Regarding the 99 year leasehold issue, is it possible for the developer to state it on the SPA ?

Regarding the 99 year leasehold issue, is it possible for the developer to state it on the SPA ?

Regarding the 99 year leasehold issue, is it possible for the developer to state it on the SPA ?

Can someone clarify with their lawyers on :

under the new strata title act, developer is required to renew back the lease to 99 upon completion.

Anyone got any lawyer friends??

I have a case where, the developer is giving additional 5% discount but we must accept the unit we bought will be bumi allocation.

In the future, if we would like to sell this unit gonna be troublesome as not much buyer are bumi.

We believe we should entitle for the discount and the developer shouldnt push us to accept the bumi allocation (or entitle as a bumi unit).

1 malaysia, those non-bumi no offence please

Developer has confirmed in writing that the lease will be renewed when they apply for strata title. Copy of letter should be making its way over to the sales team and buyers will be able to view it for comfort and confidence, soon enough.

It pays to buy from established and reputable developers, who will take the time and effort to address concerns as and when they arise.

Okie. I got the black and white already. Letter from Hua Yang to Hartamas. I think the situation is clearer now. Thanks Choyliang for bringing up this concern.

Glad 2 hear that, at least the risk has
been eliminated! Ha! Ha!

The lease will be renewed to 99 years on completion. This is new requirement.

The pricing is actually more than just RM15K increase, depending on which unit you are comparing with. Nevertheless, it is still a good opportunity compared to alternatives in the market, in my humble opinion. Does anyone have better option to suggest based on current pricing and project details?

A new option is Arte Plus, right next to Elements. It is really not apple to apple to compare that with Sentrio but we'll do a quick comparison all the same.
Arte+ has three times the number of units, is neighbours with developments with combined total of 2,500-3,000 units. HUGE incoming supply
Arte+ is taller - 46-58 storeys
Arte+ has more limited accessibility and sharing with high density neighbour projects
Arte+ has private lift lobbies. As a result, much space is wasted and not able to be utilised as liveable space within the units. Nice to say but not very useful. Downright impractical for units of such small sizes. Further, this also means sharing just ONE lift over 46-58 floors. Waiting time is bound to be longer
Arte+ has branded architect. Great. However, for something that is meant to be an investment product and not very high end, this translates into very high costs which puts pressure on the prices. Something has to give and I imagine the quality of the items used will be lower grade.
Arte+ has taller towers but obstructed views. Sentrio faces the golf course and twin towers with very marginal possibility of anything blocking the view in future
Arte+ has no track record, as in completed product for comparison. Thus far, it has been marketing spiels and attractive packages and investor clubs driving sales.

Quick comparison points to Sentrio being advantageous but one man's meat is another's poison so it would be great to hear everyone's opinion on the same. Cheers