4/5-Room/Executive > Frequently Asked Questions (FAQ) for SERS >Rehousing Benefits & Compensation

Rehousing Benefits & Compensation

Q1 What are the benefits if my flat is announced for SERS?

You will receive compensation at market value prevailing as at the SERS announcement date for your flat. In addition, you will be given a generous rehousing package, which includes assured allocation of a replacement flat at HDB's subsidised price as at the SERS anouncement date, plus a further 20% price discount (up to $30,000 for families) if you are eligible.


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Q2 Am I eligible for the rehousing benefits under SERS?

All SERS flat owners who are eligible to retain their flats when SERS is announced are eligible for rehousing benefits. For more details, please refer to "Rehousing Benefits for SERS Flat Owners" .


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Q3 I do not wish to take up or cannot afford a replacement flat, what are the options available?

You may wish to consider one of the following options:
a) include your child(ren) who must be at least 21 years old as the co-applicant(s) of the replacement flat to help pay for the replacement flat;
b) buy directly from HDB a 2-room upgraded flat or a 3-room buy-back flat, subject to availability;
c) buy a HDB Studio Apartment if you are at least 55 years old as at the SERS announcement date, subject to availability; or
d) buy a replacement flat elsewhere from HDB under BE/BTO/WIS within the grace period and enjoy portable SERS benefits;
e) sell you flat with the benefits package to eligible buyers. With the sale proceeds, you may buy a resale flat from the open market.


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Q4 I have already selected a flat elsewhere under BE/BTO/WIS before SERS announcement. Can I enjoy SERS benefits, e.g. 20% price discount (up to $30,000), for my selected flat?

Yes, you can. However, there may be some fees you need to incur for the legal documentation.

For more details, please refer to
" Portable SERS Rehousing Benefits" .


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Q5 Where are the 3-room buy-back flats offered under SERS located?

Generally, these flats are located in the same town as the SERS site, subject to availability.


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Q6 What is the basis of valuation in assessing the compensation for my flat?

The assessment of market value will be based on actual market transactions of comparable flats at the time of the SERS announcement. All relevant factors and attributes of the flat will be taken into account to arrive at a fair and reasonable assessed market value.


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Q7 Can I remove the fittings/ fixtures in my flat before surrendering it to the Collector of Land Revenue (CLR)?

You cannot remove them as these fittings/ fixtures, eg air-conditioners, water-heaters, built-in wardrobes, ceiling fans, cooker hob etc, have been taken into account in the assessment of compensation for your flat. If you really would like to remove them, you may make your request to the Collector of Land Revenue (CLR) at Tel No. 6 490 3866. The HDB-appointed private licensed valuer will determine a value for the fitting/ fixtures to be removed and deduct it from your compensation accordingly.


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Q8 When will I receive the compensation for my flat?

The CLR will inform you of the actual compensation the valuation is finalised. The compensation will be paid when you surrender vacant possession of the flat to the CLR. The balance compensation will be given to you after the following liabilities of the SERS flat have been deducted from the compensation:
a) outstanding property tax (if any);
b) outstanding service/conservancy charges (if any);
c) outstanding mortgage loan (if any);
d) refund with interest of CPF monies used (if any) for the SERS flat


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Q9 Can I use the compensation for my flat to pay for the replacement flat allocated under SERS?

Yes. For more details, please refer to "Comprehensive Financial Package For Buying A Replacement Flat" .


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Q10 When will I receive the compensation for my flat?

You will be given up to 4 months after collecting the keys to the replacement flat, to surrender vacant possession of the SERS flat to the CLR. This period is for you to renovate your new replacement flat and for house removal.

If you do not take up a replacement flat and have arranged for your own alternative accommodation, you may surrender the SERS flat (after the actual compensation is known) on your preferred date* or a date determined by the CLR. [ Note : *Please give the CLR a 5-week advance notice to make the necessary preparations.]

 


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