Wednesday, September 19, 2012

12 of 18 HUDC estates already privatised


5 more in the process of privatisation

The Straits Times
September 17, 2012

HUDC units were introduced in the 1970s for middle-income families who could afford bigger flats. There were 18 HUDC projects, comprising 7,731 units. All were on 99-year leases.

The Housing Board stopped building them in 1987 after private property prices fell and interest in HUDC units dwindled.

In 1995, privatisation was introduced for these estates, to give the owners control over their homes. The process of privatisation is by way of public announcement and designation in the Government Gazette.

Once owners of at least 75per cent of the flats support privatisation, the leases can be converted to strata titles.

HDB's lease conditions are then lifted, effectively making them private property.

The process of legally transferring the title from the Housing Board to flat owners takes about 21/2 years to complete.

Of the 18 estates, 12 have been legally privatised, while five have obtained the required 75 per cent mandate for privatisation.

The 12 privatised estates are: Farrer Court, Amberville, Lakeview, Chancery Court, Laguna Park, Gillman Heights, Pine Grove, Ivory Heights, Minton Rise, Waterfront View Estate, Tampines Court, and Eunosville.

The five pending legal privatisation are Bishan (Shunfu), Serangoon North, Hougang North N3, Hougang North N7 and Potong Pasir.

Braddell View is the only estate that has not been privatised.

It was built in two phases, and each development was issued a separate state lease with a different expiry date.


Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
Email: marshe_inc@yahoo.com.sg
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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