Boss I am as confused as you are, but I am just trying to find an explanation for the "confusing" clause.

Maybe, it's just maybe, IOI trying to clarify that one cannot claim any liquidated ( monetary ) damages for the period starting from the booking till the starting date of SPA, ie construction period only starts from the SPA date.

Which is something people already know. But maybe IOI is trying to make it clearer to buyers. But by do so, more people are confused ?

haha, i have the same question also. ".....beginning from the date of this letter and ending on the date of the Agreement" means from now till the day u sign the SPA? No LAD in this period, right?

I am assuming "the Agreement" referring to the SPA. Correct arr? Anyway, when letter is read in full content, it could mean otherwise.

Anw, agree with Kochin, developer can ask u to sign letter to waive ur right for LAD claims in this manner, but that doesnt stop purchaser from claiming their LAD in Tribunal.

Boss, I think the LAD is calculated from the date the developer is supposed to hand over the prop till the date they actually hand over the prop right? For example, SPA signed on 1/1/14 and developer should hand over prop in 3 years time ie on 31/12/16. So if developer hand over the prop 1 month later on 31/1/17, the LAD is calculated based on 1 month late delivery.

However, this Clause is talking about date of the letter to SPA date???

As I mention early, I bought almost 4 properties from IOI and sign the same letter what you sign. As I also asking them last time about this clause. So, you should read the clause together with the clause before:

Clause Before : In the event and notwithstanding that an extension of time may given at your absolute discretion to execute the SPA, I/we agree for the SPA to be dated on the last day of the Grace Period (as stated in the Sales Form) regardless of the actual date of the SPA is signed) - YOU ASKING EXTENSION TO SIGN SPA

Clause After : In consideration of you acceding to my/our above request, I/we agree to waive my/our right to claim for liquidated damages for late delivery, if applicable, in respect of the period beginning from the date of this letter and ending on the date of Agreement. - IOI AGREED ON THE EXTENSION AT YOUR RISK CAN'T CLAIM LAD

What that mean : In actual coz you are asking the extension of signing SPA, the number of date you can't claim for LAD is from the BOOKING DATE until the DATE WHEN YOU SIGNING SPA. That is the meaning of that clause friend. LAD still run after that.

Sample : Booking Date 1/7/2014. And you should sign SPA within 14 days but you asking further extension until 30/7/2014. So the date you signing SPA is 30/7/2014. Therefore there are 30 days you can't claim the LAD (if any) due to your request.

This post has been edited by mes23: Jul 1 2014, 02:33 PM

thnx for the clarification mes23, however the way they worded it is very confusing. i thought LAD is for late delivery of said property? how is it possible that the property would be completed within the stated extension period?

Ayyyah..Small matter only..share share what I knew. We are only layman who lay 'golden egg' to buy properties but the letter drafted by the people with LLB (Hons) at the back of their name.

VP should be calculated from the SPA date. But now due to our request to extend the date of SPA, IOI agreed at our expenses that LAD should be calculated from the last dated that we asking for extension. It 'fair' business in both parties. Only we are not clear even the lawyer is self.

This post has been edited by mes23: Jul 1 2014, 02:44 PM

ahhhh... understood understood. i agree that's the fair scenario la, cant expect them to pay LAD even though i asked for extension. ok thnx again! to everyone else, sorry for the false alarm

cheapest is close to 800k for condo
can buy meh?
this kind of pricing probably deserves a place like mont kiara etc.
here is only puchong
location not much different from all other condos along ldp from ioi mall until bandar puteri
buy medium cost apartment and dump in 200K renovation probably still less than 800K but looks luxury

This post has been edited by ibbrio: Jul 1 2014, 05:39 PM

with crazy pricing within a short time we see all condos in puchong at RM 1million. so many millionaire out there to feed the bank interests meh?

true
there are so many foreigners in puchong
look at the old shop lots
you can instantly feel this is not malaysia but in 3rd world countries
when you compare with usj you can instantly feel there is class difference
also puchong is considered as over supply
everything you can get in puchong so those continue to build integrated concept will find it hard to attract tenants to come except another mamak, nrmal cafe, etc. which most likely cannot last long except mamak because it provides the basic

I think these foreign workers will slowly move away after the construction jobs are done. Looking at the available lands, it's most likely will push to the direction of cyber jaya/putra jaya/SKVE. It's growing pain I think.

Agreed with you...slowly they all follow the moment of development toward south...except the "guy from far far away land" ...the guy who can print money haaaaa

The construction workers are not the biggest problem.

It's the Pak H. which is what most people are bothered.

Furthermore if the migration theory holds, Puchong being a big area, it will be at least 10 more years before you see distinct effect of migration on Puchong outlook.

not really construction workers alone
there are those already set up their life in puchong
those having family
those running operate food stalls
you can see almost majority of food stalls operate by foreign workers
so unless immigration comes again to check else you can feel we live in 3rd world country
bandar puchong jaya plenty and pusat bandar puchong
i am sure other puchong areas many too

PH a lot in setiawalk drinking and play snooker
where their money comes from? mix with local ladies too

They print 'greenback' bro!

wow
think we should learn it too

As far as I know there are quite a number of shops in pusat bandar puchong and bandar puteri which managed to survive because of the PH buying liquor from them.

Otherwise, these shops will have to be closed or doing other businesses.

Mes23 your statement are correct! Initially i was shocked after see all the info in forum, but after checked with developer & read carefully the letter again, it was the statement which quote by mes23... So everyone don't get misleading info in forum . If you really want to know more, please walk in developer office to know more & not just keep post and get wrong info from forum... I'm not intend to point anyone, but least try to responsible for your statement & to be fair to all the purchasers or developer. just for sharing...