Just curious why until now PBB only withdraw since someone already sign offer letter. Just know they pending GSD gov letter and this also confirm by GSD. After received, they can proceed.

Any Reason.

@GG

I wonder why there are 2 seperate agreements in this project? Since I heard that their boss is having a good financial support, my question is :
If developer is having a strong financial support, the car parks are not a big issue for them, they still can wait until the bank to release the loan for them upon the construction until certain floor (8th floor and above).
So far, I’ve never heard about car parks cost you RM25/car park at midium cost Apartment.
Is really curious, why buyer need to pay in a seperate agreement for the car parks?

@cl

Please clarify are they waiting for the Gov letter? I don’t think the bank will reject them just becuase of that reason.
As what I understand from PBB banker, one of the reason is becuase the developer is unable to provide them the actual lot number for the car parks.
This is just a small matter, I wonder will there be any other matter behind this scenario? Please share.

@upsetguy
I not sure too why with good financial status company want 2 separate agreement, very seldom got developer do this way, only those company without good financial status will do this way.

Yea, you are right. The car park price is really high compare others medium cost apartment, the 2nd agreement is really ridiculous thing. Now just wait and see, if PBB withdraw i think we just withdraw… GSDLand proof they can’t do big thing here, just simple project they can’t handle it.

Based on Ms. They’s input from Bagan Ajam PBB branch, they are still pending developer license from federal government…

Novice thanks for confirm. Looks like PBB still a Panel just pending Developer license. This is what i get from PBB Bagan Ajam answer. After received from GSD, they will issue offer letter.

@cl
PBB had already issued the offer letter, i received it 1month ago but i choose RHB. PBB just pending for loan agreement if i’m not wrong. But yes, they still hv not received hardcopy of licenses from gov. Same for RHB and other banks. Maybank can only approve the unit come with 1 agreement. The rest come with 2 agreements still pending for management approval.

what a funny project…APDL & loan approval also got multiple version of stories and dragged for so long still not settle…

Today went to see the site, all looks the same as compare to 1 month ago, looks pretty slow on the overall progress, discovered one strange thing on the sign board, seem like the phase 1 on the tentuan Sierra Residences Sdn. Bhd. had been covered up and only can be seen phase 2 on the sign board, I wonder the phase 2 project is Sierra Residences or some other projects?

WTF :
what a funny project…APDL & loan approval also got multiple version of stories and dragged for so long still not settle…

Because people are spinning rumours?

Upsetguy
Saw the same thing 2 weeks ago.

From the description, Parcel 2 = Sierra Residence. (25 storey /323 units of apt + 5 storey car park)

if the covered portion is Parcel 1, then I believe it is made from 3 part
i) 19 units 3 storey linked house
ii) 22 units of to 2 storey office
iii) 24 storey Medium cost Apt + 5 Storey car park.

I also read there are 3 more parcel for “future development”.

Detail of the development
http://www.epbt.gov.my/osc/Borang_info.cfm?ID=118005&NoForm=Form3

Image of signboard can be downloaded here:
https://hotfile.com/dl/162657122/e0dd8d4/Signboard.jpg.html

im a buyer too…. wander why this project facing a lot of problem….one to another!!! my status is still pending waiting bank loan offer letter. I think i should buy GIM project previously instead of GSD Land project ……

im alreday pay the booking 5k…..thinking to withdraw ….the risk level % is keep on increasing. MAY BANK do not want to comment much , PBB say never seeing problem like this….Only RHB still accept the loan appication….but do not know the actual status.

confirm PBB withdraw the project ? pls share…… thanks

@loobengtin
I prefer to say a lot of ppl spread the rumours instead of problems.
My understanding, both GIM and GSD are same Boss, just registered under different company name.

Aiidooi….. i think i can have a dream house alreday….but why why why?

really headache…so many problem..dunno wanna drop or hold..
i tried apply PBB, Maybank and HLB..but HLB quota full..and the other 2 still pending for dunno wat document/verification.. really shit

Insider news says that this developer has past experience with CASH FLOW problem.
Risk Assessment from PBB has classified this project as high risk.

Please give a call to your PBB banker to confirm now.

Other banks, i will find out Maybank from my friend soon. Others, can anyone help?
If 2 banks confirmed this news,,, better watch out and take note….

Think think & re-think, check out this tread before you decide loh.
https://www.penangpropertytalk.com/2012/07/setia-pinnacle/

If GIM & GSD are same boss, can you look at the Golden Traingle construction? The overall progressive so slow like hell, they built one floor also need months, last month I saw they built the 1st floor and yesterday when I passed by, they are still at 1st floor, just compare The Lights, they already completed one building and now going for another, judge it yourselves.

I wonder when would be the final date for signing snp? Cause as stated in the snp agreement, the project need to be completed after 3 year from the date of signing by buyer. Now is already July 2012, can it be completed on April 2015 for those who sign the snp on April 2012?

What is the reason the PBB withdraw from this project? And the other 2 banks(MBB & RHB) still pending for the approver? Why there are not many some other banks interested in this project
as Penang property value is growing so fast?

Hoping that I will get the advise from all of you, I just wish to get a real situation and hope not to get an attack from the “internal ppl” as this is a sharing forum.

@upsetguy
You are in deep shit if already signed snp. The completion date is count from SnP STAMPING date at the government office, not the date you put your signature on it. I bet the developer still onhold the SnP and not stamp yet even though you signed it on April. so ban-ban-dan lah…If bank reject the loan then you can say goodbye to your 10% downpayment already. The Arena at least got 1 lousy Affin Bank willing to loan, this one totally sucked!

If they not even success in building Sierra Residences, how they want to sell their Garden Ville and the others phase of project which they already register under Sierra Residences Sdn. Bhd.

I passed by Golden Triangle, construction stopped at level 2, not sure why also, i don’t see any people working and the site looks like they dont have plan to further anymore, is this project going to be abandon? as you can see, they dont have the machinery to proceed to the next level (all the kayu/besi is not set-up for the slab on the 3rd floor,

anyone can share what is going on there? they still have so many projects and yet they claim people queue up overnight for their projects, but now their construction really broke my confidence in them. as we can all see, this project was launch 2 1/2 years ago during my first visit, and now construction stops at level 2 for so long,

someone got to explain this

seeing advertisement on newspaper for Garven Ville open for registration from GSD.

GG :If they not even success in building Sierra Residences, how they want to sell their Garden Ville and the others phase of project which they already register under Sierra Residences Sdn. Bhd.

easy, they change their company name again lo……
after that have a few cheap units as gimmick and draw ppl to queue overnight again!!

@SK king
They can change company name after register the project with goverment ? This need extra $$$ too if they do like that… We SR buyer can we sue the developer since we already sign the SnP…

@GG
Although you signed the SnP, I bet the SnP have been onhold by developer and not been stamped at government office. You are stucked! You want to withdraw, developer will tell you stamping in progress and no way out. You have no control over the SnP stamping, and god know when it will be stamped! without the stamping, you are not legally protected and there is no legal dateline for project completion!!!

@wbk2
aiyo, wbk2 why u no early appear in this forum. kena conned by this developer liao lo like that… T_T how to withdraw and get back my hard earn money?

@GG
He appear long long times ago but you are not aware. Sound like I also a victim that signed the SPA last month. But i’m still at the minimum risk position.

For day n nite we go n Q, at last we get nothing? No wonder from early there are something behind already, so far I’ve never seen that ppl need to Q for week in order to purchase a house, and developer need to built a tank infront of their office coridor.
They launched SR project at their office, how about the other projects? When did they launch the “parcel 1” project and Garden Valle? Why there are not many ppl know about the launching and have you seen ppl Q for day n nite for other projects?

@WTH

Good luck! Cause I still haven’t sign the SPA, hope that you will get your dream house very soon, may be 10 more years, or not even car parks is going to build. Golden Triangle already built for 2 1/2 years just for 1 floor, how about 31 floor SR? If calculate 2.5 years for 1 floor (base on minimum year calculation), your grandchild will own the house if no delay.

@upsetguy
Cancel your booking now, and go ahead to buy the house had already built. Or may be i’m wrong, you may still think about the a house come with complete facilities and the price as low as RM330/sqft. If yes, Good luck to you. However, I believe you should be afford to pay RM400/sqft for better project with similar facilities and same unit size. Keep your spirit until you get your dream house come true at the end. Do not give up, i will support you #_#

WTH :
@upsetguy
Cancel your booking now, and go ahead to buy the house had already built. Or may be i’m wrong, you may still think about the a house come with complete facilities and the price as low as RM330/sqft. If yes, Good luck to you. However, I believe you should be afford to pay RM400/sqft for better project with similar facilities and same unit size. Keep your spirit until you get your dream house come true at the end. Do not give up, i will support you #_#

wait a bit longer and if things don’t improve, there may be panic selling by Golden Triangle buyers. Can sapu as many as you want..

@wbk2
Fully agreed. Added the economic crisis will come. This is very normal in economic sense, 90% of peoples talk the same(that y 90% of peoples in the world still holding liabilities/dept that eat up your hard earn money)!!! When the time come, money is king. Like warren buffet said, he is busy during economic crisis because this is the great time to buy cheap and good company just like buy a house. Remember to store your bullet kau kau. The Light project may be cost you RM250/sqft that time. So wish those hope this happen, decision is yours and no one can decided for you, good luck

BankersFren :
Insider news says that this developer has past experience with CASH FLOW problem.
Risk Assessment from PBB has classified this project as high risk.
Please give a call to your PBB banker to confirm now.
Other banks, i will find out Maybank from my friend soon. Others, can anyone help?
If 2 banks confirmed this news,,, better watch out and take note….

Hey is this true?

PBB bank pulling out from the project and the building progress is super slow?
Are all these just a mere coincidence?

@shock!!
bro, there not coincidence in the world.
the only coincidence was created by ppl !!

What the reason SR Residences cannot get developer license? Anyone call up and ask developer on this?

Look at the positive side abit lar… compared to Arena, I think SR still in a slightly better position lo… Arena dragged for so long but ended up with an extra bus interchange… hehe…

And only Affin bank currently offer loan to its buyers… should feel worried if you bought there… hopefully SR won’t end up like that lar…

Seeing SR sales advertisement in newspaper for this week Gurney Plaza Property fair.
Just left 8 units only.

just receive new inform… all offer letter need resign, due to developer change the lot# from A, B, & C type to 01 only.. example C10-10 to 0110-10.
so S&P i believe also need resign also.

@upsetguy
You are very rude people, no class at all. Hope one day you can live with money in jungle in next 10years. Dun be so upset, at least the monkeys will accompany you. I’m not hurry to get the key, 5years i also can wait. May be you are different…..acting like monkey but can write English.

@upsetguy
You are the professor of monkey already, you should have your answer yourself. Do not act like monkey to ask the question already got the answer. Normally monkey will do that. This is the word return to you. This the input from you and output for you. Do not act like monkey again.

Gsd land plan for so many project in one short…..this,developer will become rish n popular if the economi ok..but if opisive the economi down all the project will be drop……

Lim :just receive new inform… all offer letter need resign, due to developer change the lot# from A, B, & C type to 01 only.. example C10-10 to 0110-10.so S&P i believe also need resign also.

@Lim
Do you mean the previous offer letter & S&P will be voided? This time I definitely WILL NOT sign again the S&P & offer letter unless GSD provide solid evidence on license and site plan, floor plan etc. Can we cancel the checque for downpayment since the previous S&P voided? Can share more info and advise?

@Jane
I think the cheque is kept by the lawyer and not yet been deposit. You can just cancel the cheque if the SnP is not valid. The SnP you sign is not valid because it do not have developer license number and ADPL number based on lawyer statement. So, i think we can withdraw but I am not sure.

Confusing. …shall sign the snp or just drop n just buy old property????

the news to resign SnP izzit real, why i do not get any phone call for that. I hope I can resign SnP cause i dun wan to buy already this project. Now my money is stuck there.

@GG
I say resign offer letter, due to some DOC change..
i no say resign S&P…

@Lim
offer letter, confuse… what offer letter? SnP no change meh, diao lo this time. Stuck there liao my $$$

offer letter from RHB bank.. S&P also need to change if not it will not match. and bank not will give money

So this mean all the doc from Bank and Devloper will be redo and resign?

I think Lim just resign the RHB bank offer letter, Lim also no resign SnP. Our money now just stuck there without progress for this project which is bad. The public bank headquarter don’t want to involve in this project already, cause the developer do not have any license for this project. I now am weird, why no license developer take our 10%. I think we can take back our 10% anytime since the SnP is not a valid one. Any person here success withdraw from the purchase after signing the SnP?

I still have not pay the 10%, only 5k booking fee stuck with developer. I also didn’t receive any calls from RHB and developer about resign matter. I will make a call to RHB and developer to confirm by next week.

I receive a call from RHB to resign the offer letter, they said due to the changes of the lot #.

I called up the lawyer to confirm the SPA already, they said took about 2-3 weeks to get my cheque returned

@annieliew
you sign SnP already and you want withdraw and you mean you can get back cheque and just forfeit RM500? Can I have the lawyer contact?

How many people plan to withdraw?

I think is best those that wish to withdraw call gsd and speak to Joan. She can help to prepare letter of cancellation.

read the latest property talk in 14th July….publish out all developer investment cash plan, the developer included SP Setia. IJM…… but never mentioned about GSD. Why? Instead of this developer have many new project now ….. ???

Thnaks and appreciated all sharing here……anyhow, how many % people alreday withdraw the money ….and how many % people to stay with the project? I cant make up my mind to drop or to continue……need more advise from friend here, pls

for those people have extra money can stay, is a risk but is a investment. But for those just buy for the first house …better reconsider……

Hello……dont think so negetive….. got money just wait ….can invest but the project will sure delay

i just went there this evening, i saw the piling machines already inside the construction area.

I will still continue to hold my unit. The reason is simple…i could not see any new freehold project which is cheaper than SR…hopefully my decision is the right one…cross my finger…

One Imperial look like a good buy, location wise is better than SR. The price different is not big.

@GG
$70psf is not a big different?

@GG
Rich GG

Hi Still available?

@Carin
Hi is not available here. For SR unit, some ppls will release their unit soon. But still alot of ppls already put their name under waiting list, heard over 100ppls. So go to put your name under the waiting list.

LOL, this forum ppl very sensitive on figure. Say a bit cheap or expensive keep on shooting… Life so stress for you all ? Feel pity for you all…

I think only Pen and myself hv replied you, not all lar. Why put everyone in water, haha sound like shooting you. No lar we are very positive, have fun here but don’t put too much concern on pointless comments ok. Enjoy here else i will feel pity for you then.

@GG
It have different between SR and one Imperial…with similar purchase price, i get 1182sqft SR units @ high middle floor wheares One Imperial only for 1050 sqft somemore this price only for the lowest floor. furthermore, we still don’t know whether this unit still available during launching…Last point is that the reputation for Ideal developer is bad…this developer is famous to delay their projects… thats why after think twice, i still decided to continue my SR unit.

@Alex
One Imperial so high density, ~780 units sure got a lo left lah..somemore later got One Imperial 2… Yes, Ideal famous for delay, but compare to GSD don’t know which one more famous now lor…hahaha..

@Crystal Ball
For me, both of them (GSD and Ideal) are having same problems now…we as the buyers are the victims…don’t you think so???

cl :
Seeing SR sales advertisement in newspaper for this week Gurney Plaza Property fair.
Just left 8 units only.

WTH :
@Carin
Hi is not available here. For SR unit, some ppls will release their unit soon. But still alot of ppls already put their name under waiting list, heard over 100ppls. So go to put your name under the waiting list.

some said still got 8 units left in property fair, some ‘heard’ over 100 people in wait list to buy… sales figure also got multiple version like the APDL approval story…so which one more believable???…hehehe…

Thsi project really slow………… from booking till now alreday > 6 mths…. since the day developer ask to sign S&P till now > 3 months…..then now BANK still on hold awtg documents from GSD

Advise given to GSD to drop the shop lot idea in SR …… many sucessful Quality Condo without shop lot. Many shop lot empty ….no one rent

dear all
I have 2 fren already cancel the 900sqf SR unit but when i went to property fair
testing the sales gal by asking them is there any 900sqf unit available.they reply so far no ppl cancel.I was thinking they are hiding something behind that make most of us keep on guessing.

@Crystal Ball
What are the left over units? pan-house or unit beside to emergency stair or water pump? I had read about comments lar. What really people put their name are on the unit they prefer? Mostly, i believe for the 900 and 1000sq/ft. However, i will not cancel my unit. So far, everything still fair to me because i will not compare this project with those reliable developer, like IJM, SP Setia, E&O, Boon Siew….

@TL
No need to waste your time to ask the sale gals lar, you won’t get your answer correctly. Even IJM, they will tell you their project in hot sales even only 40% units booked. Sales ppl hv different thinking compare to engineer. engineer prefer something is clear in paper, else they will not trust or panic after the put their money.

@WTH
like

WTH :
@TL
No need to waste your time to ask the sale gals lar, you won’t get your answer correctly. Even IJM, they will tell you their project in hot sales even only 40% units booked. Sales ppl hv different thinking compare to engineer. engineer prefer something is clear in paper, else they will not trust or panic after the put their money.

yalor, sales person have different understanding/definition about the term ‘sold out’ and will always make you confuse what are those units for sales in property fair… Better listen to the bankers, they may have clearer answer for you…

funny~i’m ask in their office and ask in fair~both give me different information 😀

This is Malaysia Boleh ma. Ops 1 Malaysia now, double standard.

ADPL obtained? or any target timeline.. call in to office and get feedback ADPL still not obtained yet…

I just called SR developer 5minutes ago. the ADPL obtained already. Those units signed with 2 agreements will remain the 2 agreemnt, no change. They will start the piling job by next month, then they will stamp the SPA after the piling start. I also called my bank agent as well, we no need to resign the SPA and just need to resign the bank agreement. This is due to the bank miss taken to put Type A as block A, Type B as block B and Type C as block C. Sound like SR project will split into 3 blocks instead of 1 block for 3 types. The unit number will be change as mentioned by someone before by additional 01- then. I didn’t see there are any problems to resign the bank offer letter.

Hope this information help for all SR buyers.

@WTH

Dear WTH,

What is ADPL? TQ

@WTH
You mention that it will split to 3 block, that means the building layout will be change rite?
So in SnP they need to revised the building layout? In SnP the units written as example A1, so now change as 01, so they need to revised the SnP?

@YAPP AH LOY
Hi sorry, that means the bank mistakenly written it as BlOCK.

@WTH
T_T it mean 2 agreement buyer is at disadvantage when bank release the loan to the bank cause it will be more than 1 agreement buyer. WTH thanks for the info.

Anyone get loan from public bank sign agreement letter already or still pending. Is it public bank no approve for this project?

u may call to PBB finance dept. ask again~2 weeks ago i’m asked is still not approve~

lina :
@WTH
You mention that it will split to 3 block, that means the building layout will be change rite?
So in SnP they need to revised the building layout? In SnP the units written as example A1, so now change as 01, so they need to revised the SnP?

@WTH can you advise on lina’s questions? need to calibrate with you. dunno whether your definition on “approved” same as engineer or not. Or you just hear from some sales person?

Hi,
Can anyone know if after singing an snp, for how long is the duration to have the bank agreement sign?

Cause I am still waiting for the offer letter from Maybank as they mentioned that the bank still pending for the car park lot number and can’t have the offer letter prepare.

Can I know have anyone already got the offer letter of loan agreement from Maybank?

I would be very much appreciate if anyone of you able to share with me for my question.

By the way, can I know is there any other banks besides RHB having the offer letter and loan agreement prepared? Please advise.

@lina
Current bank offer letter mentioned A-xx-xx, B-xx-xx, C-xx-xx A=01, B=02, C=03. Confirmed by both RHB and GSD office

@TL
Not sure what you mean of “approved”

@Desmond
Maybank only will proceed the application for the unit come with 1 agreement only
RHB no problem to proceed
Public, no idea. however i did received the offer letter about 1 month ago but 1 choose RHB
Hong Leong, most lousy service compare to the others bank.

WTH…
Why there are unit come with 1 agreement and some attached to 2 ageement? Why 1 project having 2 diffirent prcedure and why cant they Standard to only 1 type of agreement???
What is the diffirent between 1 agreement and 2 agreement? The 2 agreement is 1 for the unit and 1 for the car park right?
Thanks in advance and hope to see your information sharing here
Much appreciated

Hi all…
Do you guy having extra information about this project?
Total how many level?
Understand got 3 type….what type facing what view?
How many unit in 1 level floor?
How many lift available?
Maitainance fee?
How developer arrange the car park? Draw or follow the floor sequent?
What is the status of progress now? Which stage?
Thank you, thank you….

Notice that this project developer not strong in their $$ ……that why to many project on hand in the same timing. High risk!!
And also the activities running very slow…from booking till bank loan till S&P !
Further more occuring so many barrier during the processing..
Eg: 1/bank pending document from developer….
2/car park lot still not manage to arrange yet
3/Very limitted bank accpet this project…why?
4/The progress not follow the sequent….

Good discussion and sharing here….cheers up everyone !

Have 1 Question only here ,seek form your opinian…
if i have ~Rm300k budget, i should buy the subsale house (building>10 years old) good location or i shall purchase SR but only can move in after 3-4 years later??

Thanks a lot.

WTH,
You see…many people respect your pro view of point
Keep it UP

Hi Ong,
Is actually depend on the usage of the unit. If is for investment, then how much you wish to earn? New project easily can make profit bout 100k. Whereas sub sales is depending on the location n timing of purchase. You could earn the same, lower or higher. Personally, for now, i will choose sub sale cos I am holding the control. I call sell or rent whenever I want. But the drawback is some bank do not want to offer loan for property above 15years n many we buyer want new condo. Hence, knowing why and what you buy is important. Forego the negative thought and delay, SR is a good buy. Look at the regency heights area, How much is the condo for those >1000 sq ft? 400k? Just imagine, you are now buying SR at 400k as well but just paying the interest n d/payment ( approximately total of 45k ). comes 3 yrs, what will be our property price. I am sure it will shoot up. Ppl say that economy is going bad. Just think, will the cost of material n our daily goods or salary reduce? Then what do you think on property. Well, probaly it will drop a bit but those will only impact the condo which cost more than 700k cos the demand is lower..Anyway, this is just my personally thought.

@pinball323
2 agreements, car park more expensive. developer want get more money after they had completed the car park. Mean those unit come with 2 agreements will need to pay more interest. Actually no advantage to the buyer. I was one of the victim :). Why, someone said before, they might not hv strong cash flow.

@Ahseng
A face balcony face North. B and C, living area face South. Maintenance fee 0.15/sqft. Car park to confirm after stamp the SPA. License obtained, royal ask me to sign the bank loan agreement from RHB (my selected bank). Piling start on Aug, SPA will sign after piling started. Should be 4lifts, 320 units, #of floors–>forget

@uluorg
I’m just a SR buyer, a victim called by many of ppls here

@Maris
Agreed, inflation will go up more than 20% for sure and RM will depreciate by 20%++. Today is rm100k, next 7yrs(assume inflation 3%/yr, should be more in actual situation) will cost you rm120k+. mean you pay RM400k now, but you need to pay RM480k++ after 7yrs due to inflation itself. If you tight in other factors like corruption, labor cost, living standard, foreigner investment. The house price should go up to above RM500k++ easily. May be i’m too optimistic, but this is the real situation in Malaysia today. CORRUPTION is the worst influence for Malaysia economic today because CORRUPTION=COST. Someone hv to pay for the cost. Imaging RmXXXbillion disappeared in last 20yrs…..

WTH, need an advise from you, can I know is the bank will only release the loan to developer if they built until your unit?

@WTH
Hmm, why not they stamp the SPA 1st than start the pilling job, i am just afraid they might delay to start the pilling job.

@Desmond
The bank will release te money based on the % of completion of the project claimed by developer. The interest will calculate based on how much % of your loan release to developer. Most of the case, bank will ask you to pay the full installment once your unit completed/or after the root of the top floor done. But i need need to check with RHB.

@lina
I’m fully agreed, but i unable to answer ur question.
Remark: if the piling job started, the SPA need to stamp ASAP so that they can prepare to claim the money from your bank. Else their cash flow will be in trouble due to bank will not release the money if the SPA is still not valid.

hopefully they really start pilling by this coming Aug….

I think they will resume work on Golden Triangle first. Get some progressive payment from bank and try to catch up schedule. Sierra Residence can still wait, after buyers pay the 10% downpayment while SnP not stamp yet.

Golden Triangle project advertised in newspaper today for the showcase in Queensbay this week. How is the progress for Loan agreement signing?Or still pending for ADPL licence doc? Thanks.

@Zakarria
Golden Triangle is difference company, whatever same Boss, then also unable take the money to invest in there. but is possible for Summertons.

i see some pilling work started for SR…

Can some 1 create 1 facebook account to update all Picture to share to every one? – Just suggest if not good please just forget it.

kenny :
i see some pilling work started for SR…

No APDL how to get ground work permission to start pilling? How-Siow lah…
Arena just recently got the ground work permission after so long. This one cannot be so fast.

Summerton still have a lot units left la.. went to the office yesterday…

@Pen1
Royal firm and my Bank agent confirmed the license obtained. now just left the stamping on the SPA document and sign off the bank loan agreement. So pls do not how-siow lar. I rather trust my bank agent and royal firm.

Looks like everything move smoothly. i plan to buy one unit for own stay, anyone can advice whether still have left unit?

Pen1 :

kenny :i see some pilling work started for SR…

No APDL how to get ground work permission to start pilling? How-Siow lah…Arena just recently got the ground work permission after so long. This one cannot be so fast.

huh…Pen1 is so rude…how siow pula…:)

@WTH
Royal Firm ?? What the heck is that ?
Legal Firm / Lawyer Firm !!

Yibby :@WTH Royal Firm ?? What the heck is that ?Legal Firm / Lawyer Firm !!

I think what WTH said is his lawyer is royal to him. So he calls his lawyer as royal lo

Sorry for the wrong spelling *_*
Thank you for correction

WTH….as a SR buyer …we really respect and thanks on all sharing here

Thanks WTH …mean that the 2 agreement is a must alreday. No choose.

A face balcony face North. B and C, living area face South. Maintenance fee 0.15/sqft. Car park to confirm after stamp the SPA. License obtained, royal ask me to sign the bank loan agreement from RHB (my selected bank). Piling start on Aug, SPA will sign after piling started. Should be 4lifts, 320 units, #of floors–>forget

SPECIAL THANK YOU TO WTH …ON THE VALUEBLE INPUT
Which floor you booked ? Infuture can go to your house to say thank you

After reading all the comment…..im personally felt that can go ahead to book one unit SR now !!!!!!!!!!!!!
: )

Everyone agree ????? Pls LIKE if your agree.

YES!!
Go go go….but if your have money go for IJM or Setia better lohhh

Kam Sia to all of your comment

All updated 1530 item list…… score higher comparing with other project forum. Wakakak
velueable good and bad comment and sharing opinion !!!

hey, how about the change of building layout? It is split into 3 blocks but never reflected in the S&P? will our chosen units layout or location affected? Totally no idea what is going on here.

@CTL
who say building layout change?

@Lim
I refer to WTH’s info

lina :
@WTH
You mention that it will split to 3 block, that means the building layout will be change rite?
So in SnP they need to revised the building layout? In SnP the units written as example A1, so now change as 01, so they need to revised the SnP?

@CTL
that is lot no# change, not build layout change…

Lim :@CTL that is lot no# change, not build layout change…

CTL, i get it wrongly, actually what WTH meansm in bank agreement previous they mention as block 1, 2, 3. which suppose to be just one block, thats the reason why need to sign the bank agreement again, after they amend it. So it is just one block only.

Ah seng : A face balcony face North. B and C, living area face South. Maintenance fee 0.15/sqft. Car park to confirm after stamp the SPA. License obtained, royal ask me to sign the bank loan agreement from RHB (my selected bank). Piling start on Aug, SPA will sign after piling started. Should be 4lifts, 320 units, #of floors–>forget

Is that mean the car park lot number only able to obtain after the stamping of the SPA? Looks like we only have one choice for bank loan cause Maybank offering letter only able to proceed with car park lot number with 2 agreements.

WTH,

Can I know is the AP obtain for SR? Cause I ‘ve heard from the banker that the developer still pending with their AP license.

Hi All,

The one that you saw on the side which refered to as pilling started actually is foundation only.

Thank you for yours support. My comments are just based on my personal review refer to my own survey from peoples around and internet. Also, i was spent 4years to find a suitable house but end up i need to pay extra 5-7% for every year i spent to my targeted condo. The risk is there, that why someone have to pay for the premium once the OC obtained. All bad and good opinions just to give SR or potential SR buyer a reference for yours decision.

@Desmond
“Looks like we only have one choice for bank loan cause Maybank offering letter only able to proceed with car park lot number with 2 agreements.” CORRECTION: Maybank will only proceed the units came with ONE agreement. For those units came with 2 agreements, so far i think RHB and Public bank(Bagan Ajam, not other PBB branch) can support.

RHB and lawyer firm told me the license obtained. I will call lawyer firm to confirm again. Anyway, i’m not hurry need the house to stay. However hope the project not delaying too much

Hi WTH,

Can you provide me the info for Bagan Ajam PBB, thanks.

@Desmond
Ms They
0124106838
theykiawfi@publicbank.com.my

I received an offer 1 month+ ago but i choose RHB. She is my contact from PBB

Thanks WTH

anyone taking bank loan from ambank? if yes, what’s the rate? which one better? rhb or ambank?

Is ambank is panel? i have checked with them few weeks ago, they are still pending approval headquaters.

Any news from Public Bank Bagan Ajam ? They still panel?

for those unit with 2 agreement only able apply with RHB or HLB, but HLB quota already full…that mean ONLY can apply RHB only..I’m now in progress applying RHB….i think by next week can know the result…really sianz….

@WTH, are you sure PBB can proceed for your loan application?
May i know your unit is above 18th floor or below?
coz as i know if your unit is below 18th then will seperate to 2 different agreement which Maybank and PBB can’t proceed….pls advice

@JS
Below 18. I got PBB offer letter 1month+ ago but i choose RHB. The offer letter from PBB was approved by hq at KL. I got both offers within 10days(included weekend) after i submitted my documents. For latest status of PBB, i hv no idea.

hi
who likes to let go unit for 900sft .please contact me 012-4632884 .

May :hiwho likes to let go unit for 900sft .please contact me 012-4632884 .

Most of us have signed SnP liao la.wait for another 3 years until OC obtained then I sell to u

very slow and high risk project….gsd

withdraw the 5k from developer…………

see some stone and pile at the side, seems like this month they will start pilling work… Anyone have sign their loan agreement…

GG, you haven’t signed?

@pg boleh
yea, i haven’t sign. I apply for PBB and seems like they are not accepting GSDLand project. So, now trying for Maybank but need to wait the developer to allocate for car park lot. no. only Maybank will proceed with the loan approval. Only RHB bank i think approve this project loan which i think RHB bank is not strict enough in giving loan, anything the loaner need to bear themself while PBB/Maybank a more reputable bank are more careful in the loan processing.

RHB is KWSP Top 2 investment in KLSE market, http://www.szehau.net/2010/08/top-30-equity-investments-by-employees-provident-fund-epf-in-bursa-malaysia/

KWSP is the major share holder, holding 55%. What do you think about RHB cash flow, to me it is unlimited unless all the workers lose their jobs.

WTH, you are a salesman from GSD right?

I’m a victim

@WTH
Do you know why others bank reject this project while RHB accept it, PBB even can approve for small Tunas Muda project but not this GSD project. Just the risk assessment by those bank is different i think not about the capital they have, RHB bank will approve any loan even the developer have problem, while PBB is more careful in approving loan based on background of developer. What do you think?

I’m fine with the risk, that why i put myself as a victim

GG :see some stone and pile at the side, seems like this month they will start pilling work… Anyone have sign their loan agreement…

I signed since 1 and half month ago…

@Alex
You also signed with RHB bank. Anyone else get bank loan from others bank beside RHB

They just start testing for piling work.
So bad PBB not participate as i need to find another Panel bank for loan

They won’t get the license to start the project if they failed the test during audit from gov

GG :@Alex You also signed with RHB bank. Anyone else get bank loan from others bank beside RHB

Yes, i signed with RHB bank.

H@n :They just start testing for piling work.So bad PBB not participate as i need to find another Panel bank for loan

What do you mean by testing for piling work?

Try to call Ms They (PBB ) this morning….she told me that PBB alreday DROP this project.
Anybody know the actual reason or not?
This project do not provide full valid documents?
This project developer $$$ not strong enough?
This project not follow the correct proceduce?
This project have a bad history ?

what testing? Piling work need to testing?

I didnt see other developer like GSD…..so many problem and delay!!!!!!!!!!!!!

lina :what testing? Piling work need to testing?

this is not me, sumone using my name…..

@WTH
I already call go and ask the gsdland office, they said they already obtain the developer license, just haven’t get the APDL. Now you all say test pilling to get developer license. Really WTH !!!

http://www.redas.com/einformation/pu/handbook/bca/99090702.htm
click link below
2 What types of building works will require approval of structural plans?

If the developer failed the test, they can’t proceed to next stage, the project will be delay. I would say this is the approval to proceed to next building job.

The HD license is only allow developer to start initial process. There are still more and more approvals needed before the project completed.

Ops posted Singapore law, Malaysia one should be similar. Try to find it and post later.

i’m confused

No need to confuse. After stamped the SPA, stick to 3years completion period agreed in SPA, let the experts to handle the laws matter. This is why we need pay so much moneys to the lawyer and Gov for their profession. For a buyer, our job is to buy, wait and pay back the loan. Risk and building progress are something we unable to control, just face it.

Did the developer say when will be the stamping date…

After the piling job started. They said in Aug.

I have purchased one unit….

Aug i hope is true, if we already sign SnP but not yet get any loan, SnP also can be stamp? it is individual stamping or whole condo units?

I hope too.

go google or yahoo search to get your answer.

just phone up them.. they replied that APDL still in process and stamp date not yet confirm

@kg
They already say this half years ago… LOL

Stamp date delay…..

Should Sign bank loan agreement first or sign S&P first?

Their website under construction

Is the same thing happen for summerton??

Yes, for sure, all it’s projects under construction; like the website!

@lina
Yes, before the piling job started, the website also under contruction

@Theycheeman@yahoo.com
This is the premium that someone need to pay for the 1st hand buyer

Good Luck!!

@WTH
Is there any other project from GSD Land also having 2 agreements?
Is Sierra Residences the only project that facing so many trouble? kindly advice

@Desmond
Yes, it is the only project facing so many trouble… Others projects do not have anything like this. PBB bank withdraw after finding out this project have a lot of problem. No others reputable bank wanna be panel for this project which have 2 agreements and the 2nd agreement is total disadvantage to the buyer. Better look up for others project than waiting for this. Platinum III look like a better project and tunas muda project rather than this gsdland.

@Desmond
no idea lol.
But their Oasis Residences, Relau almost completed. SR is the cheaper project under GSDland

@LaiLai
Rich LaiLai

Good Luck to all buyers.
Hope everything is work fine.
Otherwise, our 10% cheque will expire after 6 months from the issue date.

GG :@Upsetguy Yea, i also want to know how much we can get back. This is why i choose PBB compare to others bank because they will not simply give loan to problematic developer. Since now PBB withdraw from this project, I think we can start to call up developer and ask for refund. I think we can just cancel the cheque 10% payment for SnP since the developer said they will not deposit the money if the license is not approve and get back the RM5k forfeit RM500 from the developer. Previous property fair in QB, i still see around 10 units SR project unsale.

hi, do you know how come PBB will not release housing loan on this Sierra residence? i thought the developer has sold out all units now……

hi all SR buyers, if we pay deposit of RM10k for booking the unit, in case loan unsuccessful , they commited to refund RM9k to us, right? actually i m confused about the procedure now, as the developer said SnP need to sign within 2-3 weeks after paid deposit. but we still not yet to get loan approval from bank , does any impact to us?

No ADPL -> Can Piling work start?
No Piling work -> can snp get stamping?
snp not stamp -> can bank laon agreement be sign? For how long the house will be complete?

So Worry …….

me booking one unit too…… i just pay the rm5k for booking.
not yet sign S&P or Bank Loan…..which one shall i sign first if follow the sequent?
Pls advise. Thank You very Much

open booking since Sept last year….
they say project will be complete by beginning of 2014?
after view thru all comment above….i dont think the project can complete as committed by GSD.

@lina39
I signed the SPA after i confirmed my bank loan approved. Lawyer firm received my bank loan agreement and i going to sign. Last thing is to wait for duty stamping

@siew yong
open booking was 23Dec2012 and i book one unit at around 1pm.
I expect the completion year should be end of 2015. I do not think GSDland is comparable to IJM to complete a project in 2-3years.

I’m also just signed RHB bank loan, and plan to sign up the S&P on 25 August.

@lina39
If you are choosing RHB for loan, then it is ok, but for Maybank, I prefer to wait for the approver from the bank loan first, then only go for spa, the reason is you need to pay for the 10% after signing the spa and the bank loan still at the grey area, and of course, you still need to re-signing your cheque (if you pay via cheque) which is only valid for 6 months.

Hi,

Any update or progressive at the side? Kindly share the photos.

WTH and Desmond…
Thanks for the value info and advise…………

https://www.facebook.com/pages/Sierra-Residences-Penang/214188615377585
i just created the community page…..pls feel free to join for all SR future resident…
and let discuss or upload any latest info there.

That was a great new, the sign board of the project already there.

The signboard was there since one month ago, can see them test pilling now… Anyone here with HLB bank loan, any advise?

GG :
The signboard was there since one month ago, can see them test pilling now… Anyone here with HLB bank loan, any advise?

GG, I’m just signed up RHB loan on last Saturday and just called up lawyer firm to schedule the signing SnP date. Since already purchased so just think positive…haha..