I feel most residents (including Serangoon Garden ) just want a peaceful, clean and secured environment to live in, especially Singaporeans since we are 'permanent residents' and not tenants or property speculators. Hence property prices appreciation is not likely to be the main concern.
With 1000 plus workers from India, what about 1000 plus workers from PRC ? For more than 3 years, residents in Geylang have been suffering the environment pollution, security concerns and crimes as a result of lack of strict enforcements or poor planning and approvals by the relevant authorities.
See examples of how residents suffered with the influx of foreign workers in illegal quarters and street prostitution attracted to them alongside with sex-orientated budget hotels, health centres and sleazy pubs/ktvs/nightclubs :-
http://lor24geylangresidents.atspace.com/appeal.html
street vice
http://www.youtube.com/watch?v=utr7xuvkeVA
Good luck to Serangoon Garden, Joo Chiat, Jurong West, Little India, Chinatown residents and all. Hope you wouldn't suffer the same fate as Geylang residents !