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goldenwood
Joined: 08 Apr 2008
Posts: 5
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 Posted: Tue Apr 08, 2008 11:23 pm Post subject: Vista Komanwel |
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Is it worth to buy Vista Komanwel condo?
How is the market price?
An agent told me that Block A is around RM180k and Block B and C are around RM200k. |
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tkc
Joined: 13 May 2007
Posts: 441
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| Posted: Tue Apr 08, 2008 11:37 pm Post subject: |
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| if u r really interested, go for block b. the price would not drop much from there because the rental rate is quite good, considering the lrt station is just opposite. |
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Daryl Teo
Joined: 09 Feb 2008
Posts: 2567
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| Posted: Wed Apr 09, 2008 12:35 am Post subject: |
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Think that Vista Commonwealth will see a resurgence of interest once BERJAYA's Savannah come on stream having sold en bloc to a Korean conglomerate. Also there are some interesting developments in its vicinity like Taman Esplanade, Ho Hup's Jalil Grove & D'Link commercial shop lots which will bring up the profile of the area. With good built up areas of 1200 sq ft around 210k is a pretty good buy especially with plenty of students from IMU for a captive tenant pool not to mention ppl who commute by LRT. Only hated its lack of security, dinghy dark carparks, aging facilities & senseless jams whenever there is a concert at the stadium!
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rollsroyce
Joined: 20 Oct 2006
Posts: 896
Location: Dagobah System
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| Posted: Wed Apr 09, 2008 11:24 am Post subject: Re: Vista Komanwel |
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| goldenwood wrote: | Is it worth to buy Vista Komanwel condo?
How is the market price?
An agent told me that Block A is around RM180k and Block B and C are around RM200k. |
This condo has been depreciating* by approximately 3.43% per year from 2003 to 2007.
Since you did not mention the exact built-up area & exact block that you are interested in, you may go by a blanket price of $132 - $139 per sq ft.
The surrounding developments are not going to help this condo in any way for a loooooong time....
Suggest you give Vista Komanwel a miss & look at Arena Green instead.
Good Luck.
* Calculation done based on all blocks, all built-up areas & all floors grouped together.
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goldenwood
Joined: 08 Apr 2008
Posts: 5
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| Posted: Wed Apr 09, 2008 12:20 pm Post subject: Re: Vista Komanwel |
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| rollsroyce wrote: | | goldenwood wrote: | Is it worth to buy Vista Komanwel condo?
How is the market price?
An agent told me that Block A is around RM180k and Block B and C are around RM200k. |
This condo has been depreciating* by approximately 3.43% per year from 2003 to 2007.
Since you did not mention the exact built-up area & exact block that you are interested in, you may go by a blanket price of $132 - $139 per sq ft.
The surrounding developments are not going to help this condo in any way for a loooooong time....
Suggest you give Vista Komanwel a miss & look at Arena Green instead.
Good Luck.
* Calculation done based on all blocks, all built-up areas & all floors grouped together. |
I have visited the Block A unit. It is about 1224sf. It is fully furnished and golf-view. The agent said that the price is RM180k. Negotiable.
Why the Vista Komanwel price depreciate since the block b and c is near to LRT station? |
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Daryl Teo
Joined: 09 Feb 2008
Posts: 2567
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| Posted: Wed Apr 09, 2008 12:38 pm Post subject: |
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Think it's depreciating 'cos of:
| Daryl Teo wrote: | | ........ hated its lack of security, dinghy dark carparks, aging facilities & senseless jams whenever there is a concert at the stadium! |
Think all condos after a no. of years if it's not well maintained it loses its lustre and appeal. The other problem might be security issues or traffic congestion. Having the KL-KLIA h'way doesn't help either. However remember that present values are just that, an indication of the prevailing market. There are always other factors to consider when buying a prop, that of future potential for the location & the other developments or events that are shaping the location. I would try to identify markers for future potential in a 3 to 5 year time frame.
Howeve would admit that prices at Vista has been static for a while now unless some further development revitalises the area.
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Buy land, they're not making it anymore.
Mark Twain |
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tkc
Joined: 13 May 2007
Posts: 441
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| Posted: Wed Apr 09, 2008 1:44 pm Post subject: Re: Vista Komanwel |
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| goldenwood wrote: | | rollsroyce wrote: | | goldenwood wrote: | Is it worth to buy Vista Komanwel condo?
How is the market price?
An agent told me that Block A is around RM180k and Block B and C are around RM200k. |
This condo has been depreciating* by approximately 3.43% per year from 2003 to 2007.
Since you did not mention the exact built-up area & exact block that you are interested in, you may go by a blanket price of $132 - $139 per sq ft.
The surrounding developments are not going to help this condo in any way for a loooooong time....
Suggest you give Vista Komanwel a miss & look at Arena Green instead.
Good Luck.
* Calculation done based on all blocks, all built-up areas & all floors grouped together. |
I have visited the Block A unit. It is about 1224sf. It is fully furnished and golf-view. The agent said that the price is RM180k. Negotiable.
Why the Vista Komanwel price depreciate since the block b and c is near to LRT station? |
it has depreciated due to :
- inflated pricing during the launch in pre-1997 crisis
- not well maintained
- traffic congestion once a while during activities in bkt jalil stadium
all the -ve issues are already factored in. with the current rental rate, i dun think the rental gonna be lower anymore. with good rental, the yield is there, you cant be getting any lower property price in the future. block b, in fact has appreciated from its launching price, though not much. block a and c were much higher its pricing during the launching last time.
Last edited by tkc on Sun Apr 13, 2008 12:04 pm; edited 1 time in total |
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goldenwood
Joined: 08 Apr 2008
Posts: 5
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| Posted: Wed Apr 09, 2008 5:07 pm Post subject: |
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Anybody know how much the launching price of Block A, B and C?
Also the maintenance fee? Is it easy to rent for Block A?
Regarding security issue, do u guys hear any robbery happening in Block A, B and C before? As I know, there is a small gate between Block A and B. But it was locked due to receiving a lot of complaint from Block B. Is it the first time lock? Would it be unlock? |
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ysmn
Joined: 19 Sep 2006
Posts: 2388
Location: Terris
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| Posted: Wed Apr 09, 2008 5:27 pm Post subject: |
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I checked it out several years ago and did not buy is i was and still am concerned about actual maintenance costs, quality of construction and risk of the buildings collapsing some day.
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Kind regards, ysmn |
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goldenwood
Joined: 08 Apr 2008
Posts: 5
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| Posted: Wed Apr 09, 2008 5:37 pm Post subject: |
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| ysmn wrote: | | I checked it out several years ago and did not buy is i was and still am concerned about actual maintenance costs, quality of construction and risk of the buildings collapsing some day. |
What's ur finding? |
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ysmn
Joined: 19 Sep 2006
Posts: 2388
Location: Terris
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| Posted: Wed Apr 09, 2008 8:09 pm Post subject: |
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Found it scary.
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Kind regards, ysmn |
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goldenwood
Joined: 08 Apr 2008
Posts: 5
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| Posted: Wed Apr 09, 2008 9:44 pm Post subject: |
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| ysmn wrote: | | Found it scary. |
May you share with me the details?
I am also very concerned about that.
Or you can pm me.
Thx |
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ysmn
Joined: 19 Sep 2006
Posts: 2388
Location: Terris
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| Posted: Fri Apr 11, 2008 7:59 pm Post subject: |
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Too sacred as well to discuss details.
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Kind regards, ysmn |
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Daryl Teo
Joined: 09 Feb 2008
Posts: 2567
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| Posted: Sat Apr 12, 2008 12:47 pm Post subject: |
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Ysmn,
Why scared? Soil got problem? Structure? Security issues?
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Buy land, they're not making it anymore.
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tkc
Joined: 13 May 2007
Posts: 441
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| Posted: Sun Apr 13, 2008 12:09 pm Post subject: |
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it is advisable for you to take block b even if it's a bit higher in price. all the 3 blocks were started their construction with block b first, followed by a and then c. however, all were to be handover just before the 1998 commonwealth games. hence, block b is known to have the better workmanship because it was given the most time to complete the units.
maintenance is about $220 for a unit of 1224 sqft. if i can remember correctly, the launching price for block b is around $190k, block a $210k and block c $230k. the price also depends on its level, the higher is more expensive. |
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tkc
Joined: 13 May 2007
Posts: 441
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| Posted: Fri May 01, 2009 11:56 am Post subject: |
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| the individual strata title for vista komanwel has just been issued by the FT land office. anyone getting letter to execute the transfer? |
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eeeekut
Joined: 02 May 2009
Posts: 10
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| Posted: Sat May 02, 2009 9:03 pm Post subject: |
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| Yes. The lawyers I appointed have just presented the Memorandum of Transfer at the Land Office last month. Told me that it takes about 10 months for registration of the title deed before I can get the original Strata Title Deed. |
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tkc
Joined: 13 May 2007
Posts: 441
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| Posted: Mon May 04, 2009 12:50 pm Post subject: |
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| eeeekut wrote: | | Yes. The lawyers I appointed have just presented the Memorandum of Transfer at the Land Office last month. Told me that it takes about 10 months for registration of the title deed before I can get the original Strata Title Deed. |
so how much is the cost for doing the MOT from the lawyer in total? anyone doing the submission together with one lawyer for a better deal? |
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eeeekut
Joined: 02 May 2009
Posts: 10
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| Posted: Tue May 05, 2009 3:14 am Post subject: |
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It is cheaper to use the same lawyer (law firm) that did your Sales and Purchase Agreement because they can only charge you 25% of the applicable scale fee (transfer legal fees).
For the scale fee table, you can refer to:
.://..hba.org.my/articles/iprop/transfer.htm
I use the same lawyer that did my SPA and the total legal fess and disbursements fee (excluding the stamp duty on transfer) is about RM900.
The Stamp duty is a little over RM3000 but this cost will depend on the value of your unit. |
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ysmn
Joined: 19 Sep 2006
Posts: 2388
Location: Terris
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| Posted: Tue May 05, 2009 9:16 am Post subject: |
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dear eeeekut, please enlighten me, is the calculation for stamp duty based on value when it was 1st bought, or on the current value. Thanks.
I ask because until today, no one has given me a straight answer.
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eeeekut
Joined: 02 May 2009
Posts: 10
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| Posted: Wed May 06, 2009 3:42 am Post subject: |
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For mine, the value is the price in the SPA. It's best you check with your lawyer about this.
According to:
.://..hba.org.my/articles/iprop/transfer.htm
(I extracted the following passage from the above url):
"There usually is a time lapsed from the purchase till the issuance of the strata titles. At the time of transfer, direct purchasers from developers usually pay the consideration value (the purchase price) of the property, whereas subsequent purchasers would have paid the stamp duty based on market value adjudicated by the Valuation Department."
My understanding is that if you purchase the property directly from the developers, it would be the purchase price stated in the SPA (as in my case).
To be on the safe side, you can double check with your lawyer. |
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tkc
Joined: 13 May 2007
Posts: 441
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| Posted: Tue Jun 02, 2009 12:23 pm Post subject: |
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This is the breakdown of legal fees and disbursement for the MOT - Perfection of Charge - Issuance of Strata Title :-
Charge Annexure:
Legal fees on charge annexure RM300.00
5% service tax RM15.00
Stamp duty on charge annexure RM40.00
Registration fee on Consent to charge RM100.00
Registration fee on Charge RM120.00
Travelling expenses RM100.00
Printing and postage charges RM60.00
Land search RM30.00
Purchase document RM50.00
Stamp duty on Letter of Offer RM50.00
Total : RM865
MOT :
Legal fees on MOT RM300.00
5% service tax RM15.00
Adjudication fees on MOT RM10.00
Registration fees on Consent to transfer RM100.00
Registration fees on MOT RM100.00
Stamp duty on transfer RM2746.00
Travelling expenses RM100.00
Printing and postage charges RM70.00
Land search RM30.00
Total : RM3471.00
Wouldn't there be better rate than the above? |
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ysmn
Joined: 19 Sep 2006
Posts: 2388
Location: Terris
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| Posted: Tue Jun 02, 2009 12:40 pm Post subject: |
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| eeeekut wrote: | For mine, the value is the price in the SPA. It's best you check with your lawyer about this.
According to:
.://..hba.org.my/articles/iprop/transfer.htm
(I extracted the following passage from the above url):
"There usually is a time lapsed from the purchase till the issuance of the strata titles. At the time of transfer, direct purchasers from developers usually pay the consideration value (the purchase price) of the property, whereas subsequent purchasers would have paid the stamp duty based on market value adjudicated by the Valuation Department."
My understanding is that if you purchase the property directly from the developers, it would be the purchase price stated in the SPA (as in my case).
To be on the safe side, you can double check with your lawyer. |
Thanks mate. This is very helpful. Sorry for not thanking you earlier.
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Kind regards, ysmn |
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eeeekut
Joined: 02 May 2009
Posts: 10
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| Posted: Sat Jun 06, 2009 8:35 pm Post subject: |
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| ysmn wrote: |
Thanks mate. This is very helpful. Sorry for not thanking you earlier. |
You're welcome!  |
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eeeekut
Joined: 02 May 2009
Posts: 10
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| Posted: Sat Jun 06, 2009 9:37 pm Post subject: |
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| goldenwood wrote: | | ...As I know, there is a small gate between Block A and B. But it was locked due to receiving a lot of complaint from Block B. Is it the first time lock? Would it be unlock? |
The small gate between Block A and B WILL NOT be unlocked. However, there is now a side gate at VistaK A which is much nearer to IMU than the VistaK A's main entrance for residents on foot only (not for vehicles). |
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