House ready at last, but more
07/01/2006 The Star By Wani Muthiah
Klang: Instead of looking forward
to moving into their homes, several owners of double-storey houses in Taman
Sungai Pinang in Kapar near here of what awaits them.
The housing project, which
comprises 29 residential units priced at almost RM100,000 each, had been
stalled for 20 years; the developer abandoned it in 1985.
Seventeen houses were completed
when Syarikat Perumahan Negara Berhad came to the rescue.
But this could be the beginning
of a new string of problems for those who took bank loans to purchase the
houses in 1983.
One of them, Rashid Anuar, 51,
said the 20-year delay had resulted in the loan interest coming up to almost
the price of the house.
"Those of us who borrowed from
banks serviced the loans for three years and stopped paying when the housing
project was abandoned by the original developer.
"However, 'the meter' continued
to run and currently we owe the banks almost double the amount we initially
borrowed," said Rashid, who works for an automative parts trading company.
He said he was only 30 when he
bought the house.