Puteri Harbour Community

[Funniman]

Anyone have any experience with the SCB on Teega Loan? I secured a loan with SCB for Teega with DIBS. Developer asked for second 10% from SCB in Nov 2013. After numerous calls made to SCB to enquire, finally the loan officer replied that the loan started since Jan 2014... however yet to received any letter from SCB. Anyone received any letter from SCB re loan stuff?

As far as I understand that under DIBS, the developer pays for the monthly interest to the bank till the completion of the project. Does anyone know if the developer pay directly to the bank or deposit the money into our loan saving ac ...???

DIBS doesn't work like this la. You have to pay the difference between the loan and the SPA price first. Then only the loan kick in. Loan is drawn down as progress payment from bank to developer directly on behalf of borrower. The interests for this drawn down in the borrower's account is borne by the bank. The bank don't charge the borrower the interests. What they do not tell you and it is not related to you is the quantum of interest that is agreed between bank and developer. Maybe the bank give special rate to developer in return for the bank to be in the approved panel? Or the bank already is the main financier of the project?

 

[menghuii]

DIBS doesn't work like this la. You have to pay the difference between the loan and the SPA price first. Then only the loan kick in. Loan is drawn down as progress payment from bank to developer directly on behalf of borrower. The interests for this drawn down in the borrower's account is borne by the bank. The bank don't charge the borrower the interests. What they do not tell you and it is not related to you is the quantum of interest that is agreed between bank and developer. Maybe the bank give special rate to developer in return for the bank to be in the approved panel? Or the bank already is the main financier of the project?

u r right. just make sure the diff (spa and loan) is made in time to the developer else the loan cant be activated. as for what benefits the developer & bank have, is not our concern.

 

[cupcakes]

DIBS doesn't work like this la. You have to pay the difference between the loan and the SPA price first. Then only the loan kick in. Loan is drawn down as progress payment from bank to developer directly on behalf of borrower. The interests for this drawn down in the borrower's account is borne by the bank. The bank don't charge the borrower the interests. What they do not tell you and it is not related to you is the quantum of interest that is agreed between bank and developer. Maybe the bank give special rate to developer in return for the bank to be in the approved panel? Or the bank already is the main financier of the project?

Thanks Funniman. The diff between loan and SPA already been settled. Loan started in Jan 2014(mine is 90% loan) The interest is borne by developer in my case of DIBS. The most worrying part is the DIBS not mentioned in my SPA or loan agreement ! Called lawyer this morning...their stated it is under DIBS but they did not furnish to the bank. I don't remember seeing or signing the DIBS letter....Now she is searching for it!!

So for anyone under DIBS pls ensure you have the black and white copy and your bank is aware of it ...if not...bank penalty for late payment is gonna be a huge sum (due to insufficient amount in loan sav ac).

 

[Funniman]

Thanks Funniman. The diff between loan and SPA already been settled. Loan started in Jan 2014(mine is 90% loan) The interest is borne by developer in my case of DIBS. The most worrying part is the DIBS not mentioned in my SPA or loan agreement ! Called lawyer this morning...their stated it is under DIBS but they did not furnish to the bank. I don't remember seeing or signing the DIBS letter....Now she is searching for it!!

So for anyone under DIBS pls ensure you have the black and white copy and your bank is aware of it ...if not...bank penalty for late payment is gonna be a huge sum (due to insufficient amount in loan sav ac).

Many times, buyers are told verbally about DIBS, discounts etc etc but nothing in black and white. The official record is not supposed to show these freebies. So you will never find any records in the official documents. All you have is a plain looking letter, often not even on their letter heads about these freebies but signed by the developer and accepted by buyer.

 

[kopikong99]

I heard from my agents that Puteri Cove Tower 2 and Vantage Bay are gota be launched soon. Prices are at least 10-20% higher than the Tower 1

Went to PH last weekend for makan and I was pleasantly surprised that the crowd at the indian food cum bar is amazing. The seats outside are almost taken @ 9pm. Just 1 year ago I was the only one having my dinner there and its like 7 staff attending to one customer.

Went to visit the UEM Sales office last weekend. Saw that there are 4 units at low floor available as Buyers could not continue the purchase as loan is not approved. Understand from the Sales staff that these units (facing Almas or linear park) are being offered for sale to public at around 900 psf now. Prices have moved and are now at around this level now for Teega selling by developer.

 

[SuteraUtama]

May I know where is the UEM satellite club house Puteri Harbour ?

just walking distance from Traders Hotel ?

 

[malpaso]

DIBS doesn't work like this la. You have to pay the difference between the loan and the SPA price first. Then only the loan kick in. Loan is drawn down as progress payment from bank to developer directly on behalf of borrower. The interests for this drawn down in the borrower's account is borne by the bank. The bank don't charge the borrower the interests. What they do not tell you and it is not related to you is the quantum of interest that is agreed between bank and developer. Maybe the bank give special rate to developer in return for the bank to be in the approved panel? Or the bank already is the main financier of the project?

further to what you wrote, if the developer is cash rich, they won't even draw down the monies until much much later for those under DIBS scheme. so no interest is actually accrued.

 

[PuteriWorld]

Yes its next to Traders hotel and on the 2nd level facing one open air carpark and Singapore straits

Now at least can still see Singapore clearly. When all the modern condos TOP in 2017, I believe Puteri Harbour will be a dream come true for Iskandar Malaysia as its the Heart of Iskandar. Even Vantage Bay do not enjoy that kind of status

May I know where is the UEM satellite club house Puteri Harbour ?

just walking distance from Traders Hotel ?

 

[Aviator]

Is there just one single road leading into Puteri Harbor? I wonder if there will be a lot more roads in future when all these thousands of luxury condos and high-end landed are TOP plus all those crowd going to Hello Kitty and all the cruise center, etc. Wont the traffic be horrible as the roads are just 2 lanes? A dream come true or a nightmare to come?

 

[PuteriWorld]

I am quite sure they will come up with another road from the Emerald Bay side. Or do they already have it?

Is there just one single road leading into Puteri Harbor? I wonder if there will be a lot more roads in future when all these thousands of luxury condos and high-end landed are TOP plus all those crowd going to Hello Kitty and all the cruise center, etc. Wont the traffic be horrible as the roads are just 2 lanes? A dream come true or a nightmare to come?

 

[Serenity]

Latest from Google Earth, looks like the road planning is up.

 

[PuteriWorld]

Counted 6-7 main roads leading into Puteri Harbour and many other artillery road. No wonder they always hype that PH is the "Heart" of Iskandar and investors are pouring millions and condos are enjoying sold out sales almost all the time. When I first visited PH a few years ago, the only living thing in the whole area was a security guard who felt threatened at my arrival at 11pm. . Every year I will make it a point to visit this place twice and every 6 months I was swept away.

 

[PuteriWorld]

The PH glamour will surely culminate in the completion of the convention centre which will make it complete. Really envy those who bought very high floors with perfect sea views and views of Singapore at just half a million sing dollars when the same would cost S$3 million in Singapore. I would advise them not to sell until the price hit RM 4000 psf as there are so many hot demands for this lifestyle living for the next 15 years. Sunway iskandar is a good rival but its 99 year turn me off.

 

[Funniman]

Counted 6-7 main roads leading into Puteri Harbour and many other artillery road. No wonder they always hype that PH is the "Heart" of Iskandar and investors are pouring millions and condos are enjoying sold out sales almost all the time. When I first visited PH a few years ago, the only living thing in the whole area was a security guard who felt threatened at my arrival at 11pm. . Every year I will make it a point to visit this place twice and every 6 months I was swept away.

You must be a big fan of PH. How many units you bought in the early days?

 

[DCputeri]

Shall see how well Sunway will sell for the first phase of this township.

The PH glamour will surely culminate in the completion of the convention centre which will make it complete. Really envy those who bought very high floors with perfect sea views and views of Singapore at just half a million sing dollars when the same would cost S$3 million in Singapore. I would advise them not to sell until the price hit RM 4000 psf as there are so many hot demands for this lifestyle living for the next 15 years. Sunway iskandar is a good rival but its 99 year turn me off.

 

[Funniman]

Just got a call from E&O Property. They are launching Avira this week and by balloting only. Another sold out project.

 

[gooddebt]

Just got a call from E&O Property. They are launching Avira this week and by balloting only. Another sold out project.

WOw, what's the price like ?

 

[freekazoid]

Do you have their contact?

 

[Funniman]

Do you have their contact?

Google:

E & O Property Development, Iskandar Office.

 

[Funniman]

WOw, what's the price like ?

Not sure of price as not interested if it is by balloting.
(Actually no more bullets liao....)