Residensi Pandanmas 2 consist of 3 blocks of apartments, over 8.71 acres of leasehold land in Kampung Pandan.
Continue Reading ⋅ 19 February 2022
Green Garden is a high density development located on a slope along Jalan Paya Terubong, Penang. It is a low-cost apartment complex that comprises 2 blocks. This Green Garden should not be confused with the Green Garden neighbourhood in Green Lane.
The property doesn’t appear too rundown in age, with both blocks appearing to be well-kept. Despite it being an apartment, the development comes with several facilities such as a swimming pool, a children’s playground, and multi-level covered parking lots.
Paya Terubong is a suburb of George Town. It is about 7km southwest of Penang city centre, and it is one of the more densely populated areas on Penang Island. Paya Terubong Road was previously just a hill path. However, many residential high-rise developments have called the area home since the 1980s, and the hill slopes were cleared in the process. To the north of Paya Terubong is the established and vast township of Air Itam. To its south is the fast-growing Relau.
Address: Jalan Paya Terubong, Paya Terubong, 11500 Penang
Developer: N/A
Property Type: Apartment
Land Title: Residential
No. of Blocks: 2
No. of Storeys: 26
Total Units: N/A
Tenure: Freehold
Year of Completion: N/A
Built-up Area: 550 sq ft
Facilities:
- Swimming pool
- Covered parking
- Restaurants
- Convenience stores
- Children’s playground
- 24-hour security
Launch Price: RM50,000
Project Details
The freehold units at Green Garden are snug, as the built-up sizes are 550 sq ft. The layout is similar for all units, which features 2 bedrooms and 2 bathrooms. For properties at such sizes, they usually come with only 1 bathroom. So having 2 bathrooms can be considered a major plus point for the project.
There are 2 blocks, with 26 storeys. Below the units are 7 storeys of parking bays. Among the facilities at Green Garden apartment are a swimming pool, covered parking, restaurants, convenience stores, children’s playground and 24-hour security.
Green Garden at a glance:
- 2 blocks
- 26 storeys
- 1 standard unit size
- 550 sq ft
- 2 bedrooms
- 2 bathrooms
Today, Paya Terubong is a densely populated neighbourhood. With its central location and good connectivity to various parts of the island, some might want to just brave the traffic that comes it. Green Garden is approximately a 25-minute drive to George Town on a good day.
Paya Terubong is not deemed as an affluent area, and therefore, investors might feel that rental demand may not be as high as those in more prime area.
Location
Apart from Jalan Paya Terubong, there are several major roads within close proximity of Green Garden. These include Thean Tek Highway, and Jalan Air Itam, which leads to other parts of the city and island.
The first Penang Bridge is also just over 15 minutes away through Jalan Paya Terubong, while George Town is about 25 minutes away in the opposite direction via Jalan Air Itam. There are also buses and taxis that frequent the area. The bus stop in front of Green Garden Apartment is served by Rapid Penang bus 306 and 502.
There are a myriad of amenities available in neighbouring towns, all within a short driving distance. Among the amenities available are Farlim Night Market, All Seasons Place, Lone Pine Club, SJKC Kong Min 2, Taman Metropolitan Relau, INTI International College, Bukit Jambul Complex, Bukit Jambul Country Club, and Bukit Jambul Golf Course.
There is also an Econsave supermarket about 5 minutes’ drive away. Further down the road is All Season Place, where Giant hypermarket and other eateries can be found. Most schools are in the Green Lane or Air Itam area. Green Garden is about 9.8 km from Komtar, and thus, it can be considered quite far from the city centre.
Accessibility
- Jalan Paya Terubong
- Thean Tek Highway
- Jalan Air Itam
- First Penang Bridge
- Paya Terubong
- Jalan Bukit Kukus
- Jalan Tun Sardon
- Jalan Angsana
- Rapid Penang bus 306 and 502
Education
- SJKC Kong Min 2
- INTI International College
- Sunway College
Medical Care
- Sunway Rehabilitation Hospital
Shopping
- Econsave
- Sunshine Farlim
- Farlim Night Market
- All Seasons Place
- Bukit Jambul Complex
Recreation
- Lone Pine Club
- Taman Metropolitan Relau
- Bukit Jambul Country Club
- Bukit Jambul Golf Course
Analysis
Initially, most of the residents who worked in the Bayan Lepas Free Industrial Zone commuted via Jalan Paya Terubong, which is the only main road running through the area. As one travels along Jalan Paya Terubong, one can’t help but to notice the towering apartment blocks that are sandwiched between the hills.
Among the issues within Paya Terubong are the clearing of hills and daily traffic jams. Traffic along Jalan Paya Terubong is heavy especially during rush hour, and this means that the commute to the city and the Bayan Lepas area would belong.
Sunway Valley City (SVC) is located in Ayer Itam, and the developer, Sunway Property has widened Jalan Paya Terubong to 4 lanes to help will alleviate the traffic condition while elevating the quality of living at the existing neighbourhood as a whole. SVC is a development with mix components of a shopping mall, a medical centre, residential suites, retail shops, office towers, and an education hub.
In 2011, Green Garden residents were embroiled in a tussle between their property manager and the then-formed JMB. It all started in March 2010 when the developer Gelanggang Kemilau was declared bankrupt.
The management and maintenance of the building was then taken over by a property manager called Nostalgia Kencana Sdn Bhd. Residents were concerned whether the fees paid to the old management were recorded.
On a drama-packed day, 2 separate meetings took place at the same time to address the grouses of the Green Garden folk. Nostalgia Kencana Sdn Bhd held an EGM to elect a new JMB, while a press conference was held by an earlier formed JMB.
Units for sale that are listed on PropertyGuru in March 2021 are from RM110,000 to RM140,000. On the other hand, rent is between RM400 and RM650 per month. So, for units purchased at RM110,000, and rented out at RM450 per month, the gross rental yield is about 4.91% per annum.
Here’s a look at residential properties in Penang.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Green Garden Apartment |
Freehold |
Apartment |
N/A |
550 sq ft |
RM50,000 |
|
Kiara Indah Condominium |
Freehold |
Condominium |
1997 |
850 sq ft – 950 sq ft |
N/A |
|
GL Garden |
Freehold |
Condominium |
1998 |
700 sq ft |
From RM150,000 |
|
Freehold |
Condominium |
2016 |
1,598 sq ft – 2,907 sq ft |
From RM760,000 |
|
|
Freehold |
Condominium |
2019 |
1,161 sq ft & 1,238 sq ft |
From RM600,000 |
|
|
Freehold |
Condominium |
2019 |
1,095 sq ft – 2,008 sq ft |
From RM900,000 |
|
|
Freehold |
Executive Apartments |
2019 |
1,042 sq ft – 1,372 sq ft |
From RM800,000 |
|
|
Freehold |
Condominium |
2020 |
1,036 sq ft – 1,424 sq ft |
From RM758,000 |
|
|
Freehold |
Serviced Residence |
2021 |
From 1,000 sq ft |
From RM475,000 |
|
|
The Stone by PLB Land Sdn Bhd |
Freehold |
Affordable Homes |
2022 |
1,000 sq ft |
From RM298,000 |
Summary
As pointed out, Paya Terubong is a densely populated area, and in 2017, a non-governmental organisation, Persatuan Anak Jati Pulau Pinang, raised concerns over hill clearing near the Paya Terubong Paired Road.
It was reported in September 2016 that the land clearing near Bukit Jambul and Paya Terubong is for the Paya Terubong Paired Road, which links Lebuhraya Thean Tek with Bukit Jambul. One part of the hill is cleared for the Majestic Heights revival project, while the other end is for the paired road project.
Then in 2018, a landslide hit the Bukit Kukus paired road project site. The Bukit Kukus paired road is a major concern for Penang Hill Watch (PHW) because this is upstream of Paya Terubong, a major population centre in Penang and not too far away from Relau on the other end of the road. PHW is an initiative by Penang Forum to provide a platform to keep watch on activities affecting the hills of Penang.
If you’re interested in a unit at Green Garden that’s priced at RM110,000, here are its estimated loan figures.
- LTV / margin of finance: 90%
- Down payment (10%): RM11,000
- Loan amount: RM99,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM428
- Approximate required gross annual income: RM17,200*
* Assumptions: No other monthly debt obligations, and 30% of gross income spent on the home loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
Use these calculators to adjust the loan numbers:
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