Definitely not viable. This is what happens when developer has not enough or no money to pay main cons or biz partners. They tend to contra off with unsold properties.

Profit sharing is the norm in this kinda situation.

6 SD = 6xRM500k = RM3mil
18T + 2C = 18xRM350k + 2xRM400k = RM6.3mil + RM0.8mil = RM7.1mil
Total = RM10.1mil

RM10.1mil/RM33.3mil = 30.6%
damn good deal wei!
normally land owners gets approx 15%-30% dependent on the land, and its status and its zoning and its restriction, etc.

but be careful about treatment of taxes!

Yeah landowner should just take money and ciao.

then u have to remind him on the GST part.

Agree this is a great deal, just take the deal!

Alternatively, there's an option to take cash also - not the whole RM10.1 mil lah, maybe RM2 mil cash + RM8.1 mil worth of assets?

Peri gor.., you got any on running projects at Melacca? Mind to share about the foreigner consent's stuff? As one of my client pull hand brake because cant submit consent as their project is high rise without strata title yet, hence bank cant release payment for foreigner buyer. Any jalan to settle this issue??   

Threshold is definitely. Its rm500k capping for high rise residential at Malacca. The main issue with Malacca project now is the foreigner consent part. The authority there would only accept the application of consent together with either strata or individual title. So, new project would definitely facing this issue especially if the target buyer is foreigner because bank cant disburse the loan without foreigner consent. Anyhow, we've just found some solution for that. 

Why Not.. here is the platform to share and learn together! 

The recent changes to Strata Titles Act 1985 which enforced towards all the new development to hand over VP together with strata title helps in this case.

Based on the latest amendment, developer is required to:-

(a)               apply for the certificate of proposed strata plan to the Director of Survey within three (3) months from the date of issuance of the document that certifies the super structure stage (applicable to the case where the sale and purchase agreement of any parcel that takes place and the document that certifies the super structure stage is issued after the commencement of the Strata Titles (Amendment) Act 2013); and

(b)               apply for subdivision of building or land within one (1) month from the date of issuance of the certificate of proposed strata plan.

So, With proper followup in the midst of the application, the strata title can be issue within 4 to 6 months. Depends on how the developer liaise with the authority.. 

So, with the issuance of strata title, then the issue of foreigner consent would be solved and no further issue for bank to disburse the loan. Anyhow, this scenario is not applicable to all the case. Its applicable to the case of my client as their foreigner buyer able to purchase with 50% cash so the margin of loan they need is only about 50%. Hence, during the stages of super structure which is normally about 30% of the progress, the developer can start to apply for the issuance of strata title already. So, the timing is around there which can match the disbursement of the other 50% loan from bank.

hi bro, you mean if you received 10mil value prop, gov will charge 6% GST, thus you get developer to pay? 

please include me in your update if you have a clear answer in future   thanks