The Housing and Development Board revealed on August 3 the new site for the Selective En bloc Redevelopment Scheme (SERS) which is along West Coast Road. The site is the 80th to benefit from the scheme after its introduction in 1995.
The affected residents of about 1000 flats must evacuate by the second quarter of 2023. They will be offered housing units in Clementi town along Clementi Avenue 1 and West Coast Link with more than 1,300 units that are due for completion in the third quarter of 2022. The units have leasehold of 99 years. This means that the residents will move to new homes close to their neighbors.
To ensure the market certainty, the flats will be frozen at the SERS announcement, to prevent any further market movements. The residents will also get them at subsidized prices and they will be the first to choose the flats and the remaining ones will be sold to the public via Sale of Balance Flats (SBF).
The new unit’s site is well-developed with many amenities close by. These include notable shopping malls such as Clementi Mall and West Coast Plaza. Clementi MRT is a short distance away. The site also neighbors upcoming condominiums such as The Trilinq @ Clementi and Clement Canopy.
Some of the developments the SERS plan intends to bring to the area are two sold shops that will be established in Block 516 and Block 517 will get twelve sold shops. The payment for owners of the commercial property will depend on the market value right after the announcement of SERS.
Singles who are eligible and want to purchase a replacement unit can get SERS grant of $15000. Joint singles and families can qualify for $30,000 SERS grant.
SERS Flat owners and commercial property owners will get updates about the plans from HDB.