Don't be overawed with the booking status, in today's market, bookings with no firmed commitments (deposit of 5k and above) would have less than 10% conversion rate.

In any event, the new laws NOW allow a purchaser to recoup 100% of the booking fee, and developers are not allowed to charge admin fee or any fee under whichever name in the event that the purchaser does not wish to proceed with his purchase.

Regulation 11(2) of the HOUSING DEVELOPMENT (CONTROL AND LICENSING) REGULATIONS 1989

"No housing developer shall collect any payment by whatever name called except as prescribed by the contract of sale."

This means that the developer cannot forfeit any of you booking fee, for whatever reasons (administrative fee or service fee whatever) in the event that you do not wish to proceed to sign the sale and purchase agreement (even if you already have the letter of offer from the bank and the developer is aware of this).

So, you can actually place any deposit for a property with a developer and walk away whenever you want and get full refund.

This only applies to residential properties.

RM0.00 Own The ERA @ Duta North frm RM375,900.You're invited to official launch 15/4/17.
1st 50 purchasers are entitled for special rate.Call 1700818081 *T&C apply

Received this SMS.

Someone got to ask them not to use "Duta", might as well use "KLCC North"?

This post has been edited by intoxicat: Apr 12 2017, 12:32 PM

Read these 2 reports below :-

http://www.theedgeproperty.com.my/content/...ection-jkg-land

http://www.starproperty.my/index.php/artic...-at-duta-north/

The interesting thing was, in The Edge article back in November, 2016, it was stated that the 277,000 sf retail would be retained by the developer. Similar statement was missing in The Star article.

Of course the developer may still have the intention to retain the retail and open a shopping mall.

If I am a purchaser of this project, I will want to know :-

- what is the developer intention with regards to the 277k retail space?

- if the developer wants to retain and open a shopping mall, do they have the expertise to manage a shopping mall?

- is that location suitable for a 277k shopping mall?

- what if the developer subsequently disposes off the retail portion and the tenant mix becomes uncontrollable?

Promises are empty, unless can be reduced to something in black and white.