From: http://komunitikini.com/kl-selangor/kuala-lumpur/owners-of-once-abandoned-ttdi-condominium-%E2%80%9Cabandoned%E2%80%9D-again (accessed 20 October, 2011)
Posted on July 20, 2011 by Leven Woon
Sudah jatuh, ditimpa tangga. Purchasers of the once-abandoned Kondominium Mas Kiara were recently shocked to discover that their units have been sold to third parties by the liquidator of the now-defunct property company.
About 23 purchasers, who bought their units in 1995, alleged that the new developer, Intan Permata Properties Sdn Bhd (IPPSB), has not only failed to give them the much-delayed units, but have instead sold them on to new buyers.
One purchaser, Syaniza Hisham…, claims the developer disputed, without cause, many of the original purchasers’ legal documents when they were asked to sign a new sales and purchase agreement (S&P) in 2007.
“Some 100 purchasers were not invited to sign new S&Ps eventually due to unreasonable excuses such as non-payments although they have shown the receipts,” she added.
“Some of them were asked to show their purchase documents to a lawyer. They went to meet the lawyer a few times but in vain. Eventually the developer claimed they were not interested [to meet with them],” she said at a press conference yesterday.
Syaniza claims those units have been resold to new buyers for between RM400,000 and RM500,000, much higher than the initial price of below RM200,000.
Another purchaser, Hamzah Ibrahim, said the Ministry of Housing and Local Government had, in a meeting, stated that IPPSB can only sell the remaining 53 units which had not previously been sold, and assured that the right of existing purchasers will be protected.
“Many of us feel cheated as we have paid up to 80 percent of the loan instalments,” lamented Hamzah.
Sixteen years dreaming of a new home
Launched in 1995, Kondominium Mas Kiara in Taman Tun Dr Ismail consists of two blocks and 240 units with a built up area of 1,300 square feet.
The purchasers were promised their dream homes in three years, but instead they waited until 2003 to find out the initial developer Petplus (M) Sdn Bhd had been liquidated.
In 2004, IPPSB took over as the new developer and thus began the new saga.
All purchasers who attended the press conference yesterday said they refuse any compensation and only want their units to be handed over to them in the soonest possible time.
They also want IPPSB to recognise them as the genuine purchasers. (emphasis added).