Serangoon North HUDC goes private

The Serangoon North HUDC Estate has been privatised, clearing the path to a possible collective sale of the entire estate to private property developers.

The Housing and Development Board said in a statement on Thursday the estate will be converted into a strata-titled property under the Land Titles (Strata) Act.

The privatisation is initiated by residents and a requisite 75 per cent majority support was subsequently achieved by them, the statement added.

Serangoon North HUDC Estate comprises 244 units of flats at Blocks 128, 129, 130, 131, 132, 133 and 134 Serangoon North Avenue 1.

HUDC flats were built in the 1970s and 1980s as a housing option for middle-income citizen families.

HDB phased out the building of HUDC flats in 1987 as their demand declined.

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 owners to have better control over the management and maintenance of their estate.

Source : Channel NewsAsia – 8 May 2014

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