Monthly Archives: January 2014

Development in Klang Valley’s southern growth corridor

The development will feature a clubhouse and swimming pool, among other amenities.

Home buyers looking for resort themed condo-styled apartment in the Klang Valley now have another option to consider.

Bangi Heights Development Sdn Bhd, a subsidiary of United Malayan Land Bhd, says its Putra 1 project, spread over an 8.9 acres will be launched soon.

The Putra 1 project is located in the heart of Bandar Seri Putra, already an established township in the Klang Valley’s southern growth corridor close to Kuala Lumpur, Cyberjaya and Putrajaya.

The developer says the project with 505 units offers seven distinct designs to choose from with a built-up areas ranging from 854sq ft to 1,224sq ft.

Prices for units start from RM321,000 onwards and the developer says it expects to see interest from young couples with families, professionals, government servants, university lecturers and executives working in the nearby industrial areas of Nilai and Bangi.

The developer says it hopes to provide a new experience in low-, medium- and high-rise living set in a green sanctuary equipped with the good number of amenities and facilities, including a grand 3-acre courtyard where residents can interact with each other and enjoy the greenery within the area.

Putra 1 comes with many condo-styled facilities such as multi-tier security system, swimming and wading pools, gymnasium, playgrounds, landscaped garden, sauna, badminton and basketball courts, reflexology pond, alfresco dining and BBQ areas, nursery and multi-purpose hall.

The surrounding Bandar Seri Putra township contributes to the convenience, comfort and peace of mind of Putra 1 residents because of the amenities that are already there. These include surau, schools, police station, post office, bank, eateries, shops, petrol kiosk, clinics, mini markets and green open space for recreation.

In term of accessibility, Putra 1 is strategically located with easy and direct links from the KL-Seremban Highway via the dedicated Putra Mahkota Interchange. It is only 37km to the Kuala Lumpur City Centre, 12km to Bandar Baru Bangi, 30km to Putrajaya, 35km to KLIA/LCCT and about 5km to Nilai.

The developer says purchasers seeking value for their money will find Putra 1 a exclusive place to live, work and rest, with the courtyard and its surrounding landscaped parks being a gateway to a soothing escape from the rigours of modern life.

Why invest in Malaysia Real Estate?

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Direct Foreign Ownership with No Capital Controls 

Non-residents are free to purchase residential and commercial properties in Malaysia. All purchasers are subject to restrictions on Malay Reserve Lands and properties allocated for Bumiputras. There is a minimum investment value of RM500,000 (approx. USD $150,000) for property purchase according to the jurisdiction of different states in Malaysia.

 

Across both residential and commercial sectors, an increasing number of existing and new developments are CONQUAS compliant and fast adopting the Green Building Index (GBI) certification.

 

Transparent Torrens Land Administration System 

Malaysian land law is based on the Australian Torrens System. The rights of foreign investors to own and possess property and to seek legal redress in the courts are guaranteed under these laws.

 

Real Estate Investor-friendly Tax Environment

From 1 January 2010, the effective tax rate on disposal of real property is 5%, subject to the provisions of the Real Property Gains Tax Act 1976. No tax is imposed on profits gained if the property is disposed of after 5 years of ownership. There is no withholding tax on property disposal and no inheritance tax. Investors may have to pay tax on earnings depending on their income tax band.

 

Repatriation of Income is Allowed 

Bank Negara Malaysia does not impose any restriction on the repatriation of profits, rental or proceeds from divestment of investments in Malaysia by a non-resident.