More than 500 HDB flats in the four-block Rochor Centre will be demolished to make way for a 5.6 km, three-lane dual carriageway tunnel that will complete the southern stretch of the North-South Expressway (NSE).
According to the Land Transport Authority (LTA), the fully underground tunnel will pass through areas such as Rochor, Ophir Road, Novena and Kampong Java before joining the East Coast Parkway (ECP). To be completed in 2020, the total cost of the NSE is estimated at between S$7 billion and S$8 billion.
About 69 percent of the affected flats (around 389 flats) are three-room units measuring 67 sq m each, while 16 percent (91 flats) are four-room units measuring 92 sq m each. There are also 82 three-room units measuring 82 sq m each.
Affected residents will be compensated based on prevailing market value.
Meanwhile, 21 other private properties will be partially affected, such as 368 Thomson and Novena Ville. They correspond to a lot number from which 239.1 sq m and 29.9 sq m of land have been gazetted for acquisition respectively.
“For Novena Ville, (this might) bring the road nearer to the shopfront. It might create even better exposure to the shopfront, but for al fresco food and beverage outlets, there might be more noise implications,” said Donald Han, Managing Director at Cushman & Wakefield.
“The immediate impact (on property prices) is probably minimal for the time being. Nearer to completion, there could be a five to ten percent increase in values. It will not be as distinct as the kind of pricing for the opening of the North East MRT line or the Circle Line. Because MRT stations tend to be a bit more specific when providing access and convenience to residents,” he noted.
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