Chuan Park for $938m?

gonewiththesmart

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the 2.4 plot ratio is need to apply from govt one leh, and need to pay one leh, also subject to govt review etc
the enbloc price is based on the current plot ratio
The URA 2017 letter says 2.4 PR.. How. Of course need pay DC if required. But lack of full disclosure will kill the deal
 

Lucil_

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The URA 2017 letter says 2.4 PR.. How. Of course need pay DC if required. But lack of full disclosure will kill the deal
get your material facts correct first
never even apply how to get 2.4 PR , if apply of course need to pay and subject to approval
simi lack of full disclosure
7 jokers soon to be revealed in court. :ROFLMAO:
 

Kitaro9202

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This chuan park has a few time enblock but fail tbh the size area is very big le
 

gonewiththesmart

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get your material facts correct first
never even apply how to get 2.4 PR , if apply of course need to pay and subject to approval
simi lack of full disclosure
7 jokers soon to be revealed in court. :ROFLMAO:
Bro do not sink me too fast.

Read again, I add words in bracket [ ] in case you do not know technical details.
I think it mean
Quote
[ current]
Chuan Park owners were advised that the site’s land ratio was 2.1 as stated in the 2019 URA Master Plan.

However, a 2017 letter from a previous
en block trial stated a development fee (DC) for development above a GFA of 89,824 sq m (about 966,857.4 sq ft),[ would be required, if future developments GPR above 2.4]. which would equate to a GPR of about 2.4.

The difference between a ratio of 2.1 and 2.4 is approximately 11,671 m². (about 125,625 square feet) that developers can sell.
.
The argument is that that amount would have been factored into buyers’ decision-making whether or not to accept the $890 million offer.

Unquote.

Who and why fake this GPR 2.4? U ask Stacked home which publish this article.

125,625 square feet x $900 ppr is 100 million. Not much?
 

wacko

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Bro do not sink me too fast.

Read again, I add words in bracket [ ] in case you do not know technical details.
I think it mean
Quote
[ current]
Chuan Park owners were advised that the site’s land ratio was 2.1 as stated in the 2019 URA Master Plan.

However, a 2017 letter from a previous
en block trial stated a development fee (DC) for development above a GFA of 89,824 sq m (about 966,857.4 sq ft),[ would be required, if future developments GPR above 2.4]. which would equate to a GPR of about 2.4.

The difference between a ratio of 2.1 and 2.4 is approximately 11,671 m². (about 125,625 square feet) that developers can sell.
.
The argument is that that amount would have been factored into buyers’ decision-making whether or not to accept the $890 million offer.

Unquote.

Who and why fake this GPR 2.4? U ask Stacked home which publish this article.

125,625 square feet x $900 ppr is 100 million. Not much?
the lack of full transparency is ethically problematic. but it is inconsequential to the bid, because I would expect the developer to have considered this, and have already factored it in for the bid.
 

camrysfe

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Strata Titles Board stops Chuan Park’s S$890m en bloc sale​

Owners will now head to court to settle the outcome of the collective sale



FRI, DEC 09, 2022 - 05:19 PM


THE collective sale of Chuan Park has been met with a stop order by the Strata Titles Board (STB) on Friday (Dec 9), after a group of six minority owners did not withdraw their objections to the transaction.

The stop order came after three rounds of mediation. The collective sale committee (CSC) representing...
 

edwinnn

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Strata Titles Board stops Chuan Park’s S$890m en bloc sale​

Owners will now head to court to settle the outcome of the collective sale



FRI, DEC 09, 2022 - 05:19 PM


THE collective sale of Chuan Park has been met with a stop order by the Strata Titles Board (STB) on Friday (Dec 9), after a group of six minority owners did not withdraw their objections to the transaction.

The stop order came after three rounds of mediation. The collective sale committee (CSC) representing...
Yes as mentioned thanks to te clowns but there is nothing to worry
 

gonewiththesmart

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Why no need worry the 6 owners objection? What are their grounds?

I think just the non disclosure of plot ratio 2.4 from the beginning will kill the deal.
Worse is, if, I mean if, some one share with any buyers but not with the all small owners.
 

gonewiththesmart

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春景花园集售计划生变 分层地契局发出禁售令 - https://www.zaobao.com.sg/realtime/singapore/story20221209-1341968?amp

交易完成后,每户家庭可获得大约116万元至253万元。共持有10个单位的数名屋主认为,集售价格和各单位的收益计算方式不合理。unquote
News say several owners holding ten units, claiming the distributed price not matching value of units..

2.so now there are two points to be contested, disclosure of Higher plot ratio and apportionment of sales proceeds.
 

edwinnn

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Why no need worry the 6 owners objection? What are their grounds?

I think just the non disclosure of plot ratio 2.4 from the beginning will kill the deal.
Worse is, if, I mean if, some one share with any buyers but not with the all small owners
Why no need worry the 6 owners objection? What are their grounds?

I think just the non disclosure of plot ratio 2.4 from the beginning will kill the deal.
Worse is, if, I mean if, some one share with any buyers but not with the all small owners.
you are clearly not a owner of chuan park unit.
There is nothing wrong done. As mentioned ( correction still 7 remaining clowns ) the clowns are clowning around.
We have nothing to worry about..
 

Aaron_soh80

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Chuan Park gets 80% mandate for collective sale after raising guide price to $938m​

The 99-year leasehold property could be redeveloped into 900 to 919 units.
The 99-year leasehold property could be redeveloped into 900 to 919 units.PHOTO: ST FILE

4 HOURS AGO


SINGAPORE - Chuan Park Condominium, a 99-year leasehold project in Lorong Chuan, has secured an 80 per cent mandate for its third collective sale bid, after raising its reserve price to $938 million from $900 million.
The owners of the development’s 710 sq ft units stand to get $1.22 million each, while owners of the 2,045 sq ft units may receive as much as $2.66 million each, according to a July 13 letter from the Chuan Park collective sales committee (CSC) to owners seen by The Straits Times.
As at Sept 4, 579 owners making up 81.33 per cent of total share values and 80.39 per cent of the total area of all lots in Chuan Park have signed the collective sale agreement.

The collective sale tender closes on Nov 18 at 3.30 pm.
Chuan Park failed in its 2018 sale bid with a guide price of $900 million, and subsequently lowered the price to $820 million.
“Since launching the first EOGM (extraordinary general meeting) in early October 2019, the CSC has diligently tracked land sales indexes as well as property market developments, and where the market has moved upwards, we have done research to ensure a suitable response to these changes,” the Chuan Park CSC said in the July 13 letter.



“As such you have seen us moving the reserve price from the initial $820 million to $850 million and in early May (back) to $900 million,” it added.
But the CSC has further raised the guide price to $938 million “as this is sustainable and still within the tolerance threshold of developers, given our location and the current market conditions”.
“The most recent government land sales exercise has been extremely encouraging, particularly in the case of the Ang Mo Kio residential site, which concluded at $1,118 psf ppr (per square foot per plot ratio), a result exceeding any previous awards where pricing for out-of-city centre plots generally stayed below the $1,000 psf mark,” the CSC said.
The 37,216 sq m site has a gross plot ratio of 2.1, with an achievable proposed gross floor area (GFA) of 78,153 sq m. The site, which is located near Lorong Chuan MRT, can be redeveloped into 900 to 919 units.
With no development charge payable, the land cost works out to about $1,042 psf ppr, after factoring in the 7 per cent bonus GFA, according to marketing agent ERA.
Collective sale activity among private residential condominiums has been heating up this year, with Braddell View set to convene an EOGM on Oct 8 to form its collective sale committee for its second attempt.
The 920-unit Braddell View, which was privatised from Singapore’s last and biggest privatised Housing and Urban Development Company estate, failed in its initial collective sale bid as there were no bidders for the mega site at $2.08 billion, or a land rate of $1,199 psf ppr.
Meanwhile, the 596-unit, 999-year Cashew Heights condominium in Upper Bukit Timah is now trying to get an 80 per cent mandate to launch a collective sale at $1.9 billion after its attempt in 2018 at $1.88 billion failed.
Owners stand to get between $2.8 million and $3.29 million each depending on the size of their units, according to an Aug 12 document showing the apportionment of sale proceeds based on the $1.9 billion reserve price.

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$1/month for the first 6 months
Still wan keep build condo ar?
 

edwinnn

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get your material facts correct first
never even apply how to get 2.4 PR , if apply of course need to pay and subject to approval
simi lack of full disclosure
7 jokers soon to be revealed in court. :ROFLMAO:
Yes the
Clowns will be finally exposed. They provide much needed comic relief. They will be made famous on this forum too
 
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