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Digital property conveyancing portal to replace paper-based process by 2026

/ EdgeProp Singapore |

January 26, 2023 10:27 PM SGT

Minister for Culture, Community and Youth and Second Minister for Law Edwin Tong SC announces the development of the Digital Conveyancing Portal (DCP), an online portal that will streamline the current paper-based conveyancing process (Picture: SLA)

SINGAPORE (EDGEPROP) - The Singapore Land Authority (SLA) has made progress on the development of its Digital Conveyancing Portal (DCP), an online platform targeted at streamlining the legal process of transferring property titles.

With the DCP, SLA aims to fully digitise the conveyancing process, which currently still relies on a largely manual, paper-based procedure. When fully implemented, the DCP will enable property transactions to be completed digitally from end-to-end, including facilitating e-payments and submitting digitised documents. It will be made available to both public and private housing, as well as commercial and industrial properties. (Find Singapore commercial properties with our commercial directory)

Tech Mahindra has been appointed as the vendor to progressively develop and implement the DCP over three phases. The first phase will comprise the Option-to-Purchase (OTP) stage for developer sale, resale and sub-sale transactions, which is expected to be completed by the 2Q2024.

The second phase will cover the pre-completion and completion stages for developer sale transactions, while the third phase will cover the pre-completion and completion stages for resale and sub-sale transactions. The DCP is expected to be fully completed by 2026.

SLA is working with HDB to integrate the DCP workstreams to digitalise the conveyancing process, including facilitating epayments and digitising legal documents for HDB property transactions, where feasible. (Find HDB flats for rent or sale with our Singapore HDB directory)

Apart from buyers and sellers, SLA also highlights that the DCP will make it more efficient for other stakeholders involved in the conveyancing process such as lawyers, financial institutions, real estate agents, developers and property buyers and sellers, by reducing the time and effort taken for the administrative processes in conveyancing.

Tags:

Digital Conveyancing Portal (DCP)Singapore Land Authority property titles

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