When people are thinking of selling HDB flats, they must keep the several things in their mind. You must have to think the sale proceeds of this process will go. Whether you are going to use the amount of sale proceed in the fully paid mortgage loan or you are going to pay the loan by this amount of sale proceeds. Community housing in Singapore is done by the Housing and Development Board (HDB) below leaseholds for 99-years. Industrialization is being done in many housing sectors. Now the people living in the leasehold houses is less as compared to the percentage that was 88 percent in 1990 and now it is 79 percent. Finances of these houses are provided through many different ways. HDB flats were constructed mainly to deliver affordable housing for the poor and their buying can be financially helped by the Central Provident Fund. These flats are located in housing estates, which are self-sufficient satellite towns with facilities like schools, supermarkets, clinics, hawker centers, sports and recreational amenities.
The first main objective is to build such falts that have very lesser cost as compared to others and helping those who cannot. 5-year building programmes are also developed by the HDB from 1960 to 1965. Initially, the flats that are sold by HDB is high in demand by the people who belong to the low-income group. Housing and the Development Board is providing an option to the citizen is to buy the flat instead of renting them. This option is given to them according to a scheme that is named as Home Ownership Scheme in 1964. In Selling HDB flats, the government s also helping the people in a way that they permit the people to use their Central Provident Fund for paying for the flat for the first four months. We can say that this fund is helping in the payment of downpayment. A total number of housing units that are built by HDB from the year 1959 to 1969 is 147,000 units. Among this number 47000 units are built due to the increase in the population of Singapore. Average of residential units that are constructed per year is 1400 units.
There are various reasons for the success of the HDB. One of the main reason is that it gets a lot of support from the government. This support is in the form that they permitting their employees to use their Central Provident Funds for the payment of downpayment in buying the houses. They are also permitting them to pay for the first four months. They also personally provide a lot of funds to this sector for the development in this sector. They are helping those people who can not afford the houses. Selling HDB flats is helping the country in increasing the living standards of people and in turn developing the country economically. They are resettling the squatter and they have a legal power given by the government for doing this. The first chairman of HDB is named as Lim Kim San who works hard and this is also the reason for housing and Development Board.
The total number of flats that are built in the year from 1960 – 1965 is 54,430 residential units for the public. These flats are high-rise and very high in density. The high rising of flats is due to the constraints of land. House shortage in Singapore is overcome in 1965. Also, they are providing the low-cost housing to the people.
There are many upgrading programmes for selling HDB flats. These programmes include:
- Main upgrading programme of HDB flats
- Home improvement programme
- Interim upgrading programme
- Selective En-bloc Redevelopment Scheme
- Lift Upgrading programme
- Interim upgrading programme plus
- Neighbourhood renewal programme
The main purpose of these programmes is to make the selling HDB flat possible by renewing the flats that were built to 1960s. it must be noted that board is working according to the manifesto provided by the government. Citizens are using their pension fund in purchasing and then renting them to earn income. Social stratification is tried out to be prevented in all this process as it results in the social conflict. The HDB flats must be distributed amonf the people of all income groups in all the areas and towns.