The purchase price of $57 million translates to a land rate of $1,629 psf per plot ratio, says Yong. Located on Sophia Road in prime District 9, Fairhaven sits on a 16,660 sq ft, freehold site zoned residential, with a plot ratio of 2.1. As the site has a high development baseline and based on the plot ratio of 2.1, it could potentially be built up to a gross floor area of 34,986 sq ft. The developer would therefore not incur a development charge.