Hi,
I'm one of the home owners for Sycamore Tree. The TOP has been delayed twice! We went to check on the development and it doesn't seems to have any progress, yet the bank is still requesting for releasing of payment.
What should we do?
Printable View
Hi,
I'm one of the home owners for Sycamore Tree. The TOP has been delayed twice! We went to check on the development and it doesn't seems to have any progress, yet the bank is still requesting for releasing of payment.
What should we do?
The bank cannot request for next stage of payment unless specific stage of construction has been verified as cleared and your lawyer requests for disbursement? Good news ahead?
Quote:
Originally Posted by emmeline
Hopefully.. the TOP is suppose to be Dec 2016. We received a letter of delay in TOP last year and another letter of delay in Jan 2018. Looking at the construction progress, it seems to stopped.Quote:
Originally Posted by emmeline
It has to be some internal progress.
I am guessing the developer needs funds for the next stage. It’s tricky indeed. Have you spoken to lawyers?
Quote:
Originally Posted by emmeline
Depends what they ask for. If they ask for completion of road payment, then the road has to be completed. You get what I mean? Better go down and check if what they asked for has been done.
Anyway, I did a search for the developer Astoria Development Pte Ltd.
Found this - https://www.mom.gov.sg/~/media/mom/d...-act.pdf?la=en
Also, there is an ongoing thread about this development and seems like the developer is in trouble based on the discussions.
http://forums.condosingapore.com/sho...Sycamore-tree/
Anyway, this was launched in 2011. Now already 2018. I think you should be prepared for the worst. I don't recall any projects taking 7 years from sell to completion. And this is a boutique tiny apartment so usually 2 years completion.
Same victims.......but different projectQuote:
Originally Posted by emmeline
https://forums.hardwarezone.com.sg/h...p-5812052.html
Wow Freehold property now sure made profit.Quote:
Originally Posted by Kenji_Yamato
Hi I am looking to buy a unit at sycamore tree. Would you please advise if I should proceed given the problems? Like the area and the upcoming mrt. Also what are the damages (if any) that developer is giving to the owners?Quote:
Originally Posted by emmeline
In this case, better buy after completion and handed over.
Have owners gotten their keys?
Nope.... not sure when top also.... but if I wait for owners to get the keys, then the price will surely go up again...Quote:
Originally Posted by Kelonguni
Why would anyone buy a unit there now? That project has not made any progress for years. It was launched in 2011. A project of that size would have TOP in 2013/2014. Now is 2018, you still want to bet that it will be done in 2 months? I drive around there often and I can tell you there is no progress at all and it is at least 1 year away from completion even if they start work today. There is no workers that I can see either.
Quote:
Originally Posted by wlwong
Hi Owners of Sycamore Tree,
It was going to be one year later, what is the status of the project? Empty promises again? Is the LEGAL COMPLETION due? What are the actions you guys have taken?
Hi, Please PM me for more information about Sycamore Tree. I have insider information.