Malaysia Real Estate

[goldenwood]

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.

[tkc]

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.

[Daryl Teo]

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!
_________________
Buy land, they're not making it anymore.
Mark Twain

[rollsroyce]

[goldenwood]

[Daryl Teo]

Think it's depreciating 'cos of:

[tkc]

[goldenwood]

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?

[ysmn]

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.
_________________
Kind regards, ysmn

[goldenwood]

[ysmn]

Found it scary.
_________________
Kind regards, ysmn

[goldenwood]

[ysmn]

Too sacred as well to discuss details.
_________________
Kind regards, ysmn

[Daryl Teo]

Ysmn,

Why scared? Soil got problem? Structure? Security issues?
_________________
Buy land, they're not making it anymore.
Mark Twain

[tkc]

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.

[tkc]

the individual strata title for vista komanwel has just been issued by the FT land office. anyone getting letter to execute the transfer?

[eeeekut]

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.

[tkc]

[eeeekut]

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.

[ysmn]

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.
_________________
Kind regards, ysmn

[eeeekut]

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.

[tkc]

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?

[ysmn]

[eeeekut]

[eeeekut]