Puteri Harbour Community

[OracleMasia]

Teega's lawyer mentioned to me that even if we have paid for the state consent fees plus the initial down payment, once there is an increase in state consent, we will still be liable. As I need to get an insurance to cover this Malaysia property, it is better to get a insurance policy here in Singapore or in Malaysia? Anyone has any idea?

For me, I will get the coverage in Singapore with a low-cost term life policy. It is a lot cheaper than the MRTA ones offered by Malaysia banks.You can try AVIVA SAFRA or NTUC Member term life if eligible. That is the cheapest in the market.

 

[Rocker]

For me, I will get the coverage in Singapore with a low-cost term life policy. It is a lot cheaper than the MRTA ones offered by Malaysia banks.You can try AVIVA SAFRA or NTUC Member term life if eligible. That is the cheapest in the market.

Thanks! I will check the quote in Singapore then.

 

[Gladywin]

I also bought a unit in Teega and guess I was one of the last batch buyers. I signed my SPA in mid of May and so far, I still haven't received the stamped copy of SPA from my lawyer. My lawyer said the developer is yet to execute my SPA.
Just wondering for other bros and sis here, when you signed the SPA, did you write the date beside your signature?

 

[Dfiris]

Please take note that your SPAs will only be considered unconditional when state consent is issued. And RPGT dates are calculated based on unconditional SPA date.

 

[Avonup]

I also bought a unit in Teega and guess I was one of the last batch buyers. I signed my SPA in mid of May and so far, I still haven't received the stamped copy of SPA from my lawyer. My lawyer said the developer is yet to execute my SPA.
Just wondering for other bros and sis here, when you signed the SPA, did you write the date beside your signature?

In the same position. My was signed around Nov/Dec last year.

 

[Gladywin]

In the same position. My was signed around Nov/Dec last year.

Hi Avonup,

I thought I have waited long enough and never expect that there are people in the same boat with me who had the SPA signed in Nov/Dec last year. Did you ask your lawyer to rush for you?

Should have written down the date when I signed my SPA instead of leaving it blank, although not sure will that help.

 

[PropRocks]

Just got my stamped copy of S & P from the lawyer. It's dated back to when I bought it i.e. Nov 2012

 

[kopikong99]

And RPGT dates are calculated based on unconditional SPA date.

Lawyer says current RGPT applies regardless of SPA signed date, is different from what you have shared. Anyone can confirm on this as I think some lawyer just gasak because the law cannot be retrogressive and catch those who signed the SPA when the RGPT was lower.

 

[btravelling]

Yes it is hard to believe SPA is taking 8 months to get into the hands of the owners. And how the new fees can be retroactive is unbelievable, how far back retroactive will they go? My lawyer Othman says the Teega SPA hold up is with UEM and they confirmed. I understand our first 15% payment will be due end of Aug, how do they expect people to pay this with no SPA?

 

[Rocker]

马国暂不提高 外国人买房地产限制 2013年07月23日（八打灵再也讯）

马来西亚暂时不增加外国人购买房地产的限制。城市和谐、房屋及地方政府部长阿都拉曼达兰表示，马国目前只有5.5％房地产由外国人拥有，加上这些房地产只集中在柔佛等地，因此当局暂时不增加外国人购买房地产的条件。

阿都拉曼达兰接受《星洲日报》访问时说：“虽然外资经常被认为是炒楼的投机客，但马国只有5.5％房地产业主是外国人，加上目前外国人炒楼的情况还不算严重，因此当局暂时不会讨论增加外国人购买房地产的条件。”

他表示，该部目前研究的两项“打房”措施，包括两年内转售房地产的盈利税，由目前的15％调高至30％，以及规定购买第三间或以上房地产者必须承担30％至40％的首期款，不能向银行借贷。

他说：“房地部将先召集相关单位讨论和研究，然后再由内阁决定是否将上述建议纳入2014年度财政预算案。”

马国购屋者协会中文组主任陈钟灵认为，政府应恢复2007年4月1日前的房地产盈利税架构，也就是在两年内转售房地产者，需缴交30％产业盈利税。他也认为政府必须为外国人购置房地产设置更高门槛。

他指出，雪隆区尤其是巴生河流域一带的屋价，2007年起已经飙升两三倍，双层排屋一般超过百万令吉，最低也要50万令吉（约20万新元），围篱社区则需70万至80万令吉，让受薪族和中产阶级只能望楼兴叹。

他说，以往外国人购买房地产，必须获得外资委员会（FIC）批准，如今只要价格超过50万令吉的房地产，外国人就可无限量购买。他认为这种做法是过度开放。

http://www.zaobao.com.sg/sea/politic/story20130723-231493

 

[Iskandarnoob]

Yes it is hard to believe SPA is taking 8 months to get into the hands of the owners. And how the new fees can be retroactive is unbelievable, how far back retroactive will they go?

It seems rather scary hearing about the efficiency or rather the lack of it on UEM's part.. For you guys who bought Teega, you think this is something to be concerned about or would you change your mind about the purchase if you were given a chance to back out now?

 

[btravelling]

It seems rather scary hearing about the efficiency or rather the lack of it on UEM's part.. For you guys who bought Teega, you think this is something to be concerned about or would you change your mind about the purchase if you were given a chance to back out now?

Dont get me wrong, one of the best decisions of my life was investing in Teega and Puteri Harbour, this is for my personal use in retirement or earlier not only investment. And UEM is a gov supported international developer and I am not concerned that they will follow through with their promises, I am only frustrated with the speed of services and lack of information. And saying "that's Malaysia" is not going to be acceptable in the near future especially if they want to compete for Singapore investments. I get it, this is a boom no one could have imagined 4 years ago and I am sure gov offices are swamped with paperwork but UEM itself should hold itself to a higher standard and at least stay in touch, explain what is going on and reasons behind delays. Would I back out, no way and I guess that us why they dont make effort.

 

[kopikong99]

Dont get me wrong, one of the best decisions of my life was investing in Teega and Puteri Harbour, this is for my personal use in retirement or earlier not only investment. And UEM is a gov supported international developer and I am not concerned that they will follow through with their promises, I am only frustrated with the speed of services and lack of information. And saying "that's Malaysia" is not going to be acceptable in the near future especially if they want to compete for Singapore investments. I get it, this is a boom no one could have imagined 4 years ago and I am sure gov offices are swamped with paperwork but UEM itself should hold itself to a higher standard and at least stay in touch, explain what is going on and reasons behind delays. Would I back out, no way and I guess that us why they dont make effort.

Teega pricings is good relatively to the new launches when you looked al around and see the kind of pricings being pushed out by developers. The waterfront and CIQ is not something that can easily be available in most new projects and especially if buying for own use, all the more worth it.

So far, from my experience with UEM, I think they are much better than what you gonna get from other developers and also they are owned by Khazanah so more reputable and reliable than smaller developers.

I guess in a booming market where so much activity are going on at the same time, there will be bottlenecks affecting whichever project or developers.

 

[FHBH12]

Likely the delay is due to foreseeable shortage of labour and materials. If they allow owners to sign SPA, then they might need to compensate for completion delays with reference from the date of SPA. They might have already compensated quite a fair bit to owners of other projects, so they could be more cautious now. Correct me if my guess is wrong.

 

[gooddebt]

Dont get me wrong, one of the best decisions of my life was investing in Teega and Puteri Harbour, this is for my personal use in retirement or earlier not only investment. And UEM is a gov supported international developer and I am not concerned that they will follow through with their promises, I am only frustrated with the speed of services and lack of information. And saying "that's Malaysia" is not going to be acceptable in the near future especially if they want to compete for Singapore investments. I get it, this is a boom no one could have imagined 4 years ago and I am sure gov offices are swamped with paperwork but UEM itself should hold itself to a higher standard and at least stay in touch, explain what is going on and reasons behind delays. Would I back out, no way and I guess that us why they dont make effort.

yup, agree that Teega is a great project to invest in. easily the best value for money developmt in PH ! a bit of delay is still ok with me.

 

[1nottiboy]

I didn't buy Teega but into Pinetree. If I had known that Tiong Nam would be this inefficient, I wouldn't have bought into it at all. Now if they want to refund me my booking fee, I would stay far far away from MY properties and just buy an office unit in SG.

It seems rather scary hearing about the efficiency or rather the lack of it on UEM's part.. For you guys who bought Teega, you think this is something to be concerned about or would you change your mind about the purchase if you were given a chance to back out now?

 

[Valdez]

I didn't buy Teega but into Pinetree. If I had known that Tiong Nam would be this inefficient, I wouldn't have bought into it at all. Now if they want to refund me my booking fee, I would stay far far away from MY properties and just buy an office unit in SG.

I have another horrible experience recently with a listed developer. Will reveal whole story at a later date as currently consulting my lawyers on a botched sale.

 

[DCputeri]

Encorp is quite professional and efficient.

I have another horrible experience recently with a listed developer. Will reveal whole story at a later date as currently consulting my lawyers on a botched sale.

 

[Avonup]

Hi Avonup,

I thought I have waited long enough and never expect that there are people in the same boat with me who had the SPA signed in Nov/Dec last year. Did you ask your lawyer to rush for you?

Should have written down the date when I signed my SPA instead of leaving it blank, although not sure will that help.

Hi Gladywin,
I recently met 3 other Teega buyers, they were in the same boat.
I have written to the developer (about 3 weeks ago) with the support of my lawyer. Still nothing heard from them. This lawyer is very good and pro-active to help - very different from the others.
The previous lawyer I had was horrible, did not even reply to my email. Called her on the phone, never do what was agreed and I had to go to their office and sort things out.
I also have unpleasant experience with UEM Land, same thing - no reply or selective reply. Just have to be patience, I guess.

 

[Funniman]

Pinetree is the first highrise project ever undertaken by Tiong Nam. They are into logistics industry and more into building warehouses.
If you check their annual accounts, they are in the red for some years.

I didn't buy Teega but into Pinetree. If I had known that Tiong Nam would be this inefficient, I wouldn't have bought into it at all. Now if they want to refund me my booking fee, I would stay far far away from MY properties and just buy an office unit in SG.