The HDB Lease Buyback Scheme can be a federal government initiative that allows elderly HDB flat house owners in Singapore to sell a part of their flat's lease back again to HDB to complement their retirement cash flow. To be eligible, all homeowners needs to be a minimum of 65 yrs aged, and also the flat have to have not less than twenty years of remaining lease. The gross month-to-month family profits for all entrepreneurs must not exceed $14,000. Under the scheme, HDB buys back a portion of the flat's lease, and also the owner is then provided a clean lease of thirty yrs, or as many as ninety five yrs, based upon their age. The proceeds from the sale are utilized to top up their CPF Retirement buy back scheme hdb 210 24 Account, which subsequently presents a monthly income stream through CPF LIFE. The flat should be owner-occupied with the period of The brand new lease. The scheme offers a lump sum money reward of nearly $twenty,000 for many who qualify, and it really is an alternative to downgrading to some smaller flat to monetize their present residence.