Puteri Harbour Community

[SPH07]

Hi everyone,

Does anyone know the standard lawyer fees for Loan Agreement?
I'm assuming:

Loan Legal Fees: 1% for 1st $150K, plus 0.7% for next $850K. Total amount is subject to 65% scale if loan amt is >$500K.
For e.g. for RM$1MM Loan = ($1500 + $5950) * 65% = $4,842.50

Loan Stamp Fees: 0.5% of loan amount

Are these the estimated amounts you paid for the loan agreement signing?

 

[myPuteri]

Hi everyone,

Does anyone know the standard lawyer fees for Loan Agreement?
I'm assuming:

Loan Legal Fees: 1% for 1st $150K, plus 0.7% for next $850K. Total amount is subject to 65% scale if loan amt is >$500K.
For e.g. for RM$1MM Loan = ($1500 + $5950) * 65% = $4,842.50

Loan Stamp Fees: 0.5% of loan amount

Are these the estimated amounts you paid for the loan agreement signing?

Yes! it is estimated around that amount plus some other out of pocket expenses like printing etc...

 

[Dpow7]

Hi guys , ps do add me in yr list .
Myself and bro in law just got hold of 2 units from some buyers who recently gave up the last 2 units becos of loans issues. Great to know all the buddy's around.
I was there last week and I think the second floor is already been build up.
I suspect the build up could be ready as early as 2013.
Hope to see you guys soon.

 

[naved]

congrats!! where did you buy the unit..@ Imperia Puteri Harbour..if you did buy there you were very lucky..

 

[IskandarRocks]

Hi All,
I read with keen interest to invest into a small unit in SPH or Imperia, please let me know if there is any more unit for sale at [email protected].
Thank you.

Imperia still has a few 1 bedroom and duplex studios left. The sales lady keeps sending me SMS on various specials they offer. Last one I heard was interest absorption scheme or cash rebate on selected units. Not sure if these are still available. You may want to check with them directly.

Be careful though, I noticed that they raise the price before coming up with these specials.

Btw, in case you are interested, Encorp Marina still has a few Marina Facing units left. However, prices are high and the developer is relatively unknown.

 

[naved]

i dont think Imperia has one bed room condo on sale as they were sold out long before and no one wants to sell..anyways i have 2 units one bed @ imperia can let go of one @ MR.750,000/= on 8th flr. if you are interesated email me @ [email protected].....

 

[Investor]

Btw, in case you are interested, Encorp Marina still has a few Marina Facing units left. However, prices are high and the developer is relatively unknown.

Hi IR,
You mean Encorp Marina is already launched? How's the take up rate?

 

[Investor]

i dont think Imperia has one bed room condo on sale as they were sold out long before and no one wants to sell..anyways i have 2 units one bed @ imperia can let go of one @ MR.750,000/= on 8th flr. if you are interesated email me @ [email protected].....

Hi is it facing Marina?

 

[IskandarRocks]

i dont think Imperia has one bed room condo on sale as they were sold out long before and no one wants to sell..anyways i have 2 units one bed @ imperia can let go of one @ MR.750,000/= on 8th flr. if you are interesated email me @ [email protected].....

You are right. I meant 2 bedroom. Sorry for the miscommunication.

BTW, I heard that in Malaysia, one cannot sell before completion. Correct me if I am wrong again. Or is there a way around?

 

[IskandarRocks]

Hi IR,
You mean Encorp Marina is already launched? How's the take up rate?

Yes, they launched about a month back, after the pre-booking last year. Take up rate is very good, almost sold out, for Marina facing Studios (600K+) and 1 bedders (950K+). Very poor for Marina facing 3 bedders (1.6M+) and non-marina facing 2 bedders.

 

[IskandarRocks]

Hi everyone,

Does anyone know the standard lawyer fees for Loan Agreement?
I'm assuming:

Loan Legal Fees: 1% for 1st $150K, plus 0.7% for next $850K. Total amount is subject to 65% scale if loan amt is >$500K.
For e.g. for RM$1MM Loan = ($1500 + $5950) * 65% = $4,842.50

Loan Stamp Fees: 0.5% of loan amount

Are these the estimated amounts you paid for the loan agreement signing?

Lawyers typically provide 30-40% discount on the legal fee only. Your total, loan stamping + legal fee on loan stamping only should be around 1% of loan.

 

[Investor]

Yes, they launched about a month back, after the pre-booking last year. Take up rate is very good, almost sold out, for Marina facing Studios (600K+) and 1 bedders (950K+). Very poor for Marina facing 3 bedders (1.6M+) and non-marina facing 2 bedders.

That's great! Are the buyers mostly Singaporeans like the case of Somerset Puteri Harbour?

 

[Investor]

Yes, they launched about a month back, after the pre-booking last year. Take up rate is very good, almost sold out, for Marina facing Studios (600K+) and 1 bedders (950K+). Very poor for Marina facing 3 bedders (1.6M+) and non-marina facing 2 bedders.

Oh yah, any idea what's their price in terms of psf?

 

[IskandarRocks]

Oh yah, any idea what's their price in terms of psf?

Hi Investor,

Around 1000 psf.

I think the buyers are mostly Singaporeans because, to my knowledge, they have had launch events mainly in Singapore. I am not sure though and you may want to check with one of the HSR agents marketing the project.

BTW, I asked why is the take up rate so slow, particularly for the larger units. His answer was that most visitors to the marketing events in Singapore are still skeptical about the actual completion of Legoland, Educity, Marlborough College, Pinewood, so on. :-)

While there is some truth to the above, I would think that the relative obscurity of the developer, Encorp, as compared with the likes of UEM and Somerset, combined with the high asking price of around RM 1000 is hurting them.

Cheers,

IR

 

[SPH07]

Yes! it is estimated around that amount plus some other out of pocket expenses like printing etc...

Thanks myPuteri

Lawyers typically provide 30-40% discount on the legal fee only. Your total, loan stamping + legal fee on loan stamping only should be around 1% of loan.

Thanks IR

I had to pay about RM2K more for misc fees by the lawyer appointed by developer/bank.
They are for filing power of attorney, land search, bankruptcy search, traveling expense (to Spore), etc.
I wonder if this is normal, but I accepted it as part of the investment expense.

 

[Investor]

Hi Investor,

Around 1000 psf.

I think the buyers are mostly Singaporeans because, to my knowledge, they have had launch events mainly in Singapore. I am not sure though and you may want to check with one of the HSR agents marketing the project.

BTW, I asked why is the take up rate so slow, particularly for the larger units. His answer was that most visitors to the marketing events in Singapore are still skeptical about the actual completion of Legoland, Educity, Marlborough College, Pinewood, so on. :-)

While there is some truth to the above, I would think that the relative obscurity of the developer, Encorp, as compared with the likes of UEM and Somerset, combined with the high asking price of around RM 1000 is hurting them.

Cheers,

IR

Thanks a million for your info IR. Really appreciate it

 

[naved]

My Condo is facing the swimming pool/shagrila hotel...

 

[Dpow7]

Just saw this evening news at u channel abt the launch date of legoland in sept 2012, was surprise that before the theme park is even ready 35000 ppl has already book tickets and 30% was Singaporean booking.
Some weeks ago , I was scouting at somerset puteri harbor and did confirm the 4 uni has already been build.
All of Johore government body has already operating their daily operation since 4 yrs ago.

Hopefully the sultan palace will be build soon that will very quickly add on the value to the area.

With the king around things move fasterrrrrrrr

 

[naved]

Indeed!! I see JB/ Iskandar the hub of Malaysia surpassing KL within the next few years.. due to close its proximety to Singapore and Indonesia.... many business establishments are being established. I visit JB from Time to Time, I was plesently surprised to note the Government/ foreign investors are heavely investing in this part of the belt..The government blocks are already functioning..The Puteri Harbour area is filled with foreign tourists, their Sale boats parked enjoying thier stay due to the reasonable parking/berths..The Shangrilla Hotel will also be a land mark for The Puteri Harbour making it higely sort for living..I see the price of property will be at par with Singapore within the nest few years!!!

 

[DREAMorACTION]

Hi, your development won award. Just to share. Happy for u

UEM Land, Naza, Opus lauded at the Asia-Pacific Property Awards

May 3, 2012 - HomeGuru.com.my


UEM Land Holdings Bhd (pictured), Naza TTDI Sdn Bhd and Opus Group Bhd were among the companies honoured for their excellent projects during the 2012 Asia-Pacific Property Awards, which was held at Kuala Lumpur last week.

East Ledang project - UEM Land's gated garden community located at Nusajaya - was awarded with the Best Architecture Multiple Residence in the Asia-Pacific region. Aside from that, the developer also bagged three national-level commendations.

These includes Highly Commended award in mixed-use development category for the Puteri Harbour in Nusajaya as well as the high-rise architecture and commercial high-rise development for the Angkasa Raya in Kuala Lumpur.

Meanwhile, Naza TTDI clinched five awards, including the two Five Star' awards in the Best Public Service Architecture and Best Public Service Development categories for its mosque in Section 13, Shah Alam.

The developer also clinched the Highly Commended' award for Developer Website for its online portal; a five star award in the Best Office Architecture, Malaysia category for its Naza Tower at Platinum Park; and another five star award in the Best Commercial High-rise Development Malaysia for the third and fourth phase of Platinum Park project.

On the other hand, Opus International Consultants Ltd, a New Zealand-listed consultancy firm and the international unit of Opus, has bagged Best Public Service Architecture Asia Pacific award.

In addition to this, the company has also been acknowledged for its Wilson Special Needs School in Auckland, New Zealand and bagged the five star award in the Public Service Architecture New Zealand.