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Collective Sale – an economic gain at social loss? |
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Thursday, 28 August 2008 |
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Strata living had changed since 1999 when the Land Titles (Strata) Act (Collective Sale) was amended to no longer requiring an unanimous consent from owners to collectively selling any strata development. That first amendment signaled that for a sustainable environment in land scarce Singapore, collective sales could help in achieving this objective. Unfortunately, many ugly and sad stories have unfolded from time to time in estates where collective sales were ongoing. Community harmony was destroyed. Recently, Laguna Park (another estate undergoing collective sale) was hit by a spate of vandalism. It was reported that the Chairman of the Council has been arrested on suspicion relating to these vandalism. Although the same Act was further amended last October, there are still voices urging the authority to further tightening the rules. These are mostly from those who called their homes, homes. In this land of less than 700 sq km, we sometimes cannot blame why the community and even the authority have given more priority economically than socially. There may be a need for a change in the mind. Owning a strata unit which you intended it as your home perpetually may no longer be possible. The challenge is how the community, be they the majority or the minority in the strata developments, get together to execute future collective sales harmoniously.
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