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 Commercial Title- TNB, Quit Rent and Assessment, Difference in Rate

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TSCherishYY
post Jun 7 2017, 10:48 AM, updated 9y ago

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Hi, I've recently booked a unit @ KL Traders Square only to realise that the property is in commercial title. sad.gif 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 notworthy.gif

 

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