Driven by the surge in demand for the King of Fruits, the transacted prices of these lands in durian-growing hot spots such as Pahang and Negeri Sembilan have skyrocketed since 2013.
The Joint Management Body (JMB) or MC could assist in the process of applying for the strata titles by liaising with the appointed liquidators/developer on behalf of the owners or to bring this matter up to the respective Land Office for consultation and to file a complaint against the developer so that the relevant authority may prosecute the developer.
S P Setia secured about RM1.9 billion new property sales (excluding land sales of RM87 million) in 1HFY19 versus RM2.1 billion in 1HFY18, with the majority of new sales coming from the central region (about 60%) of Malaysia.
Sited on 6.5 acres of freehold land, The Tropika @ Bukit Jalil is a RM781 million GDV mixed development of residential and commercial components.
For a start, Bukit Jalil is easily accessible via major highways such as the Damansara-Puchong Expressway (LDP), Shah Alam Expressway (KESAS), Maju Expressway (MEX), New Pantai Expressway (NPE) and the toll-free Bukit Jalil Highway. It is also well-served by public transportation with Rapid KL bus and four Light Rail Transit (LRT) train stations within a 3km radius: Bukit Jalil, Awan Besar, Sri Petaling and Muhibbah.
While you may be told that the funds are being used to maintain the common property of the development, have you as an owner ever checked to ensure the funds are being appropriately used for the purpose specified under the Act? Do you know that there is a provision under the SMA 2013 which tells you exactly what the sinking fund can be used for?
There are mandated periodic inspections stipulated by various authorities after the first and/or second year of Vacant Possession.
The group declared a semi-annual dividend of 3.43 sen per unit (1HFY18: 4.23 sen) going ex on Aug 22, 2019.