Looks like The Tanamera is lining up to go for a Collective Sale. An owner has set up a website and sent me the link.Worth a look.
https://tnmsignboard466666.wordpress.com/2018/07/08/new-absd-rules-increase-developers-cost-how-does-it-affect-the-residual-land-valuation-used-to-determine-your-rp/
They, and all other prospective en blocs, have along way to go post new ABSD regime...can wait long long..u TCians, Eunosvillians, Normantians, etc are all so lucky..so lucky..
ReplyDeleteDear Blogger,
ReplyDeleteCan share your idea and knowledge about the method commonly used for apportionment pls? Is it 100% strata area 100% share value; 50% strata area 50% share value ;60% strata area 40% share value, which is the fairest method for owners? Thank you.
Anyone had problem getting their retention sum after handing over your Tampines court unit? I had left a few commments in the Tampines court Facebook. Kindly read. All SPs May face similar issu getting back your retention sum. Eldan law said the delay is at Sim lim’ lawyer.
ReplyDeleteThe method of apportionment is just an item to give owners a sense of something that was "negotiated" as part of approving the CSA.
ReplyDeleteIn the end, the STB can accept any apportionment method that is allowed in the Act, regardless if an individual owner feels it is unfair.
Only owners willing to bear the legal costs of going to court after mediation at STB fails would be able to test if the apportionment method is really allowed under the Act.
All the scenarios/combinations you mentioned appear to be valid under the Act, but this is not legal advice.
Bottomline: Each owner has to do their own sums to see if their payout (after all deductions) from the Reserve Price is worth signing the CSA, especially when the payout could be 12/18/24 months later.
Reserve Price increased a 2nd time, just to get to 80% consent, or something else going on that is being withheld from the owners?
ReplyDelete