Clementi buddies

[Dirkenberg 0]

Hi Dirkenberg,

I think by the time we get our flats would be probably after June 2011. This is the slowest ever construction for enbloc i think. The fastest was Strathmore Ave. Shopping centre will most likely be around June 2011 as well i think.

I was wondering where the letterbox for Blk 441B will be. Do you know where? Imagine this in future: - it was raining and you took MRT back home and from the link at 2nd floor you come into the shopping centre but i think there is no lift directly from the shopping centre to your flat. Take the lift from commercial and come to 6th floor and look for residential lift to reach yr flat. I'm guessing this based on my observation fm carpark.

I am also paying my loan for this flat. Based on the compensation amt given and your outstanding loan - assuming your compensation is $230K and yr purchase price for this current flat is $200K andyou are still servicing your balance loan amount of $10K - the compensation will be used to discharge your loan amt of $10K. Whatever you have paid so far will be used to pay for the new SERS flat. Since it is not fully paid HDB will not give you advance of $10K to do reno. It is only for those whose flat is fully paid.

I haven't really give a thought on the location of the letter boxes. *lol*. Regarding the residential lifts, i had the impression they were on the ground floor on the long corridor along the Singapore Post stretch (can't remember what's that block number), judging by the 2 signages that points to "Lifts for 441B". They are now currently sealed up so i had no idea if my assumption is correct. It's interesting to have the residential lifts on the 6th floor just like the set-up of a hotel lobby. Well, i have yet to explore 441A and the car park to figure this out though. How will / can all the shifting take place?

Thanks for your advice on the compensation. I remembered reading along the lines (on advanced payment) from the HDB website but i'm still not 100% clear about the formulaes.

Taking your example, :-

Compensation of en-bloc flat : 230K

Purchase price of replacement flat : 200K

Outstanding loan of en-bloc flat : 10K

Here's where i start to get confused :-

Compensation used to discharge existing loan amount : 230K - 10K = 220K

Balance of compensation (220K) - purchase price of replacement flat (200K) = 20K

So what will happen to the 20K?

HDB's definition for Advanced Payment states that :-

You receive an advance payment amount up to $25,000 per flat, from (balance) compensation for renovation and removal expenses.

You must maintain a minimum balance compensation of: $3,000 for 1 & 2-room flats, or, $10,000 for 3-room or bigger flats

How do i interprete that?

[Always Happy 0]

Ya lor, it's really very very very the expensive.

i don't even get the 30k discount. Me sold a subsidy flat before and need to pay the resale levy. The 30k to be used to offset the levy..

I am no better really.

So your replacement choice will be 3/4/5rm?

I am really undecided. Am likely to get 3rm back

i really wish to stay high, but not within my means at all, every storey cost 2k.

Edited February 17, 2011 by Always Happy

[Clement08 0]

Ya lor, it's really very very very the expensive.

i don't even get the 30k discount. Me sold a subsidy flat before and need to pay the resale levy. The 30k to be used to offset the levy..

Hi 322, I also sold a subsidy flat, I din not pay levy at that time. So I opted to pay the levy base on the old system (ie, 10% of the sale value with 5% interest for 20%)which is much cheaper that using the $30 to offset.

[hdbfan 0]

I haven't really give a thought on the location of the letter boxes. *lol*. Regarding the residential lifts, i had the impression they were on the ground floor on the long corridor along the Singapore Post stretch (can't remember what's that block number), judging by the 2 signages that points to "Lifts for 441B". They are now currently sealed up so i had no idea if my assumption is correct. It's interesting to have the residential lifts on the 6th floor just like the set-up of a hotel lobby. Well, i have yet to explore 441A and the car park to figure this out though. How will / can all the shifting take place?

Thanks for your advice on the compensation. I remembered reading along the lines (on advanced payment) from the HDB website but i'm still not 100% clear about the formulaes.

Taking your example, :-

Compensation of en-bloc flat : 230K

Purchase price of replacement flat : 200K

Outstanding loan of en-bloc flat : 10K

Here's where i start to get confused :-

Compensation used to discharge existing loan amount : 230K - 10K = 220K

Balance of compensation (220K) - purchase price of replacement flat (200K) = 20K

So what will happen to the 20K?

HDB's definition for Advanced Payment states that :-

You receive an advance payment amount up to $25,000 per flat, from (balance) compensation for renovation and removal expenses.

You must maintain a minimum balance compensation of: $3,000 for 1 & 2-room flats, or, $10,000 for 3-room or bigger flats

How do i interprete that?

Hi Dirkenberg,

The lifts will be on the ground floor but for those who drive and park or shop can go to 6th floor and transfer to your flat.

I'm not very sure but i guess it will be written off.. the compensation amount is just to put a 'value' to your current flat which actually has no value since it will be demolished. HDB will never pay you any balance for such example. My case is similar like my future flat is cheaper and the current flat's price is higher but i haven't fully paid up yet. Ultimately it depends on how much you have paid via CPF for this current flat which will be transferred to your future flat. I hope i'm correct lah.... in the meantime just focus on how you intend to 'shape' your future flat.

Edited February 18, 2011 by hdbfan

[322 0]

Hi 322, I also sold a subsidy flat, I din not pay levy at that time. So I opted to pay the levy base on the old system (ie, 10% of the sale value with 5% interest for 20%)which is much cheaper that using the $30 to offset.

Hi Clement08, can you elaborate abit on how you pay the levy base on the old system.

Currently, we're given 3 options, but seems like don't have the option you've mentioned.

[Clement08 0]

Hi Clement08, can you elaborate abit on how you pay the levy base on the old system.

Currently, we're given 3 options, but seems like don't have the option you've mentioned.

I sold a 3rm flat in 1990 for $25k and I did not pay any levy at that time. HDB wrote to me in Aug 05 that I need to pay levy becos due to SERS I am buying a flat direct from HDB. I was given 3 options :

Opt 1- a min partial premium payment of $30k which will be incorporated as part of the selling price of the replacement flat. The balance of the premium in ecess of $30k can be deferred, without interest, until I sell or transfer the ownership of the replacement flat.

Opt 2 - Change resale premium to resale levy - Seek HDB approval to change option 10% premium to payment of resale levy at the old rate of 10% (3-room flat). ie 10% of resale price plus an interest at 5% p.a.

Opt 3- Forfeit the 20% price discount (up to $30k) in lieu of payment of resale premium under SERS.

I Opted for Opt 2- resale price $25k x 10% = $2.5k + interests for 20years, total I paid cash around $5.2k. Very much cheaper than forfeiting the $30k.

U may not have this option becos depend on when u sold ur flat.

[Always Happy 0]

SERS exhibition is on at 321 till sun.

Curious folks can view, or the link below

Surprisingly layout is good.

http://www.hdb.gov.sg/fi10/fi10329p.nsf/w/...n?OpenDocument#

[hdbfan 0]

SERS exhibition is on at 321 till sun.

Curious folks can view, or the link below

Surprisingly layout is good.

http://www.hdb.gov.sg/fi10/fi10329p.nsf/w/...n?OpenDocument#

Hi Always Happy,

During our time the exhibition showed the flat's internal layout to be like upon entry you see hall and the rooms will be all in one side but unfortunately that layout design was only for the point blk. the slab blk's internal layout is not like that. HDB always will put a disclaimer that the layout/design may change without prior notice.

[322 0]

I sold a 3rm flat in 1990 for $25k and I did not pay any levy at that time. HDB wrote to me in Aug 05 that I need to pay levy becos due to SERS I am buying a flat direct from HDB. I was given 3 options :

Opt 1- a min partial premium payment of $30k which will be incorporated as part of the selling price of the replacement flat. The balance of the premium in ecess of $30k can be deferred, without interest, until I sell or transfer the ownership of the replacement flat.

Opt 2 - Change resale premium to resale levy - Seek HDB approval to change option 10% premium to payment of resale levy at the old rate of 10% (3-room flat). ie 10% of resale price plus an interest at 5% p.a.

Opt 3- Forfeit the 20% price discount (up to $30k) in lieu of payment of resale premium under SERS.

I Opted for Opt 2- resale price $25k x 10% = $2.5k + interests for 20years, total I paid cash around $5.2k. Very much cheaper than forfeiting the $30k.

U may not have this option becos depend on when u sold ur flat.

It will not be cheaper for me if I select opt 2, my resale price 2yrs plus ago was $300k. So I only left with option 3, which is to pay the market price.

[322 0]

Just now I went up to the new point block at Clementi Mall and one unit is doing renovation, the worker let me in to take a look, but he's not sure of the size of the unit.

Anyone can tell me the unit on the left, facing the mrt station, is it a 85sqm 4rooms? I'm like to know the size of that unit. So that I can decide which size to choose from when my turn comes.

I noticed that the household shelter door is inside the kitchen, think it's a better design. If it's at the living room may need to spend money to cover up the door.

[Clement08 0]

Just now I went up to the new point block at Clementi Mall and one unit is doing renovation, the worker let me in to take a look, but he's not sure of the size of the unit.

Anyone can tell me the unit on the left, facing the mrt station, is it a 85sqm 4rooms? I'm like to know the size of that unit. So that I can decide which size to choose from when my turn comes.

I noticed that the household shelter door is inside the kitchen, think it's a better design. If it's at the living room may need to spend money to cover up the door.

I see, so u do not have tat optn 2, due change in the levy system.

The 5 rms are 110m2 (1184 sqf) and the 4 rms are 90m2 (968 sqf).

[322 0]

I see, so u do not have tat optn 2, due change in the levy system.

The 5 rms are 110m2 (1184 sqf) and the 4 rms are 90m2 (968 sqf).

Don't have that option leh.

Our option 2: You can incorporate $30k of the Premium as part of the selling price of the replacement flat. The balance can be deferred without interest, till you sell or transfer your replacement flat.

If i choose this option and discounted 4rm flat selling price is $438K.

The calculation: Premium($438K x 20%=$87.6k), $87.6K - $30K =$57.6K.

I still need to pay $57.7k if i sell my replacement flat next time. My resale levy only 45k. Nuts to choose this option!

I really don't understand this option, need to check with the HDB officer to explain is this how it works.

The kitchen is really small hor. I think I cant choose 85sqm liao, else it will be really tiny.

[Clement08 0]

Don't have that option leh.

Our option 2: You can incorporate $30k of the Premium as part of the selling price of the replacement flat. The balance can be deferred without interest, till you sell or transfer your replacement flat.

If i choose this option and discounted 4rm flat selling price is $438K.

The calculation: Premium($438K x 20%=$87.6k), $87.6K - $30K =$57.6K.

I still need to pay $57.7k if i sell my replacement flat next time. My resale levy only 45k. Nuts to choose this option!

I really don't understand this option, need to check with the HDB officer to explain is this how it works.

The kitchen is really small hor. I think I cant choose 85sqm liao, else it will be really tiny.

The reason by they have this option is because some people may not have this amount of cash to pay outfront.

At my pt blk, those getting 4rms (90sqm) complaining tat the kitchen is small. Some of them put the fridge in the yard.

[322 0]

The reason by they have this option is because some people may not have this amount of cash to pay outfront.

At my pt blk, those getting 4rms (90sqm) complaining tat the kitchen is small. Some of them put the fridge in the yard.

At ur pt bk isit two 4rms at one corner and two 5rms at the other corner?

[ausbee 0]

it's 1 4-room and 1 5-room at 1 corner.

Edited February 23, 2011 by ausbee