Upcoming launch : Setia Ecohill Phase 1 Terrace house

Setia Ecohill will be divided into 3 precincts. Precint 1 consists of double-storey houses and apartments. Precint 2 & 3 consist of bungalow & Semi-D and superlink and a clubhouse, approximately 70% of whole township. Precint 2 & 3 will be guarded and gated development.

The first phase of terrace house (20’ x 65’) will be launched in April 2013 at 380k Further details is not available yet.

Project Detail :

Property Type: Terrace House

Standard Land Area: 20’ x 65’

Indicative Price: From RM380,000

Tenure : Freehold

New Launch The Chimes at Bandar Rimbayu (Kota Kemuning)

The Chimes at Bandar Rimbayu (Kota Kemuning)

Bandar Rimbayu is a 1879-acre township with the GDV of RM11bil in Kota Kemuning. This twonship features several ponds and water bodies, focusing on sustainable lifestyles and is divided into four precincts:

The Chimes at Bandar Rimbayu (Kota Kemuning)

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• Flora, a mixed residential area
• Fauna, a mixed residential area with amenities including shops and a school
• Bayu, a 280-acre high-end waterfront residential development by the lakeside
• A commercial hub, which includes a canal, town square and service apartments

They have recently launched The Chimes on 2 March 2013, below is the summary of the detail : -

Total Unit : 526

Land Area :  56 acres

Land size : 22’ x 75’ ; 24’ x 75’

Built-up : 2179sf ; 2322sf

Selling Price : 600-700k

The Chimes at Bandar Rimbayu (Kota Kemuning)

Density : 9.4 units per acre (low density)

The Chimes at Bandar Rimbayu (Kota Kemuning)

Tenure : Leasehold

Promotion package : A UNIFI VIP 10 package for 12 months, free legal fees on Sales & Purchase agreement and rebate of RM8000 if S&P is signed within 14 days from launch date.

The Chimes at Bandar Rimbayu (Kota Kemuning)

Sales status :

A total of 165 units (31%) sold internally to staffs & associates whilst the balance open for sale are 100% sold for non-bumi units. The balance unsold units approximately 10% of total are all bumi units.

My review :

Location: Location is a bit further from the existing development. However, this will become a township by its own where the residents will enjoy all facilities in the township later on. However, it is access by five major highways such as KESAS, LKSA, ELITE, SKVE and proposed WCE to other part of Klang Valley

Price : The pricing is a reasonable in current market condition. The landed properties are still commanding high demand. Corner units look cheap in relative to intermediate units. The units with good aspects are taken up earlier.

Design : This is a modern contemporary design housing model. The units are all with north-south orientation, thus reducing exposure to sunlight. High ceiling is incorporated in the interior to encompass for an airier space. Besides, the staircase skylight provides natural lighting into the house.

Embracing green technology that helps keep wastage to the minimum, each en-suite bathroom is equipped with dual flushing system for the Water Closet (WC), solar heated water system to bathrooms at shower area (except utility’s toilet) and rainwater harvesting system for gardening and outdoor usage.

New Launch East Residence (Turnberry Villas) at KLGCC, Bukit Kiara

East Residence (Turnberry Villas)

East Residence (Turnberry Villas)  by Sime Darby Property, located at KLGCC area consist of 112 units of link villas (known as 4-storey courtyard villas and 8 units of 5-storey resort villas) This development is at the advanced stage and shall be completed at the end of this year. East Residence (Turnberry Villas) is a contemporary and modern courtyard link villas within a stratified gated and guarded community. It is just 5-stone away from Sime Darby Convention Centre, Bukit Kiara Equestrian & Country Resort and Juara Stadium.

East Residence (Turnberry Villas)

Summary details of this project : 

Land size for development : 10 acres

Land area : 20ftx 85ft or 24ftx 85ft 
Built-up area

Courtyard villas (with private lifts) : 4400 – 5400sf

5-storey resort villas (with private lifts) : 6300sf

Tenure : Leasehold
Total Unit : 120

Selling Price : RM4.5mil and above

Service charges : 0.40psf 

East Residence (Turnberry Villas)

Webpage : http://www.eastresidence.com.my/
Review : 

Location : It is situated at a strategic location, located at KLGCC east golf course. You may enjoy golf course viewfor certain units. It is easily connected to KL city & Petaling Jaya by Sprint Highway, Federal Highway, Damansara-Puchong Highway (LDP) and New Klang Valley Expressway (NKVE).

Design : 5 + 1 Bedrooms and 6 Bathrooms is luxurious for a courtyard villas.

Price : The price comes with the location and it is provided with free 250k membership to KLGCC which is a bonus to golf lovers.

Remarks : This development is designed in a traffic free environment. Units come with kitchen cabinets to both dry and wet kitchens, cooker hob & hood, built-in microwave, oven, refrigerator, washing machine and dryer, food waste disposal system, centralized hot water system & vacuum system, built-in wardrobes for all rooms.

The unique feature is, there are private basement garages for all units, where all vehicles are directed to the basement garage via a ramp. As such, there is no vehicle can be seen above ground, making of the landscaped gardens the only sight with the golf course as its backdrop.

New Launch EcoGlades in Cyberjaya

EcoGlades in Cyberjaya

 The new launch EcoGlades in Cyberjaya was on 12 August 2012. EcoGlades in Cyberjaya by SP Setia (70%) and Setia Haruman (30%). Setia Haruman is the master developer of Cyberjaya. The land was acquired in March 2011 @ RM36psf.  EcoGlades is a is a gated and guarded enclave that covers 268 acres of freehold land, is situated next to the 400-acre Cyberjaya Lake Gardens. It offers a mix of have 2,400 residences including super links, semi-detached, bungalows and condos upon completion of whole township in next 6 years. 

EcoGlades in Cyberjaya

Summary details of this new launch EcoGlades in Cyberjaya : 

Selling Price EcoGlades in Cyberjaya

Webpage : http://www.setiaecoglades.com.my/

Review : 

Location : It is located in Cyberjaya, connected to various part of Kuala Lumpur via highways ie. ELITE highway and the Maju Expressway. Cyberjaya is so-called Malaysia’s first Intelligent City and the heart of the Multimedia Super Corridor (MSC).

EcoGlades in Cyberjaya

Design : Setia Eco Glades is a high-end enclave inspired by cultural diversity, the homes are designed with tropical modern designs.

Price : The price comes with the design and the soothing and conducive  environment .

Remarks : Good environment for homes if appreciate staying apart from town of Kuala Lumpur. 

EcoGlades in Cyberjaya

Upcoming launch : 73 semi- detached houses in Bandar Sunway

Wing Tai (DNP) is planning to launch in next year (2013), a development of 73 semi-detached houses, within a site of 10-acre. The semi-detached house will have the built-up areas of 4,070 sq ft. The estimated selling price is RM2.5mil a unit. Check out this at later stage...

Upcoming Launch Rainz Residence

Rainz Residence is located at OUG, Bukit Jalil by a devloper knownas Jalil Max. It is still at a very preliminary stage of development planning and scheduled for launching in 2013.

Rainz Residence consists of : -
1 block of 39-storey condo
3 blocks of 32-storey condo
1 block of 13-storey condo

Further details on this Rainz Residence is not available for the time being. It has a few images and the facade is very impressive. Check out the artist impression as follows : -



Rainz Residence

Rainz Residence

Rainz Residence



Rainz Residence

Rubber Research Institute of Malaysia (RRIM)

The redevelopment of the Rubber Research Institute of Malaysia (RRIM) land is part of the greater Kuala Lumpur Strategic Development initiative, under 10^th Malaysia Plan.

Rubber Research Institute of Malaysia (RRIM)

It is in the news that the prequalification process for bids of Rubber Research Institute of Malaysia (RRIM) land in Sungai Buloh, Selangor will start by end of this year. EPF will call for the prequalification bids as soon as it gets the government’s nod for the proposed development of the land. Developers who meet the requirements of financing, expertise, reputation and innovation will be considered.

EPF (Kwasa Land Sdn. Bhd., EPF’s wholly owned unit) is the landowner and master developer of the project. EPF bought 890 hectares of the total 1,215 hectares supply from Federal Government for over RM2bil. EPF will then carve the land out into 20 hectares to 200 hectares each parcel. The balance of Rubber Research Institute of Malaysia (RRIM) land is for :

• Malaysian Rubber Board hub (217 hectares)
• My Rapid Transit (MRT) Sungai Buloh depot (72 hectares)

The latest news as published in Star last week, Dijaya Corp Bhd is talking with EPF on jointly developed certain parcels of Rubber Research Institute of Malaysia (RRIM) land in Sungai Buloh. Rubber Research Institute of Malaysia (RRIM) land begins from My Rapid Transit (MRT) Sungai Buloh depot in the Northern portion and end with the Southern portion bordering the Tropicana Gold & Country Resort, a development by Dijaya. In order to have an access directly to Petaling Jaya, an access road through Tropicana Golf Resort is required. As such, Dijaya is currently in the midst of preparing an amalgamation deal. Dijaya in April already entered into agreements with several vendors for a proposed acquisition of 73 properties, comprising 49 parcels of land and 16 buildings for RM949.9mil.

Rubber Research Institute of Malaysia (RRIM)

Upcoming Launch : Phase 3 Forest Hill Damansara

Forest Hill main entrance



Forest Hill Damansara is located at right after the LDP Penchala toll. This project consists of 6 units semi-detached, 9 units bungalow and 63 units villa (zero lot bungalow). This is a guarded and gated strata scheme. Phase 1 & Phase 2 with a total of 50 units were launched in April 2012, and Phase 3 (28 units) will be launched soon.

Forest Hill Location Map

Summary details of this project :
Land area : 17 acres

Tenure : Leasehold
Total Unit : Phase 1 : 25, Phase 2 : 25 and Phase 3 : 28 (total 78 units)
Lot Size :  Varies ; Typical : 43’ x 80’
Sizes : 5200 – 5500sf
Density : 5 units per acre
Selling Price : RM 2.8mil – RM 3.0mil for Phase 1&2
Developer : Ehsan Bina Sdn. Bhd. (This is a contractor for Casa Residence (Cheras), Casa Villa (Shah Alam)), Flora Murni (Mont Kiara), Anjung Tiara, Taylors Lakeside Campus, Savanna 2 Bukit Jalil, Casa Tropicana new block, and Damansara Uptown's new development
Webpage : Not advertise anything about Forest hill  (Sold by Agent : Henry Butcher)


Forest Hill Unit Layout

 Review :
Location : This project is situated near to the Flora Damansara flat. It is very near to highway although the agent claimed that the subject land is 40 feet above the road.  

Design : The facade looks good. The sizes are typical bungalow sizes at 5000sf.
Price : The pricings at 2.8mil is quite fair looking at the location is at Damansara if you do not mind it is near to flats. 

Forest Hill Artist Impression

Forest Hill Artist Impression

My Notes : Landed properties are getting lesser due to the scarcity of land in prime area. In view of the 5% discount given and DIBS with only 5% downpayment, the affordability is increased. We can see that units leftover are mostly the units near LDP. I have no doubt that this project can be sold off soon with the unique selling point of  6-acre natural lake, Landscaped linear park with zen garden, home comes with lift, quality finishes of marble to living, dining and teak wood for rooms and it is secured with multi-tiered security with CCTV.

You One @ Subang USJ launched in June 2012

You One @ Subang USJ

You One @ Subang USJ is located at Subang Jaya. This project consists of 2 blocks of serviced apartments with 35-storey and 31-storey respectively. Both the blocks were continuously launched within 3 weeks in June 2012 and received quite good respond. One of the block is 100% sold and the other one is 40% sold.  


location map (You One @ Subang USJ)

Summary details of this project :
Land area : 2.9 acres
Tenure : Freehold
Total Unit : Block A : 269 & Block B : 311
Sizes : 650, 1300, 2600
Density : 200 units per acre (commercial title, plot ratio applied)
Average Selling Price : RM650psf
Developer : PJD landmark Sdn. Bhd.
Webpage : http://www.pjdprop.com.my/youone/


You One @ Subang USJ

Review :
Location : This project is situated at very central of USJ, near to Subang Summit and Giant.

Design : The facade looks good. Various sizes are from as small as 650 to 2600sf, only 8 units per floor.
Price : The pricings at 650psf is at the average condo pricing. This pricing is equal to Mont Kiara and Damansara areas. 
My Notes : Location is good, design look quite up to trend, pricing is a bit steep at USJ area, where at this pricing of 500k onwards, there are still many options of landed properties in this areas, but all are old houses. This project is entitled for DIBS scheme, and all are given 10% discount with additional 2% during the special preview which will make the price at the average of RM580psf.

My First Home Scheme by Malaysia

If you are staying in Malaysia, may be you have heard of this My First Home Scheme, may be not.
 

My First Home Scheme by Malaysia

Let me share with you this if you have not heard about this. The My First Home Scheme  was announced in 2011 during Malaysia budget in order to assist young adults to own their first home with up to 100% financing from Financial Institutions.

My First Home Scheme by Malaysia

Who is entitled for this scheme?

• Malaysian citizen
• First time home-buyer
• Individuals up to age 35 years
• Single borrowers with gross income less than RM 3000 per month
• Confirmed employee with minimum employment of 6 months with same employer
• Repayment of total commitment amount must not be more than 55% of the gross monthly income

What is the property that you can choose?

• Residential properties located in Malaysia only
• Property value between RM100k to RM400k
• For the purpose of owner occupation only (buyers are required to reside in the property)

How to apply?

• Eligible buyer will need to apply directly with participating banks

What are the financing requirements?

• Financing tenure not exceeding 40 years, subject to borrower’s age not exceeding 65 years at the end of financing tenure
• Amortizing facilities only (no redrawable features)
• Installments payable via monthly salary deductions or standing instruction
• Savings record ( 3months installment liquidity reserve)
• Compulsory fire insurance / Takaful

Which are the participating banks / financial institution? 

• Affin
• Alliance
• Ambank
• Bank Islam
• Bank Muamalat
• CIMB
• Hong Leong
• Maybank
• OCBC
• Public
• RHB
• Standard Chartered
• UOB

Malaysia My Second Home (MM2H)

Malaysia My Second Home (MM2H) programme is promoted by the Government of Malaysia to allow foreigners who fulfill certain criteria to stay in Malaysia as long as possible on a social visit basis with multiple entry Visa.

Malaysia My Second Home (MM2H) programme

The Social Visit pass is for a period of ten (10) years (depending on the validity of the applicants’ passport) and is renewable.

Why you should choose Malaysia My Second Home (MM2H)?

• This Malaysia My Second Home (MM2H) program is fully  supported by the Government of Malaysia
• You will have high standard of living with modern infrastructure and facilities
• The cost of living is one of the lowest in Asia
• This is the country that political stability
• People live peacefully with multi racial and this is a cultural country
• All recreation / entertainment / shopping / medical / education facilities well equipped
• There are alot of quality residences in Malaysia

What are the Benefits / incentives of Malaysia My Second Home (MM2H)

• You will have multiple entry visa of 10 years
• May import 1 motorcar from country of citizenship or where last domiciled or purchase 1 new motorcar made or assembled locally free of excise duty & sales tax subject to terms & conditions.
• May purchase up to 2 units of residential houses at a minimum prices above RM250,000 each except for certain areas in Sarawak (Kuching, Miri, Sibu) with the minimum price of RM300,000 each
• May apply for one maid / domestic helper subject to the guidelines of immigration department of Malaysia
• Allow to bring the children who under 18 years old and not married as their dependants.

Do you need to pay Tax?

• Participants are bound by the taxation policies and regulations of this country. However, pension remitted into Malaysia is exempted.

What are the financial requirements?

a. Upon Application

If you are age below 50 years old

• To show proof of liquid assets worth minimum of RM500,000/- and offshore income of RM10,000/- per month

If you are age 50 years old and above

• To show proof of liquid assets worth minimum of RM350,000/- and offshore income of RM10,000/- per month. For those who have retired, show proof of receiving pension from government of RM10,000 per month

b. Upon Approval

If you are age below 50 years old

• To open a fixed deposit account of RM300,000
• To maintain a minimum balance of RM150,000 from 2^nd year onwards under this programme

If you are Age 50 years old and above

• To open a fixed deposit account of RM150,000 or monthly off-shore income of RM10,000
•  To maintain a minimum balance of RM100,000 from 2^nd year onwards under this programme



MM2H

What are the medical requirement?

• All applicants and their dependents are required to submit medical report from any private hospital and clinic registered in Malaysia.
• All applicants and their dependents must possess medical insurance policy which is applicable in Malaysia .

Real Property gain Tax (RPGT) on Budget 2012

Malaysia Government proposed in Budget 2012 that the RPGT on properties held and disposed of within two years be raised from 5% to 10%, 5% tax to be maintained for properties disposed after three to five years and no tax for properties disposed after the fifth year.

Meanwhile, the Government has provided exemption for following:-

1. Disposal of a residential property once in a lifetime.
2. Transfer as gifts between parent and child, husband and wife, grandparent and grandchild; (No exemption for transfer between sibling) and
3. Exemption of RM10,000 or 10% of the chargeable gain, whichever is greater, for each disposal of a property by an individual.

Example to illustrate calculation of Real Property Gains Tax (RPGT) payable: Mr.X purchased a property on year 2006 at RM100,000.00 and sold after or on Jan 1 2010 at RM200,000.00 (within five years of the date of purchase). He made RM100,000.00 from the transaction and the gains are subject to 5% RPGT.

RPGT Calculation:
RM100,000 (Property Gains) - RM10,000 (Waived Exemption) = RM90,000 (Taxable Gains)
RM90,000 (Taxable Gains) x 5% (RPGT Rate) = RM4500 (RPGT Chargeable)

Effective January 1, 2012, property owners and investors who dispose off their property in Malaysia within five years will be subject to the revised RPGT rate on taxable capital gains for sale and purchase agreements signed on or after that date.

Basis Of Taxation
The chargeable gains arising from the disposal of any land situated in Malaysia and any interest, option or other right in or over such land or the disposal of shares in a 'real property company' is subject to Real Property Gains Tax.

Disposer's Responsibilities        
The disposer of a real property has to submit the following within 30 days from the date of disposal of the asset:

1. Completed Form CKHT 1;
2. Copies of stamped Sale and Purchase Agreement or Form 14A (memorandum of transfer) to prove the acquisition and disposal of the asset;
3. Copy of grant/title deed (if any);
4. Copies of bills and receipts for expenses claimed. (in case of companies or non-citizen and non-permanent resident individuals, details not required if asset is disposed in the sixth or subsequent year from the date of acquisition).

Acquirer's Responsibilities        
An acquirer has to submit the following within 30 days from the date of disposal of the asset:

1. Completed CKHT 2 forms;
2. Copy of stamped Sale and Purchase Agreement or Form 14A (memorandum of transfer) to prove the acquisition;
3. Copy of grant/title deed (if any).

Acquirer (or his solicitor) is also required to retain the whole of the consideration monies or a sum not exceeding five percent (5%) of the total value of the consideration whichever is the lower, until he receives clearance (Form CKHT 4 or CKHT 5) from the Inland Revenue Board.

Exemptions Available For Real Property Gains Tax (RPGT)

1. A gain arising on disposal prior to 7 November 1975, the date of coming into force of the RPGT Act 1976.
2. An amount of RM5,000 or 10% of the chargeable gain, whichever is greater, for each disposal of a property by an individual.
3. A gain accruing to the Government, a State Government or a local authority.
4. A once in a lifetime exemption on a gain accruing to an individual who is a citizen or a permanent resident or to a husband and wife in respect of the disposal of two private residence (each for husband and wife as amended in Budget 2005).
5. A gain equal to the amount of estate duty payable where the disposer is compelled to dispose the property in order to pay the estate duty.

A No Loss And No Gain Situation
Applicable only to companies (as defined in the RPGT Act 1976) for the following situations:-

1. Transfer of asset between companies in the same group to bring about greater efficiency in operation for a consideration consisting of not less than 75% syer in the transferee company and the balance of a money payment.
2. Transfer of asset between any companies for any consideration in any scheme of reorganisation, reconstruction or amalgamation whereby the transferee company is being restructured to implement any such scheme in compliance with Government policy on capital participation in industry.
3. Distribution of asset by a liquidator of a company and the liquidation of the company was made under a scheme of reorganisation, reconstruction or amalgamation whereby the transferee company is being restructured to implement any such scheme in compliance with Government policy on capital participation in industry.

Several Transactions Where Disposal Price Is Deemed Equal To Acquisition Price:

1. Transfer of assets between spouses.
2. Gifts made to the Government, State Government, local authority or a charity exempt from income tax.
3. Disposal of an asset as a result of a compulsory acquisition under any law.
4. Disposal of an asset by a person to an Islamic Bank under a scheme where that person is financed by such bank in accordance with the Syariah.

Rates Of Tax (Real Property Gains Tax)
The above rates apply for disposals on or after 27 October 1995 and has been revised to 5% flat with effective from Jan 1 2010. An individual who is not a citizen and not a permanent resident is subject to the following rates:-

These rates apply for disposals on or after 17 Oktober 1997.

EPF / KWSP withdrawal for second home

Effective from 2nd January 2001, applicants can also withdraw from Account II to purchase or build their second house on condition that the first house, which was funded from their EPF savings, has been sold.

Applicants are required to submit documentation of the sale of property such as:

• Memorandum of Transfer (KTN 14A); or
• Title Deed under purchaser's name; or
• Deed of Assignment; or
• Loan Agreement cum Assignment.

If the house purchased or built before 2nd January 2001, applicants can only withdraw to reduce or redeem their housing loan only.

EPF / KWSP withdrawal to reduce / redeem housing loan

This scheme allows applicants to withdraw from their Account II to reduce or redeem their housing loans. Withdrawals can be made once a year.

Applicants may apply under this scheme if: -

• There is an outstanding balance of loan of purchasing a house or shop house with a dwelling unit;
• Applicants who have refinanced their said house are subjected to withdraw the amount of the original housing loan; and
• Applicants who have not attained the age of 55 from the date of application received by the EPF.
• Application can be made ONCE A YEAR from the previous housing loan withdrawal date.

Applicants do not qualify under this scheme if: -

• The purpose of withdrawal is for renovation, repair or for extensions of the existing house.
• Applicants have mortgaged the house to acquire finance for use other than purchasing or building a house.
• The original housing loan balance is fully settled.

Amount eligible for withdrawal: Applicants can withdraw their savings under this scheme shown below or whichever is lower:

For individual application

• Total outstanding balance of the loan; or
• Balance amount in Account II.

For joint application

• Total outstanding balance of the loan, or
• Balance amount in Account II for both applications.

Under joint application, EPF will process the application of the first purchaser. If the amount is insufficient, EPF will proceed to process the second purchaser.

How to apply

Applicants are allowed to apply for the withdrawal under this scheme once a year from the same account from the date of the first withdrawal. Members are required to submit the KWSP 9C(AHL) form to the EPF.