Several homeowners at the Pine Grove estate located along Ulu Pandan Road are on their third attempt since 2005 to sell their homes through an en bloc sale.
The minimum reserve price for the 660-unit estate is $1.33 billion.
Owners stand to pocket an average of $2 million per unit depending on the payable development charge and size of the unit.
This former HUDC estate has more than 893,000 sq ft of land area.
Farrer Court located along Farrer Road is also a former HUDC estate. It was sold in 2007 for $1.34 billion.
The reserve price of Pine Grove is higher than the expected price tag of $1.2 billion during the initial tender of Laguna Park estate in Marine Parade in September.
The Laguna Park collective sale was cancelled last week, even after the price was cut to $967 million.
At Pine Grove, there have already been three sessions to collect signatures for the potential collective sale since 15 November 2009.
An upcoming fourth session is scheduled next Thursday. Representatives from law firm Lee & Lee and property consultancy firm Jones Lang Lasalle will be there to answer the concerns of homeowners.