hi.. anyone here buying under construction house/apt?

i buy one.. and feel like my apt not to be completed within the time..it supposed to be completed by this july, but the construction seems like been halted for nearly 3 month (starting this year)..
so..

1.how do you check the progress of the construction beside the claim notification from architect ? it halt at 65% progress claim now..

2. if the construction delay from expected completion date .. do i entitle any LAD?

3. how long do I have to pay the interest to bank if the developer failed to complete the construction at all??

4. and the most important thing..what should I do (beside praying to GOD that the construction can be completed..)

1. Go and check with the developer.

2. Yes, you're entitle for a LAD claim. However, I got 1 friend who bought in Sunway that the developer ask him to waive the LAD, otherwise no money to complete the project.

3. If the construction is abandoned, you still have to pay the bank. Sad, but bank is always protecting their interest first and doesn't give a damn about the borrower.

4. My advise is to try to sell off the property cheap, if you believe there is no hope that it will complete. Normally, people would avoid under construction property.

1. Go and check with the developer. But normally, if the developer like talam, u hardly talk to anybody.

2. Yes, you're entitle for a LAD claim, but u need check your S&P first. Some or most will write in the clause, LAD claims after Vacant Posession, which mean, if the aprtment never complete, u'll never get the money.

3. If the construction is abandoned, you still have to pay the bank. I guess, u are currently paying the interest. But if your apt is more than 60% built, whether it is abandoned or delay, the bank will want u to pay the principle already, because the interest that u are paying now, could be near the principle payment.

4. You can contact the developer first and check with the status. If really no hope of completing, go to KPKT (Housing ministry) and file complain. Then, be ready to pay your loan and there's nothing u can do about the loan. If no hope, then pay the loan principle until finish. Selling it is a very good choice, BUT, for sure nobody want lar....

its so sad huh...
my fren is still paying her interest after 7years her housing project got abandoned...
quite scary also buying uncompleted properties.

This post has been edited by mIssfROGY: Apr 5 2007, 11:14 PM

Merge Holding (contractor Juta Permai) at Subang 2.. it Damai Apartment.. since i'm staying just at kota damansara.. i always go there to look the progress (from far view).. however, the development of the surrounding area seem in good shape (double storey house) only my apartment seems stall a bit..(3-4 month i think)..

but worried me is that. i bought this house in 2005 it already 2 years.. n i getting married this august..n i thought that i can go to my new house after i married..

Depends on your S&P - those modified S&P has got loop holes to allow the developer to escape paying you your LAD. It ususally applies to those services aprtments and condos that have commercial title.

Continue to service your loan principal until forever... actually if the project abandoned you're screwed. If you got money start servicing the loan until you no longer owe the bank money...

Not much it's not up to you... you can only collect LAD and pester the developer!



When is it due for completion...?

Anyway there are reasons why projects tend to stop for months at a time sometimes its due to worker issues, delay in materials... or stop work order... you'll have to inquire with the developer.

BTW if the surrounding area is by the same developer it can happen when they reassign their work force to finish other projects first and will get back to your apartment at a later stage.

This post has been edited by aaronpang: Apr 6 2007, 12:39 PM

bUt sometimes the bank would not allow u to start servicing the principal 1st...must see your bank loan agreement regarding this. Like mine, project also been delayed like more than half year oredi (thank god nearly complete). but when i wanna start paying my principal, the bank would not allow me Every month i only can service the interest alone....its killing me...

Next time will neva buy any uncompleted properties oredi...its soo dem scary! Even projects from reputable companies can stall...

This post has been edited by mIssfROGY: Apr 6 2007, 05:10 PM

that true.. that most probably the cause.. stop to give way to other project to start.. and the completion date is on july 2007.. 3 month to go.. yet don't think it gonna complete on time..

perhaps, certain people might said.. it too early to worry.. but.. i burn neraly quater of my monthly income to pay the interest..

by the way.. thanks for the prompt reply.. i'm going to the developer office next week..

Is this your first time buying property?

Banks really makan consumers when it comes to housing loan... to be honest I see no point in purchasing property thats not ready built and servicing the loan for nothing in return!

Just to share my personal buying experience. I waited for the housing project to complete and purchased a fully completed house from the developer at launch price developer didn't even markup the purchase price... because of competition in Puchong and the soft property market.

End of the day I saved a bundle on my loan and still got a completed house at the same price as those who purchased units much earlier before construction.

I fully support the government to adopt the build and sell concept! not like now where they sell then build (or abandon)

Wish you all the best, and hopefully the developer will have a good answer for you!

Cheers!

ya man...1st timer....tats y keep hitting the wAlls...too excited and naive....but now I KNOW liaoz...

just return from out station..
called them
extend another 1 year..
should they sent us any letter regarding that extension?
damn.. the house lool almost completed..

which project oh?

ok..

it is apartment at subang 2 (Damai Apartment) under merge housing (Contractor has been change from Juta Permai to Permain only recently)

now i want to know the ext step

as the developer already declare unofficially that the project delay.. should i received OR i ask them to provide me the letter for the extension of time.

the actually completion should be end of july 2007 and has been extend perhaps (PERHARPS) on July 2008.

advice me.. pls

---

Added on January 3, 2008, 2:57 pmUpdate on this issue...

our action group are going to have press conference :
date : 5 Jan 2008
Location : Balairaya Taman Mayang PJ
Time : 10am

we already invite the following to come:
Minister it self (no way he will come)
State exco - Dato' Mokhtar Dahlan (also MP for that area)
Local Authorities
Gov agency i.e tribunal, etc
rep from all news paper and mass media..
developer and the contractor
Bankers..

just added info:-
on august 07, we have a meeting with local authorities, state exco rep, developer and bankers including few gov agencies.. from the minutes of meeting.. the apartment should be completed by this Dec07. it has been agreed by all parties that to follow every decision made in the minutes..

but until today.. nothing has been done.. now i wonder.. who actually got more power.. Goverment? local state exco? or DEVELOPER..

if u would like to come.. to support us.. please do so..

MERGE HOUSING also messing around with other property..

This post has been edited by ganz: Jan 3 2008, 02:57 PM

hai ganz,
me also buy that house laa but miss the conference@5 jan 2008, no info get. So is there any conference next or other action i wan 2 join laa. Email:zychol@streamyx.com

Hi. I also bought a unit of apartment at pinggiran subang which called (damai apartment). I will be going to Kementerian dan Perumahan on Friday 20/06/2008 to get the clear picture of wat is happening. Anything pls email me alex.tanfg@gmail.com . thank you

just for update information..
on 29 August 2008 (FRIDAY).. there will be a meeting with ADUN Kota Damansara at 530pm at Merge Housing Office..

please come

I'm also a 'victim' who bought the abandon house, Damai Apartment at Subang 2...I just find out about this group...and about the meeting on 29th Aug 08 meeting as well.. Hope can keep me updated about this issue... If there's another group for this committee pls add my add nfabloom@yahoo.com[FONT=Courier][COLOR=blue]..thanx

Hi, I am also another victim from this Damai Apartment project. I know there is a small group formed by some owners. My husband's name already in the member list but myself is not actively involve with it.

I aware there is a meeting not long ago, but the answer I got is "Nothing much"
If you are free to update all the meeting/event detail in this forum, it is very much appreciated.

Is there any news or progress?

Thanks

I am also a victim of this Merge Housing (Juta Permai).
They have been delaying the projects and nothing has been done.
I have complained to Kementerian Perumahan dan Kerajaan Tempatan on numerous occassions, wrote more than 5 letters to complain. Each time the reply I received from Kementerian was the case has been referred to the developer.
Why is Singapore free from all these late or abandoned projects? It is because the authorities there are strict in granting license. They will check thoroughly and approved license to those qualified developer.
Really dissapointed with 1st class facilities/infrastructure but 3rd or 4th class mentality and control.

Can someone help us??

our action group planned to lodge a police report few weeks back,, however, i was unable to attend (was plan to lodge the report at Subang Jaya SS15)

House buyer,, just imagine.. how come that bad developer still running their business.. and furthermore.. how come they still able to secure more and more projects..

i already come to conclusion.. u need a master degree to purchase the house nowadays..