Both the Selective En bloc Redevelopment Scheme (SERS) and Voluntary Early Redevelopment Scheme (VERS) are part of the Government’s efforts to renew our older housing estates. Under both schemes, the Government takes back flats before the end of the lease and redevelops them in order to revitalise estates with new developments.
Your SERS journey starts when your precinct is chosen for redevelopment via compulsory acquisition. SERS is a highly selective scheme limited to precincts with high redevelopment potential i.e. precincts where the land can be better utilised. SERS residents are provided the opportunity to select a new subsidised home at a designated replacement site, together with their current neighbours. For those still hoping for SERS, hold your “houses”. There will only be a few more SERS projects to come as many sites with high redevelopment potential have already been announced.
Nonetheless, as our HDB towns get older, we will need to progressively redevelop them to ensure that our city remains vibrant and liveable. This is where VERS comes in! VERS will be a voluntary scheme offered to selected precincts when they are aged 70 years or older. More home owners will be able to benefit from redevelopment before their 99-year HDB lease expires, as compared to SERS.
Confused? Here’s a summary of the differences between SERS and VERS.