Symphony Lakeside Residence
The recent launch of the leasehold double-storey terraced Symphony Phase 3 Lakeside Residence @ Puchong by Glomac with min RM728k ( after 6 years from their last launch here) giving a sign that landed especially at this area with is highly sought after even with price tag by looking the ratio of number of people register for the ballot to available unit is almost 7 to 1.
There are totally 139 units available to the public but however a separate ballot for staff was conducted on a day before and seeing 50 units being “sapued” by the staff and left remaining 89 units on Friday ballot. Yes it is on normal weekday – Friday! and not the usual weekends Saturday or Sunday.
This means this ballot is really only for serious buyers where those salary earner has to take 1st half day leave and start the registration as early as 900am. Not to mentioned due to this area is well known for its notorious, to avoid caught in the traffic, there are some people reaching there earlier than that. Out of this 89 units, 54 units are for non bumi and 35 for bumi. So talking about chances…..
Looking at the number of available units for non bumi, no doubt there will be a lot of people ended up with disappointment and empty handed. The ballot started approximately 10am and ended around 1037am . So the whole suspense and thrill only lasted for 37 mins. At the end of the ballot, all non bumi taken and the bumi still available.
With the current subsales price of the YTL’s Lakeedge asking around slightly below RM1mil, this make Glomac’s Symphony looks such a good buy! Ofcourse, who does not want to have a piece of this. Although both projects are near to each other, but I can tell the different in class, execution and finishing.
According to one of the taiko here who went there on Saturday just to “see” around, at that time 28 units of bumi still available. Beside that, current phase 1 design is a bit old fashioned and rundown condition which does not give a very good impression to Lakeside. Phase 1 is having its own entrance and not sharing with other phases but it seems like Phase 2,3,4,5 will be sharing one common entrance. I am not sure how will be traffic like in the morning during peak hour?
There is also hearsay the next phase will be approx 10% up but this is all just speculation.
Anyway, it is still a good buy for the price and congratz for those who got it and for those with empty handed don’t be despair, there will always a better buy!
This launch also mentioned in the published article at The Star Online – Demand for landed property remains strong
good information. Please give updates on phase 3 launching date…
sorry, phase 4 i mean
Pictures credit to a puchong taikor NWY
The high bumi quota imposed on this Phase 3 is becoz both the earlier phase 1 and 2 have very limited bumi buyers. Glomac needs to achieve min 30% bumi quota for the entire development, so there is no chance for the conversion of bumi allocation to non bumi at the later stage.
This is a leasehold development, thus the transfer of title needs land office’s consent or developer’s consent while pending the issuance of individual titles. Checking with the sales team of Glomac, revealed that it would be very unlikely for the management to give consent for bumi allocated units to be transfered to non bumi upon VP, otherwise there is no way for them to achieve bumi quota.
The implication is that: for those bumi purchasers or Bumi company who want to invest and flip upon VP, it will have tough time to sell as the property can only be sold to Bumi purchasers. This will limit the potential of subsales market.
Glomac is kind enough to offer 7.5% staff discount + 7% bumi discount to eligible bumi staffs. Thus, based on 728K price tag, staffs price is from RM622k, > RM100k cheaper. Thus, who wanna flip immediately after VP need to hold for a while. More than half of the phase 2 and at least 20% of phase 3 were purchased by staffs.
Location wise, it is not as close to YTL’s Lakeedge as what we think. From Lakeedge, one need to drive for around 5 mins, passing by some old factories and then the run down phase 1 Lakeside before you can reach this phase 3 Lakeside entrance.
My observation is:
Phase 1 which was built 6 years ago, too run down, passed by the Phase 1, you can see the narrow streets between house are filled with double park and triple park cars and this Phase 1 is non guarded.
Phase 2 facade is too mellinieum year feel, the facade reminds me of the year 2000 where everyone fighting for Y2K computer bugs. Out of Date!!!
Phase 3, facade is acceptable, but the layout are disappointing. Glomac does not maximize the BU on the 22×75 ft land. If Sp Setia can build 2200 Sqft on a 20x70ft land, why Glomac can’t??? With 22×75 ft land size, minimum BU should be at least 2500sqft. Glomac has more to learn.
For me, YTL Lakedge is still few classes higher.