Subversive plugin for STS is much better than subclipse svn plugin. Install subversive, and then uninstall subclipse by going to STS Help > About SpringSource Tool Suite > Installation Details >Installed Software and remove the ones with id containing org.tigris.

Next navigate to STS plugin directory from the command line and run the following commands:

ls | grep org.tigris.subversion | xargs rm -rf

Update on Tue, 01 May 12: After working with this plugin for around three weeks, I find it difficult to make directory changes. I find it difficult to use STS with subversive plugin. I agree that it has got more options than subclipse, but when it comes to daily operations like commit, rename, delete directories, branching, it is a big mess (at least for me). So I am back to subclipse.