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Thread: Delayed TOP twice & development of condo seems to stop

  1. #1

    Default Delayed TOP twice & development of condo seems to stop

    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?

  2. #2
    Join Date
    May 2012
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    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 View Post
    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 three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  3. #3

    Default

    Quote Originally Posted by emmeline View Post
    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?
    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.

  4. #4
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    May 2012
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    3,920

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    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 View Post
    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.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  5. #5
    Join Date
    Nov 2008
    Posts
    2,403

    Default

    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.

  6. #6

    Default

    Quote Originally Posted by emmeline View Post
    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.
    Same victims.......but different project
    https://forums.hardwarezone.com.sg/h...p-5812052.html

  7. #7

    Default

    Quote Originally Posted by Kenji_Yamato View Post
    Same victims.......but different project
    https://forums.hardwarezone.com.sg/h...p-5812052.html
    Wow Freehold property now sure made profit.

  8. #8

    Default

    Quote Originally Posted by emmeline View Post
    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?
    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?

  9. #9
    Join Date
    May 2012
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    In this case, better buy after completion and handed over.

    Have owners gotten their keys?
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  10. #10

    Default

    Quote Originally Posted by Kelonguni View Post
    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...

  11. #11
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    Nov 2008
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    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 View Post
    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?

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