mr funny
25-04-11, 16:07
http://www.straitstimes.com/PrimeNews/Story/STIStory_660818.html
Apr 25, 2011
Bt Timah land lease 'will be my top focus if re-elected'
THE residents of Mayfair Park estate tucked inside Rifle Range Road have been anxious of late.
Already, the owners of 114 bungalows and semi-detached houses and two condominiums in this corner of Bukit Timah, who have only 44 years left on the 99-year leases on their homes, are staring down property values that are headed south because of the dwindling lease.
Their prospect of selling does not look good either, because most banks are not keen to give loans for such properties; the Central Provident Fund Board also bars CPF savings from being used to buy properties with under 60 years left on their leases.
But Mr Liang Eng Hwa, who was a Member of Parliament for Holland-Bukit Timah GRC until Parliament was dissolved last week, said he will make working on the land lease in Mayfair Park estate his top priority if he is re-elected.
He said he will speak to residents to find out where they stand on the matter.
'I haven't really heard from them yet - whether they want to go for a renewal. I would have to find out more,' he said, but added that in the house visits he has done, many residents have asked him what the terms would be if they were to go for a renewal of their leases.
'What I will do, if elected, is to really put this as top priority and work on this,' he said.
Mr Liang was speaking to The Straits Times at the Family Carnival@Mayfair (Zhenghua) yesterday. Also at the event was the leader of the People's Action Party team expected to contest Holland-Bukit Timah GRC, Dr Vivian Balakrishnan.
JUDITH TAN
Apr 25, 2011
Bt Timah land lease 'will be my top focus if re-elected'
THE residents of Mayfair Park estate tucked inside Rifle Range Road have been anxious of late.
Already, the owners of 114 bungalows and semi-detached houses and two condominiums in this corner of Bukit Timah, who have only 44 years left on the 99-year leases on their homes, are staring down property values that are headed south because of the dwindling lease.
Their prospect of selling does not look good either, because most banks are not keen to give loans for such properties; the Central Provident Fund Board also bars CPF savings from being used to buy properties with under 60 years left on their leases.
But Mr Liang Eng Hwa, who was a Member of Parliament for Holland-Bukit Timah GRC until Parliament was dissolved last week, said he will make working on the land lease in Mayfair Park estate his top priority if he is re-elected.
He said he will speak to residents to find out where they stand on the matter.
'I haven't really heard from them yet - whether they want to go for a renewal. I would have to find out more,' he said, but added that in the house visits he has done, many residents have asked him what the terms would be if they were to go for a renewal of their leases.
'What I will do, if elected, is to really put this as top priority and work on this,' he said.
Mr Liang was speaking to The Straits Times at the Family Carnival@Mayfair (Zhenghua) yesterday. Also at the event was the leader of the People's Action Party team expected to contest Holland-Bukit Timah GRC, Dr Vivian Balakrishnan.
JUDITH TAN