My friend's boss wants to resell his shop lot there for around rm 3.5 million once the development is ready.
Any chance the developer gonna widen the access road?
And the surrounding place and roads looks distraught with all these kampong motorcyclists running all over the place.
Hopefully the Selangor Government can do some things to improve the neighbouring outlook.
Is it worth investing here?
Seems pretty good price still

This post has been edited by gee2: Sep 1 2014, 02:18 PM

Last week I received a notification letter dated 24th September 2014 informing me that Glomac Kristal has received approval to extend the date of vacant possession from 36 to 42 months. Now we're supposed to sign a supplementary agreement to comply with authority requirements.

To be honest, I visit the site at least once a month to view the progress as I have one unit condo there. And I've already expected a delay as it took extremely long for the foundation to be completed. I'm no property expert, but one year for the foundation should definitely be a sign of delay.

This was confirmed when I received an update that the developer has requested for payment for the first 10% completion as per SPA schedule.

So back to the original intention of this post, I do NOT want to sign any agreement agreeing to receive the delay in Vacant Possession as it is my right to receive it within 36 months. I have yet to see the supplementary agreement, but is anyone there like me?

We have rights to be compensated for delay!

I will go home today and check the LAD within my SPA and also the Loan Agreement terms to ensure I will receive sufficient compensation for any interest charged and cost of housing caused by the delay.

http://www.thestar.com.my/Business/Busines...-late-delivery/

I also want to warn you, since the SPA is done by Glomac's 'Panel Lawyer', they most likely will not work in your favor to get the compensation you are due. Afterall, they have some handshake agreement to become part of Glomac's panel.

So learn about your rights as a home buyer. Put your SPA lawyers to your tasks. Remember, they are supposed to be YOUR lawyer. Not some minion for the developer.

I have told my lawyer that I will sign no such agreement until they explain to me what rights for compensation I have.

There is no sure thing in life except death.

Kampung Pantai was a desolate kampung area before it became Bangsar South. And it made sense in hindsight because in the no.1 rule of property investment is location. And Bangsar South's location between PJ and KL is awesome.

So regarding Glomac Centro, you have to decide if the location is good enough for you. If you like the location, then buy. If not, then dont.

Also, you have imagine a bit further into the future because as I've mention in the post above, there is a delay in vacant possession. LOL!

Good luck

One last thing, can any other sifu's or lawyers out there can advise us or at least share with us what we can do??

do they still have units for sale?
i thought i saw some banners on release of final units?

I'm not sure. The signboards are still there but I havent stepped into the sales office in a while.

Yes, I received same letter as well. Called up Ministry of Housing, and the officer replied that it our rights not to sign the supplementary agreement.

My SPA lawyers are Ahmad Fahmi and Nor. And they didnt do anything except call me to arrange to sign supplementary agreement. I've already told them to explain exactly what compensation I'm getting. After that the Legal Assitant just said the lawyer will contact me. They have not acted in my interest thus far, and I'll be very interested to hear what my supposed lawyer is going to tell me.

I will not sign any bullshit until I get a satisfactory reply.

Let's keep this thread alive and see what we can do to ensure our interests are protected!

This post has been edited by rockstar81: Oct 1 2014, 07:21 PM

Yes, i think so.

https://www.facebook.com/groups/135037420007241/

FB group

Thanks! Joined already

Glomac did stated before that they won't be widening the road into Glomac Centro.

I got confirmation from developer stating

"There are no changes to the terms of DIBs. With the extension of SPA date, the DIBs follows.

This means, we shall continue to bear the interest during constructions as per the offer to purchase letter. Up until issuance of notice of vacant possession or 3 months after the (new) SPA date."

I have this in email writing and will keep this as evidence.

Hi Bro, suggest that you contact the National Houebuyers Association for advice

info@hba.org.my

Since i have received a reply from their senior management that DIBS will be in effect until handover of VP, i will not pursue this issue further.

I will keep the correspondence if promises arent fulfilled.

Who buy this property will be regret after completed. Traffic Jam, Narrow Road, lot of Foreigners, Car parks side by side on the road. Surrounded by Majority Malay Resident followed by Indian and Indonesian.

Once completed, this project is going to be a goldmine.

There is a possibility that the extension of the BU MRT line will pass near this Centro Glomac if it does not pass Centrepoint.

http://www.thestar.com.my/Business/Busines...lang/?style=biz

http://www.kinibiz.com/wp-content/uploads/...-map-170714.jpg

I personally feels that majority of d buyers wouldn't regret as the problems mentioned are oredi there before the project started.
By d way I m one of d purchasers.

This post has been edited by yschaw: Dec 3 2014, 08:29 PM

Good job, bro

my take is that we may agree to the extension of time but we may not necessarily agree to waiving our rights to LAD.

I forsee the developer not fulfilling their obligation to complete the kitchen cabinets as promised or use this as an excuse to delay delivery or as a pre condition of waiving the LAD, probably because its not stated in the SPA. Or, the developer would handover without the "extras" and only start doing the cabinets after CCC because every day delay is thousands of ringgit cost to them.