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“For those who are unable to sell their flats, HDB may grant them an extension of time and advise them to be realistic with their asking prices,” said Wong in responding to MP for Pasir-Ris Punggol GRC Zainal Sapari’s question.
“Additionally, HDB has and will continue to exercise flexibility for households of mixed parentage or marriages, or where there are exceptional circumstances.”
However, he noted that most HDB sellers are able to find buyers from eligible ethnic groups considering the large number of buyers on the market every year.
Introduced in 1989 to ensure a balanced mix of ethnic groups within HDB estates, the EIP applies “to the sale and purchase of all HDB flats, and is implemented in a fair and transparent manner”.
Prospective sellers and buyers can check their ethnic eligibility via the HDB InfoWEB.
“The ethnic proportions are updated on the first day of every month, and they apply to all completed resale applications received during that month,” he said.
Meanwhile, tenants who rent HDB flats on the open market are not subject to the EIP since their stays are usually temporary in nature and do not affect ethnic proportions within HDB estates in the longer term, explained Wong.
Instead, flat owners renting out their units to one or more non-citizen tenants are subject to the non-citizen quota, which helps maintain the Singaporean character of the HDB heartlands.
The HDB website showed that the maximum proportion of flats that could be rented out to non-Malaysian, non-citizen subtenants is 11 percent for a block and eight percent for a neighbourhood, reported Channel News Asia.
“Malaysians will not be subject to the non-citizen quota in view of their close cultural and historical similarities with Singaporeans,” it said, noting that the quota does not also apply to the subletting of bedrooms.
As such, owners are required to seek approval from HDB and ensure they meet the quota before renting out their units, added Wong.
“HDB conducts regular inspections of flats to ensure that all flat owners adhere to HDB’s regulations. Unauthorised renting out of HDB flats is a serious infringement of the lease, and HDB will take firm action against any errant flat owners.”
credits to propertyguru
Gem Residences location is extraordinarily unique. The 99 year old leasehold development in district 12 is surrounded by a plethora of amenities and connectivity. Toa Payoh is famous for the number of wet markets, food centres and eating houses. Dwellers of Gem Residences Toa Payoh will be spoilt for choices such as Lorong 4 Toa Payoh Block 93 Market and Food Centre, Lorong 5 Toa Payoh Block 75 Food Centre, Lorong 8 Toa Payoh Block 210 Market And Food Centre, Toa Payoh Vista Market, Kim Keat Palm Market, Food Centre, Toa Payoh West Market, Food Court and Whampoa Makan Place Market.
- Educational Institutes – Gem Residences Toa Payoh Lorong 4 residents has plenty of good schools nearby to choose from. Pei Chun Public School, First Toa Payoh Primary School, Guangyang Primary School, CHIJ Primary School (Toa Payoh), Marymount Convent School, Kuo Chuan Presbyterian, St Gabriel’s Primary School,St Andrew’s Junior School, Catholic High School (Primary), Raffles Institution, First Toa Payoh Secondary School, CHIJ Secondary School (Toa Payoh), Raffles Junior College and St. Andrew’s Junior College. New Condo in Toa Payoh Lorong 4/ Lorong 6 is near to Global Indian International School, SJI International School, Australian International School and Curtin University of Technology are all within close proximity to Gem Residences Condo.
The Gem Residences showflat is beautifully done up and all interested buyers should view it!
The Toh Tuck road condo site was the talk of the town during the launch of government land sales in the second quarter of 2016. Anticipating the uptrend of Singapore’s real estate market, it attracted a whopping 24 land-hungry developers to participate in the bidding with Malaysian developer SP Setia emerging winner. Submitting the highest bid at SGD $265 million, SP Setia International (S) Pte Ltd’s offer translates to a Daintree Residence price of land at $939 per square foot based on the maximum permissible gross floor area (GFA) of 26,210 square meter (282,122 square feet).
Bearing a plot ratio of 1.4, Daintree Residence is expected to feature 327 units luxurious residential units in multiple towers of 5 storeys in height. The development is a short walk away from Beauty World MRT station that serves the Downtown Line 2 and shopping complexes such as Bukit Timah Shopping Centre, Beauty World Center and Beauty World Plaza. The Daintree Residence condo is also near to Bukit Batok Nature Park and Bukit Timah Nature Reserve for residents who enjoy outdoor activities.