Buyers want project revived
23/01/2008 New Straits Times
THE Cahaya Kota Putri House Buyers Pro-Tem Committee, which represents more
than 1,000 buyers, will hold a purchasers' general meeting at Permas Jaya
MBJB hall on Jan 27 to call for the revival of a project that had been
abandoned since October 2005.
A committee member, Yong Yoke Mui, said the meeting would give an up-date on
the progress of the revival of Bandar Baru Kota Putri Project which consists
of single-storey, double-storey, semi detached double-storey and apartment
She said the project was suspended three times since 2002 and was completely
abandoned in October 2005 due to unresolved financial difficulties faced by
the developer. Yong said most of the purchasers faced difficulties repaying
their loans and some already had been blacklisted by banks.
"We have been waiting for more than five years for our homes to be delivered
and until now we are still without a roof over our heads.
"The purchasers are mostly low and middle-income people.
"It is a big burden for us to have to service housing loans with interest
and installments every month for uncompleted units," she added.
Another committee member Alice Yong said the committee had submitted its
revival proposal to the bank and liquidator but nothing had been done so
"We are very disappointed by the attitude and ignorance of both parties
involved in not resolving the matter and reviving the project.
"Our biggest obstacle is that the wound-up developer's bank refuses to
compromise and still wants to get back every single sen of its loan plus
full interest from day one."