Saturday, September 04, 2010

Rain Water Down Pipe ("RWDP")

Look what i found in my mailbox today. They even had a code for it! RWDP! RWDP! Indahria folks, i urge you to send.

Sunday, August 15, 2010

Living in fear of another Highland Towers tragedy

New Straits Times, Sunday, 8th August 2010 - Original Article

To download scanned article please click on this link - Scanned Article

By Mazlinda Mahmood

SHAH ALAM: Looking at the condition of the open parking lot of the Indahria Apartment in Section 22 here, many would think that an earthquake had struck.

Residents of the 15-floor apartment have been living in fear that shifting soil which has resulted in the cracks forming across their parking lot for the past three years will soon destabilise the foundation.

Indahria Residents Association deputy chairman Anuar Pin, 42, said small cracks had been detected at the parking lot, located a metre from the Damansara River for the past three years, and they had become much worse lately.

"We have complained to the developer and they have repaired the cracks many times, but they would reappear.

"We are worried now as the cracks have reached about 0.4m deep and are only 10m away from the apartment. It gets worse when it rains.

"We hope the relevant authorities will take immediate steps to stabilise the soil and not postpone the repair work any longer," he said yesterday.

Another resident Mohd Shukri Sulaiman, 33, said the cracks were now about 100m long.

"I live on the eighth floor with my wife and two children, and I worry for their safety. "I do not want a Highland Towers- like tragedy here."

Batu Tiga assemblyman Rodziah Ismail of Parti Keadilan Rakyat said in a press statement that a meeting was held on June 7, involving representatives from the Department of Irrigation and Drainage (JPS), Shanghai Realty Sdn Bhd, Joint Management Body and Shah Alam City Council to discuss the problem.

"The developer in his report said the Damansara River de-sedimentation work by JPS was the reason that the cracks keep forming, but JPS has denied the claim.

"Therefore, we have suggested that an independent consultant or third party like the Public Works Department or the Malaysian Institute of Public Works to conduct further investigation to find out why the cracks keep forming."

To other Indahria Owners, are you aware of this? I certainly dont wish this crack goes to the building!

Monday, July 05, 2010

Opportunity Found, Opportunity Lost

I have been spending quite some time thinking and planning on buying my 2nd property, appropriately code-named #002. Brief description of #002 is that it is a medium cost apartment, some would even say its a low cost flat because the condition of the place and the number of foreigners staying there. Located in Sunway, close to various colleges, factories and offices, this is one of the properties that i have been targetting since #002 was ever mentioned in my blog. Regardless to what the public may think, as a "self claimed" property investor, i believe that #002 would be a worthy investment to own. The return on investment of this area is around 8%-11% consistently and the rental is between RM700 up to RM1200 depending how i would plan to lease it out.

Sometime in February, a dear friend of mine whom was dealing with one agent in purchasing a unit in Indahria apartment informed that there is currently a unit being sold for around RM105K - which is a bargain! Even 'rumah lelong' starts at around RM90K - RM100K. Reason why its a total bargain is because the market value of #002 is around RM120K-RM140K. Sweet, aint it?

So i hooked up with this agent and went to see the house, currently being rented by a few students studying in a local college nearby. To my surprise, it wasnt as bad as i would expect it would be. Agent told me that the owners are in the process of a divorce and need to let go of the property urgently. There and then i decided, this was mine! Opportunity. So this agent sealed the deal with the owners with regards to my intention to buy the place. Home loan applications were made to several banks and several banks offered me various packages available in the market. Come to think of it, it was only a property of RM105K. There should not be a problem at all. Being an extra careful person about his own credit report, i know very well that i will not have any problem in getting any loan.

What happened?

There were some delays in processing for one of the banks that i was interested. Public Bank offered me 80% where by CIMB havent got back to me in time. So i decided to go with PB first, in which few days later CIMB got back to me and offered 90% home loan package. Yup, this was the package that i wanted. really really wanted. So the plan was to ditch PB once CIMB comes back with a firm offer. Deal is made with CIMB, so CIMB it is!

Loan was approved, what happened then? To be continued...

Sunday, June 20, 2010

The Palace @ Sydney

I am in love with this house that my family and i stayed while we were on holiday in Sydney, Australia. Mad respects to the homeowner! 

Its just minimally-extraordinary! More stories of my holiday in the next post

Saturday, April 03, 2010

1 Year Review

It has been a year since i received the keys to Indahria and it has been a joyful ride being a home owner, well an apartment owner. Less postings to the blog now as i am awfully busy with work. Hehe. Everyone is! With regards to #002 (my second investment apartment), its on the way. More updates on #002 very soon. Now its in the bank loan application part. I believe there shouldnt be any problems there.

There was also the Joint Management Body Meeting @ Indahria on 28th March 2010 which i wasnt able to attend to. Any owners/tenants went to the JMB? This should be a good way to meet and communicate with everyone.

I have also managed to pursuade a friend to get a unit @ Indahria and he has also bought it and received a bonus (tenant ready). More stories soon.