Privatisation of Eunosville HUDC Estate

The Eunosville HUDC Estate was privatised on Wednesday.

With the privatisation, the individual owners of the 330-unit estate now own their respective units, as well as the common property such as the car parks and open landscaped areas.

HDB said the Marine Parade Town Council will therefore cease its responsibility in the management and maintenance of the common properties of the estate with effect from Wednesday.

It will be done by a management corporation which was formed on Wednesday.

Privatisation of HUDC estates was announced in 1995 as part of the Government’s effort to meet the rising aspirations of Singaporeans to own private housing.

It also enables the lessees to have better control over the management of their estate.

Privatisation will proceed if lessees of at least 75 per cent of the flats support it.

Source : Channel NewsAsia – 1 Jun 2011

COMMENTS