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View Full Version : Neptune Court On Privatisation Path Now


tkc2263
02-12-11, 13:50
Neptune Court, an ex HUDC estate, is now undergoing privatisation.

Privatisation costs is now valued at S$64.5m, which means residents have to cough out this sum to buy over the common areas in the estate from the MOF. Once it is privatised, residents can down the road put up the estate to go en bloc.

75% of the owners' approval is needed and the deadline is 17/01/2012.

Just a little bit of history, the privatisation costs were once quoted $144m, $40m and now $64.5m

Neptune Court units "come" in 2 sizes; 1636 and 1350 sq ft.

Those in the bigger units need to fork out almost $90k. Not too sure for the smaller units, probably $20-$25k less.

Apparently the exercise has been on for about a month, and according to sources, response has been encouraging. :cheers4:
land118
02-12-11, 15:30
After tis exercise, residents have to compete with Laguna for developers' attention to enbloc..., another $1bil project....:scared-3:
tkc2263
02-12-11, 15:50
After tis exercise, residents have to compete with Laguna for developers' attention to enbloc..., another $1bil project....:scared-3:

Apart from Laguna Park, there are also Mandarin Gardens, Lagoon View, Bayshore Park and if you want to stretch your imagination further, The Bayshore can also be included..

This belt is the most en bloc stretch in Singapore right now, prices willing of course.
tkc2263
20-02-13, 22:26
Since I initiated this thread, I would like to close this thread.

Not that it matters anymore, the writings have been on the wall since the high privatisation costs was made known.

As a result of being tagged the same amount as before at S$64.5m, the privatisation committee has formally been disbanded and dissolved.
Pinball
21-02-13, 16:41
sorry to hear that, is this your investment property or for own stay bro? NC is a nice project, nice view too.


Since I initiated this thread, I would like to close this thread.

Not that it matters anymore, the writings have been on the wall since the high privatisation costs was made known.

As a result of being tagged the same amount as before at S$64.5m, the privatisation committee has formally been disbanded and dissolved.
eng81157
22-02-13, 07:46
erm, why can't the developer negotiate directly with MoF for the common areas and purchase the units from owners?
tkc2263
22-02-13, 21:52
sorry to hear that, is this your investment property or for own stay bro? NC is a nice project, nice view too.

Own stay since 2005. I have partial view of the sea but the trees are growing real fast, in time to come, no more view.

I bought it at low price. I do have an investment property that is currently leased out.
Pinball
23-02-13, 11:11
a relation of mine used to stay there when i was young and i remember that his unit was spacious and had a lovely seaview. pity that it is 99lh as it would otherwise be a keeper


Own stay since 2005. I have partial view of the sea but the trees are growing real fast, in time to come, no more view.

I bought it at low price. I do have an investment property that is currently leased out.
VS
27-02-13, 21:51
erm, why can't the developer negotiate directly with MoF for the common areas and purchase the units from owners?

the developer being not the owner, is not able to negotiate on the owners' behalf.
vratenza
01-04-13, 09:39
for general knowledge sake, what happens or expected to happen to these ex-HUDC properties which did not manage to privatise?

don't think they are eligible for SERs?

the property value does down in linear fashion till end of lease?

:beats-me-man:
Jaykj
01-04-13, 15:43
for general knowledge sake, what happens or expected to happen to these ex-HUDC properties which did not manage to privatise?

don't think they are eligible for SERs?

the property value does down in linear fashion till end of lease?

:beats-me-man:

I would assume that is the case for 99LH properties. Even for HDB, do not assume that Govt will SERs your place eventually and compensate you an equivalent unit nearby.

But I'm bias as I'm vested in FH propoerties. Even then, I'm sure IF the govt wants to take back FH land, they can and will. It has happened before when our population was only 1 mil...so who dare to bet when our population is heading towards 5.5-6-7mio.....even FH landed.
SGPropertyKaki
19-11-17, 07:32
Laguna Park and Lagoon View going for collective sales soon. What about Neptune Court?