Extra Payment for Area Size Strata Title

butthead76 — Thu, 29 May 2014 08:44:07 +0800

Is this a common request by developer? This is 1st time for me seeing this.

The Star

No extra payment for condo buyers

by qishin tariq

PUTRAJAYA: Some 50 house buyers can breathe easy now that the Federal Court has put to rest a case where a property development company was demanding they pay extra for their units, resultant from the difference in the actual built-up area and the (estimated) area.

A five-member panel chaired by Court of Appeal president Justice Md Raus Sharif unanimously denied Ken Property Sdn Bhd leave to appeal against a prior court order that 57 residents of Ken Damansara Condominium do not have to pay the adjusted price demanded by the developer upon issuance of their strata titles.

Lawyers for the buyers disclosed yesterday the decision made on May 20.

The decision put an end to Ken Property’s attempt to claim the difference in purchase price based on the difference in the actual built-up area and the (estimated) area stated in the statutory Sale and Purchase Agreement (SPA) under Schedule H of the Housing Development (Control and Licensing) Act 1966.

It was reported that the claims against the 57 unit owners ranged between RM2,000 and RM10,000.

The panel – whose other members were Chief Judge of Sabah and Sarawak Justice Richard Malanjum and Justices Suriyadi Halim Omar, Zaleha Zahari and Ramly Ali – also ordered Ken Holdings to pay the residents RM10,000 in costs.

The buyers were represented by K. Shanmuga and Azira Aziz while Datuk Loh Siew Cheang, Brian Foong and Eolanda Yeo appeared for Ken Property.

On March 17, 2011, residents of Ken Damansara filed a suit against Ken Property for a court declaration that they need not pay an adjusted price after having agreed to a lower amount in a prior SPA.

They argued that since there was no difference between the floor area stated in the strata title and the building plan, no question of adjusted prices arises.

On June 14, 2013, the Shah Alam High Court ruled in favour of the residents, saying the Adjusted Purchase Price is to be measured based on the difference between the approved building plans and strata title, without reference to the area stated in the recital of the SPA.

Justice Dr Prasad Sandosham Abraham also ordered Ken Property to refund money paid by 31 plaintiffs from 22 units with regard to the adjusted price.

The judge further ordered the defendant to execute the Memorandum of Transfer to the 57 plaintiffs (who own the 40 condominium units) and to pay RM40,000 in costs.

Ken Property attempted to reverse this decision in the Court of Appeal, but had its application denied with RM15,000 in costs on Nov 20 last year.

Withdrawing EPF for Second Property

butthead76 — Thu, 27 Feb 2014 20:42:33 +0800

Anyone did withdrawal from EPF for their 2nd property after selling the 1st property and you have others properties in hand? Is this allowed? As per EPF rules, they say not for 3rd property, meaning no withdrawal if got other properties or max withdrawal per person is 2 properties in a life time?

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Extra Payment for Area Size Strata Title

Withdrawing EPF for Second Property