Biggest Landowner in Thanacity vs House/Condos Owners vs AOT vs Compensation

Anyone who comes to Thanacity may have seen a spruce up recently at the front entrance of the project and also new advertisements depicting houses and land for sale. A good example. There is a new sales office besides the PC condo . It has been offering to sell the PC condos ( Prestige Condominiums ) at around Baht 36,000 to 38,000 per sq meter. You can see the banners hanging from the lampposts leading to the site. The banners state “ PERFECT COMMUNITY “. Thanacity is now being advertised as the perfect place to stay in. These are the vacant condos those have not been sold. Anyone checked any of the land sites value that they are trying to sell.?

Many of the house or condo owners drive past these banners and may laugh to you. But WAKE UP. This is a very serious matter if you already paid for your house and your condo or still paying monthly for your mortgages.

We have seen advertisements in the internet and in the newspaper advertising the units at the PC condo for sale from as little as Baht 17,000 to Baht 25,000 sq.meter furnished for the higher floors. Why are they advertising at such high prices when current owners because of the terrible noise from the aircraft nonstop and maintenance of the estate just want to sell super cheap and run away? A well decorated and built up detached Bungalow besides the golf course is advertised at Baht 24,000,000 for around 500 sq wah or so. Cheap. Cheap. Cheap. Why? Why? Why? Ask Yourself. The project owners have spend a lot of money building their sales office and from the looks of it, nobody seems to be interested. They also seems uninterested to do any sales. Is there another Objective in Mind ? Will you buy these units at the current sales prices being offered by their sales office ?

Current Residents Beware.

We wonder whether there is a hidden agenda? Some of the residents have got together to sue AOT for compensation. Current valuation at Bangna-trad area is about Baht 55,000 per sq wah for land only. What happens if Tanayong sells at at a much cheaper price to AOT ? What happens if a secret deal is carried out ? In Thailand and AOT, nothing is impossible. Are the residents protected from such a secret deal? Must the residents then follow the prices sold out by Tanayong to AOT and these prices taken to be standards ? If AOT becomes the owner of the project, can they outvote all the existing residents ? Will AOT take over the maintenance of the estate because they are the majority share holders now of the land in the project ? Can they take over the main road and identify those residents who protest too much and limit the water and electricity to them and don’t provide them with any security or don’t repair the roads or cut the bushes and the trees? What is the current responsibility of Tanayong to the current residents to the estate ? They sold us the houses in a project that failed with many unsold houses and lots of aircraft noises and all of us cannot sleep peacefully. We were not told of this in the sales contract. Again, we must remind ourselves that we are dealing with a faceless person. This is a company listed in the Stock Exchange of Thailand.

Have anyone checked who is the biggest landowner at Thanacity? We believed that it is Tanayong and probably some by the Asset Management? There is a lot of vacant houses, land and condos. Who really owns the Golf Course now ? Is there any danger of it being taken over by anybody ? We don’t know. There is a good opportunity to buy these land from the Asset Management or from the banks at very low prices when these land/houses/condos comes up for auction. Or will it be a closed door negotiation? Who then will buy it? The one who have the most knowledge on these parcels of land, of course. Most , if not all of the residents does not know what is happening in and around the estate .I am very worried when Tanayong makes a deal with AOT! The one who buys the distressed land and then resells it to AOT can make a graceful exit from Thanacity. The person can make a lot of money. If it is Tanayong, when they make an exit, there will be totally chaos for the residents. There will be no maintenance. No immediate takeover by the residents. The guards will be suddenly pulled out. No grass will be cut. All the residents will be left to themselves.

How about the various house owners stuck in many parts of the estate? They will have no one to talk to. No way to air their complains and their opinions. We believe that now all the house owners and the condos owners must get together and form a committee. We must set up a list of all the residents in the estate. This forum will act as a platform to help the residents of Thanacity. Originally, when they were sold the houses by Tanayong, they were promised of a good living environment. But now, a lot of the houses and land areas are unsold. Some of the houses are surrounded by trees and bushes. However, under the terms of sales, Tanayong is supposed to provide all the facilities and keep the estate up to a good standard. They did not do this. They are the biggest landowner as far as we know in the project. They must contribute their fair share towards this upkeep of the estate. Anybody seen the books and anybody seen the report on how they spend the funds that they collect from the various houses for the maintenance of the estate? Did they bother to send this report to any of the residents during the past many years? Are they still responsible for the maintenance ? Or are they acting as if they are responsible?

Did they declare how much properties that they own? Did they contribute themselves to the maintenance of the estate because they are the biggest landowner and originally the ones who sold us the project? Did they keep their promises? Look into the contracts that you signed with them when they first sold the house or condo to you? Look into what are their responsibilities ? There are new changes in the laws now and they are mean to protect the buyers? Be aware of your rights. Consult your neighbors. Consult your friends. Talk to your MP. Talk to your lawyers. Remember that Tanayong is a public listed company and a money making organization. It is a business for them.