CRYSTAL Hill Properties Sdn Bhd has seen brisk sale of its Taman Tasik Indah project in Jalan Ipoh with 40% of 310 units of upmarket three-storey terrace houses snapped up during the pre-launch sale.
Its company director Tan Chew Peng said the project would be launched on Saturday (Jan 11) and the company by then expect another 30% to 40% to be sold.
The project has attracted many business people in Jalan Ipoh to own a terrace house near their workplace, he said at a media briefing in Kuala Lumpur.
He added that for the past few years, not many terrace houses have been developed in the vicinity and the business operators had to turn to other places such as Gombak, Selayang and Petaling Jaya to buy terrace houses.
Limited supply of terrace houses in the bustling Jalan Ipoh area at present and most probably in the future had thus created a strong demand for such properties especially from the business community.
Among the early birds to buy our houses, were seven brothers and sisters, whom each bought a house next to one another, he added.
Taman Tasik Indah sprawls on a 20-acre leasehold land, previously a fishpond, parallel to Jalan Ipoh. It is accessible via Jalan Ipoh and Jalan Kuching.
Tan said although many house buyers had reservations were taken aback by the leasehold status, a recent analysis carried out by Y.C Mok & Co Property Research Services on the value of properties on leasehold land around in Kuala Lumpur, including in Taman Wahyu, Bandar Utama, Taman Tun Dr Ismail, Taman OUG and Taman Midah, had shown that there was little difference in the price increase trend between leasehold and freehold properties.
The perceived disadvantage associated with leasehold status is not significant and appears not to affect the value appreciation potential of the leasehold properties studied, he said citing one of the research findings.
The neighbourhood of Taman Tasik Indah include Taman Mastiara, Taman Batu Permai, Taman Wahyu and the Makro hypermarket.
Each unit, which boast 3,000 sq ft of build-up area, is sold from RM415,000 for intermediate unit to RM455,000 for end unit and RM618,000 for a corner unit.
The house, which measures 22ft by 80ft, has among other features, six bedrooms and five bathrooms, and comes along with a powder room for guest and additional storage room.
The master bedroom, which is located on the first floor together with the family room, comes along with closet, long bath and shower. The house has both a wet and dry kitchen.
Taman Tasik Indah will be secured with 10-foot high concrete and steel grilles fence with single main entrance, for security as well as exclusivity purposes.
A lush greenery landscaping is also in the pipeline.
Tan said each house is equipped with a 600-gallon water tank and booster pump although the area did not face water problem.
The price per square foot is only RM138, which is among the lowest compared to properties in the vicinity including at Taman Mastiara, Taman Wahyu, Aman Suria Damansara and Desa Park City in Kepong, he said.
Total sales value of the project, which is due for completion in May 2004, is estimated at about RM120mil, Tan added.
Tan said he was confident that the property would fetch a higher market and rental value due to its location.
Dewan Bandaraya Kuala Lumpur had recently completed a public recreational park known as Metropolitan Park which houses so-called x-treme games such as skateboarding, cycling and mountain climbing facilities. There is also a smart school nearby, he said.
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