April 08, 2022, 01:21 PM
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Four Housing Development Board (HDB) blocks in Ang Mo Kio will be part of the latest round of the Selective En bloc Redevelopment Scheme (SERS) announced on Apr. 7, 2022.
According to HDB, over 600 households from Blocks 562 to 565 Ang Mo Kio Avenue 3 will be affected.
Under the scheme, the flat owners will be invited to purchase new flats at subsidised prices at Ang Mo Kio Drive.
In addition, prices for the 1,065 units at Ang Mo Kio Drive — due to be completed in the third quarter of 2027 — have been frozen, with SERS flat owners having the first pickings before surplus flats are released to the public.
Artist's impression of the replacement site at Ang Mo Kio Drive. Image from HDB
The effort to renew the 43-year-old Ang Mo Kio Avenue 3 blocks was the first announcement of a SERS project in nearly four years.
Blocks 81 to 83 MacPherson Lane was previously announced as a SERS project in May 2018.
Key collection for replacement site in Q3 2027
Under a timeline posted to HDB's website, flat owners from the affected blocks on Ang Mo Kio Avenue 3 will attend SERS sharing sessions later this month, before having their flats undergo valuation in the second or third quarter of this year.
Image from HDB
Further down the line, they will be asked to make their rehousing choice in the first half of 2023, with key collection for Ang Mo Kio Drive estimated to start as early as the final quarter of 2027.
Flat owners will be compensated for the market value of their flat at the time of the SERS announcement along with the stamp and legal fees for buying an equivalent flat and a S$10,000 removal allowance.
Image from HDB
Those who choose to relocate to the replacement site at Ang Mo Kio Drive will may be eligible for a SERS grant of up to S$30,000.
They can also take out a housing loan from HDB for the purchase of their replacement flat.
Can select flats with neighbours and relatives
As part of HDB's efforts to preserve community ties, neighbours and relatives can select replacement flats at Ang Mo Kio Drive together under the Joint Selection Scheme -- up to six households may request to jointly select flats.
Image from HDB
HDB will also engage residents in shaping the new living environment, with the precinct's name and the use of certain spaces to be decided on collectively.
Those who do not wish to move to Ang Mo Kio Drive can apply for a flat elsewhere with their SERS rehousing benefits under the build-to-order or sale of balance flats exercise.
They could also sell or transfer their flats along with the SERS rehousing benefits.
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