Asked by PLC
Does anyone know if Lagoon View and neptune Court has been privatised?
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4 Answers
Last time I got an update for neptune court was in March 2010 - abt them appointing a law firm to undertake the privatisation. It's a long process, still many negotiations and voting etc to go through. My guess is it'll still take some time before privatisation becomes reality.
Privatisation of Neptune Court & Lagoon view hav always received mixed feelings from their residents all these years.
Owners of neptune court (and all other HUDCs out there) will need to pay a lump sum not to SLA but to Ministry of Finance (which owns the land) should they be privatised (which is step 1 to a collective sale AKA enbloc).
[To put it simply, Neptune Court is a Housing and Urban Development Company (HUDC) housing which is under our government BUT falls FAR from the same category of HDB (different governing legislation etc).]
In regards to your last question, i might be wrong but all property ownership / title information are under SLA, which you can check at http://www.inlis.gov.sg.
Regards,
Eugene
91004246
eugypt@hotmail.com Read More
Privatisation of Neptune Court & Lagoon view hav always received mixed feelings from their residents all these years.
Owners of neptune court (and all other HUDCs out there) will need to pay a lump sum not to SLA but to Ministry of Finance (which owns the land) should they be privatised (which is step 1 to a collective sale AKA enbloc).
[To put it simply, Neptune Court is a Housing and Urban Development Company (HUDC) housing which is under our government BUT falls FAR from the same category of HDB (different governing legislation etc).]
In regards to your last question, i might be wrong but all property ownership / title information are under SLA, which you can check at http://www.inlis.gov.sg.
Regards,
Eugene
91004246
eugypt@hotmail.com Read More
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If these 2 developments are as what you have mentioned only HUDC estates now, then technically, they do not have any "enbloc" right so to speak.
That being the case, the asking prices of residential units within these developments may then seem to be overpriced if you compare it to the already premium HDB prices in Marine Parade.