put in this way.. if the investment so good and said got 8% return... not andaman dun sapu all the unit and become landlord and then form a Realty company and public listed it... think twice of the GRR... there must be monthly liability the owner need to bear... no free lunch in this world.

YOu have to check the credit rating of your brother. If those banks are panel bank, they would have already evaluated and approved the project. So in that case, it will not be the bank having no confidence in the project...

Most of the property also need you to find the tenant yourself (or indirectly via agent).....it is just that this one at least guarantee rental for a few years.

YOu are very sure the price will increase upon complete but afraid it will become stagnant ? I dont know your concern actually....that is part of the risk right in any investment....if you dont think it increase after that, then sell it off after that....simple.

all the while it has been very common to have moderate price increase especially for condo.....slow increase.....but it is just that the past 2 years had been very phenomenal....so, dont expect everyday is sunday....

Thanks sampool and spyderman for your input

Indeed very good replied!
Try to look at a bigger photo, don't just be so narrow and make the conclusion by either yourself or minority parties.

Regarding this:

my brother booked a unit in block A and his loan was rejected by Affin bank.
He also tried to apply to many other banks but they denied his application. Why?
I'm not sure but some SAs say its because they have no confidence in the developer. True?

the SA you mentioned, i supposed is the bankers. True or not, you have to find out either by yourself or your brother.
Please check with the bank, for what are the reason they denied his application.
If out of 8 banks, they came back with an answer stating that they do not have confidence in the developer, the project, then this developer basically is going down, and the project will be dismissed in a very short time.
But if the project is still undergoing, and people still be able to purchase through developer, there are only few reason:
1. Your brother financial statement might not strong enough.
2. The bank quota is full.

There are some reason that the bank do not tide up the project, or used to but no longer, reason might be because of the policy change in between the bank and the developer.

And for those banker out there, who can simply said, "oh our bank have no confidence in the developer", if that is the real case, ok no problem. But if there is because of another reason, and yet the banker use this as a reason of rejection, then please quit your job before you get sue.

This post has been edited by clanzkiller: Nov 4 2011, 03:55 PM

Since we are in this topic of this developer i need to highlight my plight so that when others read this please be careful.

This developer owes me my rental for Casa subang behind Menara summit and didnt pay me.

The tenancy agreement states 1st June 2008 but they rented out my unit 3 months ahead without any notice to me. i found out when i inspected the unit and demanded that i be paid that 3 months ( Mar to May) hence they paid me sometime mid June 2008.

I just sold the apartments (2 units) and they hold back my last 3 months rental saying that they already paid me in advance the 3 months which i received in june 2008.

There is no provision in the agreement for them to rent my unit earlier and not paying me for it. Just imagine if 40 units then they earned 120 months rental of RM2000 per month. so many owners doesnt know that theuir unit has been rented out otherwise who in the right mind will pay you 3 months advance rental payment. for me that is 6 months rental since i have 2 units.

Be very careful with guaranteed rental scheme. the agreement is in favour of the developer at all times.

1.0 you cannot terminate the agreement if you opt for the GRR
2.0 developer can terminate by default if they dont pay you for 3 months in rental arrears
3.0 they will charge you 3 months in advance for internal maintenance of your property during your renewal which is very high. (Arc residence)
4.0 check out their finishing. quality is poor considering the cost you pay.
5.0 the furnishing cost - RM55K per apartment is what they are charging. your interior contractor will tell you it probabaly will cost aprox RM20K for such quality and based on the nos of unit. ( project quantity)

At the end of the day there is no Guarantee as they have so many ways to exit from this 25 years GRR.

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Added on November 21, 2011, 3:51 pmguys i have the same problem. i just posted below earlier. nightmare for me!!

This post has been edited by scubaleesk: Nov 21 2011, 03:51 PM

Saw this at klcc
Block b, c, d still available
Worth to go in? People still buying. Too few staff

Tempting

wahhh, so long still they sell ? aiyah very simple, if it is really that good, with GUARANTEED RENTAL, do you think they still need to do hard sell until now ? Seriously, with that kind of price ( RM 400K ), not worth it at all....maybe a lot of investors will buy lah, that's why you see STILL many people are buying, for all you know many people are surrending their units at the back

when a property is more than rm300K, you must always be careful....it's true that investing in property will earn you more money, but never also overlook the possibility of getting loss. and last but not list, always, always, always, always do a background check on their directors and also all their past projects. dont always think if you dont buy, other people will buy and you felt at loss. Instead think, is this property really that good ? trust me, it's better to miss an opportunity to buy a cheap property than to get trapped in buying an "expensive" property. I dont think any developer will say honest things about their development, all will say this say that....may sound impressive, but the more impressive it sounds, the more careful you have to be! Always remember also, developer WILL NEVER give you FREE THINGS

it's all part of marketing gimmick.

This post has been edited by shaquenator: Nov 27 2011, 09:41 PM

Hi, I am new here in this forum.
anymore update for this Andaman and ARC?

I feel so worry now after reading thru all the posts as I just bought a unit in last month.

I should search more info before buying this ARC.....

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Added on December 11, 2011, 11:06 pmAny complain from Cova Villa or Cova Suites about the quality of the building and the GRR ?


This post has been edited by guchemk: Dec 11 2011, 11:06 PM

Building quality actually so so, not consider bad nor good ......

Not detail enough..... they can give you free aircond with no conceal .....

carpark ramp bit small ..... bad design....design wise still need improvement ...

GRR so far heard late only......

As long as you buy at lower price, do not expect too high .......they may cut cost and save the "grand lobby" .....end up they deliver small lobby after huge complaints flooding to them .... so, make sure they deliver whatever inside the brouchure ....

I watch the tv adv "Cadbury dairy milk" ...seems like shot at Cova villa.... can someone confirm?

Thanks for the info.
But ARC price is not considered cheap already, it is almost RM 400/sqf,
others project in Cyberjaya average price only RM 330/sqf.

Actually, this ARC location is good, and this project can give Andaman a good reputation if he did good in ARC for his future development in Cyberjaya.
Now worry its quality and also worry how much it worth once it finished its building.

Anyway, I called up Andaman, they said block A is sold out, B and C still some units available, block D still got 50% not sold.
Already long time it launched but still not be able to sold out.....if for others developer like Sunway, YTL, IJM, I am sure we got to queue when it launched.

May I know how much it cost now for Cova Villa? Is it big difference in price compared in Y2009 ?

This post has been edited by guchemk: Dec 14 2011, 07:37 AM

I said this before and I am saying again.
AVOID ANDAMAN PROJECTS AT ALL COST

in fact, you should put AVOID ANY PROPERTY THAT IS MORE THAN RM 300 K !!!

How? why? Do you understand what you said?
Sound very stupid if you meant what you said, but hopefully you are just joking

well, if it sounds stupid, why bother to even reply me

Cova launch I see rm260k

You are right. My miskake, should't replied to stupidity

Thanks Cova for highlighting this.
I had read up some threads/news pertaining to Andaman aka Meda Bhd.
Based on the report, it seems like, they are quite "foxy", sucking dry Meda and create another entity ie Andaman to expand their business.
Earlier i thought of this Arc project for investment but now need to dig more info about their reliability as well as integrity.
Kudos to you for sharing up.

true, but since you have replied to shaq, that makes you more stupid. sorry no offense, it's just it takes one to know one.

This post has been edited by sakura888: Dec 21 2011, 12:36 PM

yes, beware of this developer.

LOL

it's just it takes one to know one. >>> so true, I didnt even say anything he already comment, guess he must have people said him stupid before lah.