ISSUE OF TITLE DEEDS TO HDB FLAT-OWNERS (Expediting of procedure)

Mr Yeo Toon Chia asked the Minister for National Development (a) how many flat owners have redeemed their housing loans so far and how long does it take to issue title deeds to the owners; and (b) will the Housing and Development Board take steps to expedite the present procedure for the issue of title deeds to owners of HDB flats.

Mr Teh Cheang Wan: Mr Speaker, Sir, as at 1st January, 1984, 109,327 flat-owners have redeemed their loans. It normally takes six months for the HDB to release title deeds to flat-owners after they have redeemed their loans.

The present procedure for the issue of title deeds is satisfactory. It takes two months for the HDB to prepare the necessary documents and to seal and stamp the title deeds at the Stamp Office. Another three to four months are required for the Registry of Land Titles and Deeds to register the documents. The total period of six months for the issue of title deeds is considered reasonable. Lessees who are eligible to sell their flats to buyers of their own choice would be able to do so during this six-month period, even without their title deeds.