About the developer:
As far as I know all the project under the name of 'Mahkota' is under Lion Group. I heard they also had sold Mahkota Parade to a Singapore based company (probably Hatten Group). They also reclaim a piece of land (can't remember how big) behind Century Mahkota. Which make Pulau Melaka is no more a 'Pulau' since it will connected with the mainland. I guess this is part of their investment strategy, invest in a new area then develop part of it, sell part of it.
Bandar Akademia @ Mahkota Hills, Semenyih:
Development of this area has been started
in the late 90's (according to a friend of mine living in Semenyih). Their early goals was to sell a plot of land (4,000 sqft) to buyer for building a bungalow. At that time, for a plot of land with a 4,000 sqft only cost as low as RM20K (read it somewhere on other forum). Even those who bought in 2009 manage to bought it at a price of RM90K. Somewhere in 2008, they changed their marketing strategy by focusing the market to government servant. FYI, govt have an advantage in their housing loan scheme which they can apply a loan to buy a land and built a house on the said land. Previously, it's really hard for the developer to sell their land as no bank would want to finance as what been said by HELLO HELLO, it's almost become 'big time screw up koyak development'.
Thanks to the govt servant buyer, Bandar Akademia manage to 'survive' and the developer manage to sell a completed bungalow instead a plot of land due to history valuation by valuer (there is a buy & sell transaction been made for the last 5 years). Not to forget on the new development within 20km radius. The developer also has launched a 2-sty link house starts at RM300K++ in 2014.
To purchase a plot of land, you need to buy by cash. Loans are only applicable for govt servant as most bank doesn't want to finance it. However, you may buy a completed bungalow house with 1,100 sqft built up with a land size of 4,000 sqft at a price of RM360K. If you want to save your money, better buy by cash as the cost to purchase a land + building a house with 1,100 sqft built up would only cost you RM280K (all the price stated here was for during mid 2013 - mid 2014). You could saved a RM80K. The pros of purchasing a completed bungalow is it would takes a shorter time for you to get a house instead of purchase a land and later build it. Do take note you are not able to purchase the land only. You need to buy the land together with the package building the house. They have their own contractor to build the house. However there is a way how you could built your dreams house (your own design, but this would become an extra cost for you)
Just want to clear few things based on my observation.
1. Infrastructure has been built accordingly. You can see in each phase a TNB substation is already there. Electricity and water supply to this area already available. About 5% of the residence area has been occupied (based on the house that has been built). There is a routine schedule to mow the lawn as the buyer need to pay a maintenance fee of RM20 per month.
2. I don't think there is any Lion Group staff at the development area. The appointed agent only do the marketing on behalf of both developer and contractor. The guard is hired by a security company. The labour workers were mostly the worker for the subcontractors.
3. The 2 future developments areas in BA is the agent selling point key. One is a mall located near phase 5 and the other want that I heard from the agent there will be an expatriate residential area. Looking back Lion Group past history ..... you can judge it by yourself. Honestly I don't have the confidence, however, so far there is only 1 hypermarket in Pelangi Semenyih. No mall within 20 km radius. Aeon is known for their robust in venture into an emerging market. While Parkson is own by Lion Group .. who knows what might happen in 2020.
4. In terms of market price, a plot of land in College Perdana Height located near to Lekas exit in Pajam price RM10 higher than BA. New development double story linked house with a 2,000 sqft built up in Ecohill (RM360K++ in Sept '14) , Tasik Kesuma (RM400K++, Oct '14) and Mantin (RM360K++, Jan '15). Subsale bungalow in Taman Tasik Semenyih with almost the same land size as BA priced at RM420K. Country garden home ... i'm sure it cost more.
5. BA (Lenggeng) + Mantin is under MPN, N9 while Semenyih area is under MPK, Selangor. Both PBT are known for their fussiness especially on developing new projects. I just hoped there would not be any clash on the township planning and both of them could work together to make a proper township at least like Bangi.
To be honest, RM 20K for a proper bungalow lot of 4000 sqft in that area is a bit of a stretch even in the 90s. Unless you are talking about the late 90s in the aftermath of the Asian financial crisis.
Feb 23 2022, 03:29 PM
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