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.