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 Commercial rate to residential rate

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SUSJasonLeeX
post Jul 15 2018, 11:49 PM

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QUOTE(LazyKurosaki @ Jul 15 2018, 11:47 PM)
Hi guys,

Just bought one of the commercial property in puchong for own stay. I saw one of the thread that we can convert the following rate to residential

1 electric
2 water
3 assessment

May I know if this is true?

The property also est to complete next year latest June. Is it better for me to apply for full installment instead of just serving interest?
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No... commercial rate = Service apartment etc.

Residential rate = condo etc.

If you bought a service apartment, you pay commercial rate
SUSJasonLeeX
post Jul 15 2018, 11:59 PM

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QUOTE(Lonely12345 @ Jul 15 2018, 11:55 PM)
But how come the developer told me that he will apply on behalf of all of buyers to convert the "Commercial" rate (due to Commercial Land) for utility, quit rent and assessment into "Residential Rate"???

The developer claimed that the whole building will be built purely for residential purpose (meaning no shopping malls attached), so it may be possible to convert from commercial rate to residential rate.....the service apartment is estimated to complete construction in 2020.
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Doesn't matter, if it is called serviced apartment.. it is commercial rate.

The main reason is because it is build on commercial land....

If it is not built on commercial land they won't be calling it service apartment in the first place


Also, they are not allowed to build condo on commercial land... so in order to go about this, they build "service apartment" even though there is no service involved (housekeeping, room service, F&B etc )

This post has been edited by JasonLeeX: Jul 16 2018, 12:02 AM

 

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