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Investment THE LEGACY OUG, Luxury Living in Overseas Union Garden

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Shining star
post Jan 11 2021, 02:53 PM

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QUOTE(BumBleBitz @ Jan 3 2021, 12:48 AM)
Just visited the showroom of The Legacy OUG & got some information for sharing:

- It has 6 floor plans, SPA price starts from around RM700k, smallest layout is 1050sf to biggest 2230sf.
- 2 blocks, Block B facing west sunset, Block A is slightly pricey (according to developer, it’s due to facing KLCC)
- Car park range from ground floor to level 4 (not half level ramp one, but 1 level by 1 level up)
- Facility floor from level 5 to level 7 (the brochure is not updated, latest plan got gym, multipurpose hall, KTV room etc.
- Level 8-10 units have car parks outside the unit.
- Car Park from 2 to 4 per unit
- Maintenance Fee RM0.35/sf
- Tank breaker at level 17
- Completion period around Q3-Q4 2023

Pros:
- Freehold
- Residential Title
- Low density
- Layout suits big family
- EV ready car park (at least 1 car park comes with hybrid car charger port)
- surrounded by landed property, shoplot, pasar pagi OUG
- All units don’t have direct face to face door entrance, except Type A
- There are 4 elevators per block to serve 221 units with 8 units each floor

Cons:
- Only 1 main entrance & quite dangerous due to slope
- High Tension Cable just beside (HTC height up to level 17)
- Developer first condominium project (no track record for us to refer)
- Kitchen area is smaller (not an issue if you’re not cooking at home)
- Type A 1050sf has limited view, door entrance face to face with your neighbour

This is everything I know, I have few questions to ask:
1. It’s currently sold by developer sale team only, and no referral fee (not sure is it a good thing that they didn’t outsource to third party sale team?)

2. It has 60m away from HTC, not sure level above 17 will be safe?

3. Not too familiar with the developer background. Would be happy if anyone can provide reviews on this property.
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This site is very narrow and in the slope, near to HTC.
Maintenance fee is RM 0.35/sq ft? after Plus the Sinking fund it's about RM 0.4, so the smaller unit 1050 will cost you RM 410 per month.
I wonder how many car parks will be allocated? because the site areas hard to find parking and park along road side.

So if this Condo (smallest unit) also selling RM 700k, some people rather to buy single story terrace house. which costing about the same price range.
Only these terrace house all more than 30 years old.

Anyway, the location is good.


Shining star
post Jan 11 2021, 03:05 PM

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Joined: Feb 2020
QUOTE(mysimpack @ Jan 6 2021, 09:29 AM)
People always have misconcept on "cash rich". Personal cash rich and company cash rich is 2 different thing (separate entity). If you ask developers whether they prefer cash purchasers purchasers with loan, most will tell u they prefer purchasers to take loan. So that they wont have to keep chasing for money upon issuance of invoice. Most cash purchasers are cash rich at the point they decided to buy cash, but shit happens sometimes, unpredictable.
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Apart from Developer view. Let check the buyer view point.
If buy a apartment RM 100-200K with cash, may be it's can be explained that was your saving.
In case LHDN track you.

But buying a condo (RM 700K) with Cash, that a bit hard to explained.
Example: If you earn RM 10K a month or RM 120K a years.
You need to prove almost a least 7 years you don't eat or spend any money.
All the money you have systematically keep in the bank to show money only in and no out.
How to do?
Now Govn shortage of income due lower Oil and gas revenue and collectives from personal/corporate tax in 2020 (due to Covid 19 impact).
But yet 2021 will be still high target.
https://www.thesundaily.my/home/highlights-...dated-EE5017017


Shining star
post Jan 25 2021, 05:45 PM

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Joined: Feb 2020
QUOTE(Sonjaskl @ Jan 21 2021, 01:08 AM)
Well, is not apple vs apple comparison, it depends on what’s your objective.

Landed is for you, if you are a car person (no need to wait for lift!) or you aiming for capital appreciation (limited supply in mature area).

Condo is for you, if you want facilities (landscaping, gym, swimming pool, BBQ pit, etc), safety or sometimes stunning city view (unless you are buying The Mansion at Desa Park City which have all these advantages).
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Actually i also surveyed the market.
IF for those like to stay in OKR and want cheaper entry, then you can consider the Riamas residensi.
From this Legacy OUG to Riamas residensi only 3 minitues if no jammed.
But take note that Riamas is rumahwip, leasehold, small size. high density, properly no good view like this legacy OUG which located in hill view.



 

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