Hi,
Just want to seek advice here. I bought 1 studio unit from Developer. The key hang over was delayed over a period of 5 months. I called to ask about the compensation which is LAD. LAD is calculated based on :

(Purchase Price x 8% x No.Days Delayed) / 365 Days.

The S&P stated Purchase Price will be used as calculation. However this developer seems to play foul on buyer. They informed us now that the LAD will be calculated based on Discounted Price ( Which is lower ). It has breached the agreement specifying Purchase Price which is without Discount. I informed the person in charge from the Developer and they informed me it's the management decision. Please advice us what action can i take ? Can i directly sue them ? Thanks for the feedback

Which project of MCT? Their Cyberjaya The Place project will also be late. I must learn from u.

It's The Place Cyberjaya. Really screwed up developer.

MCT can argue saying that they've already issued u a Credit Note for the discount previously, which had effectively reduced your Purchase Price. They are not wrong entirely as well.

Unless u got no discount previously, then u can fight. Good luck bro.

Bro, is the dev willing to pay full 5 mths late charges based on discount price ?

If it is, then I advise u to take it. Else, legal process delay longer and u have to pay legal charges and the processing period also unable to get the key while paying the full bank installments. Not advantage as a buyer.

Btw, I feel its fair if they give LPI based on discounted price since that was the actual purchase price. If it reflected into the S&P, then all purchasers kenot pay 2% and enjoy 8% disc while obtained 90% loan dy.

I tot u hint on ur first post that dev mentioned the LAD calculated based on nett S&P price, so I assume the dev is willing to pay LAD but now dev not willing to pay?

Btw, I nvr claim u r at fault leh. Doubt my statement said so.

+1

unless the amount runs into tens of thousands, i would nt fight this case.. as boss chris mention, this case might take a long time n cost involving high legal fees.. im quite sure, the only guy who will walk out of this happier would be the lawyer =).

If prop is 500k (before rebate), then u will get RM15.3k using their method.
if using the snp method, then u will get RM16.6k..

Overall difference only 1.3k. legal fees duno how much.. good luck

Tribunal got people take call one ? So nice.

Wah...I had purchased MCT another property ->  the place one city in 2012 with DIBS, signed SNP on Jun 2012.

So if they can't handover the keys by June2015, I can claim this also? My SNP also written with purchased price not discounted price.

Is it after 3 years, the DIBS will be automatically cancel even thought they haven't handover key to us? They won't pay interest on behalf of us anymore? I have to pay myself and claim this LAD? tq

I suggest you listen to the advise of the seniors here and just take the discounted price to save you time and agony unless u feel that a few 1-2k more is worth your time going to tribunal.

have you been to tribunal in the first place? If no, please check out Amara Service Residence case with the developer.

The developer initially kept quiet about LAD, then owner ask about it, offer 50% off, then 70%.

Not happy, go tribunal fight 100%, some judge not consistent, some award SNP date, some award booking date, some award discounted price.

Keep it short, it depends on the judge. If the judge is crazy, he might award you from your booking date instead of SNP instead.

If you get some fucked up judge, they just award you the discounted price.

You think you're the only one who pays interest after DIBS expired?