Nanak Mansions is the exemplary residential project covering the areas Katong, Siglap, Tanjong Rhu in the district 15 of Singapore. It is situated at 92 – 128 Meyer Road, which is near to many educational institutes Canadian International Institutes, ETONHOUSE International School, Tanjong katong primary school, Kong HWA School and HAIG GIRLS’ school.
UOL Group Buys Nanak Mansions
This news is up roared that the freehold Nanak Mansions has been purchased by an associate of UOL Group for $201.1 million. The best part of this land is that 50 percent of the owned piece of land, 10185 sq m site, would be redeveloped with a plot ratio of 1.4. The UOL deputy group chief executive Liam Wee Sin has recently gave a statement that due to the coveted location, Nanak Mansions has a great opportunity of converting it into spacious and luxurious project as their “Nassim Residences of the East”.
Nanak Mansions Indian Family
According to UOL, the owners have been given an option that could result in Secure Venture to have road land if both the parties agree on the certain conditions. There is also a private road connecting it with Jalan Nuri measuring 910 sq m. The development of Nanak Mansions completed in 1980s and consists of 36 maisonettes, each having four or five bedrooms. These units were owned by some Indian families and they don’t live here but have rented them out. According to some authentic sources these Indians are ready to sell their properties if the cost they would be offered be high and appealing.
One senior property consultant has proposed that it would be reconstructed into 5-storey project with a maximum of 203 units and average size be around 700 sq ft in terms of total area covered for each unit. The revised rates and values of Nanak Mansions after revamping and redeveloping the site would be higher than previous ones. The shares holders or investors could get the maximum benefit once converted from raw to ravishing land.
Some specifications of Nanak Mansions
Nanak mansions residential property is an esthetic and lovesome place to live in, providing its residents a quality living with affordable costs. It offers limited but drop-dead scenery to the inhabitants of the place along with the facilities of swimming pool, sauna, tennis court, Jacuzzi and a gymnasium a lot more. Proper parking place is built for the residents of the Nanak Mansions.
A well-developed security system has been installed in Nanak Mansions to keep in mind the absolute security measures to avoid any mishaps. Schools, marts, markets, metro station and several renowned restaurants are near to it.