Chuan Park en bloc sale dissenters file objection with Strata Titles Board
The minority owners claim the condo’s higher baseline amounting to S$94m in buyers’ ‘savings’ was not disclosed, among other objections
Corinne Kerk
DISSENTING owners of the Chuan Park en bloc sale have filed their objections to the Strata Titles Board (STB), alleging that its Collective Sale Committee (CSC) and marketing agent ERA Realty failed to disclose material facts relating to a higher development baseline for the condominium – which translates into a “deep discount” for the buyers – among other issues.
The dissenters, which The Business Times (BT) understands comprise part of 10 dissenting subsidiary proprietors (SPs), say Chuan Park owners were told that the 37,215.6 square metre (sq m) site’s plot ratio is 2.1 under the Urban Redevelopment Authority’s (URA) Master Plan 2019, which translates to a maximum gross floor area of 78,152.76 sq m.
However, a 2017 letter from the URA obtained in an earlier en bloc attempt shows that a development charge (DC) for the site kicks in for development above the maximum gross floor area of 89,824 sq m, that is, a baseline of 2.4.
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