4 HDB blocks in Ang Mo Kio picked for Sers; over 600 households to receive market compensation
Four Housing Board blocks in Ang Mo Kio Avenue 3 have been picked for the Selective En bloc Redevelopment Scheme (Sers), the first such project announced since May 2018.
On Thursday (April 7), HDB announced the selection of Blocks 562 to 565, comprising 606 units, for redevelopment.
Completed in 1979, flats in these four blocks are around 43 years old, and comprise mainly three-room and four-room units.
There are also five five-room units and two executive flats in total across the four blocks. These units were converted from two adjoining three-room flats.
The site is the fifth in Ang Mo Kio to be selected for Sers. Blocks 246 to 252 in Ang Mo Kio Avenue 2, 3 and 4 were picked in 2006.
Sers, which began in 1995, involves demolishing old blocks, offering residents new units nearby and redeveloping the old site.
Flat owners of the 606 units will receive compensation based on the market value of their flats at the time of the Sers announcement. The market compensation is assessed by a professional private valuer appointed by HDB.
Owners will also receive a $10,000 removal allowance to defray moving expenses, and HDB will pay the stamp and legal fees for the purchase of a comparable replacement flat.
They will also be offered new replacement flats located in the nearby Ang Mo Kio Drive. Units there will range from two-room flexi to four-room flats.
Construction of the replacement flats will commence in the third quarter of next year and is estimated to be completed by the third quarter of 2027.
Owners have the option of purchasing these replacement flats at the designated replacement site, which comes with a fresh 99-year lease, almost double the lease of the existing flats by the time they move out in end-2027.
Other rehousing benefits include a Sers grant of $15,000 for singles, or $30,000 for families and joint singles, if eligible, for the purchase of the replacement flat.
They can also select replacement flats together with their neighbours or relatives, to live near one another.
Owners who do not wish to take up a new replacement flat can choose to sell their Sers flats with the rehousing benefits on the open market, said HDB.
"With the sales proceeds, which will include a premium for the rehousing benefits, they can buy a resale flat in their preferred location," the Board added.
HDB said it will conduct door-to-door home visits to explain the scheme to each household and address concerns, along with an exhibition and sharing sessions for residents.