I called to arrange to do inspection of my unit, but earliest slot they could give was next week Friday. Finally managed to arrange to come just to collect key (without inspection) next Monday. Anyone collecting this week?

Ya, Block A & B handover same time.

I took my key today, no time to inspect thoroughly but looks good without any obvious defects.

Collected my keys already

Haven't done thorough inspection yet but finishing looks good and I don't expect much defects.

Lobby photos have already been posted earlier, I'd like to share photos of the pool deck:

Any visitors have to register with security to get an access card to get to the lift.

Owner owner's access cards can access to the facilities area.

This view should be taken from Block A unit 17 if I'm not mistaken ya?

Fraser Residence running as a hotel/serviced apartment with rate of around RM300++ onwards per night.

I was at the handover office this afternoon, were you there taking your keys around 230pm?

Faizul Ridzuan is gathering names for bulk reno package.

The kitchen hood provided is together with ducting out to balcony, not the cheap filter type



Kitchen cabinet doors and drawers with soft-close mechanism.

Received my LAD cheque of a few hundred ringgit.

Wonder if correct or not. Anyone have any idea what's the right way to count?

Mine only 8 days. If I had known will have extra Angpow to collect at the end I would have signed SPA much earlier

Still pending the CCC which they told us hopefully can get by end of this month or early next month.

Defect rectification in progress, they have already started touching up some of the defects I reported last last week.

Visited the place this morning and saw a very pretty european lady working out in the gym =)

Wonder where I can also get a tenant like that

News on the revival of the Ex-Grand Duta Hyatt:



http://www.theedgeproperty.com/my/content/...-may-be-revived

http://www.epbt.gov.my/osc/Proj1_Info.cfm?Name=596908&S=S

Hope this eyesore will finally be revived. The other 3 "problem" old developments nearby have already been revived, this would be last one to be settled.

Finished fully furnishing my studio unit and passed to agent to market yesterday. Just received offer today at RM2k inclusive washer dryer.

:-)

There is no GST on the loan amount. You can refer to the Customs Dept Guide on Commercial Banking ( http://gst.customs.gov.my/en/rg/SiteAssets...uary%202014.pdf )



From the FAQ section, it is also clearly stated that there is no GST on the repayment, no GST on the interest charged, and no GST on any penalty charges. Bank will only collect GST on other fees or services charged.

You can also refer to the FAQ section of the Guide

When you purchase a commercial property from DEVELOPER, you are subject to GST because:
- The Developer is in the "business" of supplying Commercial Property units, and
- The Developer is a GST registered entity supplying a product that is subject to GST

The 6% GST is charged on the purchase price, not the loan amount, and has nothing to do with the loan. The tax collected based on the amount collect on progressive payments made to the developer.

When you purchase a commercial property from the secondary market, the sale may or may not be subject to GST. The sale will be subject to GST only If the seller is:
- A property trader in the business of buying and selling properties
- A GST registered entity

Please seek the advise of a professional tax consultant before making any decision. However after attending a few GST Seminars relating to real estate, the professional speakers have advised that Commercial Property transactions in the secondary market will only be subject to GST if the Seller is a "Property Trader" and a GST registered entity.

I don't get the logic of your first question. Why would there be any benefit for the buyer in paying GST on the purchase?

For the 2nd question its a no. There is no choice, the seller either has to collect or doesn't have to collect. Refer below:

While there are still aspects on GST that are not yet 100% clear, there are also items that have been cleared up. Many rulings, guides, clarifications have already been published on the Customs website. Those who need information should always refer to professional tax consultants or industry experts who have kept abreast with these updates. If one were to rely on unqualified opinions from laypersons, then one would easily be confused.

Asking on online forums is usually one of the worst sources of information. Many people like posting unsubstantiated information and hearsay pretending to be experts.

I myself do not claim to be an expert. However I have taken the time to learn about the subject and whenever possible will share the source of the information so others can explore further and verify if needed.

From the http://gst.customs.gov.my website:



Based on the above, as long as you don't sell more than 2 commercial properties, or more than 1 acre of commercial land within a 12 month period, you don't have to collect GST from your buyer.

AND even if you do sell more than 2 commercial properties, but you can justify to Customs that "there is no intention of making a supply", then you do not have to collect GST from your buyer.

I know for a fact that quite a number of banks give 85% MOF for commercial property loan including MBB, RHB, PBB, UOB & CIMB.

I also I know for a fact that CIMB gives up to 30 years tenure for commercial property loan. Not sure about others as I have yet to apply from them.

Any Summer Suites owners here received DBKL Assessment Statement yet?

Why don't you let us know the price range you have in mind?

If attractive, I'm sure many owners will PM you.

70% overall sounds a bit too good, but if 70% for studios, I think possible =)