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

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11 mths agoEugene Lim, key executive officer of ERA Singapore, has shared that the government has revealed their development plans for a new 70-hectare HDB housing estate in Chencharu, located within the town of Yishun. These plans entail the construction of 10,000 new homes by the year 2040, with 80% of the development being public housing.According to Lim, who spoke to us about the area, nearly 84% of the current flats along Yishun Ring Road were built before the year 2000. “The upcoming enclave will not only bring a rejuvenation to the HDB enclave in Khatib, its large supply of new homes will also cater to the housing needs of those who wish to stay close to their families in the Yishun estate.”The area for the new Chencharu housing estate is bordered by Yishun Avenue 1, Yishun Avenue 2, and Sembawang Road. Having been earmarked for residential use since Master Plan 2019, the area currently features a variety of horticulture companies, hydroponic farms and exporters of ornamental freshwater fish.Chencharu will yield more than 10,000 new homes, most of which will be public housing. According to a press release from HDB on June 12, the design plans for Chencharu will make use of the area’s rich history and heritage, as well as its convenient location near transportation nodes. Taking into account the area’s existing facilities and amenities, such as HomeTeamNS Khatib, Khatib Central Neighbourhood Centre and Khatib MRT station on the North-South Line, the development plans aim to integrate the new Chencharu housing estate seamlessly into the existing community. Furthermore, plans are already in place for a new educational institution and nursing home in the future for the convenience of residents.Aerial perspective of the area in Chencharu that will be first developedAs part of this month’s BTO sales exercise, the first Build-to-Order (BTO) project in Chencharu will be launched. The project is set to comprise of 1,270 units, ranging from 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. With the first launch set for June, it will precede the new classification system that will take effect in October. The new classification model will categorise new BTO flats into Standard, Plus, and Prime, with Plus and Prime flats requiring an extended Minimum Occupancy Period (MOP) of 10 years before their owners can sell. According to Sandrasegeran, the initial batch of flats in Chencharu will most likely not be subjected to the new rules during the June launch.Lee Sze Teck, senior director of data analytics at Huttons Asia, predicts that the possible prices for four-room flats in Chencharu may start from $300,000, while five-room flats could possibly be priced from $400,000. The most recent BTO project to launch in Yishun was back in 2022, which saw 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.Yishun’s heritage and history on displayThe 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 colours. Additionally, wayfinding motifs and icons, such as pineapples and mackerel, will reference Yishun’s agricultural history. The bungalow itself, originally built in the early 1910s as a plantation house by the Bukit Sembawang Rubber Company, will be refurbished for community use within a new park that will also feature a heritage trail. Furthermore, anchoring the new Chencharu housing area will be a new east-west thoroughfare connecting the new park to the existing neighbourhood park near Khatib MRT Station. The thoroughfare will also feature a mixed-use integrated development, comprising of a new bus interchange, hawker centre, and shops. Other infrastructure improvements will include a new bus-only corridor called Chencharu Link, which will run north-south through the centre of Chencharu. “We can expect Chencharu to develop into a sustainable and car-lite estate, similar to Tengah,” says ERA’s Lim. He concludes, “The area will also benefit from future infrastructure works, such as the North-South corridor, making it an attractive option for those looking for housing outside the traditional Outside Central Region (OCR).”