In general prop is no longer investible. Especially from developers. Unless you do not mind to hold long term 10-15years. Of course if one of the structural change such as political and economic reform, high influx of FDI and high skilled/knowledge workers etc. If Malaysia employers still aim for cheap labor for competitiveness, this is structural issue which of course has long term detrimental impact on property market

Of course... Alway can pok another bull and hyper inflation as cost push.

All the best investors in your own gamelan

May turn out to be like Dorset Subang where no progress due to the ongoing court issue.

Not sure why PV is rushing to preview this project under lockdown.

This post has been edited by gks: Jun 22 2021, 05:10 PM

By 2025 the supplies will not subside here.

Do not forget Jakel, Sunrise and Spsetia have big land here and easily can flood the area with at least 30k housing.

Nevertheless, Mira has margin of safety versus existing undercon projects and further down the Jalan Cheras but inferior location. But to make good money like 2008-12...not possible.

From my observation, legal case and delay are separate issue.

In scenario 1 if they win the legal case, the work will proceed and if PV delay in delivery VP, they will have to pay out LAD as stipulated in SPA.

In scenario 2, where they lose the legal case, PV may abort the development and cancel the SPA. Obviously some interest incurred, dependings on construction progress and status.

Question should be asked by prospect buyers whether would they willing to risk on scenario 2 given Platinum Mira sold 35% below Lavile, UNA SVTwo and do not forget it is a freehold unlike UNA and SVtwo.

It is a question of calculative risks. For a start, PV never abandoned a project. They already proceed with the works despite the ongoing legal issue.

In my view, the risk is paying the progress interest while the legal issue is still not cleared. If the project aborted, that's the cost that buyers may absorb if PV didn't pay out compensation.

Nowadays under SIFUS developers no longer can simply change the design after submission and APDL obtained.

Similar to rest of all Under construction properties, workmanship and quality is always a concern. Not just PV projects. They have started the construction and not waiting for court outcome. Furthermore, they have 54 months to finish the work. PV always deliver their projects in advance and i think buyers will prefer that rather than hoping for LAD.

This is bad advice because you should keep repayment irrespective for situation of the properties.

I think SA is pretty upfront about the legal issue and any potential buyers should take this into account before putting their hard earned money into the project.

In nutshell, this project is not for beginner or newbie investors. Only for seasoned investors.

You are mixing all issues in single concoction. All are separate issues.

PV proceed with their construction, it only fair when hit certain progress they bill the purchasers accordingly.

At least the SA i spoke to, he clearly highlighted all risks and issues inclusive in the event PV lost the case, they maybe forced to abort the project.

This project at this stage definitely not for newbies. they shouldn't take this kind of risk as well. To be honest, there are quite a lot of good projects and it is not necessarily for them to buy this project.

Anyone can sue and be sued. You may not aware that some developers are being sued as well. Just few that became viral.

To be honest, PV is not obliged to disclose their internal matter...but they did disclose that at least to anyone who interested to place booking.

Irrespective of the legal, our contract stipulate if they delay beyond the SPA completion date, they have to pay LAD. Whether legal issue, contractors absconded, they have to deal with it internally....and not to buyers concern as long as they deliver the VP...

Empire Damansara is completed and based on developer price, dun think buyers have much to complain about, investment wise.

The issue in this case because DBKL 2040 plan is not gazetted.

Local authority can change, modify the land usage as they wish and if they seem appropriate.

Anyone that interested should pay visit to sales gallery, not getting clarification via forum.

Though forum is a great platform to get opinion for its 1 cent worth.

The corridor width is never re-designed. Since 3-4 years ago it is always 5 ft.

Seems a lot of forumners here have personal agenda.

It is a good guide over 2-3years and as aptly pointed out it is not updated on regular basis and rely on developers.

Most I believe in booking status. Some just book and wait and see. The best is to see the conversion in 6-12 months. For sure there will be dropouts.

In some projects, the underwriters underwrite the units and pay fee to developers. it is very easy to spot these projects. if you approach agency A, B, C etc each of them have different units available but the developer sales gallery most units already stickered.

Type C is the best layout in Mira. Surprise not well taken up. Price point probably beyond most purchases comfortable with. Once the legal issue has more visibility, I believe most of these will be taken up by own stayers.

So many dogs barking at wrong tree...

it is not the developer issue but DBKL who indiscriminately convert the land usage... If it is not PV who developing Mira, it maybe another developer.

Hopefully all Malurians vote wisely in GE15. In fact Malaysians...

My 2 cents, this project from the beginning is not for new buyers for obvious reasons i.e. legal issues which can be prolonged with uncertainty outcome. Agents just a salesman and it is their job to sell. As a buyer, we need to perform own due diligence. A simple google Platinum Mira will revealed the plenty of platforms highlighted the legal issue. Simple put, those buyers who missed other opportunities, regret the purchase or unaware of the legal issue which may caused the project to prolonged or worse aborted, should take some responsibilities themselves.

As for seasoned investors, they have own gameplan irrespectively the project will go ahead or aborted.

As a responsible developer, they should be more transparent with the cloud surrounding the the court case. Granted not all within their control as court is compelling DBKL to purchase the land back and DBKL may disagree and decided to bring to Federal Court.

But the developer should issue an official letters to all buyers with their next course of actions. Some buyers may no longer want to proceed with the purchase for their own reasons and developer should respect their wishes by refund at cost with no questions asked.

For other buyers who do not mind to join the ride, with higher risk always come higher reward....

In the interest of residents, developer, DBKL and purchasers, hopefully Federal Court will give priority and close the chapter once and for all. If tracked from the first SOC, this case dragged from 2017.