Bought in 2023, built by 2026
URA awarded the Champions Way site to CDL Stellar in September 2023 for $294.889 million. Spread over the floor area the site may hold, that is about $904 per square foot (psf ppr). The development is now built: CDL's construction page, updated on 19 October 2026, lists TOP as obtained in August 2026.
A launch price is built up from the developer's costs. The land comes first and is fixed on the day of the award; construction, financing and marketing go on top, then the developer's margin. Norwood's land cost was settled before the rise described below.
Many later sites have cost more
Across 47 URA residential land awards in 20 planning areas, the middle award was about $1,191 psf ppr in 2024, $1,331 in 2025 and $1,526 in 2026 to 18 September: about 28% higher than in 2024. Each year is a different set of sites, so this is the cost of the land now heading to launch, not a price index for the same plot.
For a Woodlands home the closer comparison is with sites outside the central region. In 2026 there were three: Dairy Farm Walk at about $962, Lentor Central at about $1,278 and New Upper Changi Road at about $1,537 psf ppr. Their middle figure, about $1,278, is about 41% above Norwood's $904. In the Central Region, Dover Drive (about $1,556) and Holland Plain (about $1,491) were also well above Norwood's rate.
Norwood's land against 2026 land awards
Outside the central region, and two Central Region references; URA award price per sq ft of permitted floor area
Land price per square foot of maximum permitted gross floor area (psf ppr), from URA's award price and GFA · $ psf ppr · Awards Sep 2023 and Jan to Sep 2026
Norwood Grand's land
- Norwood Grand (Champions Way), Sep 2023$904 psf ppr
Outside the central region, 2026
- Dairy Farm Walk (Bukit Panjang), Jan 2026$962 psf ppr
- Lentor Central (Ang Mo Kio), Mar 2026$1,278 psf ppr
- New Upper Changi Road (Bedok), Sep 2026$1,537 psf ppr
Central Region, 2026
- Dover Drive (Queenstown), Mar 2026$1,556 psf ppr
- Holland Plain (Bukit Timah), May 2026$1,491 psf ppr
Norwood Grand's land, September 2023: about $904 psf ppr. Outside the central region in 2026: Dairy Farm Walk $962; Lentor Central $1,278; New Upper Changi Road $1,537. Central Region in 2026: Dover Drive $1,556; Holland Plain $1,491.
Source: Past Sales Sites (Government Land Sales awards workbook) (Urban Redevelopment Authority), Awards 13 Apr 2023 to 18 Sep 2026; workbook read 22 Oct 2026. Extracted 23 Oct 2026.
Calculated: URA's award price divided by the maximum permitted gross floor area, converted at 10.7639 sq ft per sq m, rounded. A land rate is the developer's cost per square foot of floor area it may build, not the selling price of a home. Different locations and sites: these show what developers have committed to recently, not a value for Norwood.
Show the data as a table
| Category | Group | $ psf ppr |
|---|---|---|
| Norwood Grand (Champions Way), Sep 2023 | Norwood Grand's land | $904 psf ppr |
| Dairy Farm Walk (Bukit Panjang), Jan 2026 | Outside the central region, 2026 | $962 psf ppr |
| Lentor Central (Ang Mo Kio), Mar 2026 | Outside the central region, 2026 | $1,278 psf ppr |
| New Upper Changi Road (Bedok), Sep 2026 | Outside the central region, 2026 | $1,537 psf ppr |
| Dover Drive (Queenstown), Mar 2026 | Central Region, 2026 | $1,556 psf ppr |
| Holland Plain (Bukit Timah), May 2026 | Central Region, 2026 | $1,491 psf ppr |
When those costs reach buyers
Land takes time to reach buyers. In three examples the gap from award to first sales was about 11 to 16 months: Norwood launched in October 2024, about 13 months after its award. GuocoLand's Lentor Mansion first sold homes about 11 months after its April 2023 award, and Springleaf Residence about 16 months after its April 2024 award.
So the 2025 and 2026 awards are still working their way to buyers. GuocoLand plans to launch its newer Lentor Central site, bought in March 2026 at about $1,278 psf ppr, in the first half of 2027. Many of the coming launches sit on these later, higher-cost sites.
Land psf and a home's psf are different measures
Land psf ppr divides what the developer paid by the floor area it may build. A home's psf divides its price by its own floor area, after construction, financing and margin. The comparison above tells you about the cost base of the projects you will be choosing between; the price of the home in front of you is still the thing to test.
Back to the home you would buy
The developer's project guide on 23 Oct 2026 started from about $2,643,000, or $2,013 psf: a project-level figure, so get a written quotation for the exact home, floor and stack. URA's records give the recent evidence: Norwood's 26 new sales from January to September 2026, all homes of 122 or 124 sq m (about 1,313 or 1,335 sq ft), went for $2,668,000 to $2,793,000.
| Home size | Sales | Lowest | Highest |
|---|---|---|---|
| 122 sq m (about 1,313 sq ft) | 14 | $2,668,000 | $2,786,000 |
| 124 sq m (about 1,335 sq ft) | 12 | $2,673,000 | $2,793,000 |
Source: Private residential transactions (URA Data Service) (Urban Redevelopment Authority), Records to Sep 2026; read 21 Oct 2026. Extracted 23 Oct 2026.
Single-unit new sales as URA records them, by contract month. Different floors and stacks; a record is a past sale, not a home on offer today.
To compare with an older condo on a fair floor-area basis, use the GFA-harmonised PSF guide. For the wider land picture, read rising land costs and tomorrow's launches.
