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Investment EKOCHERAS @ JALAN CHERAS (Ver 2) [MRT PROPERTY], Where Cheras becomes Mont'Jiulai
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ekorjiulai
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 Nov 21 2013, 06:44 AM
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Getting Started
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Hi guys, I've just got my loan approved by CIMB for duplex block J 1121 sqft with two carparks. Actual property price is 777k before 7% discount. I'm taking no dibs at 80%.
I quite like this property because of MRT, close proximity to KL city centre and it's freehold. I'm just a bit concern if the price is a little bit on the high side. But of course, I don't really mind keeping this as a property that I might live in in the future so it's really a long term investment.
Any property sifu can give thoughts if I should proceed with this? I need to sign the SnP by 29/11 and it's my first property purchase so any thoughts would be very much appreciated. Thank you!
This post has been edited by ekorjiulai: Nov 21 2013, 06:52 AM
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ekorjiulai
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Nov 21 2013, 04:17 PM
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Getting Started
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QUOTE(pepper99 @ Nov 21 2013, 01:47 AM) im getting -2.4.. i think cimb also getting the same.. but apparently rhb if loan over 500k can get -2.45 You're right. I'm getting -2.4 with cimb. -2.45 would be nice but I work overseas so should be thankful that my loan got approved. Not much time left before snp too. I'm also going for the flexi loan so hopefully can save up my savings quick enough to offset the interest. I'm on 12th floor and my unit comes with no balcony so I believe yours would've one. What floor are you on? Not sure if mine is considered lower or upper floor.. |
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ekorjiulai
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Nov 21 2013, 04:18 PM
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Getting Started
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QUOTE(restful increase @ Nov 21 2013, 06:44 AM) Price wise u got a better deal than those who bought block E and H coz u got 5% discount. Recycled units by the developer went up another 4%. So u got ur unit now 9% cheaper which is a good start. If u do plan to stay thr in 10 years time, its worthwhile keeping it as ur unit with 2 carparks will come in handy. Dbkl is tendering a multipurpose hall with 28 stall foodcourt across d road near leisure mall which will add value to ur unit as well. Other mrt developments in cheras ie youcity also selling similar price to ur unit but its further away fr city centre n does not enjoy direct connection with LRT. Sunway velocity another cheras project, on d other hand is selling at a whopping rm1,100 psf which makes it 30-40% more expensive than yr unit. This makes ur unit looks competitively priced. Thanks for your input bro. Much appreciated! |
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ekorjiulai
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Nov 22 2013, 12:46 AM
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Getting Started
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QUOTE(restful increase @ Nov 21 2013, 04:48 PM) Some banka strict in assessment n wont give the LTV dat u want. Anyway the 2nd 10% is only payable next july 2014. That's interesting. How did you find out when the payments will be taken? I'd like to know too so I can decide whether to go for dibs or no dibs option. If I can negotiate a 90% loan, is it definitely better to go with the dibs option? I can't calculate the interest saved unless I know the developer's plans in terms of fund disbursements both timing and amount. |
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ekorjiulai
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Nov 23 2013, 05:29 PM
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Getting Started
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QUOTE(pepper99 @ Nov 22 2013, 01:46 AM) ya can say lucky la.. din pay any premium.. haha hmmm y ah.. just tot wan to put more dp.. din do much analysis on this leh.. but if im taking 90% will go for dibs.. im taking without dibs.. so i should be paying the remaining 3% - RM10k booking fees? Yep, that's right. Also I can confirm booking cannot be trtransferred unless it's between immediate family. Block J price increased by 2% and H 4%. My dad had to show my bc to change the buyer to my name. Also developer advised to take dibs if you're taking 80-90% LTV. I was initially going to do the same as you but now not sure to go dibs or no dibs at 80%... Dibs at 80% means I need to have 20% cash without the 7% discount which is a lot of cash... |
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ekorjiulai
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Nov 24 2013, 09:18 AM
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Getting Started
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QUOTE(restful increase @ Nov 22 2013, 07:27 AM) U can call ms yong who works 4 d developer at 019-3606619. Ask her 4 more details on the drawdown schedule. Thanks bro. I'll check it out. |
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ekorjiulai
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Nov 24 2013, 06:12 PM
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Getting Started
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Hi guys, does anyone have the schedule of payment for Block J? I'm based overseas and it's quite expensive to call directly... so will appreciate any info on this.
I've currently estimated the payment schedule as below. Any comments if it's a good estimate? Thanks.
Month %
Nov 2013 10
Jul 2014 10
Jan 2015 15
Jul 2015 15
Jan 2016 15
Jul 2016 15
Jan 2017 10
Jul 2017 10
This post has been edited by ekorjiulai: Nov 24 2013, 06:12 PM
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ekorjiulai
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Nov 25 2013, 07:36 AM
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Getting Started
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QUOTE(tengster @ Nov 24 2013, 03:15 PM) Does the 7% rebate in lieu of DIBS mentioned in anywhere? Don't you guys vested worry about it...more so for those who pay premium... I'm pretty sure you will get the 7% discount confirmation before you sign the SnP which is also when you'll have to pay the balance of 3% minus the 10k deposit when you made your booking. |
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ekorjiulai
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Nov 29 2013, 07:41 AM
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Getting Started
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Hi guys,
Does anyone know if the assessment rate for the Soho Block J falls under residential or commercial rate?
I think it was mentioned in previous replies that Block J owners will pay residential rates for water and electricity bill. Is this confirmed?
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ekorjiulai
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Dec 9 2013, 03:53 PM
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Getting Started
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Thanks restful bro for the update. You're like our CNN of Ekocheras. Keep it up!  Mont Jiulai may indeed be possible. My SPA has been agreed for signing just before CNY. Will post if I receive any new updates which have not been covered in this thread already. |
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ekorjiulai
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Dec 10 2013, 08:11 AM
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Getting Started
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QUOTE(restful increase @ Dec 9 2013, 09:01 AM) U can use credit card to pay for the balance of ur S&P amt. Some more no I interest charge n u get 2 earn credit card points.. Thanks bro for the heads up but I'm not based in Malaysia so don't have a local credit card.. exchange rates are pretty poor with overseas credit card. So will probably just write a cheque or something QUOTE(mybenz @ Dec 9 2013, 09:17 AM) Why want to b Mont jiulai or compared to Mont? In deed ekocheras is unique and should b proud to be the Cheras future iconic towers. Mall + Hotel+ Garden + MRT + iconic 480 ft twins tower at Cheras. This is the original EkoCheras! You're right. Cheras will be making history!  |
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ekorjiulai
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Dec 16 2013, 03:54 PM
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Getting Started
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QUOTE(Jagalat @ Dec 16 2013, 07:28 AM) I have no knowledge on tax for overseas buyer, can't offer any input. Waiting for other taikors to advise... You may refer to these links. 1) IRB http://www.hasil.gov.my/goindex.php?kump=5...2&unit=1&sequ=12) Article dated Feb-2013 http://www.globalpropertyguide.com/Asia/ma...Taxes-and-CostsRENTAL INCOME Malaysia Kuala Lumpur taxesRental income is taxed at a flat rate of 26%. Income-generating expenses are deductible from the gross rent such as interest expense, cost of repairs, assessment tax, quit rent, and agent’s commission. Depreciation does not qualify for tax deductions against income, and capital allowances are not available for residential and commercial buildings. Thanks bro. That's pretty much what I've read so far but was hoping there's a way around it.. But thanks for your input |
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ekorjiulai
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Dec 18 2013, 04:08 PM
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Getting Started
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Hi guys, do we not need to pay the property stamp dduty as calculated by this: http://www.jpph.gov.my/V2/kira_dutisetem.php?versi=1If yes, when do we need to pay this fee? |
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ekorjiulai
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Dec 19 2013, 06:45 AM
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Getting Started
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QUOTE(ecin @ Dec 18 2013, 10:12 AM) strata title issuance time Cool, thanks bro! |
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ekorjiulai
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Dec 31 2013, 12:33 AM
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Getting Started
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QUOTE(neonikson1 @ Dec 30 2013, 09:32 AM) I'm also in blk j , 12th floor, even though not the same floor but I'm sure we will meet having a drink at the sky lounge after work! Same floor so hello future neighbour! |
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ekorjiulai
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Jan 8 2014, 09:13 AM
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Getting Started
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QUOTE(restful increase @ Jan 7 2014, 02:59 PM) Developer has confirmed that they have scrapped the DIBS scheme AND also removed the 7% discount for non DIBS package. New buyers now have to pay FULL price without dibs n without any discount. Rationale is developer is submitting their enlarged 1.2 million sq ft shopping mall and hotel plan to DBKL for approval. There is insider info that DBKL approval is imminent. Hence the 316 room block N will not be launched, which reduces the number of residential units by 20%. With the substantial reduction of residential units, the developer has decided to remove dibs AND the 7% discount. This fulfills my earlier prediction that the remaining unsold units (namely block E) will enjoy a substantial paper gain when block N is scrapped. I've still yet to sign my SPA and have arranged to sign it end of this month. Will I still get my 7% discount if I go for non-dibs?  |
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ekorjiulai
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Jan 8 2014, 04:20 PM
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Getting Started
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QUOTE(restful increase @ Jan 8 2014, 03:32 AM) As long as u paid ur rm10k booking fee last yr, u will still qualify for the 7% discount..relax. the new ruling applies 4 those who wants 2 book units this year. Thanks bro, good to know. You're resourceful as always. Thanks! |
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ekorjiulai
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Jan 27 2014, 03:01 PM
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Getting Started
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QUOTE(pepper99 @ Nov 21 2013, 01:35 AM) which floor r u at? i've just got my loan approved also by Alliance.. Mine is block j 1168 sqft.. Hi pepper99, I've signed my S&P but noticed there was only a mention of one car park number eventhough I've been told that I would get 2. I've checked and they said it's tandem (car park space for two cars) so there's only one number. Did yours come with 2 car parks? If so, was there any mention of a tandem car park in the S&P agreement? Does anyone else here have a unit with 2 car parks? Thanks. |
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ekorjiulai
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Jan 27 2014, 03:21 PM
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Getting Started
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QUOTE(pepper99 @ Jan 27 2014, 08:13 AM) hi bro.. really ah?? i din pay attention when i signed s&p.. i haven received the copy of s&p as well so canot counter check yet.. but as u said.. the SA told me i will have 2 carparks in tandem.. the SA even showed me the location of my carparks on the floor plan.. Ya. I saw there was only one car park number but SA just said it's a tandem so there's only one number. Maybe I'm being overcautious but 4 years down the line, if they deliver the unit with one carpark, there's no proof that we've been allocated 2 car parks isn't it? In fact, the car park number that they gave me last time changed and they said that the floor plan changed so the numbering has changed as well. Please do post an update once you've received your S&P copy. Buying property is indeed quite stressful!  |
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