This sentence in the video sums up the feeling of 90% of those affected by AMK SERS
“If the outcome was not different, there would have been no need for the government to introduce the 50-year lease and the lease buyback scheme as a new option for the Ang Mo Kio residents“
In short, we felt cheated by Government. Period.
The Accrued Interest is still counting
In a typical HDB sale, both buyer and seller will likely complete the transaction within the same year.
The sale amount will then put back to the seller’s CPF account together with the accrued interest.
However in the AMK SERS, even we got the final compensation amount they announced in 2022, the money will only be paid to us upon collection of keys in 2027/2028.
So between 2023 till 2027/2028, our accrued interest continue to accumulate. So as you can imagine, by the time you receives the 2022 final compensation amount in 2027/2028, my worthless HDB would had already cost more than the compensation amount.
And as everyone can see today, everything had became so damn expensive after the GST hike. Yet, the government just looked the other way. Yes they did provide a miserable $300 one time CDC voucher. But as one minister said last time – “How much do you want? Do you want three meals a day at a hawker center, food court, or restaurant?”
Another typical BS
This article said that “She added: “I feel that we need to repeat this: 99 per cent of the flat owners who were involved in the SERS exercise do not need to top up to purchase similar type flats with a full 99-year lease or a similar sized flat on a 50-year lease.”
99%? You sure? If she’s talking about shorter lease, even a Primary 1 kid can do the Math. What we are fed-up with is the fact that you ‘forced’ us to move, made us top-up more than $100K for something we didn’t ask for and told her to engage our own lawyers to fight with your appointed valuator if we are not happy with the outcome.
If 99% of the resident were so happy about no need to top up, why the last minute rush to roll out a 50-years targeting AMK SERS resident?
No need to top up? Just look at my compensation here. If I opt back the same floor area and level as my current unit, that miserable amount is not even enough as your new 2nd floor unit’s starting price already $438.
This is nothing but a wayang to take over the land that is near the new Cross Island Line and profit from future development. Minions like us only get screw left right center.
PS: And stop playing with words. We didn’t asked for similar type flat. WE WANTED SIMILAR SIZE FLATS! We did not ask for a downgrade of our living standard in the first place. You were the one that forced us into this.
