Unique opportunity to move to new flats
SINGAPORE: Residents of Blocks 513 to 520 West Coast Road will have to move after the site was picked for the Selective En bloc Redevelopment Scheme (SERS), the Housing and Development Board (HDB) said on Wednesday.
The blocks affected are about 37 years old, and they comprise 994 units in total. This is the 80th site to be selected for the scheme, HDB said in a press release.
Residents who choose not to take up a new flat in one of the two new precincts can also sell their flat in the open market. Resale or transfer applications can only be submitted after Sep 2 this year and not later than Jul 31, 2017, HDB said. Recent executive condo launches include Treasure Crest and Northwave EC while existing ones include The Terrace EC, Brownstone EC, The Visionaire EC, Parc Life EC , Waterwoods EC, Signature at Yishun, Skypark Residences, Wandervale EC, The Vales EC, The Criterion EC, The Amore EC, Bellewaters EC, Bellewoods EC.
“SERS offers the residents of these blocks a unique opportunity to move to new flats on fresh 99-year leases, sited in a location served by a comprehensive range of facilities,” it said.
Affected households will get a choice of replacement flats – ranging from two-room Flexi to Three-Generation (3Gen) flats – to be built at two sites at Clementi Avenue 1 and West Coast Link. The flats are estimated to be completed in the third quarter of 2022.
“The replacement flats are conveniently located near amenities such as the Clementi MRT Station and Bus Interchange. Facilities such as the Clementi Mall, Clementi market cum food centre, West Coast Plaza, West Coast Market Square, West Coast Community Centre, as well as other shops and eateries are also available nearby.
“In addition, residents can enjoy sports and recreational activities in the town, such as Clementi Sports Hall and Swimming Complex, West Coast Park and Clementi Woods Park,” HDB said.
Two shops and an eating house at Block 516, as well as 12 shops at Block 517, will also be affected. The owners of these commercial properties will be given compensation based on the market value of their units at the time of the SERS announcement, HDB said.
They may opt to buy a new unit on a 30-year lease or rent the new unit. Those who choose not to take up a new unit will receive an ex-gratia payment pegged at 10 per cent of the market value of the existing unit, it added.