Since March 2012, about 3,500 applicants who cancelled their booking for a HDB flat have been barred from buying BTO flats for one year.
In a written response to a query in yesterday’s parliamentary session, Minister of National Development Khaw Boon Wan said, “The measure to impose a one-year debarment on HDB flat buyers who cancel their bookings is to discourage frivolous booking. Such behaviour is unfair to genuine flat buyers who may otherwise be crowded out.”
When asked if HDB will consider allowing walk-in application and selection of flats under the Sale of Balance Flats (SBF) exercise on a monthly basis, Mr Khaw said the government prefers to accumulate its balance flats and sell them under a SBF exercise when there is a sufficiently large supply.
“This allows applicants more choices of flat types in various locations,” he said.
Flats from the SBF exercise consist balance flats from earlier Build-To-Order (BTO) exercises, surplus Selective En-bloc Redevelopment Scheme (SERS) replacement flats, and repurchased flats.
These flats are mostly under construction or near completion.
Four blocks of low-rise HDB flats at the junction of East Coast Road and Siglap Road are set to be demolished under the Selective En Bloc Redevelopment Scheme (SERS), The Straits Times reported.
Officially opened in 1964 by Siglap assemblyman Rahim Ishak, the flats were built to house residents whose homes were destroyed by a fire in 1962.
The development was never upgraded despite having no lifts and each block is served by a single staircase. Most of the 117 units are two-bedders, with a third comprising rental flats.
54-year old resident Mary Lee, a social welfare worker, said: “This place is very quiet and very peaceful. I will miss this place because I go to East Coast Park for exercise every day and the food here is very nice.”
Meanwhile, SERS provides the current flat owners with priority in acquiring units at a new site in Chai Chee Road at subsidised prices. Shopkeepers who qualify for compensation will receive S$60,000 and 10 percent off the rent if they open in another HDB block.
But some shopkeepers feel this means the end of their business. At least half of the 10 shops plan to close for good, while others remain uncertain about their future.
Source – PropGuru – 20 May 2013