Wednesday, September 22, 2010
Further on to my purchase of unit in Quadro from developer Monoland, where I based mainly my decision on the property being on Residential Title and the allocation of 2 car parks, this is what I have found out:
1. Monoland sent me an sms one morning 27th August 2010 6.44a.m. stating that the title is Commercial... apparently they only just found out!
2. The allocation of car park was not stated in the S&P - which later they provided an undertaking in a letter with a caveat "subject to approval of relevant plans by authorities"
Now, this is incredible. Why do they require approval from " authorities" for the plans? If Monoland has not received approval for the plans, they aren't supposed to sell. Perhaps the reason why we have signed the S&P and Monoland still hasn't explains why.
There has also been rumours that the rooftop facilities will be owned and managed by the developer and additional charges will be charged to residents who want to use them. While I am not too bothered by this, I wonder why the developer want to make things so complicated?
It is a fact that all residential or serviced apartment properties in KL which do not provide car parks do badly or don't appreciate as much as others in the market. Examples are Bidara, One Residency and 231TR. Monoland is starting to remind me of 231TR's developer Urban Delta with this kind of tricky mentality. Perhaps it is right that someone pointed out that Monoland is an OK developer for Titiwangsa Sentral but when entrusted with Multi-million Ringgit properties, that may be an entirely different issue.
I hope this turns out OK, this being Monoland's 1st outing in the luxury KLCC market. If they fail here, their reputation will be forever tarnished.