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Discussion About Single & Hdb Flat Ownership + Hdb Loan (Compiled)


worldangel

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https://www.edgeprop.sg/property-news/five-room-hdb-flat-tiong-bahru-view-sold-record-1588-mil

 

In other news, the number of $1m flats sold in Q1 2024 alone accounted for 40% of the total number of 470 such flats sold in 2023. However, these transactions remain the minority, making up about 2.7% of total transactions in Q1.

Edited by sayfirst
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Guest guest
19 minutes ago, sayfirst said:

https://www.edgeprop.sg/property-news/five-room-hdb-flat-tiong-bahru-view-sold-record-1588-mil

 

In other news, the number of $1m flats sold in Q1 2024 alone accounted for 40% of the total number of 470 such flats sold in 2023. However, these transactions remain the minority, making up about 2.7% of total transactions in Q1.

It means it is ok for HDB to sell at millions, since they say millions flat is minority.

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Guest Million Dollar question
19 hours ago, Guest guest said:

It means it is ok for HDB to sell at millions, since they say millions flat is minority.

People came to realise that some HDB properties are worth paying million than private condo.  The same price you get larger HDB space than smaller private Condo.  For same price, you get better govt services (GST voucher, utilities rebate, subsidised Upgrading...etc)   than private Condo.  For same price, you get better scenic view than private Condo.  For same price,  you can choose to live in Matured estates than remote area private condo.   Nowadays, it is hard to draw a clear line between HDB and private condo, FOR THE FACT that HDB has up its design standard comparable to private condo.

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21 hours ago, Guest guest said:

It means it is ok for HDB to sell at millions, since they say millions flat is minority.

If HDB know larger flat are in demand,  they should include it in their BTO,  likewise, the new 10 years restriction in prime area are just pushing people to snap up the current flat causing a surge in price,  that is very irresponsible for HDB. 

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Guest guest
2 hours ago, Guest Million Dollar question said:

People came to realise that some HDB properties are worth paying million than private condo.  The same price you get larger HDB space than smaller private Condo.  For same price, you get better govt services (GST voucher, utilities rebate, subsidised Upgrading...etc)   than private Condo.  For same price, you get better scenic view than private Condo.  For same price,  you can choose to live in Matured estates than remote area private condo.   Nowadays, it is hard to draw a clear line between HDB and private condo, FOR THE FACT that HDB has up its design standard comparable to private condo.

Newer BTO HDB, the space also not say big, the bedrooms also quite small. But maybe slightly bigger than some private condo. Unless you are buying those old HDB, then i must agreed the space is really big.

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Guest guest
1 hour ago, lonelyglobe said:

If HDB know larger flat are in demand,  they should include it in their BTO,  likewise, the new 10 years restriction in prime area are just pushing people to snap up the current flat causing a surge in price,  that is very irresponsible for HDB. 

Larger flat means which type of HDB? For BTO, HDB still building 5 rm flat. I noticed bigger flat not say very popular, most people are buying 4rm and maybe 5rm BTO.

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Guest HDB is Classic
14 hours ago, Guest guest said:

Larger flat means which type of HDB? For BTO, HDB still building 5 rm flat. I noticed bigger flat not say very popular, most people are buying 4rm and maybe 5rm BTO.

HDB has restricted itself from building 5rm BTO flat in prime and centralised and matured estate for reason it will be priced very high (in the range close to 800K), unlike those new BTO in Sengkang, Jurong, Sembawang and ulu ulu places.  This allows HDB to preach to public that HDB is still very "affordable" if citizens know where to choose.  If you want 5room BTO and affrodable, than you no choice must live in non-centralised town of Singapore.  

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Here's the translation:

"A dual-level penthouse unit spanning the 7th to 9th floors of Block 205B Compassvale Lane, with an area of 1,539 square feet, has been sold for $1 million in April this year. The unit has 74 years left on its lease."

Note: This appears to be a real estate transaction report, detailing the sale of a penthouse unit in a residential building located at Compassvale Lane. The unit sold for $1 million, has a total area of 1,539 square feet, and has 74 years remaining on its lease.

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Guest Guest
5 hours ago, thickhead79 said:

Now left JW, CCK and Semb no million HDB

Soon also have million HDB. Now to sell HDB as million, no need location must be centralise or near to MRT. 

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Guest Siao liao
6 hours ago, thickhead79 said:

Now left JW, CCK and Semb no million HDB

If those distant town can sell million, than the centralised town will become 1.5 million starting price and trickling effect to smaller room flat.  HDB will then justify another round of price hike to match "market price"   Younger generation better have their inheritance of HDB from their parent otherwise cannot afford to buy one.  We are becoming like hongkongers.

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Guest Yan

I'm in my 50s and earn between $200,000 to $400,000 per year with about $4 million in savings. I own a home worth about $1.75 million, with a $500,000 mortgage. My business has been doing well lately. Should I use the extra money to make principal payments on the mortgage?

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Guest Your ideal plan
5 hours ago, Guest Yan said:

I'm in my 50s and earn between $200,000 to $400,000 per year with about $4 million in savings. I own a home worth about $1.75 million, with a $500,000 mortgage. My business has been doing well lately. Should I use the extra money to make principal payments on the mortgage?

No, you should downsize because not sure how long you will live. Use the extra money and your savings to do charity work and donate them to the charity.  Then live a simple non extravagant lifestyle in an old folk studio apartment and get blessed.

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10 hours ago, Guest Yan said:

I'm in my 50s and earn between $200,000 to $400,000 per year with about $4 million in savings. I own a home worth about $1.75 million, with a $500,000 mortgage. My business has been doing well lately. Should I use the extra money to make principal payments on the mortgage?

 

Yes, if you have spare cash lying around and you don’t foresee using it in the near future, then paying down your outstanding mortgage can help reduce subsequent monthly instalments, in view of the current high interest rate environment.

 

US Federal Reserve is keeping its interest rates higher for longer for the time being till it’s satisfied with inflation data.

Edited by sayfirst
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Guest HDB
10 hours ago, Guest Yan said:

I'm in my 50s and earn between $200,000 to $400,000 per year with about $4 million in savings. I own a home worth about $1.75 million, with a $500,000 mortgage. My business has been doing well lately. Should I use the extra money to make principal payments on the mortgage?

You should just redeem your mortgage loan if you have no plan to use or invest your monies in the Bank &/or CPF.

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Guest Guest
6 hours ago, Guest HDB said:

You should just redeem your mortgage loan if you have no plan to use or invest your monies in the Bank &/or CPF.

Agreed, debt free for housing is the best.

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Guest Victor Tan

My mother-in-law passed away and her only asset was her home which she willed to her son, my partner. My partner, her executor, never filed the will nor did it go through probate. Can the state take any legal actions against the executor if there were no other assets and the terms of the will were satisfied? Will this affect the future sale of the house?

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Guest HDB
On 5/5/2024 at 6:54 AM, Guest Victor Tan said:

My mother-in-law passed away and her only asset was her home which she willed to her son, my partner. My partner, her executor, never filed the will nor did it go through probate. Can the state take any legal actions against the executor if there were no other assets and the terms of the will were satisfied? Will this affect the future sale of the house?

What legal actions? Your partner just need to get a Grant of Probate and then notify HDB. Do refer to the following links for the details:

1. Retain Flat Following Life Events

2. What happens to HDB flat after death?

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14 hours ago, Guest guest said:

Sellers are getting more and more greedy.

Their greediness is getting them into trouble,  no approval and yet dare to make the 2 separate 5 room into 1 jumbo flat?

 

Sent them to jail if possible,  need to have a severe punishment to deter future copycat,  otherwise we will have copycat buying 3 separate 3 room flat and make it into a 6 room + 3 utility room total 9 room flat asking for 3 million. 

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Guest Guest

If only senior citizen/pioneer/oldies like you had woken up and came to your senses 10-20 years ago and actually bought your first HDB on the cheap to enjoy today’s high rental income, you will be singing a totally different tune. 

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Guest Act Blur?
6 hours ago, lonelyglobe said:

Their greediness is getting them into trouble,  no approval and yet dare to make the 2 separate 5 room into 1 jumbo flat?

 

Sent them to jail if possible,  need to have a severe punishment to deter future copycat,  otherwise we will have copycat buying 3 separate 3 room flat and make it into a 6 room + 3 utility room total 9 room flat asking for 3 million. 

Seller agent is mainly at fault too.

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Guest guest
22 hours ago, thickhead79 said:

seller or agent?

 

who suppose to be professional? on their job

Both also same. Seller would be the final decision maker how much their HDB would sell, agent also cannot say anything if seller don't agree. Even though agent also have the responsibility to give professional advice to seller and not anyhow.

 

But some agent now not professional enough, can give bad advice to their buyer/seller. 

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9 hours ago, lonelyglobe said:

Their greediness is getting them into trouble,  no approval and yet dare to make the 2 separate 5 room into 1 jumbo flat?

 

Sent them to jail if possible,  need to have a severe punishment to deter future copycat,  otherwise we will have copycat buying 3 separate 3 room flat and make it into a 6 room + 3 utility room total 9 room flat asking for 3 million. 

They got the approval to break the wall when the family brought 2 units

 

but when they sell they must sell 2 unit not 1 

 

unless they need to seek approval 

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Guest Dishonest People
On 5/9/2024 at 10:29 PM, thickhead79 said:

They got the approval to break the wall when the family brought 2 units

 

but when they sell they must sell 2 unit not 1 

 

unless they need to seek approval 

Advertisers have the tendency to mislead, give ambiguous description and not completely clear about their products, most of the time.  Not just HDB, but F&B, renovationm beauty and other industries too.   It is often due to one blacksheep, all the good sheeps were unnecessarily drag into the slaughter house 

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Guest Mike

I had this 52-years-old Singaporean close friend. He is not married and he has no relatives. He says he has $295000 in cash savings, currently invested 90% in T-bills and 10% invested in SSB. And he owns a HDB 2 room 1 flat that is fully paid up. His flat can sell for around $440,000 to $450000. He stays alone in his 2 room 1 hall flat. His CPF had no money. 

 

He is not working and he don't intend to go find a job. 

 

Do you think with his $295,000 cash savings and his fully paid up $440,000 flat is enough money to last his retirement years? 

 

He said when he reach 55-years-old, he will apply for a 2room BTO senior 45-years flexi lease flat which cost about $100000, which he will move in at 58-years-old. 

 

Assuming his $295000 savings in T-bills every year earns about 3.2% to 3.3% between 2025 to 2030, he estimate his $295,000 will be left till only about $235,000 by 2030 when he reaches 58-years-old, then add the $340,000 sales contra proceeds of selling his $440000 2 room 1 hall flat in exchange for 1 flexi lease 45-years $100000 2-room BTO, his total cash savings at 58-years-old should have about $575000. 

 

 

 

 

 

 

 

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Guest Mike
7 minutes ago, Guest Mike said:

I had this 52-years-old Singaporean close friend. He is not married and he has no relatives. He says he has $295000 in cash savings, currently invested 90% in T-bills and 10% invested in SSB. And he owns a HDB 2 room 1 flat that is fully paid up. His flat can sell for around $440,000 to $450000. He stays alone in his 2 room 1 hall flat. His CPF had no money. 

 

He is not working and he don't intend to go find a job. 

 

Do you think with his $295,000 cash savings and his fully paid up $440,000 flat is enough money to last his retirement years? 

 

He said when he reach 55-years-old, he will apply for a 2room BTO senior 45-years flexi lease flat which cost about $100000, which he will move in at 58-years-old. 

 

Assuming his $295000 savings in T-bills every year earns about 3.2% to 3.3% between 2025 to 2030, he estimate his $295,000 will be left till only about $235,000 by 2030 when he reaches 58-years-old, then add the $340,000 sales contra proceeds of selling his $440000 2 room 1 hall flat in exchange for 1 flexi lease 45-years $100000 2-room BTO, his total cash savings at 58-years-old should have about $575000. 

 

 

 

 

 

 

 

 

Do you think with his current savings, is enough to last his retirement years?

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46 minutes ago, Guest Mike said:

I had this 52-years-old Singaporean close friend. He is not married and he has no relatives. He says he has $295000 in cash savings, currently invested 90% in T-bills and 10% invested in SSB. And he owns a HDB 2 room 1 flat that is fully paid up. His flat can sell for around $440,000 to $450000. He stays alone in his 2 room 1 hall flat. His CPF had no money. 

 

He is not working and he don't intend to go find a job. 

 

Do you think with his $295,000 cash savings and his fully paid up $440,000 flat is enough money to last his retirement years? 

 

He said when he reach 55-years-old, he will apply for a 2room BTO senior 45-years flexi lease flat which cost about $100000, which he will move in at 58-years-old. 

 

Assuming his $295000 savings in T-bills every year earns about 3.2% to 3.3% between 2025 to 2030, he estimate his $295,000 will be left till only about $235,000 by 2030 when he reaches 58-years-old, then add the $340,000 sales contra proceeds of selling his $440000 2 room 1 hall flat in exchange for 1 flexi lease 45-years $100000 2-room BTO, his total cash savings at 58-years-old should have about $575000. 

 

 

 

 

 

 

 

why think so much LOL

 

anytime we leaving 

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Guest June
26 minutes ago, thickhead79 said:

why think so much LOL

 

anytime we leaving 

 

anytime you leaving 

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Guest guest
1 hour ago, Guest Mike said:

 

Do you think with his current savings, is enough to last his retirement years?

Hearsay you need to have millions in cash to last for retirement years.

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Guest Guest
On 5/17/2024 at 10:31 PM, thickhead79 said:

why think so much LOL

 

anytime we leaving 

Worst is you cannot die and no money at the same time . So still must plan. Esp if you are all alone in this world. No one is going to help you.

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Guest Guest
9 minutes ago, thickhead79 said:

not like they going to reduce the price for doing less work

Think they did mentioned the price of the flat might be cheaper without all the walls.

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Guest Guest

Up to 20,000 homes planned for Turf City, including first Bukit Timah HDB flats in almost 40 years

 

 

SINGAPORE – The first public housing units in Bukit Timah in about 40 years will be built in Turf City, as part of plans to develop 15,000 to 20,000 new homes on the former racecourse site over the next two to three decades. 

The upcoming estate will be “inclusive and highly accessible”, with both public and private housing, said Minister for National Development Desmond Lee on May 23 at The URA Centre, where he launched an exhibition showcasing plans for Bukit Timah Turf City. 

Mr Lee said the addition of public homes in Bukit Timah will meet “the growing aspirations among Singaporeans to live closer to their workplaces in the city”. 

 

 

The Urban Redevelopment Authority (URA) said the new estate will be car-lite, pedestrian-friendly and well-served by public transport, with good walking and cycling connections.

Future residents will be within a 10-minute walk of either of two MRT stations – Sixth Avenue on the Downtown Line or Turf City on the upcoming Cross Island Line. Mr Lee said the latter will be completed in 2032.

URA said the estate will be developed over time, starting with areas closer to existing transport nodes along Dunearn Road – where Sixth Avenue MRT station is located.

 

Between 1933 and 1999, Bukit Timah Turf City was Singapore’s second racecourse, before the Turf Club relocated to Kranji to ease traffic congestion in the area.

 

The 176ha Bukit Timah site has been largely zoned for residential use since URA’s 1998 masterplan, and was leased out for interim lifestyle and recreational uses until end-2023.

 

 

 

To accommodate an anticipated growth in traffic as the estate is developed, road improvement works will be carried out in Dunearn Road, Bukit Timah Road and Eng Neo Avenue, URA said.

“Agencies are also studying the technical feasibility and environmental impact of implementing a new exit ramp from PIE, towards Tuas, as an alternative access to the site and to facilitate the distribution of traffic in the area,” it added.

 

Responding to queries, the Land Transport Authority said studies will be conducted on widening Eng Neo Avenue to three lanes in each direction from two lanes now, and improving existing junctions along Dunearn Road and Bukit Timah Road. 

URA said most amenities, such as shops, community and recreational facilities and parks, will be within a 10-minute walk of future homes in the estate. 

Fewer parking spaces will be provided to “prioritise space for public amenities, greenery and housing”, in line with plans to make the estate car-lite, URA added. 

 

 

As part of planning for the site, two studies – one assessing future developments’ impact on heritage, and the other the impact on the environment of the area – were conducted.

Key strategies to minimise future developments’ impact include potentially keeping 27 heritage buildings and structures in the estate, as well as retaining most of Eng Neo Avenue Forest and Bukit Tinggi. Studies had found that these two forested areas house flora and fauna species of conservation significance.

To respect the surrounding environment, said URA, new developments will have to adhere to urban design guidelines, such as keeping building heights lower when they are located near key heritage buildings, green spaces and existing low-rise housing areas.

 

Centrally located areas within the estate, such as those closer to MRT stations, will be used for high-rise housing to allow more to live near transport nodes, said URA.

Based on URA’s conceptual plans, four distinctive neighbourhoods are likely to be built in Bukit Timah Turf City, “each featuring new public spaces integrated with existing landscape and heritage buildings to reflect their unique characters while promoting community bonding”.

The estate and its neighbourhoods have been given working names, and Mr Lee invited the public to suggest names for them.

The first, Racecourse Neighbourhood, will be anchored by two historic grandstands and a new central open space reminiscent of the racecourse’s original racetracks.

 

 

This neighbourhood will be Bukit Timah Turf City’s civic heart, and provide “a wide variety of large-scale sports, recreational, commercial and community amenities” within a five-minute walk of Turf City MRT station.

Stables Commune, the second neighbourhood located near Dunearn Road, will include former workers’ quarters and stables that will house small-scale lifestyle offerings. It will “take after the existing street character of Bukit Timah Road”, said URA.

The third neighbourhood, Saddle Club Knolls, will “be defined by its undulating terrain and surrounding forests”.

Here, the former Bukit Timah Saddle Club and its surrounding landscape will be a lifestyle node, while the old Fairways Quarters could host family-friendly activities.

 

 

 

The last neighbourhood, Tinggi Hills, located within former golf course land, will have homes with good views of the Central Catchment Nature Reserve and Bukit Tinggi.

Holland-Bukit Timah GRC MP Sim Ann, whose Bukit Timah ward includes the former Turf City site, said at the exhibition launch that while the plans to develop the area are not a surprise to residents, the addition of public housing may draw mixed reactions among them.

“Some would welcome it because they would see it as an opportunity for more affordable housing options,” she said, adding that this could allow younger residents to live near their parents.

Others, she said, may “need time to digest this change, because it is after all a change in the neighbourhood”.

Citing the Toh Yi Gardens neighbourhood in Upper Bukit Timah – its 19 HDB blocks had 99-year leases commencing in the late 1980s – Ms Sim, who is Senior Minister of State for National Development, said residents living nearby would be able to picture what having more public housing would look like.

But for residents around Turf City, “it may take some time for them to grapple with this and also to digest this announcement”.

With the planned injection of high-density housing, residents can look forward to publicly funded amenities that would otherwise not be available in less densely populated areas, she said.

Sociologist Ho Kong Chong, an associate professor and head of studies for Yale-NUS College’s urban studies programme, said that with Singapore’s fourth-generation leaders pushing for greater inclusivity in society, “that process must work at the level of housing”. 

He noted that inclusivity in housing can be achieved at two levels – first with the integration of rental and sold flats in the same block, and then, at the broader level, by introducing diversity into neighbourhoods.

Given Bukit Timah’s size and its high concentration of private residences, said Prof Ho, the area is prime for greater social diversity to be introduced.

“The infrastructure is right, and it has a great bus network now supplemented by the MRT system,” he added, referring to the Downtown Line, which had its Bukit Timah stretch open in 2015.

On concerns that existing residents may not take well to the injection of public housing, Prof Ho said studies have shown that Singaporeans have a high openness towards diversity – which the country’s multicultural society has helped foster.

URA said its plans for Bukit Timah Turf City have been shaped by “extensive” engagement with residents, heritage and nature groups over the last few years, as well as feedback garnered since the October 2023 launch of public engagement for the upcoming draft masterplan, to be unveiled in 2025.

 

 

The masterplan guides Singapore’s development over the next 10 to 15 years.

The agency said that during engagement with existing residents in nearby estates, many said they look forward to better connectivity in the area and more retail and community amenities.

URA also cited a collaboration with nature groups to improve connectivity for Malayan colugos within the site – allowing them to move safely from one place to another – as one of the outcomes of its engagements.

On the heritage front, the agency engaged former workers and residents of Singapore Turf Club to document their work and anecdotes, with discussions yielding suggestions on the provision of amenities and communal spaces. 

The Bukit Timah Turf City exhibition at The URA Centre in Maxwell Road will run till July 23, and the public can share feedback on the plans through this feedback form.

 

 

 

 

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Guest Guest
8 minutes ago, Guest Guest said:

I think the Turf City Bukit Timah HDB are ideally suited for younger applicants.

The surrounding is high class residential, definitely good to stay there.  

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Guest Guest

For the Turf City Bukit Timah, if you think about the time-line from launch to balloting to unit selection to construction to key collection I think we should be looking around 10-14 years from today. That's what I meant by ideally for younger applicants.

 

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Guest Guest
6 minutes ago, Guest Guest said:

This just appeared in the ST.

 

I think before any housing launch, the Turf City underground station (CRL) must be completed first. 

 

LTA awards $530m contract for Cross Island Line’s Turf City station; work to start in Q3 2024

 

 

Means the launch of the HDB there need to wait until at least 2030? Since the station would be target to open in 2032.

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Guest Guest

The article talks about the "differing soil conditions in the area especially the harder ground conditions of the Bukit Timah granite formation". 

 

MND, HDB and LTA and all relevant agencies will be sensible in the launch date.

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