HDB promises fair compensation for Rochor residents

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Rochor residents whose HDB flats will be acquired by the government to make way for the upcoming North-South Expressway (NSE) will not face a limited choice of new units.

The Strait Times reported that residents can apply for public flats in all new launches until end-2012.

In case their bids are unsuccessful, they will have a guaranteed replacement unit at the new Kallang project until 31 December 2012. The project is expected to be completed in 2016.

The Housing Development Board (HDB) said that appointed GSK Global valuers will ensure all residents are fairly compensated for their flats.

The affected residents’ compensation will be based on their homes’ market valuation on 15 November, the time the acquisition was announced. Earlier in November, the government announced details for the NSE’s southern stretch, which is set to be completed by 2020.

Other factors to be considered are past resale transactions, flat types, orientation, storey height and the extent of renovation.

The acquisition will affect 567 flats in four blocks, as well as 187 shops and food stalls in the 34-year-old Rochor Centre.

Flat owners will be informed of the compensation in the third quarter of 2012. Those who dispute the value can appeal to the Appeals Board, Land Acquisition.

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