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armanee terrace sold out???
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polis



Joined: 23 May 2005
Posts: 15

PostPosted: Thu May 26, 2005 3:50 am    Post subject: armanee terrace sold out??? Reply with quote

hi all

just heard from a very reliable source that armanee terrace is sold out and they've just did a osft launch for the 2nd phase with a similar style as the 1st one. corner unit going at $1.3mil compared to around $750k for the 1st one.

can anyone confirm this?
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Thu May 26, 2005 9:23 am    Post subject: Reply with quote

I read in the papers about 2 weeks ago that Armanee Terrace is sold out. About time.

BTW, how much is a full page colour advert? Think MK Land must have been advertising semi-religiously for the last 3 years.
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Thu May 26, 2005 9:48 am    Post subject: Re: armanee terrace sold out??? Reply with quote

polis wrote:
corner unit going at $1.3mil compared to around $750k for the 1st one.


MK Land only managed to clear the "old stock" after 3 years. And they celebrated it with a full page thank you to announce their achievement. At the new phase price, I wonder what's the timeline to clear it?
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nick1994



Joined: 24 Apr 2005
Posts: 6116

PostPosted: Thu May 26, 2005 11:07 am    Post subject: Reply with quote

...its crazy....if buying 4 long term investment, u'll have 2 get someone 2 rent 4 about RM 9-10K a month 2 make it worthwhile......

at Damansara Perdana????..........
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Thu May 26, 2005 11:36 am    Post subject: Reply with quote

Yes, not to mention probably 80 years lease left when delivered with CF Razz
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ACDC



Joined: 05 Apr 2005
Posts: 474

PostPosted: Thu May 26, 2005 12:16 pm    Post subject: Reply with quote

Banzai wrote:
I read in the papers about 2 weeks ago that Armanee Terrace is sold out. About time.

BTW, how much is a full page colour advert? Think MK Land must have been advertising semi-religiously for the last 3 years.


Standard rate for full page full colour in the Star, if I'm not mistaken would be 20-25k for the national edition. I'm sure MKland would have negotiated a better rate..but thats a lot of $$ still
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Thu May 26, 2005 3:05 pm    Post subject: Reply with quote

Well if anyone's buying at the new phase, let us know if there's any 'dodgy' deals being thought up by the MK Land team. I thought the method of selling the previous phase was pretty unscrupulous.

Wonder what the net rental is like after reducing interest costs, maintenance fee and agents commissions etc. I hope the owners there can share some stories on rental and so forth although i highly doubt if a condo there can break even unless it's ~60% financing although i could be wrong.
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polis



Joined: 23 May 2005
Posts: 15

PostPosted: Fri May 27, 2005 5:10 am    Post subject: Reply with quote

banzai

honest question, could you explain more by what do you mean by unscrupulous selling practice ny mkland?

imho, i think leasehold and freehold issue is an overstated issue. if its in singapore, where land is scarce, i would understand it more but not really in malaysia. my 2 cents onli.
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Fri May 27, 2005 8:16 am    Post subject: Reply with quote

Polis, just like you can say "IMO" etc. not everyone will share your thoughts on freehold vs leasehold. As a investor, these are factors that will affect your exit strategy because your pool of buyer will be affected. Banks decision to lend or not will be affected. All else being equal, would you pay for a leasehold property with 80 years left at the same price as you would for a leaseshold property with 99 years left? 1.6litre car vs 2litre car?

On the contrary to your perception, in Singapore, there is less issue of leasehold vs freehold because if it were leasehold with limited years left, it is priced accordingly. An article in the papers a few weeks ago showed something like landed properties in Singapore on leasehold with ~50 years left was selling at a steep discount compared to a freehold or a leasehold with 99years left. Steep = 25% - 50% of a comparable unit.

Regarding unscrupulous practice: For the same unit, I was offerred 2 selling prices. How much I buy it for depends on my ability to afford the downpayment. The people there would probably phrase it differently but in essence, ^^. To me this is unscrupulous and i'm surprised that the bank would actually go along with it.
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NumberTWO



Joined: 30 Mar 2005
Posts: 220

PostPosted: Fri May 27, 2005 4:04 pm    Post subject: MKL, when u gonna deliver!! Reply with quote

Talk about armanee! Evil or Very Mad It is about time for me to calculate how much I could get for your unbelievable delays in delivering my Armanee in Dmsr Damai!! Twisted Evil
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polis



Joined: 23 May 2005
Posts: 15

PostPosted: Fri May 27, 2005 4:35 pm    Post subject: Reply with quote

banzai

point noted. on another issue, has it been confirmed that the selling price for the new phase corner lot is around $1.3mil?? althoug i'm inclined to give them the benefit of the doubt in terms to how they've come out with the price, it seems an awfully high price to pay. i can understand the logic if its slap bang in the middle of kl, but in damansara??

for all you know, there would be some crazies out there who would make it a sell out Shocked
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Fri May 27, 2005 4:56 pm    Post subject: Reply with quote

Actually, i don't know but it would be easy to find out. Look at the advertisements and at the fine print at the bottom of the page. The "recommended retail price" Very Happy ranging from minimum to maximum are printed there. The prices have to be to printed there to comply with the regulations.

TBH, i don't care what MK Land is selling it for as well. I wish them all the luck in the world on the sale of the bungalows.
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evitme



Joined: 28 May 2005
Posts: 3
Location: KL

PostPosted: Sat May 28, 2005 5:50 pm    Post subject: Re: MKL, when u gonna deliver!! Reply with quote

NumberTWO wrote:
Talk about armanee! Evil or Very Mad It is about time for me to calculate how much I could get for your unbelievable delays in delivering my Armanee in Dmsr Damai!! Twisted Evil


NumberTWO,

Heh, you are not alone. I bought a unit in A block. It's been what......almost two years late, will be this Oct anyway. Sigh!!!
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Sat May 28, 2005 10:35 pm    Post subject: Reply with quote

Have you guys been receiving any monies from MK Land?
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NumberTWO



Joined: 30 Mar 2005
Posts: 220

PostPosted: Mon May 30, 2005 12:07 am    Post subject: Reply with quote

evitme,
U may join us, a group of despaired buyers, at :..hba.org.my/forum/.?board=2;action=display;threadid=753

Banzai, we don't even know when exactly they will deliver the unit so we can't really ask for late delivery charge yet.. Twisted Evil Twisted Evil Evil or Very Mad
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polis



Joined: 23 May 2005
Posts: 15

PostPosted: Mon May 30, 2005 5:00 pm    Post subject: Reply with quote

NumberTWO wrote:
evitme,
U may join us, a group of despaired buyers, at :..hba.org.my/forum/.?board=2;action=display;threadid=753

Banzai, we don't even know when exactly they will deliver the unit so we can't really ask for late delivery charge yet.. Twisted Evil Twisted Evil Evil or Very Mad


hi,
i think you could only claim the charge if the delay were to exceed 36 months after you've signed the S&P agreement and its not always the same date as everyone else. correct me if i'm wrong here, anyone.
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Mon May 30, 2005 6:09 pm    Post subject: Reply with quote

polis wrote:
NumberTWO wrote:
evitme,
U may join us, a group of despaired buyers, at :..hba.org.my/forum/.?board=2;action=display;threadid=753

Banzai, we don't even know when exactly they will deliver the unit so we can't really ask for late delivery charge yet.. Twisted Evil Twisted Evil Evil or Very Mad


hi,
i think you could only claim the charge if the delay were to exceed 36 months after you've signed the S&P agreement and its not always the same date as everyone else. correct me if i'm wrong here, anyone.

Polis is correct. If you were the last few buyers, you would not be getting any late charges. I had a delayed project as well, and if i recall correctly, i received payments every month the project was late.
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NumberTWO



Joined: 30 Mar 2005
Posts: 220

PostPosted: Tue May 31, 2005 4:53 pm    Post subject: Reply with quote

Banzai wrote:
polis wrote:
NumberTWO wrote:
evitme,
U may join us, a group of despaired buyers, at :..hba.org.my/forum/.?board=2;action=display;threadid=753

Banzai, we don't even know when exactly they will deliver the unit so we can't really ask for late delivery charge yet.. Twisted Evil Twisted Evil Evil or Very Mad


hi,
i think you could only claim the charge if the delay were to exceed 36 months after you've signed the S&P agreement and its not always the same date as everyone else. correct me if i'm wrong here, anyone.

Polis is correct. If you were the last few buyers, you would not be getting any late charges. I had a delayed project as well, and if i recall correctly, i received payments every month the project was late.


Yeah, I understand this. The last few buyers especially those who have just bought a unit year or 2 years ago may not get the claims but I guess I must be a 'qualified' one since I'm the very first few buyer after the launching.. Sad Twisted Evil Evil or Very Mad
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Tue May 31, 2005 5:14 pm    Post subject: Reply with quote

Did you approach the developer and see what their reaction is when you demanded for the late charges (or maybe it is common practice to wait until handover to pay late charges)?

I got my late charges without even realising there was such a thing Razz Deposited the check and went out for lots of drinks Very Happy
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NumberTWO



Joined: 30 Mar 2005
Posts: 220

PostPosted: Tue May 31, 2005 5:37 pm    Post subject: Reply with quote

Yes, I did. Thrice within the 2 years span...And the answers were the same ..'We will comply to what is stated in the S&P..We are a big corp so we won't do anything silly to jeopardize our fame...Imagine we have hundreds of sister Armanee Terrace units to sell only for this to ruin us? no way!"

So, you trust them? Twisted Evil Rolling Eyes Twisted Evil
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NumberTWO



Joined: 30 Mar 2005
Posts: 220

PostPosted: Tue May 31, 2005 5:38 pm    Post subject: Reply with quote

Yes, I did. Thrice within the 2 years span...And the answers were the same ..'We will comply to what is stated in the S&P..We are a big corp so we won't do anything silly to jeopardize our fame...Imagine we have hundreds of sister Armanee Terrace units to sell only for this to ruin us? no way!"

So, you trust them? Twisted Evil Rolling Eyes Twisted Evil
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nick1994



Joined: 24 Apr 2005
Posts: 6116

PostPosted: Tue May 31, 2005 10:00 pm    Post subject: Reply with quote

..i think in a way.......u shld b glad u'r dealing with MK Land.........shld know soon, isnt the first block supposed 2 b close 2 completion......????
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NumberTWO



Joined: 30 Mar 2005
Posts: 220

PostPosted: Wed Jun 01, 2005 4:22 pm    Post subject: Reply with quote

hi nick..ya..expected to be completed July but hmmm... Idea Question

As you said, 'we shall see...'
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polis



Joined: 23 May 2005
Posts: 15

PostPosted: Wed Jun 01, 2005 5:29 pm    Post subject: Reply with quote

NumberTWO wrote:
hi nick..ya..expected to be completed July but hmmm... Idea Question

As you said, 'we shall see...'


r u talking about armane terrace? when i spoke to them about a couple of months ago, they say that it would be completed by end 05 or early 06.

but then again its armanee terrace that i'm talking about.
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nick1994



Joined: 24 Apr 2005
Posts: 6116

PostPosted: Wed Jun 01, 2005 6:10 pm    Post subject: Reply with quote

..think they may b referring to armanee.....the one in damansara damai....
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