Latest update


• Teresa Ville Protem Sales Committee (TVPSC) met on August 25, 2007.

• In responses to invitations to 5 Property Agents and 5 Legal Consultants, there was positive response only from following property Agents
o Jones Lang LaSalle (JLL)
o Huttons

• None of the invited Law firms accepted their invitation.

• In last week of August 2007, a number of amendments in the Law governing process of Collective Sales were proposed. These proposed changes also include process of selection of Property Agents and Law firms.

• On recommendation from one of the subsidiary proprietors, an invitation was sent to a Law firm named De’souza Tay & Goh, who agreed to meet.

• On September 1, 2007, all 3 above mentioned firms met TVPSC members.
o De’souza Tay & Goh law firm presented their credentials and briefly explained salient points of proposed changes in Law. As per their view, Teresa Ville Protem sales committee shall be deemed as lawful, as it was formed in a duly convened EOGM.
(This is one of the requirements in proposed changes in Law. )
o JLL had a discussion with TVPSC members, who suggested that they should wait till new Law comes in force, before proceeding further.
o Huttons, gave a formal presentation on their experience and proposal to act as the Marketing Agent..

• Following TVPCS members submitted their resignation as committee members, due to work commitments –
1) William Phua (August 20)
2) Jacqueline Boudeville (August 24)
3) Philip Ang (September 9)
4) Kum Kong Chan (September 13)

In meeting of August 25, members unanimously agreed that since there were sufficient number of committee members, instead of looking for replacement, committee would continue to function with remaining members.

• Despite proactive efforts to invite more Property and Legal firms, there was not much success in getting positive response. It is a general presumption that most of Property Agents and LawFirms are waiting for the new Law to come in force (expected in October 2007). They might like to study impact of new law on scope of their role, responsibilities and costs before giving a serious proposal.

It is therefore decided that instead of evaluating only limited number of candidates and proceeding further, they should wait till the new Law is in place.

TVPSC shall now meet, only after the New Law is in force and shall proceed as per the provisions of new law.

Thank You..

Update...

A quick update

EOGM was convened on 28 July Saturday at 3:00 pm at Function Room 2&3 in TeresaVille, & following :

(1) 59% quorum was achieved

(2) 76% of the quorum voted "FOR" collective sales.

(3) A Reserve price of 850+ million for the entire estate was fixed by majority vote. (proposed 800+, 850+, 900+)

(4) A sales Committe of 15 members was selected & endorsed.

Any comments/views, please share in the post below. Cheers !

01 August 2007

After the EOGM...

Dear friends, you may use this forum to voice your concerns, exchange views etc on decisions taken at the EOGM. Pls stay objective, state facts only, and appreciate if you can give your unit number/name.
Posted by 10 comments:

01 July 2007

EOGM - agenda & suggestions

For the EOGM (called to discuss en bloc), the agenda will be :
(1) en bloc or no en bloc
(2) if en bloc, then decide on a minimum reserved price
(3) select sales committee members

suggest :
(a) what you want to listen
(b) what you want to say
Appreciate comments WITH name & unit number.
Posted by 12 comments:

28 June 2007

JLL/RT meeting of 23 jun 07

Thanks for your comments on this meeting which 120 SPs attended. But to maintain harmony & goodwill amongst neighbours, we will publish only constructive comments/suggestions which can contribute towards the positive working of the next step - EOGM. Please share your views on improving the "process", and not against "people".

This topic is now CLOSED. Thank you for your feedback & comments.
Posted by 4 comments:

27 June 2007

In the news...

Share with us any news that you have read in the papers/magazines or heard from friends regarding EN BLOC SALES.
Try to give name, date or link of publication for authenticity.
Posted by 1 comment:

18 June 2007

1-2-1 Exchange

In 1-2-1 exchange, the developer gives back to owner an equivalent unit when the new development is constructed. Discussion on pros & cons of such method are welcome...
Posted by 5 comments:

08 June 2007

Alternative to En Bloc

A resident has commented that instead of en bloc, we should "refurbish the whole estate with professional architects". Do you like this idea ? Or would you like to suggest other alternatives...
Posted by 8 comments:

28 May 2007

En Bloc experiences

We have, within us, some residents who bought Teresa Ville after going through an en-bloc. Share their first-hand experiences ...
Posted by 4 comments:

24 May 2007

CSA - what to look for ?

CSA - collective sales agreement : This document will run into pages & pages of fine print. What should SPs look for to safeguard their interests ?
Pls contribute your opinion (preferably in point form for easy understanding). Thank you :))
Posted by 7 comments:

Location

High profile projects are being planned within 3-4 kms of Teresa Ville, which is one of the very few FREEHOLD estates in this area. For the first time in recent history, South Zone is begining to be in the limelight. And as we all know property values are determined by ... location, location, location !
We welcome your views on this.
A resident gave us this link today, which does not appear full in the comments. So we have copied it here for your ease.

Find this article at:
http://www.time.com/time/magazine/article/0,9171,1624897,00.html
Posted by 3 comments:

22 May 2007

Call for EOGM

Some residents have expressed the need for an EOGM to be called so that the entire process can be dealt with transparency & clarity. Any comments ??

This topic is now CLOSED. Thank you for your contributions & comments.
Posted by 26 comments:

21 May 2007

The Right Price

The most crucial question of all - what is the right price to find an equivalent sized property, in an equally serene environment, 10 minutes from Orchard Road, well connected by expressways... plus a cash compensation to make it worthwhile.
And not to forget to factor in that we will only see our money atleast a year AFTER signing for it - so where will the property prices be a year from now ?
And remember we are giving away to the developer, not only our apartments, but also FREEHOLD land at a vantage location along with it. So what do you say ??
Posted by 13 comments:

11 May 2007

Comments on En Bloc

Friends of Teresa Ville, this blog has been created for you all to express your opinion on the proposed en bloc sale of Teresa Ville. Feel free to express your opinion & comments, share experiences of other similar en bloc sales, anything - as long as you do not forget to sign your name & unit number below
Posted by 28 comments: