The reason why some ppl gave up their bumi lots is cos someone in the Johor state got greedy.
Before the mkt was hot and when nobody was buying, Dijaya sold the bumi lots before getting the conversion approval. This is normal practice in MY.
But the mkt went RED HOT, so someone in Johor now wanted a fee to be paid for converting each lot. (I can't remember the exact percentage but I know it came up to abt an additional RM20 psf.) The developer wasn't going to pay so they told the buyers that "since this isn't yet a sale, cos its a "sale pending approval", you either pay the new fee or we refund you the money".
How do I know this story? Cos a very good friend of mine got caught in this very nonsense. He grudgingly paid after getting the developer to absorb part of the fee. And after paying this fee, he had to sign the purchase and loan documents all over again because it a new price and hence new valuation. So on top of the extra cash, he had to put up with the extra hassle.
So while he paid, I can imagine that some other buyers would have been very upset and decided not to buy. I would have been really pissed and would have pulled out of the deal too.
That's the reason why there are now units for sale.
