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Puteri Harbour Community
- Thread starter Qube3
- Start date
Hi, the "master title" actually was the amendment to the Teega particulars in the letter of offer for my loan... Only affect those who took loan from Standard Chartered.
Really taking their time to process the state consent ... perhaps you should call and enquire from your sales agent (UEM)??
Any idea where to go to Kaypohing? where is the sales gallery if they have one set up already.
I already drive to the site to see. Only one mamak canteen there and have ice kacang.
Heard that it is saying that they have a sales galley (under construction) but where?
Hi, Just been informed by my lawyer that they have received the K5 form (application form for state consent) and awaiting for Developer's submission together with project profile to the authority. This should happen very soon. This is good because state consent would go up quite hefty next year.
Hi everyone. I'm new here. Took me quite awhile reading thru all the pages. Superb info. I'm looking to buy a unit for own stay(future). Appears there's no rental yield at the moment but would like to come in early before the area gets developed. Any bro/sis here know of any new launches coming up? Looking at around 700-800k in the PH area. Tks.
there is no such thing as 100% 'international' lot. it is only a marketing term by developers.
in terms of policy, there is only bumi lot and malay reserve land.
'international lot' means developer still has not met the foreigner quota (20%, 30%, whatever).
this is my understanding.
There are actually the following:
Non Bumi and Bumi lots
These race quota based lots are created as a result of New Economic Policy where Bumis(Malays and Indigenious people) are given a special discount of 5% to 10% to ensure a better spread of wealth distribution. Non Bumis like Indians and Chinese are to pay a full price for it. This Bumi lots are governed by the local council and Ministry of Housing, the developers have to submit the quota when applying for the advertising licence. Normally after long periods and extremely long hassle with the local councils, then only these bumi lots can be opened for sale to the non bumis. The obstacles are the difference in pricing and the change in the status. (Pls don't ask me why there is this NEP thing, much too sensitive subject to discuss)
Freehold and leasehold
It is the status of the land use as gazetted by the land office and not under the jurisdiction of the local councils. Freehold simply means you can sell to anyone without having to ask for permission and leasehold means you have to ask for approval before transferring to others. Leasehold approval is normally given but the time taken for the process could be long. However, leasehold properties are not popular with banks as if the lease is shorter than 70 years remaining, loans are difficult to get. The market price is not good then. Moreso, if you need to renew the lease, you have to pay land premium which amounts to tens of thousands.
Malay reserved land: Something sacred. You do not want to touch. It is land granted by the Sultans to the Malays generations ago and cannot be transferred to any other race. It is usually for agriculture purposes with a single dwelling.
I have not seen any land title with the word "International Lot". Maybe it is a term coined for marketing purposes.
So in a nutshell, freehold and leasehold have bumi and non bumi lots. Malay reserved land is totally bumi.
Non Bumi and Bumi lots
These race quota based lots are created as a result of New Economic Policy where Bumis(Malays and Indigenious people) are given a special discount of 5% to 10% to ensure a better spread of wealth distribution. Non Bumis like Indians and Chinese are to pay a full price for it. This Bumi lots are governed by the local council and Ministry of Housing, the developers have to submit the quota when applying for the advertising licence. Normally after long periods and extremely long hassle with the local councils, then only these bumi lots can be opened for sale to the non bumis. The obstacles are the difference in pricing and the change in the status. (Pls don't ask me why there is this NEP thing, much too sensitive subject to discuss)
Freehold and leasehold
It is the status of the land use as gazetted by the land office and not under the jurisdiction of the local councils. Freehold simply means you can sell to anyone without having to ask for permission and leasehold means you have to ask for approval before transferring to others. Leasehold approval is normally given but the time taken for the process could be long. However, leasehold properties are not popular with banks as if the lease is shorter than 70 years remaining, loans are difficult to get. The market price is not good then. Moreso, if you need to renew the lease, you have to pay land premium which amounts to tens of thousands.
Malay reserved land: Something sacred. You do not want to touch. It is land granted by the Sultans to the Malays generations ago and cannot be transferred to any other race. It is usually for agriculture purposes with a single dwelling.
I have not seen any land title with the word "International Lot". Maybe it is a term coined for marketing purposes.
So in a nutshell, freehold and leasehold have bumi and non bumi lots. Malay reserved land is totally bumi.
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Is the word 'International Lot" stated anywhere on the legal documents such as SPA, land titles or whatever?
http://theastakajohor.com/
Pls enlighten as no where it is written that the lots are international lot. Freehold, yes.
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The UEM sales team told me that UEM properties at PH, EL are all 100% allowed for foreigners which means no quota restricting foreigners and they paid chaarges for that to the government.
Most likely they dont have a foreigner quota , and marketing people anyhow come out with creative term 100% international lots . My understanding some area of Iskandar is mark "resort developement " hence no foreigner quota.
Such as Horizon Hill , Medini and maybe few others .
Marketing people sibeh creative one , example a cluster house they call semi D cluster , some even call it a villa .
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Most likely they dont have a foreigner quota , and marketing people anyhow come out with creative term 100% international lots . My understanding some area of Iskandar is mark "resort developement " hence no foreigner quota.
Such as Horizon Hill , Medini and maybe few others .
Marketing people sibeh creative one , example a cluster house they call semi D cluster , some even call it a villa .
ya..LOL, SemiD is SemiD, Cluster is cluster, completely two different entities. just boz they want to safe more land space to command a higher price. Crap.
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exactly. "International " lot is a marketing ploy thought up by developers to 'jazz up' their developments ('international' equate to high class?).
policy wise, no such thing.
>Freehold simply means you can sell to anyone without having to ask for permission and leasehold means you have to ask for approval before transferring to others. <
and that is why the new ruling stinks to me. i purposely buy a freehold house and now you restrict me from selling to a certain segment of the market? what the !!
we are talking about the definition IN LAW under any state/national legislation.
Astaka is 100% open to foreigners. Means, ALL Astaka units can be sold 100% to foreigners. It means NO FOREIGNER QUOTA only.
However, this is the problem with the new ruling.
Say I (being Malaysian) buy an Astaka unit, under the new rule, I cannot resell to foreigner.
So my unit is no longer "international" but local.
further, i don't know how the hell they going to implement this.
I am positive they are cronies of government officials who bought astaka to speculate, cano't be all for own stay.
so they can't resell to foriengers?
somehow.. i believe that they still BOLEH. that is the true meaning of malaysia boleh.
btw, i am not saying Astaka is a lousy investment. I am just wondering aloud what may happen. so no offence to astaka buyers, ok?
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Thanks for the information. Not sure whether I will be billed since I still have not received any update on my state consent yet... :(
The state consent for Teega has now become a concern. Hope it will not drag until 2014 when the new ruling kicks in. But... they may purposely drag until then to collect more revenue? Sigh!
Penalty kicks in with effect from State of Consent or SPA? If it is former I suspect it is a delay tactic to reduce compensation.
Bro I am wondering the same thing since i have astaka as well.. as local does that mean I am screwed?
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