New Shop Office Project in Bukit Serdang. Designed to inspire success. A preferred address in a well established and mature township of Bukit Serdang. Modern contemporary design with spacious and practical floor layout. Ideal for F & B, showrooms, corporate offices and services. Excellent accessibility and well connected to major roads. Phase 1 has fully sold out, currently selling Phase 2 with the total of 47 units only.

Property Detail
Name: 32 Avenue Phase II
Address: Bukit Serdang Section 11, Seri Kembangan, Selangor, Malaysia
Completion Date: 2013
Type: 2 & 3 Storey Shop Office
Tenure: Freehold
No. of Units: 47
Land Area: 22′x 75′
Price: Start from RM1.53million

Description:
- Ample surface and basement carparks
- 3 main ingress/egress from the main road and adjacent industrial park
- Spacious Internal Layout to provide better flexibility
- 2, 3 and 3 1/2 storey to suit various business venture
- Good location, busy traffic flow, easy accessibility and well connected to major roads
- Mature Township of Bukit Serdang with mostly CHINESE population
- Modern Contemporary Design with HIGH floor height of 15′

32 Avenue 3 Storey Shop Office Floor Plan

32 Avenue 2 Storey Shop Office Floor Plan

Price Comparison
1. Bandar Baru Sri Petaling: Leasehold, 2 Storey, 24 x 80, RM1.9million
2. Zone 5, Bandar Sri Petaling: Leasehold, 3 Storey, 24 x 100, RM3.6million
3. Diamond Square, Serdang: Leasehold, 4 Storey, 24 x 70, RM3.2million

Location
1. Located in the Strategic Bukit Serdang
2. Superb conveniece to major towns & commercials areas
3. 20km from the city of Kuala Lumpur
4. Connected to Bukit Jalil Highway & KL-Seremban Highway
5. Excellent accessibility & easy mobility
6. Prime location in matured township with comprehensive amenities

Tunku Abdul Rahman College, often known as TARC or KTAR, is a public institution of higher learning in Malaysia. The 186 acres KL Main Campus is the largest college in the city of Kuala Lumpur. It consists of 22 lecture halls, 18 blocks for tutorial classes with/or administration offices, three blocks of workshops and one block for guest accommodation, a childcare centre, an examination building, a sport complex with roof-top tennis courts, a three-storey library and a 22,000 square feet (2,000 m2) college hall. It also offers laboratories, computer laboratories, Olympic-size swimming pool, two Gymnasiums, football field, basketball courts, tennis courts, volleyball court, badminton courts, and shuttle bus services.

New Condominium Near TAR College & LRT Station @ Kuala Lumpur
Property Detail
Type:2 Blocks of 15 Storey Condominium & 3 Storey of Commercial Retail Space
Numbers of Units: Condominium (412 Units), Retail Space (300,000sf)
Land Area: 3.2 Acre
Expected Completion Date: Mid of 2015
Expected Maintenance Fees: RM0.22psf
Tenure: Leasehold
Built Up: 806sf (3Room 2Bathroom), 925sf(3Room 2Bathroom), 1092sf(4Room 3Bathroom)
Price: RM320,000 & Above (Average RM350psf)

Facilities
1. Cafeteria
2. Jogging Track
3. Picnic Table
4. BBQ Area
5. Infinity Pool
6. Playground
7. Gym
8. Multi Purpose Hall
9. Community Hall
10. Library/Reading Room

Retail Management Body
Tentatively, the retail space will be manage by RCMC Group. The founder, Richard Chan was the former president of the Association for Shopping and High-Rise Complex Management (PPK) from 1987-2006. He is a favorable figure and company in maintaining and managing the retail space.

Anchor Tenant for Retail Space
NKC is established in 1953 and owns the oldest retail chain network in East Malaysia. NKC is a household name in East Malaysia for at least three generation. They will occupy 60,000sf of retail space and with a 15 years contract.

Amenities:
Education Institute
1. TAR College (15 Minutes Walk)
2. UTAR
3. UIAM (Universiti Islam Antarabangsa Malaysia)
4. Sri Utama (International)
5. Malaysia Institute of Art (MIA)

Shopping Centers
1. Festival Shopping Mall (Parkson)
2. Jaya Jusco Wangsa Maju
3. Carrefour Wangsa Maju
4. Giant Setiawangsa

Convenience Store
1. KFC
2. Pizza Hut
3. McDonalds

Note:
1. This project previously was shop office project and was abandoned in year 2005 due to previous directors having financial problem and the company was blacklist.
2. In Year 2009, the company has been taken over by new director from public listed company.
3. In year 2010, the project was revived however due to the local council DBKL restriction of factors such as (density/layout/sizes/pricing) the project couldn’t take off.
4. In Year 2012, the developer and the local council DBKL has came to agreement for the project.
5. Oxidation Pond beside the project is no longer function and will be covered up for future development.

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BUYING AT AUCTION:

The most important thing to remember is that under the Auction system, when you buy a property, there is no cooling off period as there is when you buy ‘for sale’. The Auction sale is legally binding on the day.

*** These guidelines should help you with understanding the Auction process ***

BEFOREHAND:
1. Do your Research

When you are looking in an area, whether buying ‘for sale’ or through an Auction, research the prices in that area for the type of property that you want.

Find out about the good and bad features of the area, and comparative prices to other areas.

Look at similar properties to the type that you are seeking.

2.Attend Local Auctions

It is valuable experience to attend as many local Auctions as you can to see how the Auction proceeds. Observe how people bid, and who is at the Auction. Work out people’s style of bidding. The same people may be bidding against you for your property in the near future.

3.Arrange your Finances

Ensure that you have your Finance in place prior to the Auction. Establish you bidding limit. Make sure you allow for all extra costs, example : legal, stamp duty, finance fees etc.

WHEN YOU HAVE DECIDED ON THE PROPERTY:

1. Register your Intent with the Agent

Advise the Real Estate Agent if you are interested in a property. They will advise you if the Vendor would consider sale prior to Auction, and whether any offers have been received prior to the Auction Day.

2.Establish your Bidding Limit

It is important that you set your own bidding limit. Decide what the property is worth to you based on what you can afford. To make sure you can afford a property work out the limit on your loan and add 3% to the interest rate. If you could still make the
payment then that is a very safe limit.

3.Set an Uneven Limit

Wherever possible, it pays to set an uneven limit, rather than stopping on a round number. For example, rather than stopping at 410,000, try going to 411,000. A small $500 bid could make the difference if the other bidder is close to their limit.

4.Check the Paperwork

If you are seriously interested in a property and intend to bid you should have your Solicitor inspect the Contract of Sale. It is a good idea to have a good read through all the paperwork related to the Auction beforehand.

Wherever possible, contact the Agent handling the sale and ask them to provide you with a copy of the documentation. This is normally possible in the week prior to Auction.

Read through all of the documents and always ask if you are unsure of anything. It is important to clarify details such as settlement terms, deposit and fixtures before the auction commences.

5.Inspections

Get building and pest inspections done before the auction. It is not possible to make an Auction purchase conditional on inspection results. Make sure that any reports or inspections have been carried out to your satisfaction before you attend the Auction.

6.Ask for Help

Many people find the Auction process daunting. Don’t be afraid to ask a friend, relative or Real Estate Agent to assist you with your bidding.

Many people ask someone else to bid on their behalf as they may be less inclined to bid emotionally and will not exceed a predetermined limit. Make certain that they have very clear instructions in writing on what they can and can’t do on your behalf – remember, there is no cooling off period with an Auction.

1.Presentation is Important

If you look like an affluent, confident property buyer, this will help convince your competition that you won’t stop until the property is yours.

Remember that it isn’t always the person with the most money that wins at auction. It is the person who convinces everyone else to stop bidding.

2.Check the Contract of Sale again

On the Auction Day you should always check that your copy of the Contract of Sale is exactly the same as the original Auction Contract and that there have been no late changes.

3.Bidding

Remember how an Auction looks from the Auctioneer’s perspective. They are often looking at a large number of people who are invariably turning around, whispering etc.

If you are standing at the back of this scene, or hidden in the shade of a tree, the Auctioneer may well miss your bid, particularly when you are bidding for the first time. Stand in clear sight of the Auctioneer and make your first bid obvious to them.

Make sure the Auctioneer understands what you are doing. Bid early, clearly and confidently, and avoid unusual sign language that may be misunderstood.

4.Keep Control of your Bidding

If the bidding is increasing in larger denominations than you are comfortable with, consider offering a lower denomination as your bid. The Auctioneer does have the right to refuse it, but there is absolutely no harm in trying.

It is important not to be drawn into a bidding war on a property you want. Emotion can lead to you paying more than you can afford and there is no cooling off period with an Auction.

5.Making a Deposit

When the property is sold at the Auction you are required to sign the Contract of Sale and pay a deposit of usually 10% or 5% on the spot. This can be paid by Personal or Bank Draft or subject to prior approval with the Agent by Deposit Guarantee.

6.Don’t be upset, if you lose the bid:

The streets are full of them and there are plenty of opportunities or auctions out there
Don’t forget to claim back the 10% or 5% deposit that you have submitted

1. WHO MAY BID
- Intending Purchaser who possess a Bank Draft/Banker’s Cheque be equal to 5% or 10% (whichever applicable) of the Reserve Price is qualified to become a bidder.
- Qualified bidder may delegate another to act as an agent or representative in his behalf. The delegate is required to submit a Letter of Authority and NRIC card photocopy of the intending purchaser .

2. WHAT TO PRODUCE AT THE AUCTION.
- Bring along the NRIC card to qualify to bid and present it for identification and registration.
- Important to submit Bank Draft/Banker’s Cheque amounting 5% or 10% (whichever applicable) of the Reserve Price.
- Do bring extra fund as Additional Deposit to subsidize if there is increment on the Reserve Price.
- Specify your details required in the Bidder’s Registration Form.

3. WHAT TO NOTE AT THE AUCTION.
- Always check the specific amount requested and the Bank Drafts/Banker’s Cheque are correctly payable.
- Certainly do not bring personal or company cheques as Auction deposits.
- To be present earlier to avoid disappointment.
- It is important to listen to the Auction proceeding very carefully to avoid unawareness.
- Observe the details provided are correct in the Contract of Sale before endorsement.
- Necessary to switch off or vibrate all your cell phones to avoid interruption during auction.

4. NECESSARY DOCUMENTS FOR BIDDING.
For an individual bidder:-
- a photocopy of his / her NRIC card (both sides)
- correspondence address
- telephone contact no.

For a Corporation:-
- a certified true copy of the Company’s Memorandum and Articles of Association.
- Form 24 and 49
- Board of Directors’ Resolution

For Agent/ Representative
- Letter of Authority from the Intending Purchaser
- a photocopy of the NRIC card (both sides)

5. HOMEWORK TO DO BEFORE ATTENDANCE AT AUCTION.
- Obtain the Proclamation, Conditions and Terms of Sale from the Auctioneer.
- Make necessary enquiries and confirm essential documents to be furnish for participation.
- Final check out with Auctioneer before turning up for auction.

Click Here for Upcoming Malaysia Property Auction

Chapter 8: Co-Proprietorship

Co-Proprietorship = 2 or more owners owning a piece of land together under a single title.

Co-Proprietorship allows 2 or more owners who has interest in the land to have their name endorse in the land title and to protect each owner interest.

Example:
A) 10acres with 2 owners.
If owner A wants to charge his portion which is 5 acres to the bank for a sum of money, he cannot do so without the consent of owner B. Once the land is charge, both owner A and B has to serve interest. To have co-proprietorship is to somehow prevent the other owner(s) from selling, charging or JV without the others consent and have all the interest by himself.

B) 10acres with 10 owners,
If owner no.1-9 wants to JV with a developer to developer the land into shoplots. The terms given by the developer is very attractive. But owner no.10 does not seems to be interested with the JV proposal and rejects the whole idea, therefore the whole JV proposal would be scrap off due to owner no.10. There is no such thing as majority vote in co-proprietorship. In order to prevent such issue from happening, all the 10 owners have to sign a Power of Attorney letter to give the Power to someone they trust (it can be one of the owners or someone else) to execute the best option on behalf of them. So if all the owners sign a PA to owner no.1, if owners no.1 thinks that the JV proposal is the best option for all the owners, the proposal would still go on even if some owner disagree on the proposal.

Owning the land using co-proprietorship is good in general. But a PA (semi or full power PA) must be sign to prevent any dispute arise in the future.

Author: Edyek

Disclaimer: The article above is solely for reference purpose and any legal issue please consult a lawyer for proper legal advices.