Heard about this new project in Kinrara to be launch next year, any thoughts on this? Pricing seems reasonable for the area as it situates near to Pavilion 2

How much?

RM 899,990 for a double storey terrace
Land Area: 22x75
Built-Up : 2,251 sf

Got the information from PropertyGuru. Anyone familiar with this area & kindly advise.

Leasehold

It's behind some low cost flats if not mistaken. That and leasehold.

If acceptable, not bad product.

Mahajaya? Then means it was part of the Kinrara Residence or actually Taman Damai Utama, where Mah Sing took over the JV to develop the current completed phases and renamed it Kinrara Residence.

It should be the last piece of land within Kinrara Residence and next their 2 storey and 3 storey linked houses which now selling subsale at RM 850k to 1mil.
Opposite is Kingsgate which is facing the low rise flats.

Location quite subjective, not too inner of within whole Kinrara but quite centre of it, it's consider quite decent but not sure if the quality issue or the leasehold issue deteriorated the selling value.

Whole Kinrara by I&P, better material and quality, was sold at much higher price but with strong demand after subsales. Just not Kinrara Residence (more modern) and Taman Damai Utama. The price seems stagnant since 2012 or 2013.

Like u mentioned, it's probably the freehold (INP) vs leasehold (puncak jalil, damai utama) factor.

Many people underestimate it but price difference after 20 - 30 years is quite apparent. When lease left 50 - 60 years also, banks reluctant to grant loan.

got exact location?

imho 900k still a bit overpriced leh... unless it's strata with clubhouse facilities

Puncak Jalil too big.

If on geographically, Damai Utama (still within Bandar Kinrara township) is much better than Puncak Jalil. Neighborhood and surrounding also totally different.

Conducted a site visit over the weekend. Seems like the attachment above is the location of the project. Am having a dilemma now & in my honest opinion leasehold is not my main concern, my number 1 priority is more on the outlook and quality of the product

site looks ok, just that if this is leasehold, 2 storeys...hope they can bring it down to 800k

yeah let's hope the price is around 800-900k. Falls well within my budget... are you looking to purchase property also at the mean time? can exchange some ideas haha

Not sure about the quality of the developer's previous project but the location wise is decent. If it's around 800k then it falls within my budget. Hope to see more next year since the launch is in q2 based on what i know from them

yeah bcz exceed 900k u have the puchong legenda, then kinrara inp freehold at 1.03 mil

So, 2 storey terrace, leasehold, 800k is the fair value

Curious when legasi 4 will be launched. The pricing will be better than this property if it's around 1m coz of freehold status.

legasi 4 is 1.1m before 5%, but site wise not so ideal, lower than the main road on jalan Impian indah

I'd be very surprised if legasi 4 SPA price is 1.1mil. Legasi 3 is already 1.08mil. It would probably be 1.2 - 1.3mil because it is 22x80 vs legasi 3's 24x65.

Yes, site is not so ideal because lower than the road behind.

Thank you fellow sifus for your feedbacks and insights. Shall get more information from the developer and update y'all should i have any. The journey of purchasing property is thrilling

Got this from the website. https://mahajaya118.com.my/register/ the link to register for those who are interested. Spoken to the developer and launching date tentatively falls on Q1 of 2021

Interested on this project. any good news on launching pls share. tqtq

Current sub sale at Damai 2 & 3 same size lease hold some less than 700k...Not sure should go for subsales cheaper deal or this 800~900k new but more expensive.

is this under APDL still?

I have registered for the project. So far haven't receive any related information. Still doing some survey and comparisons for the property nearby. Please share to me as well if you have any remarks.

I have taken the area into consideration but due to my budget and also ability to fork out such high amount of upfront costs, i have decided to look at new project which require lower entry costs. Not sure if it's the right move tho.

Yet to check with developer. Perhaps anyone who has check with developer can share here as well.

Any sifu here know what is the circled place?

next to that is another construction site???

Not too sure. I will make an effort to drive around. Or any Kinrara sifus can advice. Would appreciate your help

The place with bare soil was an illegal dumping site, I believe the building was the illegal factory processing the rubbish before being dumped.

There is lots of bad review on the workmanship in the previous project of this developer, anyone have comments?

I have visited the previous project in alam damai.. it pretty good to me.

The unit spec is kinda good for me.



This post has been edited by Tera: Mar 3 2021, 06:56 PM

I reckon we can take SP Setia & Mahsing landed project as a reference. The main contractor of this project, MTL is also responsible for the aforementioned developers, notably SP Setia. Need to dig further and go for site visit to reaffirm the workmanship.

Then have to think twice..

Guys.. any contact of the sales advisor.. called the number in google or propertyguru.. no one picked..

The project haven't launch yet. you can fb msg them I guess.

Called the sales office and should be launching soon but I feel the unit was overpriced for a leasehold unit. Bandar Kinrara buyers emphasise a lot on the land title. The huge difference after 10-20 yr down the line.

Damai Utama same land size subsale around 650k - 750k only. Good luck.

1 lelong unit nearby - 13, Jalan DU 1/1, Taman Damai Utama, Puchong, Selangor reserved at RM655k auction in June 2021.

This post has been edited by Tera: Apr 5 2021, 10:55 PM

Agreed. Over pricey especially bad timing now wonder the sales will be good? When there is a lot of free hold over the lease hold, buyer will have better option to chose and make leasehold property price low in order to be competitive.

Can I know the name of the new freehold project in this area?? How much is it?

This is not a freehold project... its just a LEASEHOLD..

Advertisement 900k assume 5%- 7% rebate. the price should be around 850k for this project.

ya.. sucks

Lol so many commenters bashing it before launch.

My prediction is still nonbumi lots all taken up in first week of booking. Or left 3a or 13a etc. oni.

Good luck finding other new launch landed projects not in kota kemuning, kajang, semenyih, setia alam, puncak alam, rawang etc.

850k top up another 50k can buy 3 storey DU3 lease hold unit.

DU3 is?? this 118 also leasehold right?

Kinrara Residences or DU 3 about 900k u also can get.

but DU3 layout and build up is old fashion.

Kinrara residence is more comparable.

Agreed. but there are still many landed projects in Puchong area la. dun worry.

the attached red colour and black circle leaseland was sold last year if I'm not wrong. more housing development again.

Blue circle also residential land will build houses/ condo lagi.


Attached thumbnail(s)

Maybe will have more. But which business owner will see his competitor project sell out at 850k then decide to launch his product at 700k? Assume fuji apple and fuji apple la. Not fuji vs local apple.

Of course at minimum will match selling price if scared. Practically, biz wanna maximise profit. I'd slap a 5 - 10% hike.

Anyhow, evryone spend their hard-earned money different. Willing buyer willing seller.

Fair justification. Back date to 10 years ago, landed properties are expensive at that point of time and 10 years later it only keeps on increasing due to scarcity of land and people will never stop saying it's expensive. To me, it is basic demand and supply. Landed properties regardless of good or bad timings, it is still a good asset to acquire to hedge against inflation. Moreover, with the steadily rising cost of construction costs, do you think the next project pricing will be cheaper, same or higher? You make the call

Agreed the property value is improving steadily but it is essential to consider the developer and the surrounding value appreciation

SP Setia vs Mahajaya is
1. Fuji Apple vs Fuji Apple
or
2. Apple vs Samsung phone

The neighbourhood properties were launched by MahSing about 10 years ago and do some homework and see what is the subsale value. You will find it very interesting. Different between Leasehold vs Freehold prop.

It is your call to buy or not. I agree on willing buyer and seller for those who stay in this area will know what's happening.

For own stay I think is ok
For investment - think carefully.

This post has been edited by Tera: Apr 12 2021, 01:51 PM

Is it under construction already?? How much is the launching price?

Yeap, freehold price appreciates better. But legasi 3 nearby already 1.05mil. Buyers had to ballot with like 20% chance to get oni. And that's already 200k higher than our speculated 850k. Many ppl just want landed living in spite of lower appreciation. That's the reason why rimbayu all the way in kota kemuning also habis sapu.

Wanna invest for good returns, better to find higher risk assets. Landed prop low risk surely lower returns.

U better just ring them up and ask. See mahajaya fb page. Judging from the frequency of their posts lately, likely within the next month.

Yes. They have started the construction already... this can be found in the Mahajaya microsite.

I just called the sales office & have been told that the price has adjusted to around 930-950k. so after a rebate of around 880k for a leasehold intermediate unit.

The sales officer said after everyone heard this is a leasehold project and the feeling like a burning heart get to pull from the cold water.

This post has been edited by Tera: Apr 13 2021, 04:20 PM

Lol. So much effort u put in for a project you think is overpriced. 😂

Good on u for helping random strangers u've never met to save money by not buying this project. 😂

Guys, what is your opinion on the indicative price above?

I have called mahajaya, feedback this project response was overwhelming & the price is not finalize yet. Tentatively from above 900k++ for intermediate & 1.6m above for corner lot. Pre launching after Hari Raya. I believe is overprice for this project.

Top up 100k can buy 3storey legenda already??

I'm looking into this project and would like to share a piece of my mind here. No harm in sharing information.


Agreed. very much depending on whether you are willing to pay for the premium.

Bro any idea the new site project under which developer?

Mahajaya Workmanship ?

https://www.youtube.com/watch?v=OnHg3AmLJm4&t=7s

This post has been edited by cscheat: Apr 21 2021, 08:41 AM

https://forum.lowyat.net/topic/2503203/all

Good to raise the concerns on the workmanship. from past LYN member mentioned is Talam quality.



This post has been edited by Tera: Apr 23 2021, 04:15 PM

wa... mahai... gg

Well, there's news that they changed the management in mahajaya and the quality is improving. So who knows? Let's see.

Probably is to the next generation of the family. Mahajaya is a family-owned business. Hopefully, it will be better. The progress of the development was pretty fast and they are giving Sandbrick as a return for the premium price.

SP projects are way a lot better with a more reasonable price summore quality is proven.

Mahajaya sucks

https://mahajaya118.com.my/wp-content/uploa...dual_200106.pdf
E-brochure is available on the website. Sifus any comment?

gg

Why gg?

Detailed specification not provided building material can change anytime as they want. Smart move Mahajaya ...

What you see = not what you get.

hope they deliver good quality, with this development which is a good size, potential for grand entrance (Is there any?)

agreed. hopefully they can provide a list of detailed building material specification and focus more on providing values to purchaser

Is it a good buy?? Or need to compare more?

For leasehold project , price consider very expensive

This post has been edited by stevecheahsw: May 4 2021, 01:45 AM

No HOC apply, you have to pay MOT when sign S&P, Loan disbursement fee and Stamp duty pay by your self.

dont buy this project. sucks

Lease hold 96 years left, after VP 94 years left. Headache

gg max. heard launching date delayed.... price could go up again

maybe 118 boss sohai

Leasehold 96 yrs left. Price up from 30k in less than 2 months.

doesn't even want to renew the lease tenure back to 99 years but this is the norm for the poor quality developer. Details spec is not disclosed. They will switch to poor quality product after they achieve their target. Sand brick built-up deteriorate the customer value. aims for short term profits. A brand like 118 @ Kinrara in Damai Utama is like a Wolf (Damai) covered with sheepskin(Kinrara).

Good luck pretty sheep.


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no HOC lagi.. gg max

It was so terrible workman ship, if really that you want to sell also no one to buy.....

This post has been edited by mini orchard: May 8 2021, 09:36 AM

actually worker cost and material cost all going up at this time... and economy not doing well, tough time to sell high

How about the quality?? I just worry price and quality mismatch only, else if 900k still okay looking at Legasi nearby..

50% of the units are for Bumi...come on man, the rest to compete for the remaining 59 units...Don't be so hard up lah...It starts with racisms and it will not go down well for non malays in future

Bumi rate confirms low. when Bumi convert non-bumi price up another 7%-10% standard.

Futhermore all the strategic units either being hold by the management or reserved for bumis....
So what is left after taking into account the management units and bumi reserved units ....so much hype for overpriced shitty 96y lease old units...
As I said it is institutionalise racism from the beginning ...

Welocume to Msia... Msia boleh!

Malaysia Boleh. This phenomenon is common across property industry in Malaysia. The one who suffers are the people. Invest wisely my friend.

What do you think of future property price considering the surge in commodities price? I personally think price will certainly be passed onto consumers or price remains unchanged but quality drop. This is going to be an industry norm.

I think the depreciation in ringgit value which is imminent also must be taken into the equation. Developers would certainly inflate the price and provide substandard quality materials and workmanship. End of the day the end user would bear the cost .. Among the end users the non bumi will feel the full brunt !

50% quota seems kinda high if compared to other projects.. is this true?

96 years after completed, or now already left 96 years? hopefully the lease can be renewed to 99 years before VP.. but which units are left for non bumi?? any clue to share?

Yes. I agreed with you. Good good no cheap, cheap cheap no good. I believe the landed property price will continue to grow slowly and hedge against market inflation but don't expect the boom in 2010 - 2015. It will never happen again in the next decades. For condos and serviced apartment, it depend on the speed of development. Now developer like to build condos to maximise profits. Ppl always forgot when the property gets olds, many parts need to be replaced how you replace all these parts.

To me, the commodities price have entered into supplies and demand inequal state. It is kinda difficult for us to see how the property market move.

Macroview to highlight some point here.
1. Many developed countries have committed to reducing carbon emission. This includes the steel manufacturer China, in past decades China is the largest steel producer in the world. Starting April this year the govt has introduced the policy to the production/emission. Furthermore, China govt removed the export tax rebate to discourage export to other countries. (for Construction building steel, cement and bricks is the main material. The cost increase to about 30%-100% vs 1-2 year ago, China is experiencing a very serious shortage of commodities supplies.
2. 2024 - carbon emission tax will be imposed in many developed countries, in other word Steel, Cement and Bricks will become more expensive to a certain extend.
3. The international shipping on the container and bulk carrier cost raising all-time high (>100%)
4. Upsurge in India active covid cases, India is 1 of the big countries producing Iron Ore/ Shortage
5. technology development has enabled ppl working from home for certain jobs, in key developed countries the observation is that, border place close to main city property price upsurge by 10% - 20% particularly in UK, US and China

Microview on Malaysia.
1. Property supplies (particularly condos and serviced apartment) are oversupplied. After MCO, you can go drive around and observe the main city at night look at the high rise building how many lights is on. The occupancy rate is my concerns, not unsold stocks.
2. Shortage on affordable landed properties - always is the issues.


It's pretty easy for you to reconcile the numbers, say for example for 118

Land price (22 x 75 = 1650sqf ) = RM200 x 1650psqf = RM330,000
Construction of building cost say around 250k - 350k
if 118 sell for 900k - 330k - 350k = developer construction profits RM220k (exclude land profits)

Just share my thoughts. Free to comment

Sales Gallery is available for viewing on appointment basis starting this weekend as confirmed with developer sales person

Launched aldy??

Yeap. Not much unit left when i went yesterday. Will need to book an appointment with them.

Got the sales package or house specification to share?? I guess not under HOC??

Around 10 units left as of lunch time yesterday. No HOC

Thanks! Did you book any unit? If got aircond piping, water pump point, or water filter point, then even better 😂😂.. Hopefully got water tap at car porch

Yes. I did booked a unit.

What is the SPA price and net price after rebate for intermediate unit?