HOCK KEE HOUSE
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When there are precedents occuring, it will be easier for the valuation to be made.
The unfortunate part is whether the Govnment a.k.a the Ruling Party will be honorable, or act like gangsters and thieves, by making a land grab and offering 'salted peanuts' in return - (to add further insult to injury).
Past contradictions between Government Ministries and Agencies have occurred before, as when the Property Tax Division will value a property much higher to gain tax revenues, while the National Development Board will have its own set of valuation for the same property that can be below the value estimated by the Tax Division - as this time compensation has to be paid by the Government.
With the Hock Kee House having a lease of 999 years, the Strata Titled Property Owners will be in a stronger position to seek a more just compensation.
Unfortunately, will the Courts be fair ? -
There are two types of residents in Hock Kee House. Owners and tenants who lease the property from the owners.
Compensation is for owners and not for tenants.
Now we see the picture, and why so many residents there are so fed up! The tenancy agreement depending on it is phrase should contain a clause for "en-bloc redevelopment", if it is a standard Institute of Estate Agent Tenancy Agreement.
And usually, during such a case happening, the owner has the right to ask the tenant to leave the premise by giving Three Month's Notice and thereafter neither party shall have any more claims against the other.
Arrrhhhh... now we see the problem. The Landlords are getting compensated, but not the tenants!! But that clause has a flaw, it is still a clause for EN BLOC REDEVELOPMENT and not for eviction due to structural unsoundness. So the landlords are basically well covered.
The onus now is on the landlords to provide some form of private compensation to the tenants. -
Reading all your contributions on Hock Kee House point to an interesting but probable outcome based on a theory I am about to tell you.
The theory is 'Rejuvenation with profiteering' - systematic 'collection' of high-yield land parcels demarcated by new and future MRT routes for strata profiteering.
1. Take out a 1:1000 map showing all new MRT lines
2. Outline the land areas around the new MRT lines
3. Tabulate areas of interest (buildings, housing, parks, etc)
4. How many of those tabulated in no. 3 could be targetted by the LTA to support the 'Rejuvenation' theory above.
Could someone pls post findings. -
Changi Airport?Originally posted by Eye in the Sky:Reading all your contributions on Hock Kee House point to an interesting but probable outcome based on a theory I am about to tell you.
The theory is 'Rejuvenation with profiteering' - systematic 'collection' of high-yield land parcels demarcated by new and future MRT routes for strata profiteering.
1. Take out a 1:1000 map showing all new MRT lines
2. Outline the land areas around the new MRT lines
3. Tabulate areas of interest (buildings, housing, parks, etc)
4. How many of those tabulated in no. 3 could be targetted by the LTA to support the 'Rejuvenation' theory above.
Could someone pls post findings.
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I forsee that trouble may brew as of the compensation of the converted shops behind
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The theory points to the likely outcome of the government/LTA owning most or all land parcels within 100m - 500m of new MRT lines. Profits from re-selling the strata back to "innocent" strata investors or eventual owners will help to rejuvent "reserves" coffers. Just a theory. What would happen if a eco-system of Rejuvenation "exists" that the normal folks are not aware of. At least now we are beginning to see a probable glimpse of its existence.
Rejuvenation works for a country with limited land area, however the unfortunate case is who will be penalised for being part of this "R" equation. Looks like those affected are in the group of public project "squatters" or "those in the way".
Ever read or seen "Hitch Hikers' Guide to the Galaxy"? -
1 example land accquired and end up not redeveloped...
Senett Est... From 2001 till now, not redeveloped yet -
Sennet Est is in the way of or near which of MRT line? Year of completion of that line?
Watch what happens within a few years after that line opens. -
It was accquired in 1996 due to NEL...Originally posted by Eye in the Sky:Sennet Est is in the way of or near which of MRT line? Year of completion of that line?
Watch what happens within a few years after that line opens.
But because of poor property, tua tua tua... -
Heard from insider news..
The reason why they wanna demolish the bldg is only because actually the structure is already not safe... They just say nice nice nia -
LTA should have known earlier that the CCL tunnelling works could threaten the buildings near the worksites. Their incompetence caused the four deaths at last year's Nicoll Hwy collapse.Originally posted by sbst275:Heard from insider news..
The reason why they wanna demolish the bldg is only because actually the structure is already not safe... They just say nice nice nia
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You see later, those Upp Paya Lebar shophouse kenaOriginally posted by iveco:LTA should have known earlier that the CCL tunnelling works could threaten the buildings near the worksites. Their incompetence caused the four deaths at last year's Nicoll Hwy collapse.
1 friend that knows abt this told me that by right Paya Lebar area is not going to have smooth sailing MRT project -
Will the stations be safe to use when completed? Also, what did the relevant authorities do @ S'goon NEL stn?Originally posted by sbst275:1 friend that knows abt this told me that by right Paya Lebar area is not going to have smooth sailing MRT project -
Difficult to say for now...Originally posted by iveco:Will the stations be safe to use when completed? Also, what did the relevant authorities do @ S'goon NEL stn?
But Serangoon one, can't be bothered... Govt nowadays heck care