Sep 15, 2010
Privatising HUDC estate is the residents' call
I REFER to the letter by Mr Justin Zhuang ('Why it's not right to privatise my HUDC'; Aug 28).
HUDC flats were built in the 1970s and 1980s as a housing option for middle-income Singapore citizen families.
The scheme to privatise HUDC estates was announced in 1995 as part of the Government's effort to meet the rising aspirations of Singaporeans to own private housing.
Privatisation enables the flat owners to have better control over the management of their estate.
The decision to proceed, or not, with the privatisation lies entirely with the residents.
A mandate for privatisation from at least 75 per cent of the flat owners of the estate must be obtained before privatisation may proceed.
HDB will facilitate the process only if the required mandate is obtained.
In determining the conversion cost, HDB needs to take into account the redevelopment potential and the current market value of the land.
Nonetheless, a concession is provided to cap the conversion cost at $30,000 per flat.
However, the concession cannot be extended indefinitely; hence, residents will have to obtain the mandate for privatisation within a three-year grace period to enjoy this concession.
Wen-Tan Hui Kuan (Mrs)
Deputy Director
(Projects & Development)
Housing & Development Board
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