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Sierra Residences

Sungai Ara/ 18 September 2011 Leave a comment

Sierra Residences, an all-in-one integrated lifestyle development located along Jalan Fettes within the thriving township of Sungai Ara, Penang. A masterplanned community featuring medium and high-end condominiums and a vibrant commercial pocket in a tranquil riverside setting.

Project Name : Sierra Residences
Location :
 Sungai Ara, Penang
Property Type : Condominium
Built-up Area : 900 sq.ft. – 1,182 sq.ft.
Land Tenure : Freehold
Developer : GSD Land (M) Sdn. Bhd.
Indicative Price : RM280,000 onwards

Contributed by reader (20/12/2011 @ ~11pm)
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Contributed by reader (23/12/2011)

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Contributed by Reader – Nov/2013

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  1. Pen
    March 9th, 2012 at 01:35 | #1

    SRBuyer :
    @Pen
    I think it is to fill the amendment form. Until now I don’t know who the panel bank too, how to sign S&P…

    SPA is not ready to be signed yet.

  2. Pen
    March 9th, 2012 at 02:05 | #2

    SRBuyer :
    @Pen
    I receive letter for re-registration and to get RM2000 voucher. Izzit the same as the one you get.

    Yes, I received both 2 letters, they are not the same.

  3. sentino
    March 9th, 2012 at 09:19 | #3

    luckily i no buy this project, heard my banker friend said they facing financial problem now

  4. SRBuyer
    March 9th, 2012 at 09:49 | #4

    @sentino
    Which bank your friend work? Is this real cause I see there is some progress in their summerton project. I might consider to drop too if this really the case.

  5. WTH
    March 9th, 2012 at 11:18 | #5

    Sound risky :)

  6. Mr Tan
    March 9th, 2012 at 12:25 | #6

    Drop SR? u must kidding me.
    if u really drop the unit, i think have a lot ppl waiting de..
    Now Developer just left 7 unit only(top Floor).

  7. cl
    March 9th, 2012 at 14:06 | #7

    wow just left 7 units only. Look like almost finish. The project should be ok per the selling units.

  8. WTF
    March 10th, 2012 at 10:39 | #8

    The bank will just afraid the units not sold. If sold, the buyer to get loan from bank not developer. If completed 20%, bank will issue 20% of money of your loan only. If the developer run away, next developer will take over to complete the project and get the balance 80% from your bank. If the building cost is higher than their profit, then there is a chance the developer will run away but this project is not cheap. They should get a big profit margin.

  9. cl
    March 10th, 2012 at 16:46 | #9

    Agreed. Seeing some progress on Summerton Project. Wish SR will have progress soon.

  10. kg
    March 11th, 2012 at 14:08 | #10

    Think positive la.. little rumors aldy wanna drop unit u better go buy ijm and pdc project next time..

  11. WTF
    March 11th, 2012 at 22:46 | #11

    ijm pay at least 450rm/sqft :)

    I received the letter but i didn’t received the 2k voucher???? Why you guys got it, anyone can advise?

  12. Lim
    March 12th, 2012 at 12:46 | #12

    2k voucher just for new project… no use if you no consider new project with them.

  13. SRBuyer
    March 12th, 2012 at 12:51 | #13

    @Lim
    Have you apply the loan? Do you know the panel bank for this project?

  14. WTH
    March 12th, 2012 at 14:07 | #14

    I called this morning, they will let us know the panels when signing the S&P and stamp. Loan can apply after signed. If failed to get loan, they will charge 10% from your booking fee.

  15. SRBuyer
    March 12th, 2012 at 16:31 | #15

    @WTH
    Thanks WTH for info, i thought if failed to get loan they do not forfeit us RM500 as stated on the agreement letter when we booked. Nvm, i will ask further from them. Thx a lot !!

  16. cl
    March 15th, 2012 at 11:36 | #16

    Any update for latest progress?

  17. karen
    March 19th, 2012 at 21:34 | #17

    did anyone have apply the housing loan with bank

  18. SRBuyer
    March 19th, 2012 at 22:41 | #18

    @karen
    Not yet, how about you??

  19. Alex
    March 19th, 2012 at 23:32 | #19

    I asked the sales person during property fair last week and knew that they in progress to finalize the panel banks…mostly finalize on end of this month and sign SnP

  20. WTF
    March 20th, 2012 at 06:24 | #20

    My colleague told me his frz try to apply housing loan over 10 banks upfront with 3names, combined salary exceed rm12k, but all applications were rejected. included gsd panel bank, eg hong leong, ammb, ocbc. My colleague also advised me better to apply loan before sign the agreement if failed to get then do not sign the agreement. There could be some hidden conditions that we are not aware. if we failed to get loan then forfeit rm500. But if we successfully to get loan 80% but we unable to pay 20% afetr signed the agreement then they will forfeit all the RM5000 booking fee. Have anyone here check already?

  21. karen
    March 20th, 2012 at 09:37 | #21

    @SRBuyer

    I still not proceed any bank loan yet. i worry cannot get it the loan.

  22. SRBuyer
    March 20th, 2012 at 09:45 | #22

    @WTF
    Woah, yea.. that for the advise. Will apply bank loan 1st before sign S&P. Bank nowdays seems very strict on loan application.

  23. cl
    March 20th, 2012 at 10:00 | #23

    Do you know the confirmation panel bank of SR project? So that we can proceed or not required panel bank for loan application. Thanks.

  24. Oyasumitekis
    Oyasumitekis
    March 20th, 2012 at 22:50 | #24

    did SR announced the Back Penal d? Because i heard from the sale girl said that SR only accept the panel bank only… need for help because i am now at outstation…

  25. WTH
    March 21st, 2012 at 10:53 | #25

    My agent asked me do not sign the agreement until you confirmed the loan approved.

  26. karen
    March 22nd, 2012 at 14:25 | #26

    ya, sure i also thing like that, must get the bank loan approve then can be sign the S&P.
    but is just worry the bank loan approve onlyu 80%….

  27. cl
    March 22nd, 2012 at 14:31 | #27

    do you know any final panel bank for SR? Thanks.

  28. SRBuyer
    March 22nd, 2012 at 14:36 | #28

    Not finalization yet on the panel bank. They will inform all the buyers once there is finalization hope by end of this month.

    As long as the bank approve the loan 80% or 90% I think it should be okay. Find a way to get the 20% payment is easier than find a way to get the 100% payment.

  29. Lim
    March 22nd, 2012 at 18:52 | #29

    hope delay sign S&P, so i can use my new salary to apply loan. if not, i need join name with my wife.

  30. Alex
    March 22nd, 2012 at 18:55 | #30

    @ Karen
    Why you said that bank only approve 80% loan? If this is your 1st or 2nd house, we still can loan 90% right?

  31. WTF
    March 22nd, 2012 at 22:05 | #31

    So far i know ocbc is working with GSD on the package.

  32. cl
    March 22nd, 2012 at 22:07 | #32

    Thanks for the info share. Wish to have more panel bank for comparison and better package.

  33. karen
    March 24th, 2012 at 07:31 | #33

    @Alex
    this is my first house, as i check before even I buy the 1st house bank also will approve 80% loan then we have to perpare the 20% money in advance. Any one pls share if you know the SR panel bank. Then i can get ready for this…

  34. Mr Tan
    March 25th, 2012 at 12:31 | #34

    @karen

    1st or 2nd house stil can get 90%, except ur income no strong so they just approve u 80% only.
    u may try ask other bank.

  35. karen
    March 26th, 2012 at 13:51 | #35

    @Mr Tan
    Thanks for your sharing….

  36. Brandly
    March 26th, 2012 at 14:48 | #36

    wanna to release the unit…..

  37. suede
    suede
    March 26th, 2012 at 18:48 | #37

    @Brandly
    Why you wanna release the unit?
    Mind share.

  38. Lim
    March 26th, 2012 at 19:02 | #38

    @Brandly
    Because to many ppl say GSD not good?
    or have any internal news?

  39. own stay
    March 26th, 2012 at 20:28 | #39

    or loan problem?

  40. GG
    March 26th, 2012 at 20:33 | #40

    @Brandly
    great heard you say that, GSDland new project already up to 400psf. When want to release tell me… The type you want to release A, B, C. Thanks man !!

  41. karen
    March 28th, 2012 at 22:03 | #41

    any news on the panel bank ?

  42. Desperade seeker
    March 29th, 2012 at 12:38 | #42

    dont worry gsd boss himself is financially sound. he is a filthy rich man just that he recently invested in property business. dont get the new developer’s name to scare you off.

  43. cl
    March 29th, 2012 at 14:43 | #43

    Anyone got call from GSD for SnP sign or panel bank finalization? Kindly share.

  44. karen
    March 30th, 2012 at 18:42 | #44

    i go to GSD office today to ask for the panel bank, the girl said still not yet get the bank approval so they did not know at the moment.

  45. YeohCC
    March 31st, 2012 at 14:12 | #45

    1182sf unit for sale. 28 & 27 floor.
    Asking RM470K

  46. Pen
    March 31st, 2012 at 16:19 | #46

    Wow IPO started.

  47. Thunder
    March 31st, 2012 at 19:59 | #47

    Wooo… 470k for nothing with risk.. Dreaming…

  48. skysboyz
    April 1st, 2012 at 15:23 | #48

    With more than 5 months from the launching date there is no confirmed panel banker & no further update, I am wondering where the confidence for this project come from? No pain no gain?

  49. Hello2012
    April 1st, 2012 at 18:49 | #49

    Look mid cost apartment only

  50. Brandly
    April 1st, 2012 at 18:49 | #50

    want to release…..
    1/ View will going to black later by new phase. What is the point to stay high level if no view?
    2/ Untill still no BANK been assignted? Assume that the budget priority for condo near Queensbay Mall.
    3/ The project sure will Delay and yet the finalcial sunami is coming soon. High RISK for both 1st House or Invester.
    4/ The price cant go up a lot after too many project done in the some period near that area?

  51. Joe
    April 1st, 2012 at 18:51 | #51

    I dont like the house layout…..
    no view? Gila….
    Buy second house and replaining like new house ..huhu

  52. Bee Lan
    April 1st, 2012 at 18:53 | #52

    just worry ……. Got only PAIN but NO Gain…hahhaha!

  53. WTF
    April 1st, 2012 at 18:55 | #53

    That why the completed houses always much more expensive compare to the new launch houses. Once this project completed, sure will exceed min 470k for 1182sq/ft, the similar project next to SR cost you more than 400/sqft now. You buy the IPO, even a good one you also can’t predict what will happen after 5years.

  54. tata
    April 2nd, 2012 at 09:53 | #54

    I think if you have book one just hold it and keep it. The trend now is even majority of people hope for house price to drop or predict it will drop, but it will not happen. There is only uptrend in future for m’sia property regardless of majority of us can or cannot afford to but it. Look at golden triangle case, developer GSD alway sell their property when everything is not ready yet but with cheaper price. If everything is good and positive, you will not get this price anymore.

  55. Mr Tan
    April 2nd, 2012 at 12:20 | #55

    @Brandly,

    You buy that time is selling Rm330psf right?
    i believe that if you surrender your unit to developer, sure they will sell RM390psf(at least).
    Trust me.

  56. Alex
    April 2nd, 2012 at 12:29 | #56

    Agree nice comments from tata but at the same time, i also hope GSD can finalize their panel bank soonest as well…:)

  57. cl
    April 2nd, 2012 at 12:32 | #57

    True. Hard to get a condo < RM400 per sqft with 2 Car Park now in PNG island. Lets wish everything will finalized soon in April.

  58. karen
    April 2nd, 2012 at 14:09 | #58

    hope so…

  59. Ops
    April 2nd, 2012 at 14:17 | #59

    even reflection by spsetia only comes with 1 carpark

  60. wbk
    wbk
    April 2nd, 2012 at 15:40 | #60

    Unit with 1 car park nowadays quite difficult to subsell. Unless your selling price is relatively low.

  61. wbk
    wbk
    April 2nd, 2012 at 15:57 | #61

    Light Linear OC this June
    Light Point OC end of the year
    Summer place just OC
    Zan Pavillion just OC
    1-world OC in August
    1-world 2 OC next year
    Reflection OC early next year
    Elit Height just complete level 2
    Meridien just started the earth work
    Summerton just started pilling
    Southbay plaza just launched
    Vertiq just launched
    Oasis still under construction
    Fiera vista just started the earth work

    Not to mention those completed 2-3 years ago but yet to find their occupants.

    If you are looking for subsell after 3 years, you have alot of competitors out there.

  62. hope
    April 2nd, 2012 at 16:45 | #62

    Hi wbk..

    SR location is the worst if compare with all the condo you list above.. hahahaha…

  63. WTH
    April 2nd, 2012 at 17:45 | #63

    hope to own a house
    hope to buy a house
    hope to get a location
    hope the house price drop
    hope to get a cheap house
    hope to earn profits
    hope…….and hope and hope……..finally realized hope already too old :)

  64. Pen
    April 2nd, 2012 at 19:56 | #64

    hope :
    Hi wbk..
    SR location is the worst if compare with all the condo you list above.. hahahaha…

    And none of the above mentioned is selling at near $315psf with 2 car parks n freehold at this moment of time.

  65. raymond
    April 2nd, 2012 at 21:22 | #65

    And none of them selling condo without balcony.

  66. wbk
    wbk
    April 3rd, 2012 at 09:39 | #66

    raymond :And none of them selling condo without balcony.

    Didn’t know that. I am a bit surprised as so many people Q up for days to get a unit.

  67. Alex
    April 3rd, 2012 at 10:36 | #67

    Now a day, I can’t really find the new condo which is less than RM400k with 2 car park. i also don’t like the unit without balcony… that’s why i choose type A

  68. Pen
    April 3rd, 2012 at 19:54 | #68

    Building a balcony will make actual build up area smaller. As it will be counted as part of the build up, with same $ psf. Some will prefer to have a balcony n some may consider it’s a waste area. Personal preference.

  69. emen
    April 10th, 2012 at 11:46 | #69

    give up this project………..too high risk

  70. Cher
    April 10th, 2012 at 18:22 | #70

    Hi Angelajolie,

    How you get the full refund from the developer? Mind to share? Thanks

  71. SRBuyer
    April 13th, 2012 at 13:58 | #71

    Any update on this project? 4 months already pass and no news yet. Anyone had cancel the project… This project really very super slow compare to others…

  72. wbk
    wbk
    April 15th, 2012 at 16:28 | #72

    Nowadays all the banks so tied up with projects from IJM, Mah Sing, Sunway, SP Setia, E&O, Ideal and other bigger developers. I think it will be a while before they have time and resources to work with GSD on SR.

  73. hoon
    April 15th, 2012 at 23:37 | #73

    this condo still available?

  74. Pen
    April 17th, 2012 at 23:48 | #74

    Yes, a few type A top floor units are still available. About 98% sold.

  75. cl
    April 18th, 2012 at 08:47 | #75

    good. Look forward SnP sign soon.

  76. wbk
    wbk
    April 18th, 2012 at 09:03 | #76

    The sooner the better lar, so many projects in Sg Ara already start pilling. SR still waiting for panel banks. Normally banks limit their loan amount for end financing project, if not enough bank signed up, jia lat liao.

  77. Alex
    April 18th, 2012 at 22:00 | #77

    Hopefully we can sign S&P on this April as per committed by them

  78. wbk
    wbk
    April 19th, 2012 at 08:51 | #78

    Now already end of April d. Panel banks got already ka? Without panel banks, where got lawyer prepare SnP ler? Unless we pay cash lar. Hehe…

  79. karen
    April 19th, 2012 at 09:40 | #79

    Aiyo, this project very slow….when we ask the develope they said pending Bank approval. but we ask bank they said pending develope document.

    Now also don’t know who pending who….

    Look like is just we pending them.

  80. penangspy
    April 19th, 2012 at 12:42 | #80

    Latest Update – upcoming project near to Golden Triangle, hearsay 1000 – 1200 sq.ft. Price below 400k.

  81. kg
    April 22nd, 2012 at 14:46 | #81

    Guys.. no matter how long the delay just hold on to this project.. when we book the price was cheaper then what the market is now n still been subsidies snp and others..if u give up now the next buyer wont entitle all this.. and thats the developer want n thats why they delay.. gsd is new but rich if they run away the next developer will take over n we are the first priority ppl to chose watever project they develope..

  82. WTH
    April 22nd, 2012 at 16:06 | #82

    As i know OCBC still working on the packages, what developer said should be true. But i think there is the negotiation to get the best benefit for both parties but still not satisfy by one side. Like you want to buy a car, you still will check the offers from different dealers to get the best discount and gifts.

  83. ah beng
    April 22nd, 2012 at 17:16 | #83

    how long all the buyers still need to wait, 1 year, 2 years, 3 years just to have panel bank approval? What you all think? Wait or not wait, us as buyer always do not have the advantage when buying property and in the end some who can’t wait will go for sub-sale and investor will gain for all this delay project… So, buy from well-know developer, Vertiq not even launch already begin their work of construction, a role model developer.

  84. wbk
    wbk
    April 22nd, 2012 at 21:19 | #84

    If i was investor, i normally dont hold on to a project that i have no idea when the
    S&P will be signed lo. And if i am buying for own stay, of course i want my house asap. Else continue to rent meh? I have many choices nowadays ler.

  85. WTH
    April 23rd, 2012 at 02:25 | #85

    wbk, people like you, just go to buy a built house. don’t wasting ur times here without giving value information. hold, not hold, hold, not hold, already repeated so many times and still same thing not only in this forum. u not boring i also boring. not interested do not comment here comment there. I can i said this is a good project, if is good, 5yrs later many ppl will say they are regret. if bad, then i think you say, “see i said before” in forum again. Then what you gain from here, pls say something like big boy, share the status with proper proof.

  86. wbk
    wbk
    April 23rd, 2012 at 09:42 | #86

    @WTH

    Wah. Resort to personal attack liao. Good try. Hehe…

  87. penang lang
    April 26th, 2012 at 14:21 | #87

    all loan kena rejected .. news from banker

  88. wbk
    wbk
    April 26th, 2012 at 14:42 | #88

    @penang lang

    Any reason banks dont want to fund this project?

  89. penang lang
    April 26th, 2012 at 15:31 | #89

    only knw developer problem ..

  90. Ah Beng
    April 26th, 2012 at 16:42 | #90

    OMG, seems like probability this project to be cancel is high… wasting time queue 4 days in the end developer problem…

  91. Skysboyz
    April 26th, 2012 at 21:59 | #91

    Not the end of the world use cash to pay pg lang byk duit

  92. CS
    April 26th, 2012 at 23:27 | #92

    what a big mess? 98% booked but end up bank not approve the loan?

  93. Legallyblond
    April 27th, 2012 at 10:24 | #93

    The time we wait = price we’ve paid lower than current market price. heard that next week they going to prepare letter send out regarding panel bank & S&P ready for signing. we can still apply loan & get approval prior signing S&P. also heard that subsale is not allow under construction even internal if we sign subsale agmt wif 1st purchaser, is not bond & secured to 2nd purchaser bcos developer’s direct sold to 1st purchaser but not subsale purchaser..

  94. wbk
    wbk
    April 27th, 2012 at 10:35 | #94

    If next week still no panel banks how ah? Panic again? Buyers better give more pressure to the developer lor.

  95. kk
    April 27th, 2012 at 10:37 | #95

    i dont think snp can sign so fast.
    btw, have the plan approved? if not, where can you allow to sign snp?

  96. wbk
    wbk
    April 27th, 2012 at 10:59 | #96

    No plan yet wor, would banks agree to become panel for project that yet to be approved? Curious…

  97. skysboyz
    April 27th, 2012 at 11:18 | #97

    If this project is not under ADL by bank the bank will not provide financing to the buyers. How could you apply the loan? The only way is to pay cash

  98. bubble breaker
    April 28th, 2012 at 04:48 | #98

    Does this phenomenon accelerates the burst of the bubble? I head this is not the only case in penang. Sorry, i just started leaning about properties stuff.

  99. Legallyblond
    April 28th, 2012 at 09:17 | #99

    if you really bought a unit, then next week will know whether we receive letters…

  100. cl
    April 28th, 2012 at 22:07 | #100

    Next week developer will send letter to buyes for the panel bank and S n P detail? Wish it will happend.

  101. penpic
    May 2nd, 2012 at 11:13 | #101

    This week seems hard to receive letter frm dev. My friend who bought said only got 2 bank approve only

  102. cl
    May 2nd, 2012 at 11:22 | #102

    Good. Finally 2 bank approved for the project. Hopefully buyers can received the confirmation letter soon.

  103. emen
    May 2nd, 2012 at 11:37 | #103

    Drop. ……….who want to take over my booking?

  104. karen
    May 2nd, 2012 at 13:47 | #104

    I have not get the letter…..

  105. Jason
    May 2nd, 2012 at 13:58 | #105

    anyone interested to buy this unit jz pm me…
    mine unit is Type A 1128sqf, 13th floor..

  106. Alex
    May 2nd, 2012 at 19:53 | #106

    @penpic
    Can you share out which are the 2 banks you mentioned above?

  107. overtime
    May 3rd, 2012 at 07:18 | #107

    Hi
    I am interested in purchasing sierra residences. Would you mind to pm me?
    ronan_00@yahoo.com

  108. penpic
    May 3rd, 2012 at 09:17 | #108

    Heard is pbb n hlbb…but don know is it sure.

  109. penpic
    May 3rd, 2012 at 09:17 | #109

    Heard is pbb n hlbb…but don know is it sure. U can try !

  110. Siang Tatt Khor
    May 3rd, 2012 at 10:04 | #110

    Just check……hlbb no longer the panel banker for this project!

  111. sr buyer
    May 3rd, 2012 at 11:02 | #111

    Pbb confirmed nt the panel banker

  112. wbk
    wbk
    May 3rd, 2012 at 11:03 | #112

    End of the week already wor, cheated by developer again? Hmmm…..

  113. Wong
    May 3rd, 2012 at 11:06 | #113

    Then no more panel banks willing to finance to this project. All buyers go borrow from 大耳窿. GSV will bear the interest :)

  114. Ah Win
    May 3rd, 2012 at 13:55 | #114

    Just drop my unit Type A last month :)

  115. Ho
    May 3rd, 2012 at 16:15 | #115

    This project made a fool out of Penangites…

  116. Wong
    May 3rd, 2012 at 16:51 | #116

    Pity for those been queuing for nights during the launch

  117. Siang Tatt Khor
    May 3rd, 2012 at 17:13 | #117

    Bankers claimed that this developer (the group) have been too ambitious by killing too many birds with 1 stone with their suspected limited $$$ resources. I don’t know how true but it seems the group currently are concentrating on 4 new projects within Pg Island! Wow! This scenario would be an exact historical event just like what Penas Group during the late Eighties & early Nineties (for those old enough who still remember them!) did! Too many pots but limited lids cover……

  118. Ah Beng
    May 3rd, 2012 at 17:53 | #118

    yea, not even a listed company and not even 1 project completed… Where to get resources? They only know collect booking money, then delay 1 or 2 years, money they take go invest share earn or put in bank interest they earn every month… Bugger developer..

  119. wbk
    wbk
    May 3rd, 2012 at 21:05 | #119

    This is scary… Now have to wait until they complete the Summerton first lo, then see how. Or drop this then book other project.

  120. Tm
    May 3rd, 2012 at 21:15 | #120

    Exactly. Existing project not even start and launch new one. Possible use the $$$ from new launch project roll for old one, roll and roll one another. It’s like “rob Peter to pay paul”. I’m TGT buyer and m start to worry on this developer

  121. cashflow
    May 3rd, 2012 at 21:25 | #121

    @Tm
    No worry, at least TGT is not at the end of food chain, but Garden Ville and Sierra!

  122. 1957
    May 3rd, 2012 at 21:43 | #122

    @cashflow
    It is TGT buyers need to worry because signed snp and loan. Have to continue serve the loan if developer cabut. Other projects only risk to lose the booking fees only..

  123. cl
    May 3rd, 2012 at 23:08 | #123

    Anyone can share how long it take for TGT project to sign the SnP and what is panel bank? Thanks.

  124. penang
    May 4th, 2012 at 00:41 | #124

    All,
    don’t worry for this developer.
    they r cash rich…

  125. karen
    May 4th, 2012 at 09:21 | #125

    @penang

    If is same what you said above, why? they are pending so long for the bank panel.
    first said end of march or beginning Apr. But until now 1st wks of May also not see anything is confirm.

  126. Nirvana
    May 4th, 2012 at 09:55 | #126

    @penang

    This developer cash rich by collecting booking fee is it? If no bank want to fund the project, are they going for the 10/90 scheme that only collect the remain 90% after complete build?

  127. XxX
    May 4th, 2012 at 11:36 | #127

    @Penang

    I think you are 1 of the GSD sales man :)

  128. Pen
    May 4th, 2012 at 13:13 | #128

    If you are an investor of SR, then the longer the wait of S&P signing date, the better. As you have locked into the current house price now with only $5k, and to capture the potential higher future price. Nothing to lose, only if you are an investor.

  129. cl
    May 4th, 2012 at 13:23 | #129

    Right. Knowing that from GSD web got another new project will be developed in Kelantan called MIRAGREEN Residences.

  130. Nirvana
    May 4th, 2012 at 14:16 | #130

    @Pen
    The developer is happy with a few millions of interest-free capital in their pocket with the booking fees. Better put the $5k in fix deposit at least got 3% interest. Who know what happen then…the house price may fall, developer may cabut….if the banks feel that the project is risky, then I don’t think I know better or smarter than the bankers….

  131. Pen
    May 4th, 2012 at 15:14 | #131

    @Nirvana
    Well, I don’t think the developer will be happy with the $1-2million deposit for interest only. I think the land cost interest will cost more than that.

  132. ling
    May 4th, 2012 at 15:35 | #132

    Ya, i just told my friend from Kuala Krai Kelantan to be careful of this developer. He’s thinking to drop the booking for the MIRAGREEN now. Why the developer need to go to Kelantan to build houses? Nobody dare to buy from them in Penang already?

  133. Lucy
    May 4th, 2012 at 17:54 | #133

    if developer bankrupt then SR buyers should be grateful that they only loss their booking fee…big cries will b coming from summerton buyers that already signed the SnP & loan….

  134. XxX
    May 4th, 2012 at 23:48 | #134

    Can someone please comment if all bank reject this SR project?

  135. wbk
    wbk
    May 4th, 2012 at 23:55 | #135

    Someone said this week developer will send out notice on list of panel banks. But now already Friday. I think buyers should call up developer to seek clarification. Normally panel bank already finalised when you placed your booking. They are the one that will station there during the launch, and ask you to get loan from them one. This project not follow procedure i guess…

  136. Ho
    May 5th, 2012 at 00:22 | #136

    I live opposite TGT and I can report that I hear construction working everyday…

  137. Maris
    May 5th, 2012 at 09:50 | #137

    I spoke to the banker from Ocbc last week, very unlikely they want to be their bank panel. If we cancel our booking, how much they will refund us?

  138. Maris
    May 5th, 2012 at 09:53 | #138

    Sometimes, is better to loss a little as not to have a worry for years….too scary to see the way the developer handling their project….

  139. Lucy
    May 5th, 2012 at 11:14 | #139

    no risk no gain….its personal choice….you gain the cheapest current psf in the market? but have to bear the possibility of dev bankrupt, project delay, low quality projects…etc….for investor, they wouldnt care much i guess as their pocket is very deep & not that they are going to stay there…for first time buyer, think twice….BTW, if not mistaken TGT is project they collaborate with other company..not purely owned by GSD….

  140. cl
    May 5th, 2012 at 12:44 | #140

    Heard that TGT is nearly 1 year only sign Snp? is this true? Pls share.

  141. WTH
    May 6th, 2012 at 12:52 | #141

    TGT taken ~7months to sign snp if i’m right. I have 5colleagues in my department bought 7units of TGT projects. This is a worth project, they bought in discount price~300k with 2car park, Q at midnight. Developer pay the bank interest upon the project completed. the price now went up to 370k++. For SR you need to pay ~20k-24k bank interest for 1182sqft unit in 3years upon the project completed.

  142. penpic
    May 6th, 2012 at 13:57 | #142

    My bro just drop SR..they refund not full but charge 500bucks for
    Admin & processing fees. He said that called hlb that they r not panel
    Yet cos the dev din even get what license for this project..i have no
    Idea but just share. U guess check it out.

  143. Pen
    May 6th, 2012 at 15:53 | #143

    Actually, the developer is the one who delay the SPA signing, they were the one had broken the contract, and must not charge the buyer $500. You should talk to the lawyer and threaten them to refund in full.

  144. ah beng
    May 6th, 2012 at 18:30 | #144

    Yeap based on booking agreement, 31st March is the due date for loan and SnP and yet now is already May. Fast fast go cancel before 5k also cannot get back… Beware of this ponzi scheme developer. Anyone get back full refund please share it here so we can know and request for full refund together. Unity is strength

  145. cl
    May 7th, 2012 at 00:03 | #145

    Anyone got any feedback currently regarding the situation and the latest answer from Dev?

  146. penpic
    May 7th, 2012 at 09:18 | #146

    Cant get back full,the letter signed when make booking agreed that
    They will charged 500 if we cancel for whatever reason…

  147. SR Buyer
    May 7th, 2012 at 11:46 | #147

    getting SMS that buyers can make appointment for SPA signing, i not even know the panel bank yet…

  148. Lim
    May 7th, 2012 at 12:27 | #148

    GSD say is PPB and Alliance bank o…..

  149. Alex
    May 7th, 2012 at 13:47 | #149

    SR Buyer :getting SMS that buyers can make appointment for SPA signing, i not even know the panel bank yet…

    I also received the SMS from GSD to make appointment for signing SnP. Just having a call to GSD and the sale persons mentioned that Public bank and Hong Leong banks are their panel banks. I was told that the mortgage of these 2 banks will probably calling SR buyers for loan application by this week. I made appointment with GSD by middle of June so that i have enough time to settle the bank loan stuff before signing SnP…:)

  150. wbk
    wbk
    May 7th, 2012 at 14:31 | #150

    Wondering how many buyers cancelled their booking to force them to take this step. Hehe…

    For end financing project, two panel banks are not enough kua, I think. They may just prepare some so called SnP for buyers to sign without the presence of the lawyer from the panel banks lor. Then they can lock the buyers forever since they already taken their 10% downpayment. Hehe….

    Buyers can wait if they wanted to, but giving them 10% without knowing the final list of panel banks is a no no lor. Hehe…

  151. cl
    May 7th, 2012 at 15:33 | #151

    So Panel bank is PBB/HLB or Aliance Bank? Confirmed from Bank?

  152. Alex
    May 7th, 2012 at 16:28 | #152

    cl :So Panel bank is PBB/HLB or Aliance Bank? Confirmed from Bank?

    I didn’t confirm from bank…it is input from GSD sales when i called them just now. Please share if anybody call the bank for confirmation?

  153. wbk
    wbk
    May 8th, 2012 at 09:24 | #153

    Ask GSD to provide panel bank contacts lar. Really want to know how they response… Hehe…

  154. karen
    May 8th, 2012 at 11:05 | #154

    @wbk

    I also ask GSD provide the panel bank contact, but they can’t provide to us. Just tell us the banker will call us.

  155. wbk
    wbk
    May 8th, 2012 at 11:16 | #155

    @karen

    They are so predictable. Don’t have banks want to fund them still want to lie. When come to housing loan, we don’t wait for bank to call us one. Hehe…

  156. WTH
    May 8th, 2012 at 11:18 | #156

    So far only PPB. Gave by GSD, Call Mr Teh 012-4106838. Also there are few more banks to be confirmed in next few days. Also GSD will pass SR buyers contact# to those approved panel bank agents, then the bank agents will call us to apply for the housing loan.

  157. WTH
    May 8th, 2012 at 11:30 | #157

    wbk :
    @karen
    They are so predictable. Don’t have banks want to fund them still want to lie. When come to housing loan, we don’t wait for bank to call us one. Hehe…

    Hope you can give an useful information instead of talk like small kid. Yes, this is personal attack.

  158. penang lang
    May 8th, 2012 at 13:14 | #158

    Jason :
    anyone interested to buy this unit jz pm me…
    mine unit is Type A 1128sqf, 13th floor..

    how much ???

  159. penang lang
    May 8th, 2012 at 13:26 | #159

    @penangspy
    wat project name ? can share ?

  160. upsetguy
    May 8th, 2012 at 13:29 | #160

    I just called up GSD, they mentioned the duration of singing snp is in between 25th May to 25th June, after all of the snp have been signed up by buyers, which mean after 2 week from the due date, they will get us the stamping duty, kindly clarify.

  161. wbk
    wbk
    May 8th, 2012 at 13:34 | #161

    WTH :So far only PPB. Gave by GSD, Call Mr Teh 012-4106838. Also there are few more banks to be confirmed in next few days. Also GSD will pass SR buyers contact# to those approved panel bank agents, then the bank agents will call us to apply for the housing loan.

    Like that we give them another week again and see what happened lo… Hehe…

  162. wbk
    wbk
    May 8th, 2012 at 13:41 | #162

    WTH :

    wbk :@karen They are so predictable. Don’t have banks want to fund them still want to lie. When come to housing loan, we don’t wait for bank to call us one. Hehe…

    Hope you can give an useful information instead of talk like small kid. Yes, this is personal attack.

    Again? Good try lo… Hehe…

    Anyway, do you know whether they get their project plan approved by government? Can’t find it from the website lar. Don’t know what will the state government ask them include there later…

  163. Mrs Ong
    May 8th, 2012 at 14:53 | #163

    @Jason
    how much is your unit, Jason, can see view??

    Anyone have higher floor with seaview (18-20th^) let me know if you are selling??

  164. Maris
    May 8th, 2012 at 21:52 | #164

    Can we sell our unit before signing s&p? If can, then I will let go if the deal if good.

  165. Ah Leong
    May 8th, 2012 at 22:06 | #165

    RM500k for my unit 1182sf, above 20th floor nice mountain view, facing swimming pool, plan to let go b4 SnP signing… Anyone interested can pm me..

  166. Lucy
    May 8th, 2012 at 22:06 | #166

    good deal = 250k? even that price i aso dont want… :) cannot afford

  167. U2
    May 8th, 2012 at 22:34 | #167

    @Maris
    Many units return to developer. Just buy fr developer. Y wan to buy fr u?

  168. Phil
    May 8th, 2012 at 22:51 | #168

    Anyone interested to buy 1000sft unit pls let me know.

  169. Pen
    May 8th, 2012 at 22:58 | #169

    Please email me if you have unit to let go. Price must be reasonable, and I would like to know the name transfer procedure too, penangx@gmail.com.

  170. LOL
    May 9th, 2012 at 00:05 | #170

    What? sell at 500K? Want to earn tens of thousand just with your RM5K booking fee & without signing SnP? You all dreaming lah! developer will not allow you to transfer the booking coz they got a lot of cancelled booking, unless it is the developer ‘fishing’ for buyer in this forum. Prepare to lose your $500 penalty or sink together with the developer…good luck.

  171. fun
    May 9th, 2012 at 10:57 | #171

    i called up Maybank and according to them, there’s no reason to reject of being panel since they approved Summerton too.

  172. cl
    May 9th, 2012 at 11:07 | #172

    So did Maybank will be include in panel bank list too later?

  173. Mr Tan
    May 9th, 2012 at 12:01 | #173

    just receive the call from Gsd :-

    She say public and hong leong is the penel banker,
    buy anyway i need to comfirm with the banker 1st.
    haha

    any news pls let me know ya…

  174. Lim
    May 9th, 2012 at 12:52 | #174

    HLB banker have call me yesterday already.

  175. cl
    May 9th, 2012 at 13:18 | #175

    Wish to received call from Banker soon.. Advised from GSD land end of this Month notice board/panel of project will be published on site. Let wait for that and confirm.

  176. karen
    May 9th, 2012 at 13:39 | #176

    @Lim

    Can you share the contact number for the HLB?

  177. Lim
    May 9th, 2012 at 14:01 | #177

    @karen
    HLB – 0123186626 Tracy Tay
    She say can give offer -BLR up to 2.5 in first years….

  178. kayy
    May 9th, 2012 at 16:59 | #178

    Wanan to release 1 unit type c. …high floor. Rm5k
    Pm me

  179. David
    May 9th, 2012 at 17:53 | #179

    Wanan to release 1 unit type b. …intermediate floor. Rm5k
    Pm me

  180. Sr buyer
    May 9th, 2012 at 19:34 | #180

    Wish to release my unit for 30k premium 900sq ft unit
    Pm me for serious buyer only

  181. Mr Tan
    May 9th, 2012 at 20:03 | #181

    @David
    i interested type b.
    1) i don’t understand RM5k is wat?
    2)if i extra pay rm5k can get the unit?
    How to process? pls let me know.
    Thanks.

  182. LimSC
    May 9th, 2012 at 23:37 | #182

    I wanna to release one unit, 18th floor….serious buyer pls let me know

  183. WTH
    May 9th, 2012 at 23:51 | #183

    Wish to release my unit for 50k premium 1182sq ft unit
    Pm me for serious buyer only.

  184. TL
    May 10th, 2012 at 00:22 | #184

    serious buyer here interested to buy SR but according to developer unable to change name.
    ???

  185. David
    May 10th, 2012 at 11:15 | #185

    @Mr Tan
    Please send me ur email for contact. Thanks

  186. Legallyblond
    May 10th, 2012 at 13:55 | #186

    Developer not allow transfer or subsale only accept name under booking with direct developer.
    They won recognise this kind of transaction.
    Be smart !

  187. tl
    May 10th, 2012 at 15:52 | #187

    @David

    hi david
    i would like to know more about yur unit.
    What yur contact no.?

  188. cl
    May 10th, 2012 at 16:10 | #188

    Confirmed PPB and HLB is panel bank, any other panel bank available? Pls share. Thanks.

  189. Huat Chai
    May 10th, 2012 at 18:45 | #189

    I want to sell my unit with 500k only. veli good sea & swimming pool view + 3 carparks. Veli good deal & I only earn veli little (50K) premium only. You just pay me RM55K and I can immediately transfer my 5k booking to you. Who want please email HuatChai@getrichfast.com. Serious buyer only…..

  190. Lim
    May 10th, 2012 at 19:04 | #190

    @Huat Chai
    Wa, 50k still is very litter? you really is Huat chai ya,,,,,

  191. wbk
    wbk
    May 10th, 2012 at 20:09 | #191

    Huat Chai :I want to sell my unit with 500k only. veli good sea & swimming pool view + 3 carparks. Veli good deal & I only earn veli little (50K) premium only. You just pay me RM55K and I can immediately transfer my 5k booking to you. Who want please email HuatChai@getrichfast.com. Serious buyer only…..

    Nego or not? Hehe…

  192. Alex
    May 10th, 2012 at 20:24 | #192

    cl :Confirmed PPB and HLB is panel bank, any other panel bank available? Pls share. Thanks.

    I just received call from Ambank mortgage as well…

  193. Alex
    May 10th, 2012 at 20:25 | #193

    wbk :

    Huat Chai :I want to sell my unit with 500k only. veli good sea & swimming pool view + 3 carparks. Veli good deal & I only earn veli little (50K) premium only. You just pay me RM55K and I can immediately transfer my 5k booking to you. Who want please email HuatChai@getrichfast.com. Serious buyer only…..

    Nego or not? Hehe…

    haha…u sound very funny…

  194. Huat Chai
    May 10th, 2012 at 20:27 | #194

    @wbk

    discount RM500 to u lah since earlier I am already prepare to kena the cancellation penalty :)

  195. wbk
    wbk
    May 10th, 2012 at 20:32 | #195

    @Huat Chai

    50k premium still very high lar, Q for 3 days 3 nights only. Plan also not yet approved…

    Downpayment normally 10%, plus this 50k will be 25% already. Like that not worth to invest already lar. Hehe…

  196. Huat Chai
    May 10th, 2012 at 21:42 | #196

    @wbk
    OK OK….reduce to RM10k u want or not? “no meat” already, if want fast fast come…

  197. wbk
    wbk
    May 10th, 2012 at 22:32 | #197

    @Huat Chai

    Still got alot of meat there. Best price lar, bro.

  198. Alex
    May 10th, 2012 at 23:10 | #198

    Alex :

    cl :Confirmed PPB and HLB is panel bank, any other panel bank available? Pls share. Thanks.

    I just received call from Ambank mortgage as well…

    RHB banker called me as well. So, there are at least 4 banks are their panel banks. PBB, RHB, Ambank and HLB…

  199. cl
    May 10th, 2012 at 23:14 | #199

    @Alex
    Thanks for sharing. Do you know the branch or the contact of RHB and Ambank?

    Knowing that HLB – Bayan Baru and PBB – Bagan branch.

  200. Alex
    May 11th, 2012 at 01:11 | #200

    cl :@Alex Thanks for sharing. Do you know the branch or the contact of RHB and Ambank?
    Knowing that HLB – Bayan Baru and PBB – Bagan branch.

    RHB – 0124149998 Byran Yoong
    Ambank – 0164953317 Kristi

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