BETTING ON THE SERS LOTTERY
The unassuming-looking blocks 562 to 565 at Ang Mo Kio Ave 3 hogged news headlines for weeks when their flats were chosen as the latest Selective En Bloc Redevelopment Scheme (SERS) site.
This is partly due to some residents raising a ruckus because they baulked at having to pay more than their expected compensation to buy a new flat of the same size. Many happily ignored the fact that they would get a brand new 99-year lease instead of their current, fast-ageing 57 years left on their lease.
The ‘protests’ even led to an unprecedented move. HDB is now offering a 50-year lease option for eligible residents aged 45 years and above. This will mean nearly all 540 eligible Ang Mo Kio residents will
