East Ledang/ Ledang Heights/ Ujana/ Impiana community.

[Investor]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

No, due to state consent still pending, nothing disbursement from bank yet.

Wow that's a blessing in disguise, you've saved so many months of interest due to the delay.

 

[CameraMan]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Hi bro captainjones,

Did you check if UEM is charging you penalty for not paying on time?

My bank has yet to disburse money to UEM. haha... did save a few grands due to construction delay.

 

[captainjones]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

I have paid the upfront 20% installment on time. So, no penalty. The rest shall be disbursed by the bank to the developer. The first disbursement (15%) from the bank is upon the completion of the structural framework. I assume that the work hasn't been completed yet. Upon disbursement, that's when I will begin servicing my loan.

 

[chonburifc]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

sorry, posted on salah thread.

 

[CameraMan]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Ok. Just be aware that if the bank is late in disbursing the loan for whatever reasons, the developer can charge you penalty for the delay.

I have paid the upfront 20% installment on time. So, no penalty. The rest shall be disbursed by the bank to the developer. The first disbursement (15%) from the bank is upon the completion of the structural framework. I assume that the work hasn't been completed yet. Upon disbursement, that's when I will begin servicing my loan.

 

[captainjones]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Thanks bro. I'll keep that in mind. This penalty clause you mentioned is probably unknown to most purchasers.

 

[Investor]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Thanks bro. I'll keep that in mind. This penalty clause you mentioned is probably unknown to most purchasers.

No worries for this case of late disbursement due to delay in approval of State Consent.

The sales executive of UEM who handles my purchases did highlighted the late interest to me before. I've gone through the process of finding out whether or not they'll charge me late interest due to the late disbursement of loan from bank to UEM. An executive from UEM showed me a clause stated in the purchase agreement saying that we(purchasers) are not liable for late interest if the delay is due to developer.

Maybe when we get our keys, UEM's system 'might' show that we have late payment(such things are automated) and request for late interest from us. All we have to do, if that happens, is to show them the clause. I'll go home to check the page number which this clause was stated and reply it here for the benefit of you guys.

 

[Investor]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

By the way, there are delays in the applications of State Consent here in East Ledang's properties because of UEM as they are in the midst of a discussion with government's authority regarding foreign ownership limit for East Ledang. If successful, which UEM has high confidence in, there will be no limit on foreign ownership of East Ledang's properties in future.

 

[captainjones]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

No worries for this case of late disbursement due to delay in approval of State Consent.

The sales executive of UEM who handles my purchases did highlighted the late interest to me before. I've gone through the process of finding out whether or not they'll charge me late interest due to the late disbursement of loan from bank to UEM. An executive from UEM showed me a clause stated in the purchase agreement saying that we(purchasers) are not liable for late interest if the delay is due to developer.

Maybe when we get our keys, UEM's system 'might' show that we have late payment(such things are automated) and request for late interest from us. All we have to do, if that happens, is to show them the clause. I'll go home to check the page number which this clause was stated and reply it here for the benefit of you guys.

Excellent! You have been most helpful. Thanks.

 

[Investor]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Excellent! You have been most helpful. Thanks.

No problem at all. You've shared info too regarding your State Consent, remember?

 

[Grago]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

By the way, there are delays in the applications of State Consent here in East Ledang's properties because of UEM as they are in the midst of a discussion with government's authority regarding foreign ownership limit for East Ledang. If successful, which UEM has high confidence in, there will be no limit on foreign ownership of East Ledang's properties in future.

I spoke to the Sales manager about this and was told that the apparently Medini has already gotten it's state consent and it won't be long now before the applications are approved!!!!!

 

[Investor]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

I spoke to the Sales manager about this and was told that the apparently Medini has already gotten it's state consent and it won't be long now before the applications are approved!!!!!

That's great! Thanks for sharing.

 

[captainjones]

do you know what is the price the owner looking to sell? which uem agent to contact with? thanks..

Not sure how much the owner wants to sell, but definitely higher than the purchased price. You can drop an email to Serena ([email protected] ) for more information.

 

[captainjones]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

I spoke to the Sales manager about this and was told that the apparently Medini has already gotten it's state consent and it won't be long now before the applications are approved!!!!!

Sounds good. I am looking forward to it. Cheers!

 

[Investor]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Excellent! You have been most helpful. Thanks.

Ok I've just checked my records, please refer to Clause no. 9 of our Sale and Purchase Agreement which explained about Interest for late Payment.

 

[captainjones]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Ok I've just checked my records, the Clause on Interest for late Payment is stated in Clause 9 of our Sale and Purchase Agreement.

Cheers bro, it reads in my S&P too. No damage shall be done.

 

[captainjones]

Not sure how much the owner wants to sell, but definitely higher than the purchased price. You can drop an email to Serena ([email protected] ) for more information.

For the end lot in phase 8, the owner will let go at RM1.25M. Also note you cannot buy now but can secure the unit privately till it completed.

 

[IskandarRocks]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Ok I've just checked my records, please refer to Clause no. 9 of our Sale and Purchase Agreement which explained about Interest for late Payment.

Hi Investor, same issue with Melody Park as well. Construction in full swing but no drawdown from bank. I believe UEM has a meeting on Monday to sort this out. I will keep everyone posted in case I hear anything.

My lawyer believed that most likely the levy will increase to RM 30k but not before June. Hopefully, this will get sorted out before that. In any case, you all are right, interest savings have not been bad at all as I signed the s and p agreement in May last year and have not paid any interest.

Cheers,

IR

 

[Investor]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Hi Investor, same issue with Melody Park as well. Construction in full swing but no drawdown from bank. I believe UEM has a meeting on Monday to sort this out. I will keep everyone posted in case I hear anything.

My lawyer believed that most likely the levy will increase to RM 30k but not before June. Hopefully, this will get sorted out before that. In any case, you all are right, interest savings have not been bad at all as I signed the s and p agreement in May last year and have not paid any interest.

Cheers,

IR

Hi IskandarRocks,
Good to hear from you again. How's the progress of Imperia?
Oh your lawyer knows about the RM30k levy? Everyone else from UEM to my lawyer said they did not know anything about it. Can you ask your lawyer for his source of info? I'm worried that we might end up paying RM30k levy if UEM can't settle their issue before the increase of levy by government.

 

[IskandarRocks]

Re: Very Important! Anyone bought East Ledang's Phase 7 terraces?

Hi IskandarRocks,
Good to hear from you again. How's the progress of Imperia?
Oh your lawyer knows about the RM30k levy? Everyone else from UEM to my lawyer said they did not know anything about it. Can you ask your lawyer for his source of info? I'm worried that we might end up paying RM30k levy if UEM can't settle their issue before the increase of levy by government.

I already did. There are 2 authorities involved. First one recommends and the second one approves. Apparently, the 30k levy is already recommended and in the hands of the approving body.

Now, this is my lawyers personal opinion - given that the levy has not been revised for a long time and the property prices have gone up significantly, the approval will most likely go through.

Also, based on her past experience in terms of how long it take for approval to go through and implemented, she is estimating June. Of course the outcome and timing may be totally different.

I can see why UEM is being a bit discrete. They do not want to cause panic and resulting flurry of enquiries. Let's just hope that they sort this out sooner than later.