing. This is when the estimates on this page become facts — or are corrected.
5. Q1–Q2 2027 (est.)Booking dayDay-one take-up is the demand signal worth watching, against the roughly half-of-units benchmark recent large OCR launches have set on a first weekend.
6. ~2031 (est.)Estimated TOPRoughly four to four-and-a-half years from the confirmed 2H2026 construction start. Around 97–98 years of lease remain at completion.

How we read it

Stated as a trade: you pay at or slightly above same-street resale, on our estimates, and in exchange you get a fresh full 99-year lease, a station that already works on a line that already loops, a four-school cluster with real ballot depth, and a developer that owns both remaining parcels on the street and therefore has no incentive to undercut its own benchmark. That suits an upgrader or right-sizer from the Bishan–Serangoon–Ang Mo Kio belt with headroom above the median flat-sale bridge, on a seven-to-ten-year horizon. It does not suit a buyer stretching to the last dollar, one who needs a discount against the neighbour, or one buying primarily for yield.

The case turns on two numbers. The first is the launch psf against our $2,820–$3,190 indicative range: near the bottom, the high land cost has not been passed straight through to the buyer; at or above the top, the premium over harmonisation-adjusted Chuan Park is doing all the work and needs the lease and the product to justify it on their own. The second is day-one take-up, which tells you whether 1,055 units in a heavier supply year is depth or overhang. This page is updated against both figures on the day the price list is published. Wider context sits in our GLS pipeline tracker, the Singapore price trends dashboard and our fuller Chuan Grove price and scale analysis. The Chuan Grove project site carries the showflat schedule, unit mix and floor plans as the developer confirms them; this page holds the independent yardstick to measure them against.

Sources: URA GLS tender results and quarterly price index releases; Sing Holdings SGX disclosures (Feb 2026); LTA network records for Circle Line Stage 6; MOE school data and 2025 P1 balloting releases compiled in our own schools dataset; HDB resale statistics; IRAS and MAS for duties and financing rules; PropertyInsider.sg tracked transaction dataset for the Lorong Chuan corridor. Figures marked (est.) are our estimates and subject to change at preview; indicative launch pricing is produced by our pricing model and is not developer pricing. Past performance of comparable projects is not indicative of future results. This page is research, not financial advice. PropertyInsider.sg is an independent research publication and does not market this project — see our editorial policy.

Page history

• 20 Aug 2026 — Editorial pass: section headings and framing rewritten to be specific to this project rather than shared house phrasing across the launch pages. No figures, sources, tables or FAQ answers changed.
• 19 Aug 2026 — Research read rewritten to the house standard. Added the two-tender land provenance timeline with bid counts and winning margins; rebuilt the land-cost table from our own land-sales dataset and corrected the Bayshore Drive comparable to $1,323 psf ppr; walked pricing explicitly from the $2,451 psf ppr breakeven through the 1.15–1.30 margin band; restated the Chuan Park cross-check at about 97% sold and ~$2,596 psf from our tracked data; added 2025 Phase 2C ballot figures for the four sub-1km schools; added the rental counter-case, a financing and duties section, and the "who it does not fit" reading; removed the executive-condominium policy section, which described a demand effect this page could not evidence.
• 31 Jul 2026 — Indicative range revised to $2,820–$3,190 psf (est.) on the harmonisation-adjusted comparable set; unit count aligned to ~1,055 and the blended land rate to $1,355 psf ppr; preview window revised to Q1 2027 (est.).
• 22 Jul 2026 — Page published: land-cost ladder, first indicative estimate, Chuan Park same-street benchmark, four-school 1km cluster, risk cards and timeline.
• Next scheduled update — the day the developer releases the official project name or the price list, whichever lands first; the indicative range is replaced with actual pricing and stack data at that point.

Frequently asked questions