Resident Owners of Teresa Ville .. Take Note....Replacement Property Cost Shall Be Even Higher Next Year..


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 prices indicated by candidates would have been the key selection criterion). SPs must have a choice to select "None of the Above" from the list of short listed candidates, if their initial estimate of reserve prices falls short of the expectation per above and as expressed in other articles in this blog submitted by various SPs.

Article in Straits Times on Sept 28, 2017

    

Comments

Post a Comment

Popular posts from this blog

Is our enbloc sale agent able to enhance Teresa Ville's land value?

  Is our enbloc sale agent able to enhance the land value of Teresa Ville?   (1) What can the enbloc sale agent do to increase the land value of Teresa Ville?   Answer : Very little and next to nothing.   There are a few things that can increase the land value of Teresa Ville, but the property agency cannot do most of these things.   Firstly, the enbloc sale agent cannot increase the plot ratio of Teresa Ville in the Master Plan. An increase in the plot ratio can increase the value of the development land.   Secondly, the enbloc sale agent cannot increase the building height limit of Teresa Ville. An increase in the building height limit together with the increase in the plot ratio can increase the value of the development land.   Thirdly, the enbloc sale agent cannot build a new MRT station, shopping mall or other value-accreditive buildings or infrastructure next to or near to Teresa Ville.   Fourthly, the enbloc s...
Read more

Is it worth signing this CSA ? Reflection on EOGM on Feb 28, 2021

Image
  EOGM on Feb 28, 2021 Contribution from one of the fellow owners of Teresa Ville Dear Fellow owners of Teresa Ville, Like many of you, I attended zoom EOGM on Sunday, February 28, 2021. I would like to share some of my reflections and observations. 1.       Unproductively long Meeting and Leaving things to the Last day :   While the meeting was well organized with almost no technical glitch, it went on for too long (5 + hours ). Some owners proposed amendments to the fee structure and terms of Collective Sale Agreement (CSA), but the CSC chairman refused to adopt any of the suggestions and proposals from the owners. It would have saved our time, if the CSC chairman could have clarified in his opening remarks, that since Feb 28, 2021 was the last date of the mandate of Collective Sales Committee, there was no time and scope to make any amendments to the CSA, and the engagement of the property agent and law firm. Hence, any discussion, sugge...
Read more

Blog www.teresavilleowners.com is alive

Image
Greetings,   Teresa Ville Residential & Commercial Unit Owners.. Dear Fellow SPs of Teresa Ville, Greetings and Happy New Year. You may recall, this Blog was created by an independent group of  Teresa Ville Owners in mid 2017 with objective of -   a)     building a community of fellow SPs and  b)      presenting an easy to access platform for sharing – ·        important insights and key findings, ·        views and concerns, ·        experiences and suggestions regarding then proposed En-bloc initiative. Teresa Ville Owners could also post relevant information, facts and figures which helped make more informed collective decision, as the En-bloc process progressed.  Keeping the same objective, we are pleased to re-activate this blog, as the En-bloc initiative has once again started with proposed EOGM in Feb 2021. T...
Read more