QUOTE(mini orchard @ Jul 23 2020, 06:20 PM)
My understanding ..
Those are without APDL approval or pending. So the extension part wasnt given out at all in the first place.
I think the developer took the risk of selling ahead pending approval. They hope to get it within a year. By then then it should be around 24/36 months.
Even some sold pending APDL having 24/36 months, but they dont stamp the SnP until the approval is obtained.
QUOTE(kochin @ Jul 24 2020, 09:31 AM)
i could be wrong but here goes.
there are 2 scenarios.
scenario 1.
developer apply to relevant authorities to extend VP date. upon approval they proceed to sell the unit with the agreed extension. i.e 42, 48 months.
as they obtained the approval prior to launch, sellers are also informed from date of purchase. no contest.
scenario 2.
developer apply for extension AFTER launching. in some cases developer got the extension and try to force it upon the purchasers. it was challenged by the purchasers and the purchasers successfully won their case. an go google.
https://www.theedgemarkets.com/article/cour...na-condo-buyersback to scenario 1, there are cases currently being reviewed on legality of extension in the first place. some are of the opinion that a schedule g or h shall not be modified in any circumstances and thus any extension is deemed invalid irregardless. if the developer needs more time, they can do a headstart and sell later. but of course without revenue of purchaser, cost will just continue to go up with these new trend of super tall highrises that cannot be completed in 36 months.
so from conclusion, scenario 2 can be challenged and scenario 1 is still valid for the time being.
hope this is of assistance?
That's why I am confused. After reading the case and asking around, that case made a lot of the SPAs very tricky now. Apparently the person that signed for the extensions have no power to do so and the things he did was considered... "not legal?" after the case because it's not under his powers to change anything under the HDA.