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 Legasi @ BK8 Kinrara, Freehold DST

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IronManz
post Apr 9 2023, 10:48 PM

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QUOTE(888-Alien @ Apr 8 2023, 01:15 AM)
In general BK8 land is high at 40m-50m, which is silmilar to BK5 Permai and Desiran, BK1-BK4 are around 30m,
For wellness city, after I visited the site during the official site opening, I don’t it is a good bet, developer is very vulnerable, with 28 acres of land projecting RM11BN is crazy and u realistic, Pavilion City of 60 acres only hit GDP of RM8 Bn, I told the sales lady that the project is very risky.
And to my expectation 70% of the said parcel being alienated and sold to 3rd party.
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If it takes a long time to develop the integrated city, by the time it does, there won't be many years left in the lease. Going for freehold integrated developments is more worthwhile.
IronManz
post Apr 9 2023, 11:35 PM

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QUOTE(888-Alien @ Apr 9 2023, 11:05 PM)
I don’t see leasehold is a big issue
If the location is the same, and the price is different by 10%-20%, take freehold for sure, however different by 30% or more, leasehold could be a good bet
Many people can’t really figure out how long is 99 years
- Imagine if a man purchases a leasehold house at age 30, the lease remains is 99 years, assuming his son just born
- assuming he lives till 80 years old, the lease remains 49 years, his son already 50 years old, his grandson already 20 years old
- after his son pass away at age 80, the lease remaining 19 years, the grandson is already 50 years old, the great-grandson already 20 years old
and so on…

In short,  a 99 years lease is able to let 5 generations to stay

When come to the expiry date, the current cost of renewal is about RM30,000 for another 99 years (5 generations)

I foresee Bukit Jalil will overtake Mon’t Kiara as more vibrant city in 2035-2038, my guess
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You're right, if we aim not to sell it off. For an LH property with not many years remaining, may be harder to sell / buyer to get loan
IronManz
post Apr 10 2023, 10:39 AM

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QUOTE(888-Alien @ Apr 10 2023, 10:11 AM)
Leasehold property is usually cheaper, if you own a leasehold property which has lease less than 60 years and wish to dispose it,  you may opt for to 99 years renewal with paying premium, top up remaining years till 99, Selangor land office usually will approve your application, unless that the government has specific project that need to take back the land, but in this scenario, freehold property is not perpectual under NLC compulsory acquisition.

Freehold property is limited now and not cheap, wisely choose the house to stay, for property buyer who look for own stay,  location shd come 1st, then only think of future appreciation issue.
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Own stay for own generation is ok. For it to last until future descendants will have to consider the FH LH factors.
IronManz
post Apr 10 2023, 08:03 PM

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QUOTE(888-Alien @ Apr 10 2023, 11:12 AM)
Bukit Jalil has 3 large plot of land remaining
1. WCT - 70 acres
2. MRCB - 300++ acres
3. Land opposite Pavilion - 70 acres +-
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Where are the locations of the first 2?

The 3rd one is not wellness city?
IronManz
post Apr 11 2023, 04:40 PM

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QUOTE(888-Alien @ Apr 10 2023, 11:22 PM)
WCT is the land adjacent to KESAS & OUG, previously by WCT, now under Malton group with substantial stake, this land is quite strategic but due to Pavilion BJ positioning, it took the shine off this piece of beautiful land
Nothing much WCT/Malton can do except change the overall master plan (which contain a mega mall initially)
The landowner need to reposition it’s target market, timing also a key factor, wrong timing
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You mean. W City by Kesas?

What about the mrcb land, where is that?
IronManz
post Apr 12 2023, 12:04 PM

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QUOTE(888-Alien @ Apr 11 2023, 05:06 PM)
Yes
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Where is the mrcb land?
IronManz
post Apr 12 2023, 01:37 PM

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QUOTE(888-Alien @ Apr 12 2023, 01:28 PM)
👆👆already shared above
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You mean the orange area.

Why do you say tpm a failure?
IronManz
post Jun 13 2023, 10:30 PM

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QUOTE(KCJas @ Jun 13 2023, 05:15 PM)
Got new launch at nearby Irama Bandar Kinrara

user posted image
user posted image
user posted image
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Thanks for the on-site sharing KC, very useful.

Only 26 units, when can start booking?
IronManz
post Jun 22 2023, 03:14 PM

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QUOTE(bigman @ Jun 22 2023, 01:04 PM)
but corner not nice.... triangular shape and front portion is wider....if back portion wider still can do extension
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Still sold out, maybe they considering to extend the front living room. Will look quite grand

 

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