February 2023 HDB BTO Review: Kallang/ Whampoa/ Tembusu Grand

For the upcoming February 2023 HDB BTO launch, two BTO sites will be available for balloting at Kallang /Whampoa/Tembusu Grand. One will be at Jalan Rajah, while the other will be at Farrer Park. In total, there will be an estimated 1,770 units up for grabs.

Tembusu Grand amenities features 638 units of apartments, with shared facilities like swimming pool, fitness court, club plaza, lagoon deck, hydro-therapy pool, gourmet dining, kids’ cove and tranquility lounge.

If you die die want to live in the city fringe, these are the HDB BTO projects to look out for.

February 2023 Kallang/ Whampoa HDB BTO: At a glance

Location  Jalan Rajah Along Race Course Road, Hampshire Road and Farrer Park Road
Classification Mature estate Mature estate
Flat types and number of units 500 units of 3-room, 4-room 1,270 units of 2-room Flexi, 3-room, 4-room
Estimated price for a 4-room flat S$430k – S$710k S$430k – S$710k
Estimated waiting time TBC TBC
Estimated completion date TBC TBC
Nearest MRT Toa Payoh MRT Little India MRT, Farrer Park MRT
Notable amenities Toa Payoh Stadium, Toa Payoh Swimming Complex, SAFRA Toa Payoh, Zhongshan Mall, Tan Tock Seng Hospital, Mount Elizabeth Novena Hospital  City Square Mall, Mustafa Centre, KK Women’s & Children’s Hospital, Farrer Park Hospital 

February 2023 Kallang/ Whampoa HDB BTO: Price range and estimated instalments

HDB hasn’t released the price range yet. For now, here’s SRX’s estimations based on nearby resale transactions and launch prices from recent BTO launches.

Flat type Indicative price range 
3-room S$300k – S$470k
4-room S$430k – S$710k

Source: SRX. These estimations have been adjusted for differences in property age and location. If a launch is nearer to an MRT or commercial development, it’s likely to be more expensive.


Estimated downpayment, monthly instalments and income

Based on these pricing forecasts, we can estimate the downpayment, monthly instalments and household income needed to pay for the February 2023 Kallang/ Whampoa BTO flat. These estimates are based on the following assumptions:

  • An HDB loan is taken to maximise the 80% loan-to-value (LTV), given the latest cooling measures
  • The loan tenure is 25 years, with the current interest rate of 2.6%
  • A stress-test rate of 3% is used to calculate the Mortgage Servicing Ratio (MSR), which stipulates that up to 30% of the monthly household income can be used to pay the monthly instalments.
  • There is no other housing loan to service

To illustrate, we’ll use the median of the price range and won’t be taking into account any CPF grants or savings to be used.

Flat type Median price Loan amount (80%) Min. downpayment (20%) Estimated monthly instalment (with 2.6% interest rate) Estimated monthly household income (with 3% stress-test)
3-room S$385,000 S$308,000 S$77,000 S$1,397.30 S$4,868.57
4-room S$570,000 S$456,000 S$114,000 S$2,068.73 S$7,208.00

Looking to take out a bank loan instead? Contact our mortgage broker to get the best rates.

What we noticed about the February 2023 Kallang/ Whampoa HDB BTO

*Disclaimer: Walking, public transport ride and driving durations are based on Google Maps estimates. Actual times may vary.

The first thing that caught our eye is that the Farrer Park BTO site is located between two MRT stations, and next to Piccadilly Grand condo. Given its city-fringe location and proximity to the MRT, we’re pretty certain it will be a Prime Location Public Housing (PLH) project.

Meanwhile, the Jalan Rajah BTO site used to be a school site. It’s first home to Moulmein Primary School, and last occupied by Global Indian International School before they moved to Punggol.

But don’t get excited by it being located next to Kallang River. Because next to the river is the Pan-Island Expressway (PIE). What’s certain about living next to expressways is that it’s bound to get noisy.

(As someone who lives nearby, I find the area pretty serene actually, aside from the traffic noise from the PIE.)

February 2023 Kallang/ Whampoa HDB BTO: The pros

Accessibility (for Farrer Park BTO)

Among all the BTO sites launching this month, the Farrer Park BTO wins hands down in terms of accessibility to the MRT. It’s right between two MRT stations: Little India MRT and Farrer Park MRT. This also means you get access to two MRT lines: North-East Line and Downtown Line.

For drivers, the Central Expressway (CTE) is a couple of streets away.

And good news for the cyclists (and drivers and pedestrians)! The BTO is just a short ride from the North-South Corridor, which is expected to open from 2027. Besides cycling routes, it will feature dedicated bus lanes and pedestrian paths.

Artist’s impression of the North-South Corridor, which will feature bus lanes, cycling trunk routes and pedestrian paths. Source: Land Transport Authority (LTA)

Food and retail amenities

Aside from the city-fringe location, what we like most about both BTO sites is that both are loaded with food and retail options nearby.

Within walking distance of the Jalan Rajah BTO is Zhongshan Mall (around a 10-minute walk away). Plus, there’s a good range of food options along Balestier Road, where you can find eateries known for chicken rice and bak kut teh.

If you feel like walking further, you can also head to Toa Payoh for more options, which is around a 15-minute walk via the overhead bridge above the PIE.

As for the Farrer Park BTO, there’s Tekka Centre next to Little India MRT, as well as Mustafa Centre and City Square Mall nearby Farrer Park MRT. You can also find plenty of restaurants and cafes in the area.

If you’re looking for even more options, you can always head to Bugis or Orchard.

Sports facilities

Another thing that stands out to us is that both Kallang/ Whampoa BTOs offer a good range of sports facilities nearby. This makes both BTOs an ideal home for active people and families with kids.

Over at Jalan Rajah BTO, there’s Toa Payoh Swimming Complex, Toa Payoh Sports Hall, Toa Payoh Stadium and SAFRA Toa Payoh just across the PIE. They’re around a six-minute walk away from the BTO via the overhead bridge.

Meanwhile, the Farrer Park BTO will be integrated with sports facilities; plans for it were first announced in April. Some facilities we can expect include a jogging track, a 1.2-hectare central green space and a new sports centre with a swimming pool.

Healthcare facilities

Interestingly, both BTO sites are close to hospitals.

In particular, the Jalan Rajah BTO is within a nine-minute drive of Tan Tock Seng Hospital and Mount Elizabeth Novena Hospital. The area is set to be a major healthcare hub with the completion of Health City Novena by 2030.

Likewise, there are two hospitals near the Farrer Park BTO. This includes Farrer Park Hospital just down Race Course Road, and KK Women’s and Children’s Hospital at around a three-minute drive.

February 2023 Kallang/ Whampoa HDB BTO: The cons

Accessibility (for Jalan Rajah BTO)

Ok, we’re being picky here. The site is generally accessible to residents, given its city-fringe location. It’s also pretty near the future North-South Corridor. Moreover, drivers will find it convenient as it’s just a couple of streets away from the PIE and CTE.

But if we’re judging it based on its proximity to the MRT, then the Jalan Rajah BTO loses points on this. Because the nearest MRT, Toa Payoh MRT, is around a 15-minute walk away. Sure, you can take the bus, but that will also take you 15 minutes to get there.


While both Kallang/ Whampoa BTO sites may be suitable for kids due to the sports facilities nearby, there aren’t many primary school options within close proximity.

For instance, there are only three primary schools within 1km of the Jalan Rajah BTO:

  • Hong Wen School
  • Kheng Cheng School
  • Pei Chun Public School

Likewise, only two primary schools are available within 1km of the Farrer Park BTO:

  • Farrer Park Primary
  • St Margaret’s Primary

Notably, Farrer Park Primary is just an eight-minute walk from the BTO. So residents of the BTO who value convenience will want to get a place for their kids there.

No 5-room flats

If you have been following the BTO launches for the past few years, it shouldn’t come as a surprise that there hasn’t been 5-room flats launched in central locations such as Kallang/ Whampoa.

So if you’re looking for bigger BTO flats this time, the only option is the Tengah BTO. Alternatively, you can always consider HDB resale flats.

February 2023 Kallang/ Whampoa HDB BTO: What’s the potential price appreciation?

Overall, 3-room and 4-room HDB flats in Kallang/ Whampoa have seen higher price appreciation than those in mature estates, with prices up by 22.79% over the last 10 years. Average resale prices in the estate have generally remained above the average prices of flats in mature estates.

And when we take a closer look at the price trend for the respective flat types over the past 10 years, 4-room flats have a higher price increase at 30%. More importantly, there’s been a huge price gap between 3-room and 4-room flat.

Here are the average resale prices as of 31 Jan 2023:

Flat type Average price psf Average price 
3-room S$615 S$455,433
4-room S$740 S$737,577


You can expect some upside for both Kallang/ Whampoa BTO sites. For the Jalan Rajah BTO site, it’s mainly due to the upcoming developments in the area, which are the North-South Corridor and Health City Novena.

As for the Farrer Park BTO, besides the sports facilities, the integrated development Piccadilly Grand (which has a mall) located next door should help rejuvenate the area. Since its launch last year, the average price has been hovering at around S$2,000 psf.

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