Are you saying these retirees weren't aware they need to fork out extra for new units and they didn't take this into consideration?

Most if not all retirees are reluctant to move out of home of many years. There must be more than monetary reasons to give up.

This post has been edited by icemanfx: Apr 10 2019, 08:14 PM

"Are you saying these retirees weren't aware they need to fork out extra for new units and they didn't take this into consideration?"

Are you really such a coconut head and stupid? The retirees,many who bought high rises in the 80s and 90s and now under pressure to sell their units by the majority are the ones who refuse to sell because they cant afford to buy new units unlike the others!
Think before you open your mouth!
Its people like you who cant think logically and rationally who are the ones who are inconsiderate of others who cause a lot of social problems because of greed and blind stupidity!
How many retirees you know can afford to pay RPGT to sell their homes and use retirement savings to buy a new house?If you were a 30 year ol wage earner and knowing you will have to buy another house with retirement savings in future,will you buy a house now.
Think,thats why we are born with brains!

Rampai court is over 30 years old. How many retirees among the owners?

Since you are adamant, have you seek legal advice like applying for high court injunction, caveat, etc?

This post has been edited by icemanfx: Apr 11 2019, 05:27 AM

So in conclusion I want to advise ALL Malaysians to :

1) Reject and oppose the bill to be proposed by the new FT minister that
empowers the majority to overule the minority when it comes to selling of the development for redevelopment
Stick to the old rule that there must be 100 % consent.Dont assume that the PH gomen can be fully trusted,the reason why there is a fT ministry is to guarantee that malays will be protected and eventually dominate all urban areas.
2) Accept compulsory redevelopment only if buildings are over 60 years,in a bad state of repair and unfit for human habitation.This has already happened in the case of Highland Towers.
3) Reject all proposals for redevelopment by potential developers big and small,the agreements will be too full of pitfalls as the Developers are only interested in making money.Like all Landowners,when it is necessary to abandon the housing scheme,sell off the land outright for cash instead of any JV and get a totally risk free reward.Accept compensation only if the amount is enough to buy a new house which costs a minimum rm400k.Remember you have to pay RPGT when you sell your house under the new law.
4) Learn from the case of RCP1 where a group of retired residents opposed the scheme although harassed by the majority and managed to save everyones interests because the project would have failed and be abandoned in today's environment with a housing glut,40 % unsold units and no loans even for a rm300k Rumah WIP.
RCP 2 was lucky in that we managed to get rid of the crooks behind the scam in our AGm and saved ourselves
from losing our underwear.We will probably sell the land outright when the time comes.

Dont listen to unethical businessmen out to make a fast buck.Ask them how they can underwrite and guarantee
customers from outright loss when things fail.Remember insurance premiums and guarantees are subject to renewal every year.Better still ask DBKL to indemnify home owners against all losses if they are adamant in redeveloping projects just because crooked Developers say so.

Since you are adamant, have you seek legal advice like applying for high court injunction, caveat, etc?"
Are you really that clueless and stupid? Do you know how to use an injunction and caveat?
All one has to do under current laws to prevent compulsory takeover by a Developer and their conspirators is to refuse to sign the JV agreement and not to surrender your strata title.
Under new proposed law everyone has to sign the agreement and surrender their land titles if the majority says so.Will land office entertain a caveat against the law or the court grant an injunction against an act against the law?
Not only are you ignorant of the law and very narrow minded and unethical,you need a psychiatrist to cure you from your evil mind.

To avoid such thing from hapoening and play safe, buy a freehold property if possible,

FH or LH, any high-rise properties are bound to face this sooner or later. And when this law (Link 1 and Link 2) gets the go-ahead, then one have to be prepared for it.

Those who move out/upgrade after 10 or 20 years of staying there won't have to face this headache. But for those who are forced to move out because 70% - 80% of their neighbours voted yes for the redevelopment (assuming that compensation and what not are agreed by then), then just accept it and find a similar property with the compensation money given by the developer.

For Freehold the compensation would be harsher compared to LH where the property is counted based on the remaining years

heard about rampai court 1 will be taken for redevelopment few years back. Last time for Wangsa Maju Sec2 certains block were proposed for take over by developers too. BUt it does not go thru that time. Many rejected.

Wow that is simply wonderful! Then rich Developers who find they have no more projects can mop up
all the low cost housing by buying up 70 % of the units and redevelop them into condos!there will be no more low cost housing left as all of them have to be redeveloped to unlock their land values.
Then the developer can desert the affected people if their project gets stuck when there are no sales and the JV will be in limbo and the suckers who entered the JV will have no place to go with no Housing Development Act to protect them!Then the average wage earner will not have anymore affordable rentable units to rent in the city!
but actually this 70 % rule is targeted at the Kampung Baru commercial redevelopment where land owners have got very greedy.Its just that the new FT minister did not engage his brain when making this statement and made himself worse than Tengku Adnan!
It is one thing to redevelop for profit,there must also be a balanced social policy to ensure everyone can afford a house.
But we have rm100b worth of unsold property,remember?

It is a wonderful thing the current property surplus and overhang of rm100b of unsold property ,lets hope that it remains for decades and that consumers will benefit and crippling greedy developers from exploiting it and turning it into a market for speculation,instead of sticking to its original purpose,ie.providing homes and sustainable development.The rich are already rich,its time to turn our economy into one that meets the needs of consumers instead of making the rich richer!Say yes to ethics and good social policy!