Are you guys sure you read the clauses correctly ?

Maybe they are referring to the interest bearing scheme or something like that ?

I remember their skypod interest bearing scheme has a expiry to it, meaning if the project is delayed, then they won't bear the interest due to project delay beyond a specific 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 claim the LAD (if any) due to your request.

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. 

How's the sales progress so far? Does the developer offer any package??

newspaper claimed 60% sold wa...sure or not

To those owners, care to share which panel bank offers the best rate, best flexi plan and maybe discounts on their loan legal fees? Thanks a lot.

Used to love the juxtaposition of the warm wall colour and cool blue glass, it looked very sophisticated to me. Then, they painted parts of the fin blue and it looked just mediocre now.