Chencharu Housing Area Yishun Yield 10000 New Homes First Bto Project Launch Month

5 mins walk to MRT — Property Market News June 2024 BTO: Final BTO exercise before reclassification of HDBs Read more: https://www.edgeprop.sg/property-news/june-2024-bto-final-bto-exercise-reclassification-hdbs

The government has unveiled plans for a new 70-hectare HDB housing estate in Chencharu, located within Yishun town. With the potential to house up to 10,000 new homes by 2040, 80% of the new housing stock is set to be public housing units.

According to Eugene Lim, the key executive officer of ERA Singapore, nearly 84% of the existing flats along Yishun Ring Road were built before 2000. “This upcoming enclave will refresh the HDB enclave in Khatib, and this new and sizable supply of homes will cater to the housing needs of those who wish to stay near their families in the Yishun estate,” he says.

The area is bounded by Yishun Avenue 1, Yishun Avenue 2, and Sembawang Road. HDB states that the area has been earmarked for residential use since Master Plan 2019. Currently, it features a variety of horticulture companies, hydroponic farms, and exporters of ornamental freshwater fish.

Development of Chencharu will yield more than 10,000 new homes, with the majority being public housing units. (Image: HDB)

In a press release on June 12, HDB revealed the design plans for the new Chencharu area, which will leverage the area’s history, heritage, and proximity to transportation nodes. The development of the area into the new Chencharu housing estate will integrate existing amenities and facilities, such as HomeTeamNS Khatib, Khatib Central Neighbourhood Centre, and Khatib MRT station on the North-South Line. HDB has also announced plans for a new educational institution and nursing home in the future.

The first Build-to-Order (BTO) project in Chencharu is set to be launched as part of this month’s BTO sales exercise. The 1,270-unit project will comprise a mix of two-room Flexi to five-room flats. “The launch of Chencharu offers a fresh opportunity for those seeking to purchase a flat in a newly established community within the existing BTO framework,” says Mohan Sandrasegeran, head of research and data analytics at SRI. “As the first launch is set for June, it precedes the new classification system taking effect in October.”

Under the new classification model, new BTO flats will be categorized into Standard, Plus, and Prime, with Plus and Prime flats requiring an extended Minimum Occupancy Period (MOP) of 10 years before owners can sell. According to Sandrasegeran, it is “likely” that this initial batch of flats at Chencharu will not be subjected to the new rules during the June launch. Lee Sze Teck, senior director of data analytics at Huttons Asia, predicts that four-room flats in Chencharu may start from $300,000, with five-room flats possibly priced from $400,000.

The most recent BTO project to launch in Yishun was back in 2022, and it attracted significant demand, he adds. “Over 1,400 applicants competed for 917 four-room flats and another 1,400 applicants vied for 795 five-room flats in the BTO projects Vanda Breeze @ Yishun, Miltonia Breeze @ Yishun, and Aranda Breeze @ Yishun. Given this high level of interest in previous launches, we can anticipate a positive response to the new BTO project in Chencharu that is set to launch this month,” says Sandrasegeran.

The design of the first BTO project in Chencharu will incorporate elements of a 100-year-old two-storey colonial-era bungalow along Bah Soon Pah Road. For instance, the project will include a black outline around the first few floors, reflecting the bungalow’s height, while the planned red, black, and white façade mirrors its colors. In addition, wayfinding motifs and icons like pineapples and mackerel will reference Yishun’s agricultural history. The bungalow itself, originally a plantation house built in the early 1910s by the Bukit Sembawang Rubber Company, will be adapted for community use within a new park that will feature a heritage trail.

An aerial perspective of the area in Chencharu that will be first developed. (Image: HDB)

Anchoring the new Chencharu housing area will be a new east-west thoroughfare connecting the new park to the existing neighborhood park near Khatib MRT Station. There will be a mixed-use integrated development along this avenue, which will comprise a new bus interchange, hawker center, and shops. Further infrastructure improvements will include a new bus-only corridor called Chencharu Link, which will run north-south through the center of Chencharu.

“We can expect Chencharu to develop into a sustainable and car-lite estate, similar to Tengah,” says ERA’s Lim. “The area will benefit from future infrastructure works, such as the North-South corridor, making it an attractive option for those looking for housing outside the traditional OCR.”

Read also: February BTO exercise launches 4,126 flats for sale

The Woodlands, known for its strong emphasis on promoting family and community growth, is poised to experience significant improvements in its educational landscape as part of a larger regional development initiative. These developments may involve the establishment of new schools, renovations to current establishments, and the implementation of community-driven educational initiatives, all of which will greatly benefit the inhabitants of Norwood Grand. As a result, the highly sought-after Norwood Grand Condo will continue to be an ideal residential option for families seeking access to quality education within their immediate surroundings.

The most recent BTO exercise in Yishun was in February 2022, and the project attracted significant demand. Over 1,400 applicants competed for 917 four-room flats, and another 1,400 applicants vied for 795 five-room flats in the BTO projects Vanda Breeze @ Yishun, Miltonia Breeze @ Yishun, and Aranda Breeze @ Yishun. Given this high level of interest in previous launches, we can expect a positive response to the new BTO project in Chencharu that is set to launch this month, says Sandrasegeran.

Additionally, Yishun’s heritage and history will be honored with the design of the first BTO project in Chencharu. The project will incorporate elements of a 100-year-old two-story colonial-era bungalow along Bah Soon Pah Road. For instance, the project will include a black outline around the first few floors, reflecting the bungalow’s height, while the planned red, black, and white facades will mirror its colors. In addition, wayfinding motifs and icons like pineapples and mackerel will reference Yishun’s agricultural history. The bungalow itself, originally a plantation house built in the early 1910s by the Bukit Sembawang Rubber Company, will be adapted for community use within a new park that will feature a heritage trail.

Anchoring the new Chencharu housing estate will be a new east-west thoroughfare connecting the new park to the existing neighborhood park near Khatib MRT Station. A mixed-use integrated development is also planned for this area and will include a new bus interchange, hawker center, and shops. Further infrastructure improvements will include a new bus-only corridor called Chencharu Link, which will run north-south through the center of Chencharu.

“We can expect Chencharu to develop into a sustainable and car-lite estate, similar to Tengah,” says Lim. “The area will benefit from future infrastructure works, such as the North-South corridor, making it an attractive option for those looking for housing outside the traditional OCR.”

Read also: February BTO exercise launches 4,126 flats for sale

The most recent BTO exercise in Yishun was in February 2022, and the project attracted significant demand. Over 1,400 applicants competed for 917 four-room flats, and another 1,400 applicants vied for 795 five-room flats in the BTO projects Vanda Breeze @ Yishun, Miltonia Breeze @ Yishun, and Aranda Breeze @ Yishun. Given this high level of interest in previous launches, we can anticipate a positive response to the new BTO project in Chencharu that is set to launch this month, says Sandrasegeran.

Chencharu is scheduled to be launched as part of this month’s BTO sales exercise and will yield more than 10,000 new homes, with the majority being public housing units. (Image: HDB)

Additionally, the new Chencharu housing estate will integrate existing amenities and facilities, such as HomeTeamNS Khatib, Khatib Central Neighbourhood Centre, and Khatib MRT station on the North-South Line. HDB also announced plans for a new educational institution and nursing home in the future.

The Chencharu housing estate development will be first launched this month as part of the BTO sales exercise. The project will feature a mix of two-room Flexi to five-room flats, with a total of 1,270 units. “This first launch offers an excellent opportunity for those interested in purchasing a flat in a newly established community within the existing BTO framework,” says Mohan Sandrasegeran, head of research and data analytics at SRI. “As it precedes the new classification system taking effect in October, it is likely not to be subjected to the new rules during the June launch.”

Under the new classification model, new BTO flats will be categorized into Standard, Plus, and Prime, with Plus and Prime flats requiring an extended Minimum Occupancy Period (MOP) of 10 years before owners can sell. Four-room flats in Chencharu could possibly start from $300,000, with five