Source : The Straits Times, Seot 25, 2007
IT WAS indeed timely that the Government introduced new laws on en bloc sales. However, it is disappointing that the percentage of approval before an en bloc sale can go through was not increased to 85 per cent for properties above 20 years old and 95 per cent for those below 10.
The law also did not provide for punishment of persons in the sales committee who falsely induce owners to sign up by claiming they have a developer buyer offering a fantastic price. This was what happened to my friend who lives in the east. Such an unscrupulous practice by condo raiders must not be condoned.
William Tay Kay Chiak
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