My SERS Guide a New Beginning at Dawsonesales.hdb.gov.sg/hdbvsf/eampuadp.nsf/0/SE_Images/$file/My...

Dawsona New Beginning at

My SERS Guide

全新的生活体验就在杜生!

Welcome aboard the journey to your brand new home!The Selective En bloc Redevelopment Scheme (SERS) offers you the unique opportunity to move to a new and modern home with a fresh 99-year lease, while at the same time remain close to your neighbours.

In this journey of a few years till your new home is ready, our SERS team is here to take care of you every step of the way. This SERS guide gets you started on the journey and provides you with the information to make the best choice for you and your loved ones. For your convenience, we have provided the same information on the HDB InfoWEB at www.hdb.gov.sg/esers.

We assure you that our team will spare no efforts in making your journey as smooth as possible. If you need help at any time, please contact our officer or approach us through our contact channels found at Our Contact Information. We look forward to sharing this special journey alongside you.

The SERS team

Our Message

11

Contents

My SERS Journey

My Compensation

My New Home at Dawson

How Do I Finance...

... And Select My New Home?

My Rehousing Options

My Rehousing Benefits

Further Explanation

Our Contact Information

2

15

6

18

4

16

14

26

30

2

A professional private valuer will make an appointment with you to assess the market value of your flat.

You can make a good impression by tidying your flat!

3. Flat Valuation3Q 2014

You will be informed of your compensation amount.

5. Compensation NoticeMid 2015

Your flat has been selected for SERS! The SERS journey begins now.

A two-week exhibition on SERS is held near you. Come and learn more about your new home!

Avoiding the evening and weekend crowds might be a good idea.

Come down to HDB Hub at Lorong 6 Toa Payoh to verify the ownership of your flat.

Let us customise an estimated financial plan for you.

1. Announcement27 Jun 2014

2. Exhibition30 Jun - 13 Jul 2014

My SERS Journey

4. Collector’s Inquiry3Q/4Q 2014

3

Dawson, BTO, sell, transfer or opt-out? Make a choice on your Rehousing Option.

Do take note of the various deadlines.

The sales brochures and price lists will be mailed to you along with your balloted queue number before the selection begins.

Come down to HDB Hub at Lorong 6 Toa Payoh to book your new home!

You have up to 4 months to renovate and move to your new home.

Return your SERS flat to receive your balance compensation (if any).

If you’ve set your eyes on a new home at Dawson, you will need to return your application form to us.

Your new home is completed! We are pleased to hand over the keys to you at HDB Hub.

After paying off the liabilities of your SERS flat, you may use the balance compensation to contra the payments required for the new home or request for an advance of up to $35,000 to help you with your renovation.

To mark the completion of your SERS journey, join us in a Welcome Party specially organised for you and your neighbours!

6. Your Rehousing Choice3Q/4Q 2015

8. Selection of New Flat1Q 2016 10. Moving Out

2020/2021

7. Registration for New Flat3Q 2015

9. Keys Collection2020/2021 - Payment required

11. Welcome Party2021/2022

4

You will be paid the market value of your existing flat as at the time of the SERS announcement and some reasonable expenses to help you relocate.

+

+=

&

Total SERSCompensation

Market Value of SERS flat at the time of announcement

Reasonable Expenses

Removal allowance at $10,000 per flat

Stamp and legal fees1 (for buying a flat type equivalent to SERS flat)

The market value of each flat will be assessed individually by a professional licensed private valuer.

Some of the factors and flat attributes taken into consideration are:

My Compensation

Transacted prices of comparable

resale flats

Flat type and size

Storey height

Remaining lease

Extent of renovation

Flat orientation

etc.

1 Refer to Page 26 for Further Explanation.

5

Estimated total compensation for 2-room flat owners

Internal Floor Area 39-42 m2 43-46 m2

Market Value of SERS flat $255,000 - $275,000 $270,000 - $295,000

Reasonable Expenses $13,600 - $14,000 $13,900 - $14,400

Total $268,800 - $289,000 $283,900 - $309,400

Estimated total compensation for 3-room flat owners

Internal Floor Area 49-53 m2 56-66 m2

Market Value of SERS flat $305,000 - $340,000 $325,000 - $390,000

Reasonable Expenses $14,600 - $15,300 $15,000 - $16,700

Total $319,600 - $355,300 $340,000 - $406,700

The estimated ranges of compensation for the SERS flats are shown below:

You must not remove the fixtures and fittings2 as they are included in the valuation of your SERS flat.


Estimated total compensation for Households on the Lease Buyback Scheme or owning adjoining flats will be provided separately.

6

Site A1,220 units

Site B1,180 units

Site E247 units

Site C818 units

Site D242 units

The number of new flats to be built may change due to the adjustment of flat mix to meet the rehousing needs of residents.

Not drawn to scale.

Your new home may be in one of these five brand new precincts located near the Queenstown MRT. Boasting unique architectural designs and lush landscape features, there is a total of about 3,700 units of new flats for your selection.

You are assured of finding a new home in one of these attractive developments.


7

Site B: New premium flats at Margaret Drive (1,180 units)

Flat Type

2-room (45 m2)

3-room (60 m2)

4-room (80 m2)

4-room (85 m2)

5-room (105 m2)

Site A: New premium flats at Margaret Drive (1,220 units)

Flat Type

2-room (45 m2)

3-room (60 m2)

4-room (80 m2)

4-room (85 m2)

5-room (105 m2)

Site C: New premium flats at Dawson Road (818 units)

Flat Type

2-room (45 m2)

3-room (60 m2)

4-room (80 m2)

4-room (85 m2)

5-room (105 m2)

Flat Types AvailableThe new flats are sold at HDB’s subsidised selling prices and frozen at the time of the SERS announcement. They are not subject to future market movements, thereby providing you with greater certainty.

Estimated Completion: 4Q 2020



8


Site D: New standard flats at Dawson Road (242 units)

Flat Type

3-room (60 m2)

4-room (85 m2)

5-room (105 m2)

Site E: New premium flats at Strathmore Avenue (247 units)

Flat Type

2-room (45 m2)

3-room (60 m2)

4-room (80 m2)

4-room (85 m2)

Flat Type (Internal Floor Area^)

Estimated subsidised price# (before SERS grant3)

2-room (45 m2) $205,000 - $255,000

3-room (60 m2) $284,000 - $386,000

4-Room (80 m2) $434,000 - $562,000

4-Room (85 m2) $461,000 - $590,000

5-Room (105 m2) $601,000 - $748,000

^ Refers to the estimated area of the flat computed based on the centre line of the flat’s wall. The area of the air-conditioner ledge is excluded for this computation.

# For typical flats sold on a 99-year lease and exclude the small number of units with 3 m2 balcony.




9

Illustration for a 2-room flat owner buying a 2-room flat

Internal floor area of existing flat 39-42 m2 43-46 m2

Estimated market value of existing flat on 5th storey

$265,000 $282,500

Internal floor area of new flat 45 m2 45 m2

Estimated subsidised selling price of new flat on 10th storey after $30,000 SERS grant

$202,000 $202,000

Net Receipt (cash/ CPF) $63,000 $80,500

Illustration for a 3-room flat owner buying a 3-room flat

Internal floor area of existing flat 49-53 m2 56-66 m2

Estimated market value of existing flat on 5th storey

$322,500 $357,500

Internal floor area of new flat 60 m2 60 m2

Estimated subsidised selling price of new flat on 10th storey after $30,000 SERS grant

$299,000 $299,000

Net Receipt (cash/ CPF) $23,500 $58,500

Premium flats come with full height windows in the living/dining area and full height or three-quarter height (measured from ceiling down) windows in the bedrooms. For standard flats, three-quarter height windows are provided in the living/dining area and half height windows in the bedrooms. Selected premium flats may be provided with balconies.

Generally, the compensation for your existing flat should be sufficient to pay for a new flat of the same flat type at a similar storey height. You will usually have to top up in cash or CPF if you buy a bigger flat type.

This computation is for illustration purposes only. It is assumed that all CPF refunds are used to buy the new flat, the flat owner is eligible for a SERS grant of $30,000 and there is no existing housing loan for the SERS flat. The net receipts/payments for different households will differ due to different financial circumstances.

10


4 Refer to Page 26 for Further Explanation. All images are for illustration only.

Sanitary fittings Internal doors Bedroom floor finishes(premium flats)

Dining/ Living room and bedroom floor finishes

Main door and gate Windows

Kitchen wall and floor tiles

Standard Provisions

Optional Component Scheme

Wall sockets

All new flats come with standard provisions such as:

To save you the hassle of renovation, you may opt for sanitary fittings, internal doors for the bathroom/bedrooms and/or floor finishes for the living/dining/bedrooms and kitchen partition wall under our Optional Component Scheme4 (OCS).

You may opt in for these optional components when you select your flat. The cost of these components will be added to the selling price of your new home. With more fittings and finishes installed, you can look forward to an easier time renovating the new home!

Inside my new home

11

Ideas for your new home

Estimated cost for opting in all packages under OCS for

Flat Type

2-room (45 m2)

3-room (60 m2)

4-room (80 m2)

4-room (85 m2)

5-room (105 m2)

Premium Flats at Sites A to C and E

$3,400 $7,400 $10,600 $11,000 $12,600

Standard Flats at Site D

Not applicable $5,400 Not applicable $8,600 $9,800

A new home is just the place for you to express yourself. Here are some ideas of what your new home can look like after your renovations!

To provide a sense of spaciousness and greater flexibility in furniture layout and design, some of the 4-room and 5-room flats in Dawson will come with an open kitchen concept. Alternatively, you may opt in to have a partition wall installed between the living/dining area and kitchen.

12


Artist’s Impression

Modern Living at its Best

A brand new hawker centre and supermarket will be built at Margaret Drive to bring you daily convenience at your doorstep.

The former wet market at Commonwealth Avenue will be integrated into your new homes at Margaret Drive to retain shared memories of Queenstown.

Sports enthusiasts will appreciate the range of facilities like the Queenstown Swimming and Sports Complex and the Alexandra Canal Linear Park Connector. Families with school-going children can choose from the many well-equipped schools set to develop young minds to their fullest potential. With your new home a mere ten-minute drive away from the trendy Orchard Road shopping belt, meeting friends in town will simply be a breeze.

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Within a Tranquil RetreatAfter a hard day’s work, forget the hustle and bustle of the city and come home to a tranquil environment with green spaces for relaxation, interaction and bonding.

Your new environment is thoughtfully designed to provide ample social and recreational facilities such as precinct pavilions, 3-G fitness corners and landscaped gardens. Feel completely at ease as you watch your children or grandchildren play in the playgrounds amid a safe, vehicular-free green space. Come rain or shine, covered linkways between the blocks and sheltered car park will facilitate your ease of movement.

Make Dawson your home and look forward to a new and joyful living experience. Artist’s Impression

14

+ -

Outstanding Amount for New Flat

=

less SERS Grant!(if eligible)

Balance Compensation (excluding $1,000 Retention Sum)

Personal Savings

CPF Savings of Additional Co-owner

New Housing Loan

Pay

Discharge

Refund

Balance Compensation may comprise

Property Tax

outstanding Housing Loan

CPF (with accrued interest)

$35,000 Advance Payment

Cash Proceeds

$1,000 Retention SumTotal

Compensation for SERS flat

Selling Price of New Flat

Stamp and Legal Fees (for your new flat)

CPF Savings in OA (including Refunded

CPF monies)

Your total compensation will first be used to pay off the financial liabilities of your SERS flat, before the balance compensation (if any) is given in cash. To help you renovate your new flat, an Advance Payment of up to $35,000 from your balance compensation (after setting aside a $1,000 Retention Sum) may be given to you when you collect the keys to your new flat.

Next, you will be able to use all your CPF monies (refund and savings) in your CPF Ordinary Account (OA) to pay for your new flat. In the event that your CPF monies are insufficient to pay for your new flat, there will be an outstanding amount.

You may pay this outstanding amount using: your balance compensation, CPF monies of an additional (eligible) co-owner(s) of the new flat, personal savings and/or a new housing loan.

After paying for your new home, you will receive the remainder of the balance compensation (if any, and at least the retention sum) when you return your SERS flat.

Balance(if any)

Can be paid with

How do I Finance...

1515

Step

Step

Step

1

2

Q1 Q2

Q3

A

A

A

3

Here are some other questions you may have.

At your appointed time and date, come down to HDB Hub to select an available flat from one of the five Dawson developments.

During the registration exercise, indicate your preferred flat type (2-,3-,4- or 5-room). You will not be able to state your preferred new precinct, but your choice of flat type at this stage is final.

A computer ballot will be conducted to randomly determine the order in which you are invited to book a new flat. All flat owners are given equal priority.

Can I choose to live close to my neighbours at my new home?

Will I definitely get the flat type I want?

Can my married child buy a flat at Dawson too?

Not a problem! Our Joint Selection Scheme allows up to 6 households to choose flats on the same day.

If you and your neighbours request for the Joint Selection Scheme in your flat applications, a single queue number will be assigned to all the participating households. Among the households, there will be individual queue sequences.

Allocation of new flats is subject to availability. Based on our experience, flat owners have been able to secure the flat type that they have applied for.

The flats at Dawson are currently only for SERS flat owners. If your child is eligible to buy a flat directly from HDB, he may consider buying a resale flat in the SERS site. He may then enjoy the SERS rehousing benefits and take up a replacement flat close to you.

... And Select My New Home?

16

Options Available Deadline

1. Take up a new, 99-year lease flat at Dawson 3Q 2015

Consumption of Housing SubsidyThe purchase of a replacement flat will be treated as one separate housing subsidy.

Purchase of Private Property / Resale of Replacement FlatFlat owners are not allowed to buy/acquire an interest in a Private Property5 after the SERS announcement date. Flat owners may buy/acquire an interest in a Private Property5 or sell the replacement flat only after (i) five years from the collection of keys or (ii) seven years from the selection of the replacement flat, whichever is earlier.

Subletting the Replacement FlatFlat owners (Singapore citizens only) may sublet the whole flat only after physically occupying the replacement flat for at least five years from the collection of keys. Prior approval must be obtained from the HDB to sublet the whole flat.

2. Apply for a flat elsewhere under Build-To-Order (BTO) or Sale of Balance Flats (SBF) exercise with a 10% Priority Allocation6 and enjoy the same Rehousing Benefits

31 Oct 2015

Consumption of Housing SubsidyThe purchase of a replacement flat elsewhere will be treated as one separate housing subsidy.

Purchase of Private Property / Resale of Replacement FlatFlat owners are not allowed to buy/acquire an interest in a Private Property5 after the SERS announcement date. Flat owners may buy/acquire an interest in a Private Property5 or sell the replacement flat only after five years from the collection of keys to the replacement flat.

Subletting the Replacement FlatFlat owners (Singapore citizens only) may sublet the whole flat only after physically occupying the replacement flat for at least five years from the collection of keys. Prior approval must be obtained from the HDB to sublet the whole flat.

Completion of BTO/SBF Flat ElsewhereThe Delivery Possession Date (DPD) of your BTO/SBF flat elsewhere must not be later than 31 Dec 2021.

3. Sell/Transfer your SERS flat with Rehousing Benefits (option available from 27 Jul 2014)

31 Aug 2015

Consumption of Housing SubsidyThe sale of the SERS flat with rehousing benefits will be treated as one separate housing subsidy. If the SERS flat was bought directly from HDB or from the open market with a CPF Housing Grant, flat owners will be deemed to have enjoyed two housing subsidies after the sale of the SERS flat with rehousing benefits. Flat owners will also be deemed to have enjoyed one SERS benefit.

Sale of SERS flat with Rehousing BenefitsFlat owners are only allowed to sell the SERS flat to families (excluding non-citizen spouse families) who are eligible to buy flats directly from HDB. Generally, buyers will be given the same rehousing benefits as the flat owners. However, if the flat owners (i) have not met the minimum occupation period for the SERS flat or

Here are the options you may consider.

My Rehousing Options

5 6 Refer to Page 26 for Further Explanation.

17

Options Available Deadline

(ii) have sold a private property within 30 months prior to the SERS announcement date, the buyers will not be given any SERS grant.

Flat owners may obtain a preliminary assessment of the rehousing benefits to be given to their buyers from www.hdb.gov.sg/esers. Flat owners who wish to sell the SERS flat may request for a Certificate of Eligibility for Resale (COER) from HDB before granting the Option to Purchase to the buyers.

Transfer of SERS Flat with Rehousing BenefitsFlat owners may transfer the SERS flat to another owner(s) under the prevailing transfer conditions. After the transfer, the rehousing benefits will be assessed based on the more restrictive set between the two parties.

Purchase of Private PropertyFlat owners may buy a Private Property5 only upon the legal completion of the sale or transfer of the SERS flat.

4. Receive ex-gratia payment on top of compensation in place of SERS Rehousing Benefits

-

Amount of Ex-gratia PaymentGenerally, the ex-gratia payment offered is $30,000 plus the flat owners’ applicable SERS grant. However, if the flat owners (i) have not met the minimum occupation period for the SERS flat or (ii) have sold a private property5 within 30 months before the date of application for ex-gratia payment, they will not be eligible for the SERS grant. It follows that their ex-gratia payment will be $30,000. The amount will be paid 50% in cash and 50% into the CPF Ordinary Account(s).

Consumption of Housing SubsidyThe ex-gratia payment will be treated as one separate housing subsidy. If the SERS flat was bought directly from HDB or from the open market with a CPF Housing Grant, flat owners will be deemed to have enjoyed two housing subsidies after the return of the SERS flat. Flat owners will also be deemed to have enjoyed one SERS benefit.

Payment of Resale LevyFlat owners will be required to pay a resale levy based on the flat type of the SERS flat for the purchase of the next subsidised flat from HDB or Executive Condominium from a developer (if eligible).

Rental Flat from HDBFlat owners may apply for a rental flat from HDB (subject to prevailing rental policy) only after 30 months from the return of the SERS flat.

Restriction on Future HDB Housing LoanThe amount of an HDB Housing Loan (subject to eligibility and credit assessment) taken in the future will be reduced by the ex-gratia amount paid in cash.

5. Opt-out of SERS rehousing benefits and return your flat for total compensation

-

The return of the SERS flat for total compensation without ex-gratia payment will not be treated as one housing subsidy enjoyed unless the SERS flat was bought directly from HDB or from the open market with a CPF Housing Grant.


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a. First- and Second-TimersFamilies who are eligible to buy a flat directly from HDB regardless of SERS Please turn to page 19

b. Non-Citizen Spouse Scheme Households Please turn to Page 20

c. Singapore Permanent Resident Households Please turn to page 21

d. Remaining Singles Singles who bought their SERS flat as a family and are currently the sole owner due to the demise of their spouse, parent(s) or children Please turn to Page 22

My Rehousing BenefitsGenerally, the rehousing benefits given are based on the status of the households.

Run through this flow chart to find out what you will enjoy!

Start

Do you currently own a Private Property5?

Yes

Yes

Yes

Yes

Private Property OwnersPlease turn to page 25

Households who Enjoyed SERS Benefits BeforePlease turn to page 24

Third-TimersPlease turn to page 24

Have you enjoyed SERS rehousing benefits before?

Have you bought more than one flat directly from HDB; or enjoyed a CPF Housing Grant and bought at least one flat

directly from HDB?

Did you buy the SERS flat as a family?

No

a. Joint Singles Scheme Households Please turn to Page 22

b. Single Singapore Citizen Scheme Households Please turn to Page 23

No

No

No


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Rehousing Benefits

SERS Grant3

$30,000 grant to buy new flat at subsidised price

Flat Type Up to a new 5-room flat

Waiver of Fees

Waiver of administrative and booking fees for the replacement flat

Waiver of Premium for First Timer SC/ SPR

Waiver of $10,000 premium on top of the purchase price when buying a flat directly from HDB

Deferred Payment to HDB

Deferment of all payment for the new flat until keys collection

Resale Levy/Premium For New Flat (if applicable)

Waiver

The Resale Levy/Premium will be waived if the SERS flat was bought directly from HDB or from the open market with a CPF Housing Grant.

Concessions

The Resale Levy/Premium is payable by flat owners who had previously sold a flat bought directly from HDB or a resale flat bought with a CPF Housing Grant, and had opted to pay deferred Resale Levy/Premium.

The Resale Levy/Premium will be capped at $30,000 and flat owners may:

i. Pay the amount by cash;

ii. Contra the amount from the SERS compensation; or

iii. Incorporate the amount into the selling price of the new flat.

For flat owners who had sold their first subsidised flat between July 1985 and May 1997 and opted to pay resale premium, they may now change the option to resale levy (up to $30,000), if it is more favourable.

Housing Loan Eligibility

If the SERS flat is/was financed by:

HDB Concessionary Loan

The maximum HDB concessionary loan granted for the replacement flat will depend on a Credit Assessment7

HDB Market Rate / Bank Loan

Obtain a bank loan, if required

Relevant Information

1First-Timers may apply for Additional Housing Grant8 (AHG) and Special Housing Grant9 (SHG), if eligible.

2

First- and Second-Timers who have already applied/booked a flat under HDB’s public sales exercise (BTO or Sale of Balance Flats exercise) as at the SERS announcement date may:

i. retain the flat application and transfer the same rehousing benefits; or

ii. retain the flat application as a public applicant and sell the SERS flat with rehousing benefits (only if flat owner is a First-Timer; considered to have enjoyed two housing subsidies); or

iii. retain the flat application as a public applicant and return the SERS flat for ex-gratia payment on top of total compensation (only if flat owner is a First-Timers; required to pay resale levy based on flat type of SERS flat and considered to have enjoyed two housing subsidies); or

iv. cancel the public sales application and take up any option under My Rehousing Options

An option form will be given to indicate the preferred choice.

3Second-Timers who have already applied or booked an EC unit cannot sell the SERS flat in the open market.

First- and Second-TimersFirst-Timers are families who have not bought a flat directly from HDB, including Design, Build & Sell Scheme (DBSS) flat or Executive Condominium (EC) unit, nor enjoyed a CPF Housing Grant before.

Second-Timers are families who have bought one flat directly from HDB, including DBSS flat or EC unit, or enjoyed a CPF Housing Grant.

3 7 8 9 Refer to Page 26 for Further Explanation. SC - Singapore Citizen. SPR - Singapore Permanent Resident.

20

Non-Citizen Spouse Scheme HouseholdsHouseholds with a Singapore citizen (SC) and a spouse who is neither a Singapore citizen nor Singapore permanent resident.

3 7 8 9 Refer to Page 26 for Further Explanation.


Rehousing Benefits

SERS Grant3



Waiver of Fees





Waiver

The Resale Levy/Premium will be waived if the SERS flat was bought from the open market with a CPF Housing Grant.

Concessions





iii. Incorporate the amount into the selling price of the new flat

For flat owners who had sold their first subsidised flat between July 1985 and May 1997 and opted to pay resale premium, they may now change the option to resale levy (up to $30,000), if it is more favourable.








1

If the SC is below the age of 35 as at the SERS announcement, the non-citizen spouse must have a Long Term Visit Pass or Work Pass with a validity of at least 6 months in order for the household to enjoy the $15,000 SERS grant.

2

Flat owners who have not bought a flat directly from HDB, including Design, Build & Sell Scheme (DBSS) flat or Executive Condominium (EC) unit, nor enjoyed a CPF Housing Grant before may apply for Additional Housing Grant8 (AHG) and Special Housing Grant9 (SHG), if eligible.

3

Flat owners who have already applied/booked a flat under HDB’s public sales exercise (BTO) as at the SERS announcement date, may:

i. retain the flat application and transfer the rehousing benefits; or

ii. cancel the public sales application and take up any option under My Rehousing Options


21

Singapore Permanent Resident HouseholdsHouseholds whose owners do not include any Singapore Citizen.


Rehousing Benefits

Subsidised Selling Price

New flat at HDB’s subsidised selling price (no SERS grant)


Waiver of Fees





Concessions

The Resale Levy/Premium is payable by flat owners who had previously sold a flat bought directly from HDB and had opted to pay deferred Resale Levy/Premium.





For flat owners who had sold their first subsidised flat between July 1985 and May 1997 and opted to pay resale premium, they may change the option to resale levy (up to $30,000), if it is more favourable.






If (a) any family member (at least 21 years of age) obtains Singapore citizenship and is included as a joint applicant for the replacement flat before the collection of keys and (b) the household meets all eligibility conditions to buy a flat directly from HDB, the household will receive a SERS grant of $30,000 and the household may qualify for an HDB concessionary loan. The maximum loan granted will depend on a Credit Assessment7.

22

Remaining Singles and Joint Singles Scheme HouseholdsRemaining Singles are Singapore Citizen singles who had a family nucleus when they bought their SERS flat and are now living alone due to the demise of their spouse, parent(s) or child(ren).

Joint Singles Scheme Households are households who bought the SERS flat under the Joint Singles Scheme.



Rehousing Benefits

SERS Grant3


Flat TypeUp to a new 4-room flat or the same flat type as the SERS flat, whichever is bigger

Waiver of Fees

Waiver of administrative and booking fees for replacement flat




Waiver


Concessions














1


2

Flat owners who have already applied/booked a flat under HDB’s public sales exercise (BTO) as at the SERS announcement date, may:

i. retain the flat application and transfer the rehousing benefits; or

ii. cancel the public sales application and take up any option under My Rehousing Options


23

Single Singapore Citizen HouseholdsHouseholds who bought the SERS flat under the Single Singapore Citizen Scheme.


Rehousing Benefits

SERS Grant3


Flat TypeUp to a new 3-room flat or the same flat type as the SERS flat, whichever is bigger

Waiver of Fees





Waiver


Concessions














1

If (a) the flat owner subsequently includes (i) parent(s) and/or child(ren) in the application to form a family nucleus, or (ii) is legally married before the collection of keys and (b) the household meets all eligibility conditions to buy a flat directly from HDB, the rehousing benefits will be revised more favourably such that the household is eligible to buy up to a 5-room flat with a $30,000 SERS grant.

2


3

Flat owners who have already applied/booked a flat under HDB’s public sales exercise (BTO) as at the SERS announcement date, may:i. retain the flat application and transfer the

rehousing benefits; orii. cancel the public sales application and take

up any option under My Rehousing OptionsAn option form will be given to indicate the preferred choice.

4

Flat owners who own a 3-room flat with an internal floor area which is at least 10% bigger than the internal floor area of a 3-room replacement flat at the designated replacement site may buy up to a new 4- room flat at the designated replacement site.

24


Third-Timers and Households who Enjoyed SERS BeforeThird-Timers are households who have bought more than one flat directly from HDB or enjoyed a CPF Housing Grant and bought at least one flat directly from HDB.


Rehousing Benefits



Flat Type

Up to a new 3-room flat (for singles)/ 4-room flat (for remaining singles and joint singles)/ 5-room flat (for families) or the same flat type as the SERS flat, whichever is bigger

Waiver of Fees





Concessions

The Resale Levy/Premium is not applicable to Third-Timers who had already paid a Resale Levy/Premium before.














Flat owners who had previously enjoyed SERS rehousing benefits are not allowed to sell their SERS flat in the open market.

25

Rehousing Benefits



Flat Type

Up to a new 3-room flat (for singles)/ 4-room flat (for remaining singles and joint singles)/ 5-room flat (for families) or the same flat type as the SERS flat, whichever is bigger

Waiver of Fees





Waiver


Concessions









HDB Concessionary / HDB Market Rate / Bank Loan



Flat owners who take up a new flat at the replacement site or a new flat elsewhere under BTO or Sale of Balance Flats exercise must live in the new flat after its completion while retaining the private property5 for investment.


Private Property OwnersHouseholds who own a Private Property5 that was bought before the SERS announcement.

26

1. Stamp and Legal Fees

Stamp and Legal Fees Scale of fees based on market value of your SERS flat

Agreement for Lease (original) on selling price of flat

1% for first $180,000, 2% for next $180,000 and 3% thereafter

Registration Fees $38.30

Legal Fees (excluding GST)

$27 for first $30,000, $21.60 for next $30,000 and 0.06% thereafter

2. Fixtures and Fittings

Fixtures and fittings are items such as windows, doors, gates, grilles, built-in cabinets, built-in wardrobes, air-conditioners, ceiling fans, water heater etc.

3. SERS Grant

The SERS Grant will be paid solely or equally to Singapore Citizen SERS flat owner(s) who buy a replacement flat from HDB. The grant will be credited to the flat owners’ CPF Ordinary Accounts as part of their CPF savings. The SERS grant can only be used to pay for the replacement flat. On selling or transferring the replacement flat, the grant and interest has to be returned to the respective flat owners’ CPF Accounts.

HDB will recover the SERS grant (with interest) from the flat owners if the application for the replacement flat is cancelled.

4. Optional Component Scheme

Table 1: Specifications of the optional components

Optional Component

Specifications*

Sanitary fittings Wash basins, water taps and shower mixer. The water closet (WC) is a standard provision.

Internal doors^

Premium FlatsDecorative solid timber bedroom doors and laminated semi-solid timber bathroom doors.

Standard Flats (Site D)Laminated semi-solid timber doors for both bedrooms and bathrooms.

Floor finishes

Premium FlatsTimber strip flooring with timber skirting in bedrooms and porcelain floor tiles with timber skirting in living room. Kitchen and bathroom ceramic floor and wall tiles are standard provisions.

Standard Flats (Site D)Polished porcelain tiles with timber skirting in bedrooms and living room. Kitchen and bathroom ceramic floor and wall tiles are standard provisions.

Kitchen partition wall

Solid block and precast lightweight concrete partition

* Actual specifications subject to change.^ Bi-fold bathroom door and bedroom sliding door/partition are provided for all 2-room flats. Sliding bathroom door

is provided for common bathroom for 3-room flats at Site E at Strathmore Avenue. The OCS packages for these flat types will be priced accordingly.

Further Explanation

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5. Private Property

Private Property refers to any property (flat, house, building or land) other than the SERS flat (whether residential or otherwise, including but not limited to HUDC flats and Executive Condominiums, properties outside Singapore, properties acquired by gift/inheritance and properties owned/acquired/disposed through nominees).

Flat owners and occupiers of both the SERS flat and replacement flat (including existing private property owners) can only buy or acquire an interest in a private property after the Minimum Occupation Period (MOP) of the replacement flat is met. Otherwise, they may not be able to buy or retain the replacement flat.

6. 10% Priority Allocation

HDB sets aside up to 10% of the flats offered in BTO or Sale of Balance Flats exercises for priority allocation under the Resettlement/ Relocation/SERS/Tenants’ Priority Scheme.

Under this priority scheme, if the number of applications that HDB receives is within 10% of the flat supply, all applicants will be able to book a flat. The order in which applicants are invited to select their flat will be determined in a ballot with the other public applicants. The selling prices of the HDB flats will be the same as that offered to public applicants.

If SERS flat owners are shortlisted to select a flat under a public sales exercise and subsequently decide not to carry on with their public sales application, they will be placed at the back of the selection queue for the flats at the designated replacement site.

7. HDB Credit Assessment

The maximum loan granted will depend on:

• Maximum Repayment Period: The maximum loan repayment period is 65 years less the applicant’s age, or 25 years, whichever is shorter.

• Monthly Instalment: This is capped at 30% of the gross monthly income.

• Prevailing Interest Rate: The concessionary interest rate is pegged at 0.1% above the CPF Ordinary Account interest rate (subject to quarterly review).

• Loan Ceiling: The loan granted for the purchase of a replacement flat is subject to 90% of the flat’s purchase price. SERS flat owners must use all available funds in their CPF Ordinary Accounts (after reserving an amount needed for payment of stamp and legal fees and CPF Home Protection Insurance Premium, if applicable) for the purchase of the replacement flat, before HDB grants the housing loan.

To instil financial prudence, flat owners who are applying for a second/subsequent HDB concessionary loan are required to use all available monies in their CPF Ordinary Accounts (including the full CPF refund) and up to 50% of the balance compensation (subject to maintaining a retention sum of $1,000) to reduce the loan quantum of the replacement flat. They may keep the greater of $35,000 or half of the cash proceeds before the remaining balance compensation is used to reduce the loan quantum. Please refer to Table 2 for numerical examples.

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Further Explanation

Table 2: Illustration of a 3-room SERS flat owner buying a replacement flat

Cash Flow Example 1 Example 2 Example 3

Balance compensation $20,000 $50,000 $80,000

Retention Sum $1,000 $1,000 $1,000

Remaining balance compensation $19,000 $49,000 $79,000

SERS flat owner retains (up to $35,000 or 50% of remaining balance compensation, if applicable)

$19,000 (100% of net

cash proceeds)$35,000

$39,500 (50% of net

cash proceeds)

Amount to reduce 2nd concessionary loan Nil $14,000 $39,500

Eligible flat owners who wish to obtain an HDB concessionary loan to buy a replacement flat will need to obtain an HDB Loan Eligibility (HLE) letter. Upon the serving of compensation notice, HDB will invite eligible flat owners to apply for an HLE letter.

All applicants will not be allowed to obtain another housing loan from HDB within 30 months from the date of loan disbursement.

8. Additional CPF Housing Grant (AHG)

Eligible First-Timer families and Joint Singles Scheme households may apply for the AHG if their average gross monthly household income for the one-year period prior to the time of application for a replacement flat is $5,000 or less. Non-Citizen Spouse Scheme households, Remaining Singles and Single Singapore Citizen households may also apply (if eligible) and the qualifying income is set at $2,500. AHG is not applicable for the purchase of Studio Apartments.

At least one flat applicant must be in continuous employment for one year prior to the time of application for the replacement flat, and still be employed at the time of application. The AHG is in addition to the SERS grant given when buying a subsidised replacement flat. The AHG amount is based on the average gross monthly household income as tabulated in the following table:

Table 3: Additional CPF Housing Grant Amount by Household Income Bracket

First Timers & Joint Single Scheme households

Non-Citizen Spouse Scheme households, Remaining Singles and Single Singapore Citizen

households

Average Gross Monthly Household Income

Grant QuantumAverage Gross Monthly

Household Income# Grant Quantum

$1,500 or less $40,000 $750 or less $20,000

$1,501 to $2,000 $35,000 $751 to $1,000 $17,500

$2,001 to $2,500 $30,000 $1,001 to $1,250 $15,000

$2,501 to $3,000 $25,000 $1,251 to $1,500 $12,500

$3,001 to $3,500 $20,000 $1,501 to $1,750 $10,000

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households




$3,501 to $4,000 $15,000 $1,751 to $2,000 $7,500

$4,001 to $4,500 $10,000 $2,001 to $2,250 $5,000

$4,501 to $5,000 $5,000 $2,251 to $2,500 $2,500

# Based on the (i) recipient’s income; or (ii) half the average monthly household income over the one year prior to the time of application to buy the flat if the household is under Non-Citizen Spouse Scheme or comprises

a first-timer applicant and a second-timer applicant.

9. Special CPF Housing Grant (SHG)

In addition to the AHG, eligible First-Timer families and Joint Singles Scheme households may apply for the SHG if their average gross monthly household income for the one-year period prior to the time of application for a replacement flat is $6,500 or less. Non-Citizen Spouse Scheme households, Remaining Singles and Single Singapore Citizen households may also apply (if eligible) and the qualifying income is set at $3,250. The new flat must be 4-room or smaller (excluding Studio Apartments) and located in a non-mature estate.

At least one flat applicant must be in continuous employment for one year prior to the time of application for the replacement flat, and still be employed at the time of application. The SHG amount is graduated to allow households with lower income to enjoy a higher grant for a new flat in non-mature estates as tabulated in the following table:

Table 4: Special CPF Housing Grant Amount by Household Income Bracket



households




$5,000 or less $20,000 $2,500 or less $10,000

$5,001 to $5,500 $15,000 $2,501 to $2,750 $7,500

$5,501 to $6,000 $10,000 $2,751 to $3,000 $5,000

$6,001 to $6,500 $5,000 $3,001 to $3,250 $2,500

# Based on the (i) recipient’s income; or (ii) half the average monthly household income over the one year prior to the time of application to buy the flat if the household is under Non-Citizen Spouse Scheme or comprises a first-timer applicant and a second-timer applicant.

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Our Contact InformationThank you for taking the time to read My SERS Guide. We hope that we have provided you with insights on the SERS process and a clear picture of what to expect in the years ahead.

Once again, we would like to take this opportunity to reiterate our commitment towards easing your move to your new home. Please do not hesitate to contact us if you have any queries.

SERS Hotline1800 866 3070(Monday to Friday, 8am – 5pm)

SERS [email protected]

SERS Fax6854 3595

SERS Online Portalwww.hdb.gov.sg/esers

Note: The information contained in this brochure is current at the time of printing. It is subject to change as may be required by the relevant authorities and/or at the sole discretion of HDB. All rights reserved. Reproduction of this brochure in whole or part without written permission from HDB is strictly prohibited.

The information is also available in Chinese, Malay and Tamil. However, if there is ambiguity or inconsistency in the interpretation of the information in the other languages, the meaning in the English version shall prevail.

We wish you an enjoyable SERS journey and look forward to the next time we meet you.

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Welcome aboard the journey to your brand new home!The Selective En bloc Redevelopment Scheme (SERS) offers you the unique opportunity to move to a new and modern home with a fresh 99-year lease, while at the same time remain close to your neighbours.

In this journey of a few years till your new home is ready, our SERS team is here to take care of you every step of the way. This SERS guide gets you started on the journey and provides you with the information to make the best choice for you and your loved ones. For your convenience, we have provided the same information on the HDB InfoWEB at www.hdb.gov.sg/esers.

We assure you that our team will spare no efforts in making your journey as smooth as possible. If you need help at any time, please contact our officer or approach us through our contact channels found at Our Contact Information. We look forward to sharing this special journey alongside you.

The SERS team

Our Message

Dawsona New Beginning at

My SERS Guide

全新的生活体验就在杜生!

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