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 ?

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 ?

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.

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

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.

KL, I am sorry to hear all these. A kid would know who will benefit the most if a fire brings down the carpark structure.

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

KL, thank you. I'm afraid I cannot fully-agree with your first statement, being : it is the developer's duty to apply for subdivision of the land during construction, and then to perform the MOT for the purchasers. Of course, some will be faster and many others will be very slow.

If your construction progress has managed to reach the carpark structure, then I was hoping there was at least a subdivided title : strata title for each original purchaser. If even this is not available, then there is nothing to claim at all.

The only available document of title here is the S&P. Still an S&P could be strong enough,....

Saujana Puchong was a terribly delayed project, and the developer is still 'holding on' to the property at the expense of the victims (purchasers). Lots of things are not completed yet.

Be careful of the houses here !

Developer : Saujana Puchong Sdn Bhd, a subsidiary company of TALAM again. Who else ??????????????????

This post has been edited by Hansel: Jan 27 2011, 12:21 PM

The conmen are now selling their properties using agents, and hiding behind the agents. The Ministry of Housing awarded them the licence to develop again. I wonder what was the rationale in this ?

Purely corruption, I suppose. Or that TS has donated quite a big sum to THE political party. These problems in Malaysia will never end.

That's what I said and meant : it will never end, unless you have other reasons why are all these unfortunate things happening to Malaysians, then perhaps or hopefully it's something not related to : will never end, then we can take some actions to mitigate.

Otherwise, these 'never-ending things' can end if we don't buy properties anymore.

Okay - agreed on that part : consumers have the power and consumers always lose, it is this very fact that is feeding the unending problems that we talked about earlier.

Your synonym : asking people not to eat rice, you are right again.

I'll extend this statement further - look beyond the horizon, there are better things to eat outside there.