Hi, I've recently booked a unit @ KL Traders Square only to realise that the property is in commercial title. I've some queries I hope someone would be able to help me here.

a) I've saw that some says that the developer is trying to help us convert TNB back to residential rate. Can anyone confirm this? If developer fails, how is the success rate if we are to apply ourselves after handover of key?

b) As for the assessment rate, I've heard that:-

i) we can apply to convert our title back to residential to enjoy residential quit rent and assessment rate. Is this true and historically has people actually managed to convert their title?

ii) we can appeal the rate and has to attend hearings to change our rate. Is this true and if the appeal is sucessful does this mean we could enjoy residential rate or does the rate get revised in accordance to their justification? (which might be more than residential rate)

c) I've heard that for KL Trader's Square area the rate is 4% for residential and 7% for commercial, can someone confirm this?

d)Quit Rent seems to be not an issue since the amount is immaterial, i saw that residential is RM0.035/square feet but couldn't find the commercial rate. Anyone to advise?

Many Thanks in advance

Yup. All TNB, Syabas, Quit Rent and assessment have higher rate for commercial title property than residential.

Currently many have mentioned that TNB could be converted back to residential easily and the rest is almost quit impossible.

Water Bill hike would be significant in terms of % but amount is small. My SA told me it will be around RM30 each month. (while a serviced residence nearby with 2 occupants cost around RM10- 15)

What currently still worries me is the assessment fees since it can cost from RM 500 - RM1000 for normal residential property. (Since our rate would be almost 100% higher than residential (3% residential and 7% commercial), this could be quite significant)

P/s: the assessment rate is just based on hearsay so i could not confirm the actual rate but mostly commercial rate would be around 100% higher than residential rate

TNB is calculated based on (residential/commercial rate * useage) . There's 2 different rate for either residential or commercial title. My SA told me that the developer is currently applying to change it back to residential rate for tnb so initially without the conversion the rate will definitely be commercial rate.

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This post has been edited by CherishYY: Jun 8 2017, 08:52 PM

"Local government and development laws expert Derek Fernandez confirmed that buyers of residential property with commercial titles had to pay commercial rates for water, electricity, land taxes and assessment. "

Read more at http://www.thestar.com.my/metro/community/...2j0DpusRb9lq.99

I've done alot of research and almost all told me we need to pay commercial rates unless we managed to apply to TNB to change it back to residential rates. And that is what my SA told me as well, that the developer is applying to TNB for residential rates. (because otherwise we need to pay commercial)

Correct me if im wrong but my understanding is that commercial titled properties can be used to run a business so we need to pay commercial rates unless we applied and prove that its for residence only, so if nothing were done or no application is filed, we are actually going to be billed with commercial rate by default.

This post has been edited by CherishYY: Jun 8 2017, 08:54 PM