What is the typical time frame between exercising the OTP and the transaction appearing in URA records

In Singapore, after an Option To Purchase (OTP) is exercised, the transaction is typically reflected in the Urban Redevelopment Authority (URA) records once the Sale and Purchase Agreement is completed and the necessary documents are submitted.

Generally, this process occurs after the buyer has made the remaining down payment and signed the Sale and Purchase Agreement, which usually happens within the validity period of the OTP, typically between 14 to 21 days, or up to a maximum of 12 weeks if an extension is agreed upon by both parties and approved.

Once these steps are completed, the transaction is recorded by the URA, reflecting the actual sale of the property. This ensures that the sales figures are accurate and reflect the true state of the real estate market.