in the last 3 months i have purchased a lot in the new phase 3 development project by Platinum victory in the Danau platinum lake city. started in 2005 phase 1 and the platinum walk is completed and sold off to people.
in progress is the platinum Mandrin, a Parkson megamall a tesco and 2 more housing phases.

i purchased the unit at rm252000 and its selling price now is about rm272000. as i am just a fresh grad i am currently earning around 3.5k a month and i have saved up to 25k in the bank.

but with the recent recession and talks that the BLR will increase to 12% scares me to cancel my booking of the lot.
Plus the increase in steel, cement and Fuel will further give doubt that platinum victory development will ever get to finish the project and will face financial dilema's. and also the controversy surrounding the piece of land that was given instant approval from DBKL will raise eye brows and the MP of wangsa maju mr Wee Choo Keong is currently looking into the matter.

this might mean that when completed in 2011 the CF might not even be approved and i am stuck with a home that i cannot live in.

any advice ?? should i drop the purchase or do i still continue with it because the estimate resale value when the entire lake city is completed will be rm300k-400k for my unit.

and every project by platinum victory has a good track record of its property appreciating 50-60% in a short ammount of time (pv5 from 170k 3 yrs back to 300k now)

havent sign the s&p yet.

i just did the booking only

i know about the that thread and i think the fella with fernandes avatar is just pissed because everyone who bought a platinum victory property is very happy with what they get and they get about almost 100% resale value.

my main concern is that the area that it is currently developing in has a lot of controversies around it and even the wangsa maju MP YB Wee Choo Keong is trying to dig out why did DBKL approve the land so easily for Platinum victory to develop on. Plus the many housing projects in wangsa maju would make it too congested. and the existing infrastructure will not be able to support its growth.

went to wangsa metroview didnt like the place. cause the only available units are facing the mosque.

Plaza prima dont like it cause left and right very jammed.

same goes for prima setapak 1 and 2

melati utama damn overpriced if it was 5-10 yrs ago might consider it.

so now stuck with the danau lake city. quite ok la the place..

but there is another place in melawati called 3resident by sime darby. sure expensive gila one

jammed gila la but what to do. cheapest housing project that is quite ok and with good future investment is phase 3 of the platinum victory already. aih.... i saw the prima setapak 2 and its like so damn ulu.... dont like it at all.

dude rm270k for an ulu place prima setapak 2 i would think twice before buying. the roads are OMFG and the outside link road is also OMFG. neways maybe they will expand the outside road or a new link be made to other access roads., but i did not like prima setapak 2.

but this is only my opinion. sorry if i offend anyone hahahaha

hmm most of their projects were excellent but then it wont hurt to be extra cautious.... neways that plot of land has some dispute with the govt where the approval for the development by DBKL was questionable and as YB wee choo keong said that wangsa maju's infrastructure could not hold anymore residence.

Scared they ciomplete the project then CF is not issued. habis l;a.