The HDB has announced that blocks
74 to 80 Commonwealth Drive will be placed under the Selective
En Bloc Redevelopment Scheme (SERS). The flat owners will be
offered replacement flats that the HDB is currently building at
a nearby site. Eligible owners will be invited to register
around Q3 2009. The new flats are expected to be completed
around 2012 and 2013.
The affected blocks are 44 years
old and consist of 669 units including 24 rental shops and two
rental eating houses. The eligible shop/eating house tenants
will be given an ex-gratia payment of $60,000 per tenancy and a
10% discount on their successful bids for other HDB rental
commercial properties.
Rehousing benefits for eligible
SERS flat owners include compensation for their existing flats
based on the prevailing market value; purchase of replacement
flats at subsidised prices frozen as at the date of SERS
announcement; and 20% discount (up to $11,000, $22,000 and
$30,000 for singles, joint singles and families respectively) if
eligible, for the purchase of the replacement flats.