The unfinished building is a two-story detached home with an attic and a basement that is elevated

An unfinished Good Class Bungalow (GCB) located on Chestnut Drive in Bukit Panjang is on sale for $38.88 million. In a press announcement on February 2 by PropNex Realty, the sole agent for marketing PropNex Realty, the price amounts to around $2,677 per sq ft on the land size of 14,526 square feet.

Tembusu Grand architect of about 210,545 sq ft and a maximum Gross Floor Area (GFA) of 54,789m2.

The leasehold of 999 years on the site is situated within the Chestnut Avenue GCB zone that is the only delineated GCB area within the immediate vicinity. The other housing zones landed around it are mostly three-storey mixed landed estates that are located along Cashew Road and Petir Road.

The unfinished property has an elevated detached house with a basement as well as an attic. According to PropNex the development is anticipated to get its temporary occupancy permit (TOP) in the coming year.

The property will include six bedrooms with ensuites and a theatre as well as a swimming pool that has a the water cascading feature, and a fully-equipped dry and wet kitchen, as well as space to build a gym or entertainment space. The property also has the capacity for solar panels as well as an intelligent home system.

According to PropNex the cost of $38.99 million also works out to around $1,996 per square foot, according to the proposed built-up area for the new GCB which is 19,481 square feet.

“Among those 39 GCB regions in Singapore and Singapore, this one is the best. Chestnut Avenue GCB area is among the lowest prices in comparison to the District 10 and District 11. and District 11. It also offers a gateway to the prestigious GCB segment.” states Henry Benjamin, head of GCB and prestige at PropNex.

He says that the brand-new GCBs remain highly sought-after properties and there’s an extremely limited supply of GCBs available.

The site has been made available for sale through a private contract.