Hello all,

I’m thinking to invest TR Rsidences. Just made a call to the developer and being informed only larger units left.

However, my friends just shared me a link and asked me to consider again. I just learnt that they locked one of the buyers in jail ?! And the quality of saville@the park condo is really terrible tbh. A picture speaks thousand words. Do you guys really have confident in quality that they delivered ? Kindly enlighten. Thanks !

This post has been edited by C1902: Jan 24 2018, 08:23 PM

Ooo .... The defect that showing in the pictures & video is poops floating in the washroom. This kind of defect is way too much for consumer to bear. what if you're the residents who're just happened to buy a unit there? can you accept this kind of defect? The pictures and video are from a FB page which is created by a lady whom they locked her in a jail at the moment after she created a big whoa. forgot her names:Tanya ..?

Conclusion: Malaysia is bolehland, money is the king.



Back to the early birds pricing, the smallest unit is 500k net. how about the cost for largest unit, 850?

Op

This post has been edited by C1902: Jan 25 2018, 09:33 AM

she has created a FB page: are malaysia consumers stupid? and it went viral. You can see residents there are commented in her page as well. FYI, she bought 1.4 millions so called luxury saville@the park condo, Bangsar.. that kind of defect is way too much for consumer to bear .. imaging you’re seeing poos floating on your washroom whenever your neighbours doing “business” upstairs 😓Pictures and videos can be found on that page.

My friends has followed her page prior to her imprisonment. Effed up developer and the whole justice system.

Even if the location is good but you have issues like Saville @the Park residents, .. then ?

Quality is questionable plus earlier post mentioned about leasehold is up to 68 years as per now. Hopefully there’s a black n white back up in the contract. I hope all the buyers of this project have better luck ! Cheers

This TR pricing is not cheap at all given current lease for this land only lasts for 66 years. Even though MKH mentioned it’ll be renewed prior to completion but Do take note that it’s SUBJECTED TO AUTHORITY APPROVAL.

If renewal of the land failed, TR ownerS will have hard time to release the unit back to the market since buyer has difficulty to secure bank loan ( for sure ) unless the potential buyers are cash rich.

This post has been edited by C1902: Apr 6 2018, 04:15 AM

MKH committed renewal in the letter does not guarantee 100% since it’s subjected to authority approval as mentioned.
the fact now it is 66 years.

This is one of the risks that buyers need to take. The pricing of TRR is definitely not cheap. with current on-going sale, the largest unit costs around 650k and above (after rebate) is definitely not worth the price even everyone here is emphasized on location. 650k for 66 years ? You do the calculations

This post has been edited by C1902: Apr 6 2018, 01:33 PM

I’m highlighting the risks if the land lease never get to renew as promised. The msg is for those who’s keen in this project ( yet to buy)

1) Do you think the lease land can be renewed so many years in advance before its official expiry date 😏. Initially the developer kept this info under wrap. Why ?😏 the info leaked out from buyers ( bank loans have been rejected ) therefore, MKH got no choice but issued an letter by emphasizing they’ll submit the renewal application but it’s STILL SUBJECTED TO AUTHORITY APPROVAL.

1) hard to get the buyers since they have no way to secure bank loan (for sure) .... the investors might need to hold the unit forever.

For everyone reference ..

“THE LAWS STATE…
In Malaysia, land laws are governed by the National Land Code 1965 (Act 56 of 1965). In Section 40 of the National Land Code, 1965, it mentions that all state land belongs to the state authority. Leasehold land belongs to the state and therefore, conceptually, when you purchase a property tied to a lease, you are only buying the right to live there. You will not own the land or any building/s on it, and you are only allowed to reside there for the stipulated timeframe.

WHEN THE LEASE EXPIRES…
When a lease reaches its end, the land is reverted back to the state authority, including any construction on it. Therefore, in order to continue residing on it, the 'owner' will need to either apply for a renewal of the lease before its expiry, or in a situation where the lease has already expired, apply for a fresh alienation.
Consent from state authorities (Land Office) may be required before any extension or renewal of a lease can go through. Although it is uncommon, the state has the right to deny approval of extensions and renewals.

In the case where the owner does not renew the lease and lets it expire, the land will be reverted back to the state government and be available to any other person who would like to apply for ownership.

ITS MARKETABILITY…
Property valuers say that the value of a leasehold property typically goes down when the lease period is coming to an end. The reason for this is because there may be complications related to the lease renewal and in obtaining a bank loan. This affects the property's marketability.

Most property consultant's note that the value of 99-year leasehold properties as well as freeholds ones tend to go up at around the same level for about the first 30 years. After this 30-year period, the value of leasehold properties stagnate and eventually depreciate until the lease expires. Freehold properties on the other hand, go through a more stable growth, provided all other aspects of the property are in good condition.

Sources from financial institutions explain that most banks can confidently lend on leasehold properties, provided they have at least 75 years left on the lease. “

Just to keep everyone updated, no harm right 😉

TRR is one of them. Item#15.

https://www.edgeprop.my/content/1331912/kep...-dbkl-land-sale

Kepong MP Lim Lip Eng has lodged a report with the Malaysian Anti-Corruption Commission (MACC) today to investigate 64 parcels of land sold by Kuala Lumpur City Hall (DBKL) under the purview of the former Federal Territories minister Datuk Seri Tengku Adnan Tengku Mansor from 2013 to 2018.

Can it be renewed to 99 years before VPed under new government ? Noone knows now.

This post has been edited by C1902: May 31 2018, 06:12 AM

No. The lease yet to be renewed. Till now no black and white. My friend keep asking and MKH said need to follow the rule of law since it’s under new government!

This post has been edited by C1902: May 31 2018, 09:48 AM

Are you bluffing ?
My friend. No. The land is confirmed not renewed yet.

This post has been edited by C1902: May 31 2018, 10:04 AM

Just show the black and white here as you claimed then

MKH guys hv no way to prove since this land is not even renewed. Since you mentioned you heard the land already been renewed, prove to everyone then

This post has been edited by C1902: May 31 2018, 11:46 AM

Exactly. That Neoyo advised that he heard from MKH staffs that the land already been renewed to 99 years before GE. No black n white so far.

However, My friend agent told him no renewal is done yet. it depends on the rule of law under new government

This post has been edited by C1902: May 31 2018, 12:17 PM