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30-04-2016, 08:40 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
http://www.channelnewsasia.com/image/2744230/1461943249000/large16x9/768/432/sin-aik.jpg
SINGAPORE: The Singapore Land Authority (SLA) is initiating proceedings to take possession of a walk-up building which needs to be demolished so that one of the stations on the Thomson-East Coast Line can be built.
The property in question is a nine-unit walk-up building along Tanjong Katong Road, the SLA said in a press release on Saturday (Apr 30). Two owners of five of the units - Mr Sim Chiang Lee and his family and company, who own four units, and Mr Cheng Quek Hin, who owns one - have refused to hand them over unless the SLA agrees to more compensation, it added.
The owners were compensated between S$1.44 million and S$1.62 million for each unit, which equates to S$1,009-S$1,082 per square foot, SLA said. These amounts were "market value", as determined by independent private valuers.
SLA also said that it has offered various assistance measures to help the owners relocate. These include paying them 80 per cent of the statutory compensation in advance, waiving housing loan restrictions, and priority balloting for an HDB flat if they are eligible.
The owners were given 18 months and an extension of two further months, up to Apr 29, to hand over the acquired properties, so that construction work on the Amber Station can start. However, the owners want more compensation.
Channel NewsAsia visited the building on Tuesday afternoon and spoke to Mr Sim, whose four units include an attached shophouse unit, Sin Aik Provision Store. The shop was fully stocked and bustling with shoppers living in the area, with no indication that it would be shut down or relocate by the Apr 29 deadline. When approached, Mr Sim said the amount offered by the Government is too low.
Speaking in Mandarin, he said: "You have to consider the market price here. It's about S$1,700 and S$1,800 per square foot but how much are they paying? If you consider Joo Chiat, the old houses there are very cheap. If you consider Yio Chu Kang, there it's even cheaper. They should charge the rate here."
The other owner, Mr Cheng, said he has been living in the Tanjong Katong area for about 50 years. He retired about 20 years ago, has been living in his unit since 1970 and said he has nowhere else to go.
He said: "This property is sitting on a lease of 9,999 years. Almost freehold, not even 999 years. It's been good staying here. This area, if they pay us S$3 million, I can look for property in the area. I cannot afford to buy a landed property in this location. They are worth about S$4 million or more.”
SLA said it has explained to the owners that the handover process is separate from the compensation appeal. If they want more compensation, they can appeal and that process will not be affected in any way by their handing over of the units.
To avoid further delay to the construction of the Amber Station, SLA said it would take over legal ownership on Apr 29 after paying the compensation amount.
If the owners do not vacate the units, SLA will initiate proceedings under the State Lands Encroachments Act to enforce possession, it said. A notice will be given to the owners on May 3 and they will have another 28 days till May 31 to vacate the units. If they still refuse to move, SLA will apply for a court order to take over the units.
http://www.channelnewsasia.com/news/....html?cid=fbsg (http://www.channelnewsasia.com/news/singapore/sla-moves-to-take/2744210.html?cid=fbsg)
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?228916-Greedy-Sinkies-Want-More-Money-Despite-Land-Acquisition-Act-Paying-Them-Market-Value!&goto=newpost).
http://www.channelnewsasia.com/image/2744230/1461943249000/large16x9/768/432/sin-aik.jpg
SINGAPORE: The Singapore Land Authority (SLA) is initiating proceedings to take possession of a walk-up building which needs to be demolished so that one of the stations on the Thomson-East Coast Line can be built.
The property in question is a nine-unit walk-up building along Tanjong Katong Road, the SLA said in a press release on Saturday (Apr 30). Two owners of five of the units - Mr Sim Chiang Lee and his family and company, who own four units, and Mr Cheng Quek Hin, who owns one - have refused to hand them over unless the SLA agrees to more compensation, it added.
The owners were compensated between S$1.44 million and S$1.62 million for each unit, which equates to S$1,009-S$1,082 per square foot, SLA said. These amounts were "market value", as determined by independent private valuers.
SLA also said that it has offered various assistance measures to help the owners relocate. These include paying them 80 per cent of the statutory compensation in advance, waiving housing loan restrictions, and priority balloting for an HDB flat if they are eligible.
The owners were given 18 months and an extension of two further months, up to Apr 29, to hand over the acquired properties, so that construction work on the Amber Station can start. However, the owners want more compensation.
Channel NewsAsia visited the building on Tuesday afternoon and spoke to Mr Sim, whose four units include an attached shophouse unit, Sin Aik Provision Store. The shop was fully stocked and bustling with shoppers living in the area, with no indication that it would be shut down or relocate by the Apr 29 deadline. When approached, Mr Sim said the amount offered by the Government is too low.
Speaking in Mandarin, he said: "You have to consider the market price here. It's about S$1,700 and S$1,800 per square foot but how much are they paying? If you consider Joo Chiat, the old houses there are very cheap. If you consider Yio Chu Kang, there it's even cheaper. They should charge the rate here."
The other owner, Mr Cheng, said he has been living in the Tanjong Katong area for about 50 years. He retired about 20 years ago, has been living in his unit since 1970 and said he has nowhere else to go.
He said: "This property is sitting on a lease of 9,999 years. Almost freehold, not even 999 years. It's been good staying here. This area, if they pay us S$3 million, I can look for property in the area. I cannot afford to buy a landed property in this location. They are worth about S$4 million or more.”
SLA said it has explained to the owners that the handover process is separate from the compensation appeal. If they want more compensation, they can appeal and that process will not be affected in any way by their handing over of the units.
To avoid further delay to the construction of the Amber Station, SLA said it would take over legal ownership on Apr 29 after paying the compensation amount.
If the owners do not vacate the units, SLA will initiate proceedings under the State Lands Encroachments Act to enforce possession, it said. A notice will be given to the owners on May 3 and they will have another 28 days till May 31 to vacate the units. If they still refuse to move, SLA will apply for a court order to take over the units.
http://www.channelnewsasia.com/news/....html?cid=fbsg (http://www.channelnewsasia.com/news/singapore/sla-moves-to-take/2744210.html?cid=fbsg)
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?228916-Greedy-Sinkies-Want-More-Money-Despite-Land-Acquisition-Act-Paying-Them-Market-Value!&goto=newpost).