This project still can register?

compulsory fire insurance but i only paying Rm100+

This post has been edited by tikaram: Dec 10 2018, 05:25 PM

There is no need for fire insurance when your house is not even completed yet.
During this undercon period, developer is the when who need to bear all the risk.

Fire insurance is needed for Tier 2 & Tier 3 developers, even during BICC/under con period.

Developers should buy and pay rite?

I never ever pay fire insurance during construction period

And after construction, jmb will pay and charge to owners.

Not really. It's the buyer who pays.

You mean developer built into the selling price or buyer literally need to pay cold hard cash to developer during wip period?

Actually my first time hearing such thing also.
May I know where to check for the list of Tier 2/3 developer?

buyer literally need to pay cold hard cash to developer during wip period

one quick case will be maybank charging it to all HL loans under trinity lemanja - even the SA knows about it

hence statement of FI covered by developers is not conclusive

The Chargee owns the jurisdiction. They hold a charge over a property. To be specific, a chargee is a lender of money in a loan secured against property such as banks, credit union or trust company. Just ask loan departments about developer Tiers and that's quite common to them.

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why only tier 2 n 3 developers bank will charge fire insurance?

they worried these developers wont buy their own insurance for the projects?

Purely bank policy depends on developer Tier, no much rationale for this as many tried to appeal n waive but didn't make it.

So meaning Maybank view that Trinity Group is a high risk developer so owner need to obtain own insurance during WIP period, auto subscribe by Maybank?

yes, sort of

when is the next selection

if RM115 per month is very cheap, cheaper than apartment. lolssssss

This suria pantai beside surrounding all freehold buy this rumawip leasehold. This land suppose to be freehold, not sure why rumawip become leasehold unlike kiara kasih

Hiw come this one no balcony?

Happy owner here
Applied on RUMAWIP website on 04/10/18
Submitted documents at ICE on 10/10/18
Tawaran unit status confirmed on RUMAWIP website on 04/12/18
Unit selection and sign documents 12/01/19