In reply to <a href="https://www.99.co/singapore/insider/3-rule-changes-floor-area-land-betterment-remnant-land-property-prices-en-bloc/#comment-202977">Yew Siong</a>.
Hi Yew Siong,
Usually, for en bloc, the Method of Apportionment (MOA) is used to determine the share of the sale proceeds each homeowner gets. There are four ways to distribute:
1. Based on share value - may not apply to older condos
2. Based on strata area
3. Based on valuation - different valuers may adopt different methods
4. Based on a combination of the three above, with different weightage for each.
Note that for (3), a valuer may adopt a method which is typical of a unit of each type or category, disregarding renovations, facing, floor level, etc., but he or she may half the area attributed to a roof-top terrace for valuation (due to it being part of a "bonus floor area").
Also, if based on strata area (2), the apportionment ratio for a unit is the unit's individual strata area divided by the total of all the individual strata areas on the title deeds of the units in the entire estate.
If the MOA is based on strata area, your strata void areas are still included. However, after 1 June 2023, strata void areas will be excluded from the strata area. Hope this helps!
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Fully agreed with Sebastian, sometime these Council members think they are smarter and knowledgeable than the Managing Agent and acted in contrary with the best practice and innovative resolutions being recommended.
For a penthouse with a void at dining area and a roof terrace on the next level that was built before 2013, How should it be calculated in fair value (abt 1/2 the normal built in area) ? Based on SLA data, both void and roof terrace has been included in GFA.
How will value be calculated in en bloc process on the void and roof terrace ( understand the usual is either using MOA and strata area or both)
Is it beneficial to existing owners ( prior 2013 built) in resale mkt / enbloc in general?
Thks.
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