Selective En-bloc Redevelopment Scheme (SERS)

SERS is one of the government's exciting renewal plans for the old public housing estates.

To date, 37 sites involving some 14700 units of sold flats have been announced for SERS. The latest announcement was for 11 blocks of sold flats in Bedok North Road, Buangkok South Farmway / Punggol Road and Sembawang Road. And the most recent group of residents who benefited under SERS celebrated in April their successful move to the new flats next to their old blocks in Chai Chee Road.

Under the scheme, flat owners are compensated for their existing flat at prevailing market value as at the date of announcement of SERS. In addition, they are given a generous package of rehousing benefits comprising

• Assured allocation of new flats at the designated replacement site
• Purchase of replacement flats at subsidised prices frozen at the date of the announcement of SERS.
• 20% price discount (up to a maximum of $30,000) for eligible flat owners · Option to sell the rehousing benefits to eligible buyers · Exemption from the payment of resale levy for the existing subsidised flats.
• Exemption from credit assessment for eligible lessees.
• A comprehensive financial package to ease cash flow in the purchase of the replacement flats.

With these benefits, residents of old 3-room flats designated for SERS will generally be able to upgrade to brand new 4-room flats and in the process, either enjoy a small capital gain or make a small payment.

Not only can residents look forward to a fresh 99-year lease for their new flats, their new homes would also boast the latest designs and modern facilities like lift services on every floor, matching wall tiles in the kitchen and toilets, as well as concealed piping and wiring.