Flat owners of the 606 units will receive compensation based on the market value of their flats at the time of the Sers announcement. The market compensation is assessed by a professional private valuer appointed by HDB.
They will also be offered new replacement flats located in the nearby Ang Mo Kio Drive. Units there will range from two-room flexi to four-room flats. Owners have the option of purchasing these replacement flats at the designated replacement site, which comes with a fresh 99-year lease, almost double the lease of the existing flats by the time they move out in end-2027.
They can also select replacement flats together with their neighbours or relatives, to live near one another."In this way, Sers helps to preserve existing community ties by enabling residents to move en bloc to new replacement flats," said HDB.
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Source: straits_times - 🏆 5. / 69 Read more »