Finally, there is going to be a "preview" launch this 23rd March weekend of Mayland Dorsett. There are two 23-storey towers in this project, connected by a facilities deck on the 4th floor. Tower 1 has the pool and most of the hotel facilities and it is also the higher density of the 2. There are 82 units per floor in Tower 1 compared with 35 units in Tower 2. The ratio of units/lifts for Tower 1 is much higher than Tower 2 - 12 lifts serve Tower 1 while 6 units serve Tower 2.
It's the same layout for every floor from 5th to the 20th. The biggest and most expensive units, which are the duplex are on the 21st floor. There are only 36 units of duplexes (out of a total 2000 units), priced around RM800k for these 920sf units.
This weekend, only Tower 2 will be launched - almost 600 units in total. Majority of these consists of 590sf one-bedroom units facing the lake and 410sf studio units facing Subang Jaya. There appears to be a premium for the lake-facing units - from RM820psf vs RM750psf for the Subang Jaya view. So, the cheapest unit is priced from just over RM310k and with the preview discount of around 11%, the cheapest unit starts from only RM275k.
In my opinion, if speculation is the main purpose, the bet would be on these 410sf units. Why? Because there are only 200 of these. The other 400-odd 410sf units in Tower 1 are facing the Subang Jaya Medical Center which is not so desirable. So, the 410sf units in Tower 2 are a good buy - especially units 33 and 34. These 2 units are in the minority wing, there are only 9 doors sharing the corridor compared with 29 doors on the other wing.
However, nothing beats the corner Type B1 which is 500sf. Although these units occupy the "majority wing", there are only a total of 17 such corner units in the entire project of 2000 apartments. The other corner, the Type B2 is not so desirable due to the unit layout. The type-B1 has a bedroom and the bathroom can be accessed from both the bedroom and the living room. Both bedrooms and living room has large windows to let in natural light. But the type B2 is not designed in the same way. There is only a partition for the sleeping area with no windows although this is a corner unit. The bathroom is only accessible from the partitioned area - quite a stupid design and more expensive as well at over RM400k per pop compared with RM370k for the B1.
If the lake is something you like, then go for the Type C2, 590sf - but the only units worth buying are the corner. This is due to the internal design which has a living room with no windows, separated from the bedroom by the bathroom. If you get the corner units, the living room has windows.
As with all speculative projects, one has to get in there fast and early. The total number of corner units are 68. The total number of duplexes are 36. And the total number of desirable small units in the "minority wing" is 34. These will be grabbed up 1st and these are the ones who will appreciate most even if the others have to depreciate. They will be easier to flip or rent when in competition with others.
31 comments:
wow... 2000 units for this project?
yup...typical mayland..
I am kind of afraid of Mayland already. My Regalia project still stuck with the VP dates moving from Nov/Dec 2011 to Mar 2012, and the flyover is still stuck in the air.
One of the SA told me that Gymnasium equipment had arrived. Expected in 6 months time. However, I am not sure 6 months start from when.. Good news is that I saw works on flyover is been undertaken while passing the site today.
sinleong,
someone in lowyat linked your post.. as if you are selling them in lowyat..
http://forum.lowyat.net/topic/2244164/+20
thanks... but that's ok as long as they're not copying it and pasting somewhere else
Is this DIBS ? with the discount i guess there is no down payment needed?
DIBS for 48 months. Was told that the price was reduced during SA meeting this morning. The quantums not sure.
DIBS for 48 months not good.... considering that mayland usually delay and that most of the interests are paid towards the end of the construction period.
it looks like the prices has gone up rather than down. the unit i booked was RM420k verbal quote before it was finalized and then when it was closed this morning, i found out it was RM422k...
hi sinleong i m from spore and i think by capitalizing on lower lump sum like what spore developers did is fascinating if saleable because whereas we have space constraint msia is aplenty so why should msian also fall for the same trap i dont understand.
sinleong,
you booked bigger size? facing lake?
nope... too expensive.
corner units facing the other way for me
Hi Sinleong,
Despite all the negative points you still got yourself one? But I still cant buy the idea apartment without car park.
I heard Desa Parkcity is lauching their Westside 2 condo pretty soon. Would like listen to your opinion on DPC? Price, appretiation, location. etc, etc...
Thanks!
cb
as they say... there is no perfect property...
all new DPC condos will be about RM1million and up... for that price, why dont u consider Uptown Residence? No toll, freehold also and in the thick of commercial area
if there are no carpark..
den where r the owners going to park their cars ? along the street ? dat is like to trip to pasar malam .. "find your own parking" and "your parking is everywhere FOC!"
scary :(
well..u'll have to rent the car park or pay per entry. there are over 2000 car parks in the building, you have to pay extra...
Good. like Hong Kong style :)
hi sin leong, is this a good buy,? cuz I've just paid the booking this morning on 18 floor west point. still new to property n this is my first attempt in property investment lol. after reading some negative remarks on this project I really wonder if I shud really purchase it. please advice thank you
Hi Sin Leong, I am also new to property and this is my first time buying one. I paid booking today then read so many negative remarks about this project on one of the forum. Your advice is much appreciated on whether I should go ahead to purchase the unit. Mine is Tower 1 14th floor 410 sq ft unit. I am buying it for own stay not for renting out. Thanks a million.
hi, so many people asked me whether this is a good buy or not. i think i have clearly stated in this blog all the pros and cons. i can't really advice anyone to buy or pull out after buying. this decision only the buyer can make. i agree there are a lot of negative remarks and i agree with most of these remarks. yet, i have invested here for my very own reasons. so, whatever is the reason, only you can decide for yourself... i think i've gathered enough info here for everyone to make an informed decision
Sin Leong, Thanks so much.
Dear sinleong, would like to hear your personal comments on tower C, floor 17-20 unit 44, 540 sf, price RM430k net. Facing facility view..No car park. For future renting purpose for retirement. Am 38 years working lady. Happy to read your comments. tqvm ya.
i would say, hold your horses.... i've heard from sources in MPSJ, the council as well as within the developer's office there are problems. MPSJ felt that the developer has misled them into approving the project which they thought would be additional rooms extension of the grand dorsett hotel. they claimed they were not aware that the developer would sell them as serviced apartments. in fact, the developer was marketing them as such as well as the local colleges nearby as luxury students accommodation targeting the high end market. therefore, the facilities and infra such as car parks and access roads are insufficient to meet this density. if it was a hotel it's different because majority of hotel guests dont drive and occupancy is seldom > 50% with such density.
therefore, MPSJ has withdrawn the building permission which means Mayland cannot build. So Mayland is in a dilemma. If they fight the case and continue with the project for sure there will be LAD. if they dont continue, they will have to refund all purchasers. In fact, they've already started to demolish the car park.
In most cases, developers would pay their way out of this mess. I mean "pay the authorities". OK I am defaming someone... but I have the witnesses to back this up. But the Selangor govt is not BN. So, Mayland has decided to wait for the next GE which will happen soon and bet on the present state govt to revert to BN.... now it's wait and see...
Dear Sinleong, thank you very very much arr.. at 1.05am still writing comments to help other. Thanks.. yes, now it's wait and see... :) 38lady
Hi Sin leong,
Not sure will you read this post but I purchased one unit in June and signed the SPA in August. Recently got news that Mayland got sued by MPSJ for violation of permit. I called the lawyer firm appointed by ML who handled my SPA and they told me all legal documents are still going ahead and if there is any problem, ML will bear all the cost. This is my first property and I intend to live there 4 years from now. If this case gets drag or delayed it will affect my future plans. Can I back out at this point in time when my SPA is already stamped? Not all of us has the time to wait and see.
i can understand your predicament. you may actually back out but i think you have to pay the penalty which is to have your booking fee forfeited. the balance of the 10% downpayment is actually rebated so you will only lose your RM5k... i think. however, Mayland is in a predicament too. if the project is cancelled, they have to refund all the buyers - they may even have to refund double the booking fee as penalty. and if the project goes ahead, with the court case against MPSJ, definitely the project will not be completed on time. in fact, court cases take several years. so, even if the project goes ahead, Mayland will have to pay LAD. therefore, i think you might be able to negotiate with Mayland to refund your RM5k to save everyone the trouble.
Dear SL your understanding of the property scene in KL is amazing. you must be putting in a lot of hours everyday including weekends to study and analyse the market. I mean how many hours a day do you allocate for property analysis ? do you have a network of friends and like-minded people whom you frequently meet up to exchange ideas and market situation.
I have the desire to be a property investor (not speculator) like you but finding it hard to start.
why don't you organise a class or seminar and we will gladly attend. of course you should charge us for it. i think most of your readers including me will be glad to pay and learn from you.
Hi Sin Leong, thanks for the quick reply. I guess now I have to decide whether to stay and claim LAD from ML if the project is delayed or back out and stand to loose my deposit. Also I think there will be a penalty I need to pay to the bank for cancelling my loan right? Am I even allow to cancel my loan?
the best option is to wait and let the developer take the initiative. a lot of people are caught with the loan, paid the legal fees etc. the developer should be held liable for this
the best option is to wait and let the developer take the initiative. a lot of people are caught with the loan, paid the legal fees etc. the developer should be held liable for this
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