It is a 99 years leasehold land expiring 19th June 2110.
Yes, the Developer/Fuyuu Resources Sdn Bhd has secured approval from the Melaka State Authority to allow foreign purchasers to acquire the condominium with purchase price of more than RM500,000.00 per lot SUBJECT to application for the State Consent under Section 433B of the National Land Code 1965 to be submitted to the Melaka State Authority at the Purchaser’s own costs and expenses.
Yes, for any transfer to a foreigner, the foreign purchaser must apply for State Consent under Section 433B of the National Land Code 1965 at his own costs and expenses.
No, the purchase of the condominium is solely for owner occupation.
The monthly maintenance charges are approximately RM0.30 per square foot per month. The yearly quit rent, yearly assessment, yearly insurance and yearly sewerage charges are calculated at the total rate of approximately RM5.00 per square foot per year. *MBMB is the Municipal Council in Melaka.
Yes. Approved building plans have been obtained. The approved building plan with the endorsement is displayed in the Developer’s Sales Gallery at Ground Floor, Hatten Square, Jalan Merdeka, 75000 Bandar Hilir, Melaka, Malaysia.
There are 3 stages:-
- From Certificate of Completion and Compliance (“CCC”) to immediately prior to formation of Joint Management Body (“JMB”) – Developer will manage.
- From formation of JMB – JMB will manage.
- From issuance of strata title – Management Corporation (“MC”) will manage.
As at to-date, RHB Bank Berhad, United Overseas Bank (Malaysia) Bhd and HSBC Bank Malaysia Berhad are willing to finance between 70% to 80% margin of financing subject to Purchaser’s credibility and scoring profile (applicable to Malaysians).
Upon execution of SPA, the Purchaser shall pay the 1st 10% of the Deposit Sum.
The Balance of Purchase Price shall be paid in accordance with the Schedule of Payment as attached hereto and marked as “Appendix A”.
The Developer must apply for strata title subdivision within 12 months from the date of the Certificate of Completion and Compliance. However, issuance of strata titles is the prerogative of the relevant authorities.
The average buyer’s legal costs and disbursements can be divided into 5 major categories as follows:-
- SPA legal fees the legal fees for the preparation of the Sale and Purchase Agreement (“SPA”) and Deed of Mutual Covenants (“DMC”) will be solely borne by the Developer provided always that the SPA and DMC are being prepared by the Developer’s appointed panel solicitors and the Purchaser signs the documents at the said solicitors’ office.
- Stamping fees on SPA, DMC and legal disbursements To be borne by the Developer.
- Legal fees, premium and disbursements for application of State Consent Currently, estimated costs are RM5, 000.00, which are to be paid by the Purchaser, inclusive of legal fees and disbursements. The State Government of Melaka has proposed a payment of 2% based on the Purchase Price or RM5,000.00, whichever is the greater being payment for the premium to secure the State Consent, exclusive of legal fees and disbursements.
- Legal fees, stamp duties and disbursements for loan documentation To be borne by the Purchaser. Calculation of legal fees (based on the Purchase Price) 1st RM150,000 – 1% Next RM850,000 – 0.7% Next RM2.0 million – 0.6% Next RM2.0 million – 0.5% Next RM2.5 million – 0.4%.
- Stamp duty payable on Memorandum of Transfer, upon issuance of strata title To be borne by the Purchaser. Calculation of stamp duty (based on the valuation price or Purchase Price, whichever is higher) First RM100,000.00 – 1% Next RM400,000.00 – 2% Thereafter – 3%
The express condition as endorsed on the master title read as “Untuk bangunan perniagaan, hotel dan service apartment” (For commercial building, hotel and serviced apartment).The electricity charges will be based on commercial rate.
No it is not. The sinking fund is 10% of total Service Charge (Maintenance Fee).
Selected Quality Brand.