Just when I want to sit back and relax - out comes a piece in the Business Times about LTSA roadblocks and Tampines Court.
According to the report. Sim Lian submitted it's OPP Application in Dec, it should have the approval any day now.
LTA wants them to build a slip road at the market side to ease the congestion caused by a 2000 unit estate. Understandable and this will surely enhance the marketability of the new development; super easy access to the PIE & TPE. What the developer loses on the swings he gains on the roundabouts. Perhaps there can be a co-sharing with LTA on the cost, after all, this will be a public road. Interesting development.
https://www.srx.com.sg/singapore-property-news/45782/en-bloc-projects-running-into-technical-road-blocks
https://www.srx.com.sg/singapore-property-news/45782/en-bloc-projects-running-into-technical-road-blocks
What?? Now can have direct access now to PIE? Why didn’t we build it ourselves...
ReplyDeleteIt says that SL was actively engaging govt agencies for months to clear this issue. That’s a good sign.
ReplyDeleteThks for updating.
ReplyDeleteAlready said SL is sincere about the deal and delays are caused by approvals from authorities. Already inform u guys dont need kancheong spiders...go look at new house if u have not done so...I think it would be helpful if we lower the noise level and let them do the needful.
ReplyDeleteWith all due respect, your pronouncements and advice, even if you're Chairman of the CSC, means nothing if it's not done officially. Really, to receive updates of my Tampines Court from the newspapers, along with everyone else is unacceptable. SPs ought to officially hear it first from our CSC.
DeleteI hope they are also sincere in payment for this link. Construction of this link is part and parcel of the future development of this site. The present owners do not benefit from it. If the buyer wants to recover cost, the buyers of the redevelopment should pay for it as they will benefit from this link. Moreover with the link, the value of our land will go up and that is why the LUP value is busted. The buyer should gladly pay for all these additional costs.
Deletei almost think that SL decided to let SPs know directly via the press rather than tell the CSC.
ReplyDeleteWhat was on Business Times today says more than the CSC has updated SPs for the past 12 mths.
I don't know guys. Contractually speaking, our sale to SL is dead. It died the moment the LUP amount exceeded.
ReplyDeleteThe letter from legal (the latest circular we all got) says SL reserves the right to withdraw. To me, this indicates some negotiations are going on in the background to revive TC's sale.
Contractually, if SL does nothing by the 27th April, this sale is over.
So the ball is actually not in SL court. Our CSC needs to get them to recommit into buying tampines court. Not sit and wait for SL to come to a decision.
if you're legal trained, you'll know that "reserving rights" is the most basic of positions you keep emphasizing to the other party. If your worry is just because of that sentence, it is not worth losing sleep over.
DeleteYou wont give up planting negative thoughts on SPs, would you? If SL want to withdraw, they would have done it the moment they received LUP. Why want to waste time waiting for LTA approval? Moreover it will be bad for their reputation if they back out because of a few millions. Anyway the slip road to PIE will enhance the sales if the condo they are building as it enhance connectivity. Their units will sell like hot cakes!
DeleteIf the sales is over by 27th April, we just go straight to round 4 & get better price. No issue at all ! So stop worrying too much & start looking for replacement home.
If SL is not keen, they won’t have disclosed anything to the press. There is no need for SL to say so much. They would rather keep the lowest profile and let the issue die out. Because it will be top headlines if they pull out.
DeleteFunny leh. There are people who worry that SL won't withdraw as they are clause to protect them and there are people who are worry SL will withdraw because of LUP exceeded. You guys need to go for a cruise or something to relax your mind. Don't worry yourself sick for nothing.
DeleteIf SL recommitting requires this bunch to masterly renegotiate and explain again all circumstances of the agreement. I'm out. Did not sign to be repeatedly subject to pain and unusual punishment.
DeleteRegardless of traffic requirements, SL sitting on a Goldmine.
NO further concessions from owners necessary!
The SPA is not dead but the LUP is the escape clause for SL. The buyer has up to 27 April to accept or decline the purchase. The only snag here is that if the buyer does not rescind the contract,the SPA is still in force. Like our blogger said, the never ending contract. If what she meant is true,we can't sell off our property but SL can buy other properties. It's one sided and only a court case can nullify the contract.
Delete6.4: You are right - everyone is worried regardless. and everyone will find a reason to worry.
DeleteI don't think it is that difficult to understand, because as long as i don't have my money, i am also at least a bit worried. because i have already signed the csa and i am stuck now. even if i want to sell my unit at $1.5m now, i can't correct? worse for those who already paid SSD.
Also, our interest rate are all starting to go up now, i got my love letter from DBS a few days ago.
hence, govt should really speed up the whole process, keeping in mind that 560 families are in pain and waiting.
Anon 6.7: Questions aplenty but CSC or Eldan refuse to acknowledge the mess they've put us in. I did not sign but after Sale Order, can I remortgage my apt if I'm in need of emergency cash for eg SSD. What is the value of our homes if it's put up for resale, if at all that's possible. Considering we have a Collective SPA from Hell, like a millstone round our necks, it can only adversely affect our resale price.
DeleteThis prolong uncertainty between Sale Order and Completion is causing many problems for SPs. Being abandoned by Sales when we really need answers now is a big let down.
Your property is worthless lah without this en bloc! So dont do anything to jeopardise this en bloc
DeleteYou can't sell your apt as I believe SL would have lodged caveats to SLA on all our homes by now. Check MyProperty website (https://www.sla.gov.sg/MyProperty/#/home) and log in with your Singpass to view your property details.
DeleteIt is a service provided by SLA for property owners to view the titles information of their property free of charge. It provides information on the property such as tenure, area, property address, ownership, encumbrances such as caveats and mortgages.
I checked today and was mightily peeved to see the Lawyer put an 'interest/encumbrance' on my property on 28/09/2017 To date, I have not received a letter from the SLA informing me of this 'interest/encumnrance' in my property.
It wasn't SL but the CSC ..it's a 'Application to Notify Collective Sale Application' I don't know if this blocked my unit at the time - but as minority owner, Sl does not have a caveatable interest in my unit until after the sales order. No Caveat from SLA for me to date.
May be SLA knows SL does not has the right to lodge this.Therefore,SLA does not send you a notice.SLA is afraid you will lodge a complaint.
DeleteSL is in negotiations with LTA because it wanted the govt to bear part of the cost as the slip road will also benefit other residents in this vicinity. We the SPs should not pay anything as the link will not benefit us as we will have moved out by then. The link enhances the value of our land (from $676 to $840 as mentioned by someone) and the buyer have to pay for it as he is the one who will benefit from this link.
ReplyDelete840? how to get this wanderful figure?
DeleteIf by default that things do not work well for TC currently, it time to say SL = "So Long"salutation or Bye Bye to T C enbloc 3.
ReplyDeleteLooking at the map of the proposed new road, it is worrying as vehicles may wanna cross from st.11 into TC for faster exit to TPE....added traffic congestion and what goldmine are they talking? Am just wondering!!!
ReplyDeleteIf I say I want to move back because of this new add-on traffic premium, of course if we are given special discount as previous SP, is it too early and too optimistic now? Anyway, this is truly a very good news.
ReplyDeleteUnderstand from MA that SL is in advanced stage in its application to/negotiations with LTA on the traffic impact assessment. Understand the anxiety faced by all SPs. Lets continue to stay united to see this en bloc through 👍. MA are actively engaging with SL and relevant authorities to resolve all outstanding issues. MA is open to an Owners Meeting if need be.
ReplyDeleteWait.Ytd BT reports SL applied PP in Dec.Now MA claims TIA in advanced stage.
Delete2.Does it mean PAFS has been approved?Is so,when?
Is this meeting sanctioned by Chairman?
DeleteWill CSC and Eldan be represented?
How and to who can owners indicate their interests to this meeting?
Who is taking the lead on SPs side in organizing this meeting?
Where does MA intend to hold this 'Owners Meeting'?
Who are you Anonymous 11?
Is this FAKE?
Any 'good news' are fake unless proven official at FB. Thetefore dont lose sleep or too happy about the news. I only believe what is positive news until I see the money in my account.
Deletesuggest everyone chill and wait for official announcements. no point suggesting conspiracy theories as they are totally not helpful at all. certainly there will be news between now and april. those who have bought their new houses, u buy with your eyes and ears wide open, why blame the delay on the sales com when no one is certain whether end of the day, the deal will work out or not. if u want to blame delays, blame the 3 objectors for delaying 2 months for nothing...it seems SL waited for sales order before continuing some of the applications...so the objectors have wasted 2 months of our precious time! other delays are all legit...application and approval delays,..technical plans submitted, rejected, resubmit..its simply part of the process..imagine SL boss reading all these and sensing all the desperation!..all these desperation are artifically created,...objectors delaying for NOTHING,..putting down 1% when in fact deal is not finalised and so on. if 3 fails, we just simply go for 4. thats the reason why facebook is quiet...why kick up all the dust? for what? u create your own dust in the first place...only the minority are desperate,..the majority knows if this fails, there are better things down the road. DONT WORRY. end of the day, my reading is the deal will definitely go thro,..it will take a while longer thats all.
ReplyDeleteI agree we should not show our desperation too much. Public can get access to this blog. We need not beg SL to buy TC. I am sure we will get better price on round 4. Steady lah people! No amount of noise can hasten govt process. Just stay cool.
Delete12.objection and DEVELOPMENT applications(LTA,URA ,agencies)are two unrelated process.IT is up to SL to apply.
Delete
DeletePlease, no conspiracy. All wounds self inflicted. We had our eyes and ears wide open at Huttons brief. unmistakably told: 3 mths after Sale Order money in. After CSC confirmed that Buyer concurrently applying approval, just bolsters our confidence. Everything's Hunky-dory. We trusted you. Not so nice to back-pedal, even worse, absolutely wrong to pin all blame on us innocent, trustful owners for our pain and loss. Fingering Objectors is soooo passe'. In fact they've been vindicated. This Enbloc is shambolic. (deleted). We're neither desperate nor surprised. Maybe the Majority with their rickety homes or yearning for more moolah feel most betrayed and angry. All we want from fb is straight answers to clear the dust kicked up by Sales. (deleted) You're no doubt good at reading tea leaves to forecast the future.
(edited by itshometome)
I guess SL back to the drawing board to tweak the laid out of their plan before LTA ink the approval. Building condo is not a easy thing especially 2000 units, a lot underground pipe line need planning too.
ReplyDeleteI spoke with our lawyer, deal is still on as "the SPA is Not Dead".
ReplyDeleteGood idea SL and LTA has came out of alternative road if not 2000 units would have not approved.So have to waited out for the final green light. Good luck !
ReplyDeleteTalk is cheap.pls ask them to announce officially.
ReplyDeleteWonders 2000 units the biggest condo by far?
ReplyDeleteThe whole episode is NATO=No Action Talk Only. Silence is Golden and Patience is the KEY to Success....so wait patiently and hope for the BEST.
ReplyDeleteHope govt agencies can hurry this process up either way, 560 families....can MP pls help?
ReplyDeleteThere is a CNY gathering with your MP at TC. Go speak with him.
DeleteMore roads, more noise, more pollution. I don't get how this will enhance the value of a piece of land especially in Singapore where everything is just a short drive away.
ReplyDeleteYou must be a spoiler implanted. Why do Eunosville get $2.3 million and we can only demand $1.7 million? It's only a short drive from TC to Eunosville as you said.
ReplyDeleteIsn't it convenient to label anyone who doesn't sing to the same tune as an implant :). Whatever floats your boat.
DeleteHi blogger, I suspect alot of outsiders are coming to this blog & creating disturbance. Could be ex TC owners who sold their units too early. Maybe should close the blog & just wait. We really can't do much at this stage.
ReplyDeleteAgreed but don't stop this blog. It is already demoralizing looking at the FB with its almost stagnant news. The team has succeeded in silencing the SPs with its more supreme silence. For this blog, it is difficult to weed out the implants. So please go slow and release more official news as most SPs are in the dark.
DeleteLocation location location is the key word preached by most investment gurus. So investors will look to convenience to amenities such as MRT at a stone's throw or doorstep, developed estate etc. So comparing apple to apple with TC, Eunos Ville is a better choice.
ReplyDeleteof course got a lot of people who would like to disturb the sale
ReplyDelete1. ex tc sourgrapes who sold too early and now hoping to see the enbloc fail. we have one of them who is v active in the postings..
2. the 3 objectors..how can we forget about them..and
3. SL competitors who want to 'sabo' their potential windfall
If i were SL, i would come out with a statement to say SL is committed to the sale and is working with the relevant authorities to get the necessary approvals done. It will allay a lot of fears and any plans (from whichever quarters) to make the contract null and void. Though the deer is cornered, better take the shot early,..u never know... the animal may start to grow wings!