Breaking News: Eunosville is now privatised!

By The Folks @PropTalk - June 1, 2011 No Comments

The 330-unit Eunosville HUDC Estate has been privatised under the Land Titles (Strata) Act, with effect from June 1.

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.

The Marine Parade Town Council will cease its responsibility in the management and maintenance of the common properties of the estate with immediate effect.

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.

Source: The Straits Times

Hmm... next stop, en bloc...?


No Comment to " Breaking News: Eunosville is now privatised! "