Today morning still did not get a call from the agent that I can view the unit in the afternoon.
Since we are buying into Pangsapuri Widuri, I get few more feedback on the titles issues.
I further check on the problem initial developer of the project.
From my research,Pangsapuri Widuri project had been stalled from 1999 till 2002 during the ASEAN financial crisis.
The developer is Diamond Crest abandoned the project which comprises 740 low-medium cost units and 230 low-cost units.
When the project was abandoned in 1999, leaving about 500 buyers of low medium-cost units and 157 squatters who bought the low-cost units in the lurch.
In May 2002, Penang state government has engaged turnkey contractors to revive and complete 12 abandoned low and low medium-cost housing projects in various phases of development.
The 12 projects are Taman Sri Semarak, Taman Cemerlang, Taman Terubong Indah (Majestic Heights) and Fettes Villa in the northeast district; Taman Sri Bayu in southwest district; Pangsapuri Widuri, Taman Sejahtera, PAKR Kuala Muda Phase 2 and PAKR Ekor Kucing Phase 2 in north Seberang Prai; and Taman Pekatra, Taman Widuri and PAKR Sungai Dua in south Seberang Prai.
The rescue package offered by turnkey contractor Harta Intan Construction Sdn Bhd is reasonable.Harta Intan developer Amir Hussain Abdul Majid mentioned are the below conditions:
-The bank agreed to waive 100% of the outstanding interests owed by the original developer Diamond Crest Sdn Bhd totalling RM5.5mil.
-The buyers had to forgo claims on late delivery charges
-The squatters had to forgo claims on outstanding rental of RM400 a month.
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