When it comes to lower cost launches, its almost guarantee that units will be going out the door as fast as they come in. Setia experienced them with their offering of Jati, Intan, Baiduri and the recent similar launches of ten of thousand of similar homes. As these homes are not income tested (unlike affortable housing under Pr1ma), the only deterrent is perhaps the bumi quota vs non bumi quota.
Sunsuria (the developer behind 7th Avenue retail shops next to Setia City Conventional Centre) has just recently launched this new offering, in complianced and joint venture with PKNS which has a piece of sizable land within Setia Alam precinct.
The location of Suria Rafflesia is commendable as it is sit on higher ground, next to PKNS commercial shop lots (west side) and facing yet another Setia’s Taipan shoplots (north side), and was told will be surrounded by Sunsuria’s own bungalow offering on its east side, other PKNS offering on the south. Setia’s prime obsession, Ecopark is just a street away on its east side.
With only two pieces of land allocated to such developments (2 blocks each), Sunsuria has launched its 1st 2 blocks of apartments called Rafflesia. The Ixora blocks will be launched in 2 months time.
For this Rafflesia, its on 2 10th storey blocks and consists of 360 units. All units are same size, i,e, 700sq 3bedroom units. All units are selling at same price (yes, no price differences between floors or corner/intermediate units). Its strictly 1st comes 1st get the best units and facing. Its priced at Rm233,600 for bumi quota and Rm242,000 for non bumi quota. Maintenance is 25sen inclusive of sinking fund. Within the development, you get a host of facilities such as pool, badminton and futsal courts, children playground, multi-purpose hall and others. What surprising is that with the size of 700sq, each unit entitled to 2 open car park lots, as compared to Setia’s offering of 1 car park lot (was told).
The non bumi quota (around 100+ units) was told never released to public. They were all pre-sold to staff members and associates prior to official launch. As of last weekend, only handful of bumi quota units available (around 20+ units)…and mostly on the lowest floors. Yes, there wasn’t any balloting exercise either. Strictly sell on 1st come 1st serve basis.
Moving forward, there is Ixora to be launched in two months time. Ixora is similar built-up but with 2 storeys higher (12th storey)…same bumi/non bumi quota (70/30) applied. Expected to be around Rm20,000 more expensive than rafflesia.
By looking strictly at precinct 12 and the entire PKNS development, the mere low density of lower cost offering makes this Suria Apartments a good buy versus Setia’s offering. and its sandwiched by commercial and bungalow houses give these apartments an uplifting feel as well. However, one needs to be mindful that Setia will have few thousands of similar homes available ahead of Suria Apartments, and they are generally larger units as well (900sq) althought these apartments are all clustered together and look really mass, and Setia sells them cheaper as well (from 180k up). So it all boiled down to the demand at the time of VP…..but expect a bloodbath at initial years for tenancy and subsales.
Cruising along to the site of Suria Apartments, we encountered this rather modern looking zero lot bungalow homes joint developed by PKNS and Mentari called Casa Sutra. Its sit within the township of Alam Nusatara, just before the site of Suria Apartments. Interested parties please refer info below.