u don't need rm50k as initial deposit, u only need guts... dev is giving discount with only RM 8k needed for booking... if u can get 90% loan, the 8k will be refunded to u after first loan release from bank, wow!!! with DIBS, RM 8k as entry point, BBB la...

should be tak ada... just checked with valuer, they said very over price... but taking into consideration, RM 550 psf up doesnt come with bare unit only, but the most high end condo development in Cheras, u make the call...

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Added on July 24, 2012, 11:59 pmFrom Cheras-Kajang highway, take the Mahkota Cheras and Cheras Perdana exit... then at he traffic light turn right... go all the way straight and after u pass by the 1st traffic light, u'll see petronas on your left, then reach 2nd traffic light, all the way straight until u reach the T junction, from here u turn left... keep to your right lane, then at the second junction, turn right, then all the way straight...

The project site/ show unit/ sales gallery just next to a newly completed Apartment by Yu Wang... go there during weekend, SDB staff will treat u like a king, serve u with F&B... wakakaka

This post has been edited by poorchinaman: Jul 24 2012, 11:59 PM

the smallest unit comes with built up area of 916 sq ft from RM 530k up before discount... after discount, psf price is about RM 520 up, this is the most expensive condo in Cheras... but taking into consideration of SDB brand who is a premier & branded developer, the price looks ok...

based on the absolute price after discount (forget about the built up), ie. RM 477k, still the cheapest compared with those landed 2 storey linked house nearby (BTHO, Alam Damai, Damai Perdana, CP, etc)... Hence people will still buy it for own stay as it comes with full condo facilities, extremely tight security system, serene & tranquil environment with 'fantabulous' landscape planning... Guess this project will attract the professional/ medium income group of Gen-Y buyers who always want 'lifestyle', ada gaya, mutu dan keunggulan... As to qualify for a 90% loan (based on 40 yrs tenure), your monthly gross income must be at least RM 6.5k (provided u don't have much commitment)... so u make the call on your quality of your neighborhood...

RM 8k, whoever also afford to fork out, but question is, can u get the loan or not? After BN implementation of responsible lending guidelines, FIs will underwrite your loan based on nett income, u do the maths...

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Added on July 25, 2012, 12:25 amFor the bigger unit, ie. 16xx sq ft up, the absolute price is about RM 830k onwards, u need a minimum monthly gross income of RM 10k to qualify for 90% financing... u can expect the potential buyers group for the larger unit... with the prudent lending practise by FIs, sorry to say that u need to have a very good credit background to be part of the buyers for bigger units, hence my opinion is, unlikely there will be bulk number of loan foreclosure after 3 years...

SDB has set a new benchmark in Cheras for condominium prices... if u're confident enough with your repayment capability after 3 years and u've planned wise financially, this is an ok project to invest, especially the smallest unit, ie. 916 sq ft...

Once completed, don't be greedy, but if u can sell/ let go at RM 580k (compared with current pp of RM 530k and nett pp at RM 477k after discount), u'll still make a handsome return of at least RM 80k after minus off all the incidental cost(RPGT, REA commission, legal fee to redeem loan, etc)... RM 0 for RM 80k... u do the maths...

This post has been edited by poorchinaman: Jul 25 2012, 12:25 AM

There will be tones, but with such planning, landscape, exclusivity, density, SDB WOTP will be first of its kind.

more than 30% sold for Block C as of yesterday evening... today should reach 50%, hopefully... my friend bought a unit for own stay

peri-peri, please be realistic, i really want to know which bank can offer 500k loan based on a person gross income at rm3.5k... if that person sign a statutory declaration that he wont eat & drink & will fully contribute his monthly income to pay installment also, none of the banks will entertain...

please let me know if there's really a bank existing to lend based on such requirement...

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Added on July 30, 2012, 11:56 pmperi-peri, i wondering if u really know about the project or if u've really been to the sales gallery to find out more about the project. FYI, all the legal fees, stamp duty and disbursement are ALL BORN by developer, provided u use back the SPA lawyer as loan solicitor and panel bank of SDB.

For under construction loan, borrowers only need to service the loan interest and nothing on the principal UNLESS they opt to. for this WOTP case, I don't see any reasons/logic for the purchasers to pay the principal during construction since the interest during construction is FULLY taken care by SDB. Unless you feel unsafe even your money being locked in MILO tin..

Please conduct some fact findings to make this discussion more healthy.

This post has been edited by poorchinaman: Jul 30 2012, 11:56 PM

Peri-peri bro LEFT out the important word 'NETT INCOME' just now, he was referring RM 3.5k to nett income wo. let's wait for him to inform us which banks can offer 500k loan to someone with 3.5k gross/NETT INCOME.

[quote=peri peri,Jul 31 2012, 12:30 AM]
Yeah, last 3 months im also sceptical with this like u on this. Yup, as clarified by most of the forumers here and with my bankers recently on a home loan i applied, is a yes! True good too be true. But dont be mislead, its not gross, its based on nett. As long the installement is not more than 70% of ur nett income. Panel normally provide this. U should check out the g residence, which banks? I believe plenty out there eager for more young and bold loan slaves. Its a business anyway.

Regarding the DIBS, 1st time im hearing the buyer no need to install the principle progressively according to billing. Imagine, u apply loan, developer claim the billing periodically from ur bank, once billing stage disburse by bank to developer, bank will start bill the developer for loan interest, then, bank will bill the principle to who? Bank will wait everything to be complete and all loan amt disbursed to developer then start counting? Too good to be true right?

As i said b4, price still steep for me to vest. But i still congrats to all new owners here. With such price tag, im delighted it will further boost my gain on paper for a condo that i booked recently which is nearby.

World is fast changing and must alert with any possible hidden cost, thats why we share to discuss and learn. Listen does helps improve


Peri-peri, let's talk fact & don't twist the story left or right. Our friend just now mentioned that, u don't have to pay ANYTHING until u get the VP from SDB after 3 years, which I think is damn true, and nothing out from the truth. We are not talking about principal repayment AFTER 3 years when we get the VP, we are talking about during construction period, we don't have to pay a single cent to BANK.

Bank will of course bill the principal to the purchasers, but do we need to really pay back to the banks DURING CONSTRUCTION PERIOD IF THERE IS A DIBS? As I said, unless u feel unsafe to even hide your money in MILO tin, else, there are much better things to do with the PRINCIPAL REPAYMENT DURING CONSTRUCTION PERIOD.

Give me a big YES if anyone of you out there agree, thanks....

Peri-peri, let's talk fact & don't twist the story left or right. Our friend just now mentioned that, u don't have to pay ANYTHING until u get the VP from SDB after 3 years, which I think is damn true, and nothing out from the truth. We are not talking about principal repayment AFTER 3 years when we get the VP, we are talking about during construction period, we don't have to pay a single cent to BANK.

Bank will of course bill the principal to the purchasers, but do we need to really pay back to the banks DURING CONSTRUCTION PERIOD IF THERE IS A DIBS? As I said, unless u feel unsafe to even hide your money in MILO tin, else, there are much better things to do with the PRINCIPAL REPAYMENT DURING CONSTRUCTION PERIOD.

Give me a big YES if anyone of you out there agree, thanks....

agree, SP Setia is only the developer to revive such long disappear scheme in Malaysia... Peri-peri has learned a good lesson here... As he said, LISTEN DOES HELPS IMPROVE... But I'll say 'listen helps to improve'...

the actual fact is MBB HQ pulled back the end financing for this project temporary, until issues resolved. probably due to:
1. DIBS
2. Booking of units without AP from developer yet
3. Block C is actually low-medium cost apartment which the max SPA price suppose to be RM 100k only. But SDB separate the SPA into 2 parts, ie. RM 100k for basic unit, another RM 400k++ for all the so called upgrading...

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Added on August 4, 2012, 7:07 pmThat is only the excuse used by MBB to comfort the purchasers temporary, I went there last 2 weeks before launching, HLB was there too but last week only MBB. Guess there are a few unsolved issues between developer and bankers, in terms of DIBS, project pricing assessment (over price?), low-medium cost apartment signed in 2 different prices in SPA for Block C and etc...

But have been assured by developer AM that no issues at all... Hopefully everything goes well, else our money will koyak...

This post has been edited by poorchinaman: Aug 4 2012, 07:07 PM

Good buy. But now I started to worry as even MBB also pull out from the financing of Block C temporary. MBB officer said due to pricing issue, but I guess it's due to middle cost apartment SPA signed with RM 400k 'upgrade' prices, even local authority also wondering how to approve it la... Reliable source from valuer and banker ascertained this... Even the AM and Head of Sales also personally admitted it will be signed at RM 100k basic, and the balance RM 400k++ as upgrade...