Housing development - what it takes?

1. What is development? A housing development? Reference to the Housing Development Act 1966 defines it as the construction and sale of more than four units of housing accommodation.

2. Housing Development Act 1966 are the principal laws governing the business of housing development in West  Malaysia. The Act generally protects the house buyers because it contains the house buyers' rights and stipulates that the developers have to honour these rights of the house buyers.

3. Besides the laws, what make a development to be successful where it is built, completed and delivered  with vacant possession together with certificate of completion and compliance ( CCC ) to the house buyers within the stipulated time frame?

4. Inexperience on the developer side on technical and planning matters will cause the building structure and infrastructure to be compromised, Inner road, sewerage, drainage, substation provision and specification which are not complied with, will cause the certificate of completion and compliance ( CCC ) not issued by the authority. That is why we have housing projects with all the walls, window and door frames plastered and roof constructed being abandoned at the stage of 70 - 80 percent completion.

5. Reference to the housing act states that delivery of vacant possession does not mean that the house buyers can move in to stay immediately. THE VACANT POSSESSION MUST COME TOGETHER WITH CERTIFICATE OF COMPLETION AND COMPLIANCE ( CCC ).

6. CCC certifies that the property in question is SAFE AND FIT  to stay in and hence allows the house owners to move in to stay because that property has met the relevant authority rulings and with water and electricity connection in place.

7. When the housing development has a strong construction team in the form of project manager /  consultant, main contractor, there will management on work progress for technical compliance. With this management element in place, work progress will meet the completion schedule. This will prevent extra cost from being incurred by the developers. To redo and rectify cost money. In many instances, it has been proven that it costs more to redo and rectify than to get it right in the first place. To be late for delivery also cost money in the form of penalty that need to be paid. When extra cost exceeds the profit margin, possibility of delaying the project comes up.

8. Development is very much about cash flow management. Money must come in at the scheduled time to sustain the activity of construction and overall progress of the work. Money don't come, workers stop work and suppliers stop delivering goods. Some people say, development is a money game. The developer is not the boss; the money is. Looking from this angle, it is true.

General knowledge on buying developer's house - Late completion and delivery / Kongsi pengetahuan - Rumah lewat siap

1. The housing developer is to complete and deliver vacant possession of the property within 24 months from the date of the Sales and Purchase Agreement for landed property.

2. As new house buyer, your rights and entitlements in regard to late completion and delivery of your property are contained in the S&P.

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1. Pemaju projek rumah baru diwajibkan untuk siapkan rumah dan serah kunci kepada pembeli rumah tidak melebihi 24 bulan dari tarikh S&P untuk kediaman bertanah ( rumah teres setingkat, dua tingkat, semi-d dan banglo ). Hak pembeli terkandung dalam S&P.

2. 24 bulan itu adalah dari tarikh S&P dan bukan tarikh kelulusan pelan dari majlis tempatan seperti MBSA ataupun MPK. Itu sudah jelas dalam S&P, kalau lepas tarikh siap rumah, pemaju akan dikenakan penalti mengikut formula yang tercatat.

My First Home Scheme / Skim Rumah Pertamaku - 5

1. Can I get 100% loan to buy the house of the new housing project if I am working in the private sector? Not having to pay 10% down payment to buy a house which proved to be a big problem to many first time house owner is the main feature / attraction of My First Home Scheme (Skim Rumah Pertamaku).

2. With the launch of My First Home Scheme, many prospective buyers who look for new houses at this part of Selangor i.e Jalan Kebun, Johan Setia, Teluk Panglima Garang, Teluk Gong, Pulau Indah and Jenjarum, are asking about this scheme. It's in the TV, radio, newspaper, Internet and magazines. It's launched by the PM. It's one part of the national housing policy. How can they not asked? How can they not be entitled to 100% loan under this scheme if they meet the criteria? How can they not get this loan scheme for the houses they are interested if that new housing project falls under the purview of My First Home Scheme in term of price range?

3. YES, every new prospective house buyers, if they fulfill the criteria, can apply for My First Home Scheme ; it's their entitlement. Most of the leading local banks have the list of the standard criteria to qualify for this loan scheme if the housing developers have not already had it arranged.

4. My First Home Scheme should be made available as a choice to those who can afford  the down payment on top of it's main purpose of helping those qualify for the new house but cannot come up with the 10% down payment.

 5. Features of My First Home Scheme have been highlighted in the earlier posts under the same heading.

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SKIM RUMAH PERTAMAKU

1. Bolehkah saya, pekerja swasta, dapat 100% pinjaman untuk beli rumah baru di projek ini? Membayar 10% deposit untuk rumah baru merupakan halangan besar kepada ramai orang muda yang ingin memiliki rumah pertama mereka. Mendapat 100% pinjaman untuk rumah baru pertama merupakan ciri utama Skim Rumah Pertamaku.

 2. Dengan perlancaran Skim Rumah Pertamaku, ramai pembeli rumah baru pertama di kawasan Selangor ini i.e Jalan Kebun, Johan Setia, Teluk Panglima Garang, Teluk Gong, Pulau Indah dan Jenjarom tanya tentang skim sedemikian. Suratkhabar, TV, internet dan majalah majalah projek perumahan baru ada berita tentang skim ini. Dari golongan ini, siapa yang tak pernah dengar tentang Skim Rumah Pertamaku?

3. Jikalau rumah baru itu tak melebihi RM220,000.00 dan pembeli adalah pekerja swasta dengan gaji bulanan tidak melebihi RM3,000.00, maka pembeli rumah baru BERHAK memohon pinjaman perumahan melalui Skim Rumah Pertamaku. Kebanyakaan bank tempatan boleh menjelaskan ciri ciri Skim Rumah Pertamaku dan syarat syarat untuk layak jika masih ada pemaju perumahan yang belum memahami skim pinjaman ini.

4. Melalui Skim Rumah Pertamaku, pembeli rumah baru pertama yang tak mampu bayar 10% deposit mempunyai satu PELUANG untuk membeli rumah ; untuk mereka yang mampu dengan deposit, mereka ada PILIHAN samada nak mohon pinjaman 100% atau tidak.

5. Sila rujuk kepada catatan lama bawah tajuk yang sama untuk sedikit ciri ciri Skim Rumah Pertamaku.