Tag Archives: HUDC

MND proposing HUDC statute amendment for privatisation of Braddell View

Posted on 15 May 2012 | Comments Off on MND proposing HUDC statute amendment for privatisation of Braddell View

The Ministry of National Development has proposed an amendment to the HUDC Housing Estates Act. This is to primarily facilitate the privatisation of Braddell View.

Braddell View – the only HUDC estate left governed by the act – was developed on two different land leases with separate expiry dates.

In order to privatise the estate, the different dates need to be harmonised.

The existing act empowers the body corporate of Braddell View HUDC Estate to collect contributions from all its flat lessees in equal proportion, but Phase 2 lessees may not agree to pay the same amount as Phase 1 lessees.

The proposed amendment will allow Braddell View’s body corporate to determine the share of the premium to be paid.

The Amendment Bill will be tabled for a second reading at the next Parliament sitting.

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Serangoon North HUDC close to privatisation

Posted on 16 Apr 2011 | Comments Off on Serangoon North HUDC close to privatisation

The Housing and Urban Development Company (HUDC) estate in Serangoon North is three signatures away from achieving privatisation.

180 of the 244 households have already signed up – just 1.2 per cent shy of the 75 per cent minimum needed for the proposal.

Key benefits of privatising HUDC estates are that home owners will be able to manage their estates and build facilities typically found in condominiums, like swimming pools or fitness corners.

Property value usually increases as well because of fewer restrictions on locals or foreigners buying private apartments.

The Serangoon North HUDC has been trying to achieve privatisation since 1997, but has met resistance from residents.

Many cited concerns over their inability to pay the S$30,000 in privatisation costs.

The estate is under a time crunch to reach consensus.

If the vote goes through before August 1, 2013, the Government will cap the cost of privatising the homes at S$30,000.

Thereafter, the cost of privatisation will be adjusted to take into consideration the prevailing redevelopment potential of the land, which could potentially double.

Minister in the Prime Minister’s Office and MP for Aljunied GRC, Lim Hwee Hua, met residents this evening to hear their concerns over the privatisation of their estate.

Source : CNA – 16 Apr 2011

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