Perhaps there were no buyers earlier when Taiping Consolidated was working on it ? Hence, YTL just came in and took everything, then sell to their buyers. I don't think YTL can just side-step Taiping Consolidated's purchasers and brought his (YTL's) own purchasers in, right ?

This is exactly what happens, YTL just side step us. The law suit is going on for over a decade. The structure was up to 3 story of car park, then someone set a fire and burn it down and you all know what happen next la.

Now you understand why people say the Y families are blood suckers SOB.

This post has been edited by KLsooner: Nov 2 2010, 11:51 AM

KL, I am sorry to hear that.

Let me understand : So, it's just three storeys up only and only carparks up, then the residential units were not started yet. Subsequently, this three-storey structure was burnt down. I supposed Taiping Cons disappeared after that.

Then YTL came in, took over, but they should have worked with the current purchasers (if there were any), since YTL is now coming in as a White Knight onto that plot of land. Not as a fresh developer.

What about the strata titles ? Was the land sub-divided up yet and strata titles being processed for the earlier purchasers ?

The question remains : WERE THERE ANY PURCHASERS EARLIER UNDER TAIPING CONSOLIDATED ?

Developer and area, if u dun mind me asking?

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Added on November 2, 2010, 1:55 pmNot to say the houses, even when i went to the TNB substation 5 years ago, it was abandoned.

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Added on November 2, 2010, 1:57 pmLocation Location Location...

Which part of Johor?


This post has been edited by furryfluffy: Nov 2 2010, 01:57 PM

every part of johor....mostly buy landed is for ownstay like pay rent and expect little or no capital appreciate

reason being
1. JB being managed by the amno, and MCA fort(obviously never do anything one)

2. there is little or no development in heart of JB, all building are dated, infrastructure, road not properly maintained

3. JB looks the same 10 years ago, so will be your property price

Nothing to do with area or developer, just bad timing (market peak) & inexperience (did not negotiate properly - classic motivated buyer scenerio).

If u need to know it is USJ & developer is Slime Darby

The workmanship is shoddy and the design really stupid. e.g. road floods eveytime it rains coz water do not flow into drain but directed to the road, porch is slanted at an elavation, roof does not extend enuf to protect from rain - rain splashes through open room windows, u get wet coming out of car even when parked in porch.

Wow... surprising eh? While most ppl think USJ is prime area & Slime ("l" typo intended? ) Darby is reputable...

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Added on November 2, 2010, 2:17 pmIC... I always thought those who work in Singapore are driving up the price of property market. Sorry I was wrong.







This post has been edited by furryfluffy: Nov 2 2010, 02:17 PM

Worst investment is Rasah Kemayan shoplots. After paying 20% progress payment, the project was abandoned more than 10 years ago. Until now, no news or compensation ever been paid. 100 % lost.

You mean not even the land clearance work started or piling done ? No work started at allat the designated site ?

With your S&P, you are the owner of the land, though it is still on Master Title. Go to the Land Office and enquire, and put a caveat if possible.

what is the developer name?

port klang shophouses...

if im not mistaken, rasah kemayan already has the building superstructure up. the shape is there but it was abandoned during the 1998 crisis

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Added on November 5, 2010, 11:20 amAny legal action against the developer?

Is this is one at the corner near the new hospital and very near the Seremban toll?

I saw the building.. such a waste...

This post has been edited by furryfluffy: Nov 5 2010, 11:20 AM

If the superstructure is up, then there is a bigger problem.

I believed some purchasers are still paying interest to the bank because some initial staged disbursements would have been released by the financiers/banks. There is no way that the bank will let the purchasers go. If the purchasers stop servicing the interest, then the banks will go after the purchasers themselves because there is no foreclosure that can be done since the property was abandoned.

The purchasers would have had their names blacklisted and they could not get another loan.

I would rather the developer did not start at all, then the purchasers would only lose the 20% downpayment and nothing more.

This post has been edited by Hansel: Nov 5 2010, 12:17 PM

[quote=furryfluffy,Nov 5 2010, 11:18 AM]
if im not mistaken, rasah kemayan already has the building superstructure up. the shape is there but it was abandoned during the 1998 crisis

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Added on November 5, 2010, 11:20 am


The developer is Kemayan. It is already delisted from BURSA. There are two phases of shoplots that were launched and abandoned. One was up to superstructure. I was lucky that mine only reaches piling (I think) and then it was abandoned.

They tried to pay the owners back in the early 2000s but their proposal was objected by some creditors. Then it all went silence until now.

You are lucky. Developer 1st claim on buyers are upon finishing substructure works which is piling, pile cap, ground beam etc.

Simple.... cheap things not necessary good... good things definitely NOT cheap...


or


Cheap things not necessary not good
good things not necessary expensive
there are your own perception
1 mil for 1 location is cheap for one but not another, worth for one and not worth for another.
ultimately its your judgement and far sight of it.

Hi Edyek, well, I wouldn't say he is lucky if the bank is not letting him go, and he is not able to settle / pay up the loan. Especially if he is still paying the interest after all these years.

Unless the bank has let him go off.

[quote=property user,Nov 5 2010, 05:39 PM]
[quote=furryfluffy,Nov 5 2010, 11:18 AM]
if im not mistaken, rasah kemayan already has the building superstructure up. the shape is there but it was abandoned during the 1998 crisis

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Added on November 5, 2010, 11:20 am
The developer is Kemayan. It is already delisted from BURSA. There are two phases of shoplots that were launched and abandoned. One was up to superstructure. I was lucky that mine only reaches piling (I think) and then it was abandoned.

They tried to pay the owners back in the early 2000s but their proposal was objected by some creditors. Then it all went silence until now.

[/quote]

Then : this matter should now be in the Hands of the Abandoned Unit Division of the Housing Ministry. The ball is in their hands now to find a white knight to takeover the project. That's how the system goes.

Hold-on tightly to your S&P, put a caveat on that land so that nobody can just come in and take over the land silently and launch their own project, just like what YTL did in Sentul.

If a white knight does come in, then your S&P will prove that you are one of the owners.

The paper that you are holding carries more value than the scrip (in the olden days) of a delisted share counter.

which area ur house is?

I am in JB.

Some of my property price increase due to Malaysians working in Singapore.
Rentals are also going up.

Most of yoki reply is not in JB. Which he lacks the credibility to comment JB.