Teresaville Owner's Blog

Article submitted by a SP based on their own research.. After reading through the Land Strata Title, there appears to be 2 areas of concern regarding the way the CSC members were elected. Eligibility of Elected CSC Members During the EOGM, Mr Phua Jin Seng nominated 8 SPs for election for the CSC. However, according to the Land Strata Title, ownership of one lot entitles you to nominate one person for election. If you own two or more lots, you are entitled to nominate more persons for election, in proportion with your share value but not more than 49% of the total number of council seats. Disclosure of conflict of interests According to the Land Strata Title, a person standing for election as a member of a collective sale committee has to declare at the general meeting the nature and extent of all such conflicts of interest or potential conflicts of interest. Based on the minutes of the EOGM, there was no indication that nominees for the CSC were asked ...

Dear Resident Owners of Teresa Ville, This is a follow up on last posted article.. Following news item in Straits Time of Sept 28, 2017 indicates that property prices may rise up to 15% next year. Determination of Minimum Reserve Sale Prices of Teresa Ville must take into account factor of escalating property prices, when resident owners have to buy a new home. Wonder if earlier suggested Reserve Sales Price of $1.2 Billion ($1.16M per share value) shall be enough to cover future cost of replacement. There is another  EOGM on Oct 15, 2017 to select marketing agent. No prior information has been given by CSC as to who are the shortlisted candidates. SPs shall be pushed to select one out of a list at a short notice, without in depth pre-study of their credentials. During EOGM, Resident Owners must ask if CSC has considered escalating cost of equivalent replacement property during their short listing process (as it is very likely that initial estimate of minimum reserve sales pr...

Attention all resident owners of Teresa Ville. Strong indications are that property prices in Singapore are on the rise. Per below article in Straits Times of September 12, 2017; prices are likely to go up by 10% by next year and may continue the trend thereafter. Resident owners of Teresa Ville need to think how they are going to fund the high cost of replacement property. Hopefully, marketing agents shortlisted by Collective Sales Committee shall propose minimum reserve price of Teresa Ville over $1.2 Billion ( about $1.2M per share value ), to finance cost of equivalent replacement and all other associated expenses.