Received a call from devoleper last few weeks and asked to prepare the next 10% payment and to verify our hand phone are contactable....anyway, please get the works done first, we are always ready to pay.....

your is block A or B? anyway, is good that developer starts to bill..

I didn't not receive any calls nor letter to informs the bills

me too...

I just realized never received S&P and Bank loan agreement.

Monday will call to the law firm - CL Pxn and xxxxxx

Anyone of you?

i think u had lot properties.. haha...
btw, my law firm is Oxg & pxrtne..

Huh? Not la, I am just small Potato...

I still remember signed SnP at the site Melati and then went to Klang (from Kl to Klang) for Developer panel Law firm.

Subsequently, no news and non follow up from them...

Sounds like a cash buyer.

Does not mean much actually.

Got a few times of false alert already on the next payment schedule.

If you go to the site, you can still see quite a number of piles lying on the ground. Not sure how long does it take for all the piles to be driven into the ground.

Unless those are extra/redundant piles ......

According to fren who had checked with the uncle whom believed to be main-con on the site the other day,

the slow progress due to the followings:-

1) Soil is too soft, more pilings are required than normal site....
2) The earlier pilings for abandoned shop-lots weren't sufficient, they have redo............
3) They have to stop work at 5pm sharp, as there's some complaints lodged by the residents nearby.....

Noted that's only one piling machine crane there which is really inadequate to cope the speed and fight with stipulated completion time-frame..........

but there's progress................better than nothing..................

Let's do some calculation.

Late interest charge, say = 10 % per annum
Let say it is late for 3 months,
Average property value, say 400,000
Total number of units = 412


10/100 * 3/12 * 400,000 * 412 = 4.12 million.

Is my calculation anything wrong ?

tmc boss, is that too early to calculate penalty interest??

completion of the building within stipulated timeframe is more important than anything else for every purchaser...........

I am just trying to highlight that it's a significant amount of money. If machinery is the bottleneck, it will be in the best interest of the developer to bring in more machinery to complete the job earlier than to "drag" the construction. I believe they should be at least a few months behind the stipulated schedule already.

When is the target vp date? And how much is the estimated progress at site now?

The S&P agreements were dated in multiple batches, I believe the first batch would be about 1 year already. As the standard agreement requires developer to VP after 36 months from SPA date, and since 1 year has passed, it would mean the developer have 2 more years to VP to the first batch buyer, and perhaps additional 1, 2 or 3 months for SPA dated subsequently.

Progress ? The developer hasn't even performed the first draw down yet, ie the work below the ground has not completed.

Based on these info, please determine for yourself to see how far it is behind the schedule.

what happen to the Land? This piece of Land if not 3 times, at least 2 times it had already other developer launched twice proj before but turned down after all

This post has been edited by ecin: Aug 12 2013, 02:55 PM

Hopefully they can complete the project within the timeline

tmc boss, what else can we do as purchasers than praying hard for the project to be completed.........??

think it was kinda expected when everyone inked their sales and purchase agreement..........

as i know, beside the land, DBKL also another issue. a lots of thing delay due to DBKL.

whats problem?