Living in JB

[Whathefish]

Any norms for Loan Legal fees when taking up loans from banks?

Ignore the above, din't see the post properly. My first purchase's fees waived last time. So quite shocked when the 2nd's is so high.

 

[Aisanbo]

brother, how about mount austin area compared to indah area. in terms of traffic, distance to causeway and amenities.

I'm not qualified to comment much as I don't live there yet.
So far, I use the NSHW and exit at the Adda Height exit to go to Cascadia.
No traffic jam and about 10-15min from the exit.
From cascadia, it is just beside Setia indah so about 3-5min drive I suppose.
From cascadia to tebrau city, its about 10min and no jam.
I think mount Austin area can also make use of the NSHW and via EDL to go Singapore without passing through Pasir Gudang highway.
My experience of bad jams are at tebrau highway and Pasir Gudang highway.
Not sure which Indah you refer to. In my opinion, the tebrau area, including Setia indah, cascadia and mount austin, would be quite fast to Woodlands via NSHW and EDL without any traffic lights.
Bukit indah on the other hand, is nearer to Tuas, which is less jam at the moment.
But I wonder how the people would react when the woodlands toll fee becomes higher than Tuas.
Definitely would see some shift of traffic from woodlands to tuas.

 

[lastresort]

I'm not qualified to comment much as I don't live there yet.
So far, I use the NSHW and exit at the Adda Height exit to go to Cascadia.
No traffic jam and about 10-15min from the exit.
From cascadia, it is just beside Setia indah so about 3-5min drive I suppose.
From cascadia to tebrau city, its about 10min and no jam.
I think mount Austin area can also make use of the NSHW and via EDL to go Singapore without passing through Pasir Gudang highway.
My experience of bad jams are at tebrau highway and Pasir Gudang highway.
Not sure which Indah you refer to. In my opinion, the tebrau area, including Setia indah, cascadia and mount austin, would be quite fast to Woodlands via NSHW and EDL without any traffic lights.
Bukit indah on the other hand, is nearer to Tuas, which is less jam at the moment.
But I wonder how the people would react when the woodlands toll fee becomes higher than Tuas.
Definitely would see some shift of traffic from woodlands to tuas.

great input, i wanna hear more views from people who know about Austin-Tebrau-Indah-Adda-Dato onn area, there's so many townships there. =)

 

[lastresort]

i wanna re look this area, been to almost all the developments there, but the thing is, we always travel from Nusajaya area via pasir gudang highway and have never been there directly from Singapore. Seems like Adda Heights is well located.

 

[Puteri harbour]

Thanks all for the reply. I have a shock when I ask for a quote and it come up to MYR18k++. Unlike Singapore the legal fees is $3500 regardless of loan Amt look like it is going to be more cost efficient to take equity loan on my existing property to find the Malaysian property. Still cannot believe it is more expensive than Singapore in S$ terms. Once again, Many Thanks.....

Cheers,
PH

Hi PH - The total of Loan Stamping and related Legal Fee should be roughly 1% of your loan amount. This is after a discount of about 35% to 40% on the legal fee.

 

[jasonjst]

Thanks all for the reply. I have a shock when I ask for a quote and it come up to MYR18k++. Unlike Singapore the legal fees is $3500 regardless of loan Amt look like it is going to be more cost efficient to take equity loan on my existing property to find the Malaysian property. Still cannot believe it is more expensive than Singapore in S$ terms. Once again, Many Thanks.....

Cheers,
PH

are you buying a resale property ? if not , developer usually absorb th legal free right ?
fournd that quite a lot of money is "gone down the drain" if one were to buy resale if property value is high .

 

[mathstub]

Any Bros or Sis chooses to pay the interest only for your mortgage (not paying the principal) before the construction is complete? Do you think it is worth doing this?

Does your bank allow you to choose to start paying the principal (the full amount of instalment) plus interest any time before the construction is complete? Do you need to state at the beginning when to start or you only need to tell the bank a few months in advance when to start?

For the above, does it make a difference if you buy condo or landed property?

 

[Puteri harbour]

Absorb legal fee for S&P agreement but not loan.... So those intend to take loan, watch out...

Cheers,
PH

are you buying a resale property ? if not , developer usually absorb th legal free right ?
fournd that quite a lot of money is "gone down the drain" if one were to buy resale if property value is high .

 

[jasonjst]

brother, how about mount austin area compared to indah area. in terms of traffic, distance to causeway and amenities.

Bro , if you look a the list of forumers who buy properties in Iskandar , you notice that Indah ( Nusajaya ) take up almost 90% of buyer . There is something Singaporean like about this new found taman , a lot of people simply buy their dream home in Nusajaya like love in first sight , kind of hard to explain. It is just different kind of feeling you get when you visit the old JB city , and its surrounding tamans. I got a friend stay in Woodland area , but he buy Nusa Duta , he say he like it here. I am quite sure he can get around Mt Austin , Setia Indah areas as easily too ?

 

[jasonjst]

Absorb legal fee for S&P agreement but not loan.... So those intend to take loan, watch out...

Cheers,
PH

really ? didnt pay attention on that last time .. maybe amount was small as my loan was like 200K then.

 

[mathstub]

The legal fee for the loan should be: based on loan amount, for the first RM150,000 x 1.0%; For the next RM850,000 x 0.7%
The stamp duty for the loan: 0.5% of the loan amount

For Horizon Hills Bros and Sis (especially those who have bought their houses from the developer in the past 6 months), has the developer absorbed the legal fee for both S&P and bank loan?

My sales in HH said the legal fees for both S&P and bank loan were both absorbed by the developer. Is this common practice for buying landed property from the developer?

Just curious (my curiosity explains partly my reluntance of buying a condo),
i) are both legal fees for both S&P and bank loan absorbed by the developer for buying freehold condo?
ii) So freehold condo by default must be a strata title, right?
iii) Regarding the stamp duty on transfer of property (based on market value), for freehold condo, the stamp duty is calculated based on the market value when the strata title is transferred from the developer to the owner. But then I have heard a lot of sales and condo owners said in the common practice, the strata-title will take many years to be transferred to the owner. By the time the strata title is transferred to the owner, the owner may not be the first owner, maybe already be second owner or the third owner. How can this be possible?
If the strata-title is not transferred, where does this stamp duty on transfer of property come from? How can condo owners sell the condo to another person without strata-title in their hand? If the strata-title is transferred to the owner too late, assuming the market value is a lot more than the purchase price, the legal fee and stamp duty can be a lot higher compared when the strata-title is transferred at the beginning of the purchase.


Any Bros and Sis here who have bought condo/apartment have thought about the above issues?

 

[mathstub]

Certainly not payable upon signing of S&P. I remember it has something to do when the master title of the landed property is transferred to the owner from the developer. Any Bros can confirm this? Of course, we can always check with the lawyer about this.

Is stamp duty (1% of first 100k, 2% of next 400k, 3% of remainder) payable upon signing of S&P (sales & purchase agreement), or upon completion? This is for new projects.

 

[Sanur]

Hi Brothers and Sisters,

I am looking at getting a landed property in JB. Preferably, the amenities include parks so that my kids can run around. I visited East Ledang last week but was disappointed that all properties are sold out.

Do you have any recommendations?

Best regards.

Hi tayjc,

Have you check leisure farm out? They have lots if space for kids to roam. There is an equestrian with horse riding facilities, rabbit farms, fruits n vegetables farm which they holds yearly fruit picking activities for residents. There's is camping site n fishing pond too, their BWV. residents communities are very active in holding activities for their own residents too.

 

[spidey]

great input, i wanna hear more views from people who know about Austin-Tebrau-Indah-Adda-Dato onn area, there's so many townships there. =)

Bro aisanbo is right - the few places he mentioned links to NSHW and once u hit the hiway, no hassle at all..that is until u reach the city area..
I got my unit in bandar dato Onn....find it convenient vs austin and Setia... Coz it's nearer to the hway....
Adda is a completely different story...very very nice and near to hiway too....dato on and adda are just next to each other...

 

[crystal_tiong]

Absorb legal fee for S&P agreement but not loan.... So those intend to take loan, watch out...

Cheers,
PH

Does disbursement fee same as bank loan legal fees?

 

[Aisanbo]

Bro , if you look a the list of forumers who buy properties in Iskandar , you notice that Indah ( Nusajaya ) take up almost 90% of buyer . There is something Singaporean like about this new found taman , a lot of people simply buy their dream home in Nusajaya like love in first sight , kind of hard to explain. It is just different kind of feeling you get when you visit the old JB city , and its surrounding tamans. I got a friend stay in Woodland area , but he buy Nusa Duta , he say he like it here. I am quite sure he can get around Mt Austin , Setia Indah areas as easily too ?

No offense bro, I've seen many comments about people being ignorant about Nusajaya and have the impression that it should be same as the old JB. It's because they did not go down personally to see the place.

Personally, I feel many Nusajaya buyers maybe ignorant about the New Tebrau area like Cascadia, bandar dato ONN, Adda heights, etc. When you exit NSHW at Adda Heights exit towards Setia indah and Cascadia, the roads are wide and new. There's much greeneries and a lot of room for future development. If Setia Indah is to Bukit Indah, then
Setia Eco cascadia is to Horizon Hills. You know what I mean....
From google map, the highway distance from tuas link to bukit indah is 21.5km.
The highway distance from woodlands link to NSHW (via EDL) Adda height exit is about 14km.
So I see a potential for this New Tebrau area which still has much land for future projects.
We can wait but I would project a price escalation when these are launched in future.

 

[curiouscat]

Bro , if you look a the list of forumers who buy properties in Iskandar , you notice that Indah ( Nusajaya ) take up almost 90% of buyer . There is something Singaporean like about this new found taman , a lot of people simply buy their dream home in Nusajaya like love in first sight , kind of hard to explain. It is just different kind of feeling you get when you visit the old JB city , and its surrounding tamans. I got a friend stay in Woodland area , but he buy Nusa Duta , he say he like it here. I am quite sure he can get around Mt Austin , Setia Indah areas as easily too ?

Nusajaya really does offer something not available in Singapore except to the very rich (landed property in natural settings). I would really like to know though what the actually purchases in JB by Singaporeans are. IT is possible that the list is representative. It could also be that the forum attracts the same type of people that buy in Nusajaya and it is not representative at all. My guess is Singaporeans might well buy in the CBD more for investment (but it is only a guess) and less for living. My guess is also that if Iskandar is going to be successful the current CBD will also do very well.

It is possible for Iskandar success to bypass the current CBD. That would be a big urban planning failure though. And with such a big failure I wouldn't count on everything else being done well. So my guess is CBD will also do well. There is talk of building on the strengths the CBD has, these need to be carried out well. Some of these dead looking towers need to be dealt with (remodeled or knocked down and new towers built. It could really benefit from a very well done development on the old CIQ land (mix retail, restaurant, hotel maybe). Doing something with the dead mall that is near the Royal Palace would also be wise - it is a very scenic spot. I can't imagine how the KSL condos can really be a success if they don't do something about the roads around there. My guess is there is a lot of money in KSL and therefore the need for road changes won't be ignored - but you never know what can happen.

 

[yonglip]

No offense bro, I've seen many comments about people being ignorant about Nusajaya and have the impression that it should be same as the old JB. It's because they did not go down personally to see the place.

Personally, I feel many Nusajaya buyers maybe ignorant about the New Tebrau area like Cascadia, bandar dato ONN, Adda heights, etc. When you exit NSHW at Adda Heights exit towards Setia indah and Cascadia, the roads are wide and new. There's much greeneries and a lot of room for future development. If Setia Indah is to Bukit Indah, then
Setia Eco cascadia is to Horizon Hills. You know what I mean....
From google map, the highway distance from tuas link to bukit indah is 21.5km.
The highway distance from woodlands link to NSHW (via EDL) Adda height exit is about 14km.
So I see a potential for this New Tebrau area which still has much land for future projects.
We can wait but I would project a price escalation when these are launched in future.

Bro..i think u missing the coastal highway from bukit indah to causeway which is about 15km...

 

[jasonjst]

Nusajaya really does offer something not available in Singapore except to the very rich (landed property in natural settings). I would really like to know though what the actually purchases in JB by Singaporeans are. IT is possible that the list is representative. It could also be that the forum attracts the same type of people that buy in Nusajaya and it is not representative at all. My guess is Singaporeans might well buy in the CBD more for investment (but it is only a guess) and less for living. My guess is also that if Iskandar is going to be successful the current CBD will also do very well.

It is possible for Iskandar success to bypass the current CBD. That would be a big urban planning failure though. And with such a big failure I wouldn't count on everything else being done well. So my guess is CBD will also do well. There is talk of building on the strengths the CBD has, these need to be carried out well. Some of these dead looking towers need to be dealt with (remodeled or knocked down and new towers built. It could really benefit from a very well done development on the old CIQ land (mix retail, restaurant, hotel maybe). Doing something with the dead mall that is near the Royal Palace would also be wise - it is a very scenic spot. I can't imagine how the KSL condos can really be a success if they don't do something about the roads around there. My guess is there is a lot of money in KSL and therefore the need for road changes won't be ignored - but you never know what can happen.

Good discussion bro ....
So far I see Malaysian gov got different mind set from Singapore gov . In SG 85% stay in HDB , surrounding in fracture , MRTs , shops , etc are mostly own by gov and its GICs . As our gov say, nowhere in the world you can find developer doing upgrading your houses or even estate 10yrs, 20yrs after you made purchase. Mostly taxpayer monies if not profitable but will make us pay by asking you to move out to a smaller place.

Here in old JB city (mostly private own, 80%), who want to pay to beautify your houses, estates with gate and guards? Are the residents willing to pay? It is very much more costly to re-do an old town, profitably from a developer point of view. It is not going to happen until someone smell the profit and willing pump in the money.
Infact those new expressways are not going to bring business to the CBD, they are actually channeling business out of the CBD instead. Last time people used to stop at Jln Ah Fook to change money , rest and eat before moving on . Now people simply bypass such areas because of the new expressway. Do you want to make a detour to Jln Ah Fook for a cup of coffee and waste 15mins ? How about finding a place to park ?
With the increase in toll at woodland causeway and relocation of government house to Kota - iskandar , the wind is going to blow toward the Nusajaya area.

I would say Nusajaya is already happending and JB city is waiting for white knight to come to rescue. Why not put your money where the magnet is already in placed instead of hoping for something that might or might not happen ? Remember , investor hate uncertainty . By the way , properties prices in Nusajaya is not very big different right ?

Just my view , best rgds bros.

 

[Aisanbo]

Bro..i think u missing the coastal highway from bukit indah to causeway which is about 15km...

Oh yes, the coastal highway from woodlands link to Nusajaya is also smooth and only 15km.
My point is that the new tebrau area is as near to Singapore as the Nusajaya area...depending on whether you are coming in from tuas or woodlands. If you are tuas person, then Nusajaya is the only option. If woodlands, then new tebrau is an option....and the prices there now is more affordable than Nusajaya.

Of course, it is still a bet because nobody knows the effect of EDL and the new toll on the daily commuting time via woodlands. The MRt is also an unknown factor.