Do not pay beyond 50% until property fully redeemed by developer

It sounds incredulous, but banks had initiated foreclosure proceedings against homebuyers, not because the latter had failed to pay their instalments, but to recover loans which their developers had defaulted! And this was legal because the developers had secured their loans by using the purchasers’ houses as collateral! The crux of the problem was that the Housing and Local Government Ministry’s (KPKT) prescribed sale and purchase agreement (SPA) allowed developers to build houses with the instalments of the purchase price paid by purchasers from the day the SPAs were signed.

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Flat Seri Kedah's painting work to be completed soon!

KUALA LUMPUR (Sept 12): Sayangi Rumahku will see the completion of the refurbishment work at Flat Seri Kedah public housing scheme (or Perumahan Awam Seri Kedah) in mid-September! The painting work started from Sept 5 and was set to be completed by end-September, owing to prevailing weather conditions.

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