On Thursday , HDB announced the selection of Blocks 562 to 565, comprising 606 units, for redevelopment.
The site is the fifth in Ang Mo Kio to be selected for Sers. Blocks 246 to 252 in Ang Mo Kio Avenue 2, 3 and 4 were picked in 2006. Owners will also receive a $10,000 removal allowance to defray moving expenses, and HDB will pay the stamp and legal fees for the purchase of a comparable replacement flat.
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. Owners who do not wish to take up a new replacement flat can choose to sell their Sers flats with the rehousing benefits on the open market, said HDB.
What is the criteria for that?