Nine HDB blocks at Marsiling Crescent and Marsiling Lane will be in redevelopment and expansion of the Woodlands Checkpoint
Nine HDB blocks situated on Marsiling Crescent and Marsiling Lane will be purchased through the Selective En bloc Redevelopment Scheme (SERS) as part of the redevelopment as well as development of Woodlands Checkpoint. The redevelopment, announced in the year 2017, will result in an expansion of the checkpoint that was built in The Old Woodlands Town Centre (OWTC).
In a joint press release issued by the Immigration and Checkpoints Authority (ICA) as well as the Housing Development Board (HDB) and the Singapore Land Authority (SLA) on May 26, the authorities claim that this expansion is expected to safeguard the Woodlands Checkpoint against increased traffic amount, which is predicted to increase daily average of about 400,000 in 2050. “If the capacity of clearance for all vehicles is not expanded, the duration of travel for vehicles could be increased by more than 60 to 70% in peak times until 2050.” according to the news release. states.
The blocks to be purchased under SERS are situated between 210 and 218 Marsiling Crescent/Lane. The units affected include 732 flats sold and 53 rental flats. They also include one rental kiosk with six rental shops as well as one restaurant for rental.
The acquisition, expansion and redevelopment of Woodlands Checkpoint will be carried out in stages. Within the process of redevelopment process, Bukit Timah Expressway would be extended, and upgraded to direct traffic directly to as well as from OWTC extension.
Flat owners who have sold their flats will receive rehousing benefits under SERS, including compensation according to the value of their property at the time of the purchase, and the option of purchasing an additional flat and the option of a new 99-year lease at a reduced cost. To assist in reducing the cost associated with the relocation, HDB will also provide homeowners with an allowance for removal along with stamp and legal costs to purchase the same flat.
The replacement flats will be constructed by HDB in Woodlands Street 13 in the site which is 10 minutes walk from Marsiling MRT Station on the North-South Line. With a total of 1100 units, construction is anticipated to start in the 3rd quarter of 2023 and will be completed by the end of 4Q2027.
Flat owners who are eligible can receive the SERS grant that can be up to $30,000 or obtain a mortgage from HDB to finance the purchase of their new apartment. They can also pick replacement flats in conjunction with their neighbors or family members to be close to one another.
The deal offers an opportunity for affected flat owners to find the new residence and sign new leases of 99 years according to Lee Sze Teck, senior director (research) at Huttons Asia.
In pointing out that the flats on Marsiling Crescent/Lane was completed between the year 1980-82, which could mean that the block is approximately forty years old. “The place of the new flats is much closer to an MRT station, which improves access for those living there,” the developer adds.
Lee estimates that the prices for replacement flats could begin from one hundred thousand dollars for three-room apartments. The price could rise starting at 260,000 for four-room apartments and $355,000 to buy five room flats. There was a time when Marsiling Grove was located near those affected buildings, was launched in May 2017, with prices starting of $73,000 for two-room flexible flats, starting at $150,000 for flats with three rooms. starting at the $236,000 mark for flats with four rooms. starting at $112,000 for flats with five rooms, and up to $320,000 for flats that are 3Gen.
Christine Sun, senior vice head of research and analysis for OrangeTee & Tie, believes that the majority of flat owners will accept the opportunity to rehouse their homes and enjoy the advantages. She explains that the units on the new site located at Woodlands Street 13 will likely have higher resales prices in the future as compared to the existing site. “If we analyze the resales price of flats located in Marsiling Crescent, which is the currently the site of the blocks affected The median resale cost for the beginning of the year for four-room flats was $378,000, while three-room flats cost $355,000” She explains. As a contrast, the new site is likely to see resales prices that are more in line with the median price in Woodlands that are higher at $448,000 , for flats with four rooms and $340,000 on three-room apartments Sun adds.
In addition, qualified rental flat tenants who are affected through the purchase will be granted rehousing advantages, and those who qualify for tenants of kiosks, rental shops and eating house will also be provided with clearance benefits, which HDB states are similar to previous clearing and rehousing exercises.