Eunosville HUDB Estate Privatised

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Press release from HDB with regards to the privatisation of Eunosville,

The Eunosville HUDC Estate has been converted into a strata-titled property under the Land Titles (Strata) Act, with effect from 1 June 2011.

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 1 Jun 2011. The Management Corporation Strata Plan No. 3642 is also constituted on the same day to manage and maintain the common property of the estate.

Eunosville estate comprises 330 units of flats at Blocks 822, 824, 826, 828, 830, 832, 834, 836, 838 and 840 Sims Avenue. With the privatisation, the individual owners in the estate now own their respective strata units, as well as the common property such as the car parks and open landscaped areas, as tenants-in-common.

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% of the flats support it.

News of privatisation for Eunosville has been ongoing for a couple of years with some residents citing difficulty in coughing out $30,000 privatisation fees previously.

I suppose its one of the best time for them to get into the position since the big developers are low on their land banks. Another en bloc move underway?

Written by Benson Koh
Benson is a professional real estate realtor with over 11 years of experience specializing in all forms of real estate consultancy and brokeraging of different segments from regal homes to commercial spaces. Also a boutique developer, he manages both SRI5000 Developments which concentrates on landed homes as part of his land bank segment and Singapore Realtors Inc (SRI), a real estate agency which has over 7 years of group experience. You can reach him here via various channels. [ Facebook | Linkedin | Twitter | RSS Feed ]