The Chuan Park exemplifies a harmonious fusion of sophistication and functionality. The development offers residents more than just a home; it is a place that fosters community spirit through a variety of social activities and shared facilities. These amenities provide residents with a sense of belonging and promote healthy lifestyles for families. They also add to the property’s overall value, making The Chuan Park more than just a luxurious and fulfilling living experience.
The property is conveniently located in District 19 near Bishan Active Park and Serangoon Gardens Village. This provides residents with plenty of dining and shopping options. Moreover, the area’s proximity to major transportation networks ensures seamless connectivity and convenience. As a result, The Chuan Park is the perfect choice for those looking to live in an urban oasis with unparalleled quality of life.
As the number of 99-year leasehold condominiums approaches their 30th year, more owners are considering en bloc sales to secure higher returns. The 452-unit Chuan Park is one of the latest to take this route, with its collective sale slated for July 5. However, some of the owners are not convinced that the $890 million price tag is fair. They have objected to the sale, claiming that the CSC did not ensure that a PAFS was carried out and relied on a valuation report that used an incorrect gross floor area (GFA).
A judge has dismissed these objections and cleared the way for the sale of Chuan Park. Owners will receive gross proceeds of between S$1.16 million for a 710 sqft unit and up to S$2.53 million for a 2,045 sqft commercial unit. The developers, Kingsford Huray and MCC Land, will reportedly split the proceeds evenly between owners.
The dissenting owners have been sent a letter to update them on the progress of the sale. They have also been invited to a meeting on 25 July to discuss the next steps and estimated timeline of the en bloc process.
The meeting will be conducted via Zoom and is open to all owners. In addition to discussing the process, the meeting will also be an opportunity for owners to voice their concerns and questions. During this time, the developers will share their plans for the future of Chuan Park, as well as give an overview of the project. They will also answer any questions from the crowd. The meeting will be held at the Chuan Park community centre on 240 Lorong Chuan, and is expected to last for three hours. The event is free of charge.