The fact that the government developed rehabilitation programs for older flats is no secret. Many people live in apartments that are already a few decades old, which were offered in leases for a period of 99 years. Once the lease period expires, the flats will return to the property of the government while their former owners move to new locations or are supported by the government to find new places. But, as it is known, the authorities in Singapore desire to modernize and update all of these old flats, with the help of the Voluntary Early Redevelopment Scheme. The scheme means that once a person ends up living in a flat that is 70 years old or older, it is possible to choose the Voluntary Early Redevelopment Scheme and tap into the modernization opportunities offered by the government.
As you may have noticed, this program is called a “Voluntary Scheme”. This is due to the fact that, according to the officials, the financial support offered in case someone opts for the scheme is not that generous. In other words, the authorities will help old HDB flats find other places to live until their flats are modernized, but the support probably won’t be as great as some would desire. Thus, the scheme is voluntary and only those that consider the conditions acceptable can unroll. So, if one chooses to find another place to live instead of opting for the modernization of an old flat, he or she has all the freedom and right to do so.
Still, there is still time until HDB flats will reach the age of 70 years old, why is this project released so soon? This is one of the questions that may pop into your mind as you read through these lines. Well, the government wishes to start the modernization process in a timely manner, as there is a lot of work to do. Thus, it wants to make sure that work will start progressively and that every unit will enjoy the right amount of planning and attention. How does the scheme work? If someone will vote in favor of the scheme, then the government will come and buy the flat from them, with the purpose of modernizing and redeveloping according to the plan. Then, with the help of the proceeds, the owners of old HDB flats that were bought back will be able to get themselves a new apartment.
What happens if one chooses to vote no for the Voluntary Early Redevelopment Scheme? Then there’s no problem whatsoever. The person can continue living in his or her HDB flat according to the agreed lease, and that is until all the 99 years expire. Still, there’s no need to rush into making a decision at the moment because, as discussed, it is still very early for this scheme. It won’t start for the coming 20 years, as the government still needs to figure out how to make this scheme viable for a long-term from a financial point of view. Besides this, there are many other technical details to consider, so there’s plenty of time to decide what the best vote in the case of the Voluntary Early Redevelopment Scheme is.
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