Chencharu Close · District 26 · 2026
James's professional assessment · Not investment advice
Yishun Primary and Northland Primary sit within the immediate catchment. Decent neighbourhood options, but no marquee 1km-ballot school driving demand the way CHIJ St. Nicholas or Ai Tong do further down the corridor.
Approximately 700m to Khatib MRT (NS14), North-South Line, a direct 25-minute run to Orchard. Solid single-line access, but no multi-line or TEL advantage the way Lentor and Springleaf now have.
Northpoint City, one of the North Region's largest malls, is close by, alongside established Chong Pang hawker and wet-market culture and Lower Seletar Reservoir for greenery. Genuine established heartland amenity depth.
At an estimated $2,370 psf, gross yield runs ~2.0 to 2.3%, below current financing cost by the article's own numbers. GFA harmonised, which removes one risk, but this is the largest D26 GLS to date at 875 units, meaning heavy same-project supply competing for the same buyer pool, on a long runway to a 2030 to 2031 TOP.
875 units. Mixed-use. GFA harmonised. ~$2,370 psf. Chencharu Close is larger than any recent District 26 GLS site next door. And on 8 May 2026, Yishun 10 was rezoned for residential redevelopment 2km north. The corridor is firing on all cylinders. Here's whether Chencharu deserves your CPF.
The GLS tender for Chencharu Close closed on 11 September 2025. Evia Real Estate and Gamuda paid approximately $980 psf per plot ratio for a 317,000 sq ft North region site. Larger than any residential GLS parcel awarded in neighbouring District 26. If you're an AMK, Bishan, or Yishun HDB upgrader watching this corridor, this is the launch that defines the next benchmark. Here's the complete picture.
Why Chencharu Central Residences?
The residential project on this site is marketed as Chencharu Central Residences, with a targeted launch in January to February 2027. Here is what the project brief states, with the points worth checking at the preview.
- Precinct: the first private mixed-use launch in the new 70-hectare Chencharu housing precinct in Yishun.
- Developers: a consortium of Evia Real Estate, Gamuda Land and Ho Lee Group.
- Site: about 317,000 sqft, with about 13,000 sqm of commercial space.
- Residential: about 875 units (the brief says 876, so confirm the final count at launch).
- Integrated facilities: a bus interchange and a hawker centre sit within the development.
- Transport: Khatib MRT (NS14) is about 700m away, and Northpoint City is one MRT stop away.
- Nearby: Yishun Stadium, Yishun Sports Centre, Lower Seletar Reservoir Park, Peiying Primary and Naval Base Secondary School.
- Land bid: $980 psf ppr, from the tender that closed on 11 September 2025.
The bus interchange and hawker centre are the part to understand early. They add daily footfall and convenience, and they also mean shared strata and operating arrangements with commercial users. Ask how the residential MCST and the commercial components will be separated before you form a view on price.
Where Is Chencharu Close?
Chencharu Close is in the Chencharu residential estate, Yishun's newest planning precinct, bounded by Yishun Avenue 5 to the north and Sembawang Road to the west. The GLS site is approximately 700m from Khatib MRT (NS14) on the North-South Line. One stop south of Yishun, with a direct 25-minute run to Orchard.
Six Launches, Six Price Records, The D26 Corridor Story
Breaking (8 May 2026): Yishun 10 Is Being Rezoned: Great News for Chencharu Buyers
URA gazetted a proposed Master Plan 2025 amendment on 8 May 2026 to rezone 51 Yishun Central 1, the Yishun 10 and GV Yishun site, from purely commercial to residential with commercial on the first storey, at a plot ratio of 3.0. The owner, Frasers Property, confirmed it wants to "unlock redevelopment value". Savills estimates 90 to 100 private homes and about 2,780 sqm of commercial space.
Why does this matter for Chencharu buyers? Frasers Property, which runs Northpoint City next door and knows the northern market better than any developer, chose to redevelop a 34-year-old local landmark rather than hold it for income. That's big-developer conviction in the same HDB upgrader crowd driving demand at Chencharu. Between 2026 and 2029, about 3,500 HDB flats in Yishun and Sembawang are expected to fulfil their MOP (ERA Singapore, December 2025). The October 2025 BTO exercise in Yishun was oversubscribed across the board, including in the Chencharu estate itself. The catchment is real and growing.
GFA Harmonised: Every Square Foot You Pay For Is Floor You Can Walk On
+ What Pre-Harmonisation AC Ledge Would Have Cost You Here →− Collapse
Pre-harmonisation condos like Lentor Modern or Hillock Green included ~40 to 50 sqft of non-liveable AC ledge in their quoted strata area. At $2,370 psf, that would cost you ~$95,000 to $118,000 for space you can't stand in. Under harmonisation, that charge disappears. Compare Chencharu's psf only against other harmonised launches, Lentor Mansion (2024), Lentor Central Residences, Springleaf Residence. Not against pre-2023 projects. The numbers tell a different story when you're comparing like-for-like.
Is $2,370 PSF Justified? Here's the Honest Maths
+ Working Backwards From Land Cost to the $2,370 PSF ASP →− Collapse
Working backwards: Evia + Gamuda paid ~$980 psf ppr. Add construction ($400 to $500 psf) plus developer overhead. Breakeven lands at ~$1,975 psf. Apply 20% developer margin → ~$2,370 psf ASP. Against the harmonised-only comparable set, that's a 5 to 10% premium over Lentor Central Residences, consistent with what every prior D26 launch has commanded over its predecessor.
The Mixed-Use Edge: And the Questions Most Agents Won't Ask at the Showflat
- Maintenance fee allocation: Commercial owners pay into the MCST too, but how shared costs such as lifts, car parks, security and landscaping are split is set in the strata plan, not the brochure. Ask for the proposed management agreement before you sign.
- Sinking fund dynamics: Under the BMSMA, contributions follow share values. A large commercial GFA can lighten the residential share of sinking fund costs, which helps owners. Ask the developer for the proposed share value schedule at the showflat.
- Commercial tenancy risk: Food outlets bring delivery traffic, cooking exhaust and late hours. Ask which residential floors sit directly above the shops, and whether the commercial units will be sold or kept by the developer. A developer that keeps the commercial space can be a stabilising force, or a source of friction, depending on how it's run.
Who Should Be at the Front of the Queue?
- AMK / Yishun HDB upgraders hitting MOP in 2025 to 2026
- Families wanting walkable F&B and services on the doorstep
- Long-horizon holders (10+ years) comfortable with 99-year leasehold in a developing precinct
- Household income above $120K who can service a $1.5M+ loan
- Yield investors: gross yield of about 2.0% to 2.3% at $2,370 psf is below the cost of borrowing
- Short-term flippers: SSD Year 1 = 16%; deeply uneconomical
- Buyers needing TOP by 2028: expect 2030 to 2031
- Those who need a fully established neighbourhood at move-in
Who It Suits: Now, Watch or Wait?
Chencharu Central Residences: Common Questions
What is Chencharu Central Residences?+
It is the private mixed-use residential project on the Chencharu Close GLS site in Yishun, by Evia Real Estate, Gamuda Land and Ho Lee Group. It has about 875 units, about 13,000 sqm of commercial space, a bus interchange and a hawker centre. Launch is targeted for January to February 2027.
How much was the land bought for?+
The land bid was $980 psf ppr, from the tender that closed on 11 September 2025 to the Evia, Gamuda and Ho Lee consortium. Land cost is one input into launch pricing, not a price guarantee. The $2,370 psf figure in this review is an estimate and will change once the developer releases official pricing.
How far is Chencharu Central Residences from Khatib MRT?+
The site is about 700m from Khatib MRT (NS14) on the North-South Line. Northpoint City is one MRT stop away. Walking time depends on your pace and the final pedestrian routes, so test the walk yourself at the showflat visit rather than relying on marketing estimates.
Which schools are near Chencharu Central Residences?+
Peiying Primary School and Naval Base Secondary School sit close to the site, with other Yishun schools in the wider area. Distance to a school does not guarantee a ballot place, so check the current MOE 1km and 2km registration rules for the year your child registers.
What should buyers check in a mixed-use project like this?+
Ask how the residential MCST is separated from the commercial and bus interchange components, who pays for shared facilities, and how noise and access are managed. These governance points affect running costs and resale appeal for years after you collect the keys.
Sources+
- URA: Proposed Amendment to Master Plan 2025, 51 Yishun Central 1, 8 May 2026
- URA GLS Programme: Confirmed List & Reserve List 2025/2026
- URA: GFA Harmonisation Circular, 1 September 2022; Implementation 1 June 2023
- UOB Global Economics & Markets Research: Outlook 2026 (15 January 2026)
- Savills Singapore: Alan Cheong commentary on Yishun 10, The Straits Times, May 2026
- ERA Singapore: 1H 2026 GLS Programme Press Release (December 2025)
- PropNex Research: District 26 Transaction Data 2022 to 2026
- URA REALIS: Lentor Corridor Caveats 2022 to 2026
- BCA: Construction Cost Benchmark 2025
- BMSMA: Sinking Fund & MCST Governance Framework
Disclaimer+
Is this project right for you?
Every buyer's numbers are different. I'll check your budget, loan, the alternatives and your exit in a free written Property Decision Review. No obligation.
Get my free Property Decision Review →This article is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Property investments involve risk. Past performance is not indicative of future results. Readers should seek independent advice from licensed professionals before making any property or financial decision. James Ong is a licensed real estate salesperson (CEA Reg No. R008385F) with PropNex Realty Pte Ltd and is not a licensed financial adviser.
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