The Government has identified Blocks 2 to 11 Teban Gardens Road for the Selective En bloc Redevelopment Scheme (SERS). This brings the total number of sites identified for SERS since its implementation in Aug 1995 to 71.


2         The blocks at this site comprises 917 sold flats, and they are between 30 to 31 years old. The property profile and location of these blocks are at Annexes A and B.

Replacement Flats For Flat Lessees Involved

3         HDB will build some 1,100 units of new 2,3,4 and 5-room replacement flats at Teban Gardens Road to rehouse the flat owners. The replacement flats are located at a convenient location, near the HDB commercial facilities at Block 61 Teban Place and the neighbourhood centre with a market/food centre at Block 37A. This will ensure that the residents will continue to enjoy the current wide range of shopping, eating and market facilities available in the estate.

4         Eligible SERS flat owners will be invited to register for their replacement flats in mid-2008. The implementation plan and rehousing benefits package are at Annexes C and D.

Information on SERS

5         To give residents a better understanding of the SERS plan and its benefits, HDB will hold an exhibition as follows:

Date	Time	Venue
15 Jul 2007 (Sun)	10.00 am to 5.00 pm	Hardcourt between Blocks 3 and 7 Teban Gardens Road
16 Jul (Mon) to 21 Jul 2007 (Sat)	2.30 pm to 9.30 pm

6         HDB will also inform all SERS flat owners individually. For further information, they can call the SERS enquiry line at 1800-866 3070.



ANNEX A

Property Profile of Blocks 2 to 11 Teban Gardens Road

Site Identified for Redeveloipment						Replacement Site
Storey Height	Completion Date	No. of Sold Flats				Location	Storey Height	Est. No Flats Available
		3-room	4-room	5-room	Total
10/14/20	1976/1977	672	120	125	917	Refer to Annex B	Up to 40 storeys	1,100

Note: *Someof the 5-room flats are converted flats, where the flat owners has bought two adjoining units converted them into one.

Site Plan for the SERS Site

( Site plan (206KB) )

Implementation Plan for Blocks 2 to 11 Teban Gardens Road

ACTIVITY	TIME PERIOD
Registration for replacement flats	Mid-2008
Construction of new replacement flats	Mid-2008
Completion of new replacement flats	End 2011

Rehousing Benefits for Eligible SERS Flat Owners

(a) Compensation for their existing flats based on the prevailing market value;

(b) Assured allocation of new flats at the designated replacement site if eligible;

(c) Purchase of replacement flats at subsidised prices frozen as at the date of SERS announcement;

(d) 20% price 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;

(e) Option to sell the rehousing benefits to eligible buyers;

(f) Exemption from the payment of resale levy for the existing flats;

(g) Concessionary housing loan for the replacement flats for eligible SERS flat owners, subject to credit assessment; and

(h) A comprehensive financial package to ease the cash flow for purchase of the replacement flats.

Note: Eligible SERS flat owners who do not wish to take up the new replacement flats can choose to sell their existing flats with the rehousing benefits to buyers who are eligible to buy flats directly from HDB. With the sale proceeds, which will include a premium for the rehousing benefits, they can then buy a resale flat in their preferred location.