Abandoned Housing - Housing Development (Control & Licensing)
ZCZB6013 LAW & ETHICS
HOUSING DEVELOPMENT (CONTROL & LICENSING ACT 1966 (ACT 118) & REGULATION
ABANDONED HOUSING PROJECTS AND PURCHASERS’ RIGHTS
(DR. JADY@ZAIDI HASSIM)
SUFFIAN MD. ISA
ZP01299
SUFFIAN MD. ISA
ZP01299
Introduction
House – everyone needs one. Though some of us consider house as an investment, there are people out there that regards house as their needs, necessity and act as a shelter to their family.
Abandoned housing project in Malaysia has caused problems to the purchasers. Some of them were declared bankrupt, and many still have to serve and pay to the financiers even though the actual fact that there was no house for them. Sometimes, what was left on the so-call “proposed develop land” are few pillars or worse still, the same empty land they had seen during signing the Sales & Purchase Agreement still the same except now it is filled with long grass.
It is undeniable that the Sale and Purchase Agreement is between the developer and the purchaser. The loan to finance the house is between purchaser and financier. There was no direct connection between both developer and financier, but at the end of the day, failure in delivering the house to purchaser resulting burden to the purchaser in the sense of paying back the mortgage to the financier.
If we were to observe some statistics related to the abandoned, delayed and problematic projects in Malaysia, one can simply conclude that, this is not new issue but it has happened long time ago since the 80’s.
Table 1: Abandoned housing project as of May 2012 | No of Project | Progress Status | Year | Current | New | Total | Plan | Build | Completed | 2009 | 144 | 4 | 148 | 87 | 46 | 16 | 2010 | 133 | 13 | 146 | 50 | 60 | 36 | 2011 | 110 | 6 | 116 | 22 | 62 | 32 | 2012 | 84 | 10 | 94 | 16 | 58 | 20 | 2009-2012 | 144 | 33 | 177 | 16 | 58 | 10 |
Table 2: Statistic on delayed and problematic project as of May 2012 by state. No | STATE | No Of Delayed
HOUSING DEVELOPMENT (CONTROL & LICENSING ACT 1966 (ACT 118) & REGULATION
ABANDONED HOUSING PROJECTS AND PURCHASERS’ RIGHTS
(DR. JADY@ZAIDI HASSIM)
SUFFIAN MD. ISA
ZP01299
SUFFIAN MD. ISA
ZP01299
Introduction
House – everyone needs one. Though some of us consider house as an investment, there are people out there that regards house as their needs, necessity and act as a shelter to their family.
Abandoned housing project in Malaysia has caused problems to the purchasers. Some of them were declared bankrupt, and many still have to serve and pay to the financiers even though the actual fact that there was no house for them. Sometimes, what was left on the so-call “proposed develop land” are few pillars or worse still, the same empty land they had seen during signing the Sales & Purchase Agreement still the same except now it is filled with long grass.
It is undeniable that the Sale and Purchase Agreement is between the developer and the purchaser. The loan to finance the house is between purchaser and financier. There was no direct connection between both developer and financier, but at the end of the day, failure in delivering the house to purchaser resulting burden to the purchaser in the sense of paying back the mortgage to the financier.
If we were to observe some statistics related to the abandoned, delayed and problematic projects in Malaysia, one can simply conclude that, this is not new issue but it has happened long time ago since the 80’s.
Table 1: Abandoned housing project as of May 2012 | No of Project | Progress Status | Year | Current | New | Total | Plan | Build | Completed | 2009 | 144 | 4 | 148 | 87 | 46 | 16 | 2010 | 133 | 13 | 146 | 50 | 60 | 36 | 2011 | 110 | 6 | 116 | 22 | 62 | 32 | 2012 | 84 | 10 | 94 | 16 | 58 | 20 | 2009-2012 | 144 | 33 | 177 | 16 | 58 | 10 |
Table 2: Statistic on delayed and problematic project as of May 2012 by state. No | STATE | No Of Delayed