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01 October 2012

1st October, Monday




Pearls Centre residents seek to get flats faster

Source: The Straits Times

Five households from Pearls Centre have asked the authorities to waive a 30-month debarment period for getting a new flat from the Housing Board.

The 43-year-old building in Chinatown was acquired by the Government to build underground tunnels for the Thomson MRT Line last month.

The owners of 44 residential units and occupants of 199 shops have two years to move out.

The Singapore Land Authority (SLA) and the Housing Board are evaluating the requests.

The Government has offered help to the affected owners, including waiving the standard 60per cent cap on a second home loan, as well as giving residents an advance payment of 40per cent of their statutory compensation.


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