The Hougang Avenue 2 HUDC estate, comprising 336 units of flats, will be converted into a strata-titled property under the Land Titles (Strata) Act as of today.
In a statement, HDB said homeowners in the estate now own their respective units, as well as the common property.
HUDC flats were introduced in the 1970s for middle-income families who could afford larger flats. But HDB stopped building them in 1987 after private property prices declined and demand for HUDC units fell.
The privatisation process was gradually introduced in 1995, and HUDC estates must obtain 75 percent support from the residents before privatisation can begin.
15 out of the 18 HUDC estates have been privatised.
The HUDC estates at Hougang Ave 7 and Potong Pasir have obtained the mandate and are currently undergoing privatisation.
Meanwhile, Braddell View is currently garnering support for privatisation.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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