Pantai Hillpark is located near the residential enclaves of Bangsar South and Bukit Pantai. This hilltop residence is considered as one of the great successes of property development in the Klang Valley.
Continue Reading ⋅ 19 February 2022
On a little off-road in Bandar Utama lies Pelangi Utama, a mid-range condominium complex of 6 blocks. It was developed by well-known property developer MKH Berhad in 2 phases of 3 blocks each, easily differentiated by the colour of the façade. Not to be confused with Pelangi Damansara in Kota Damansara, also by MKH, it attracts a moderately high demand due to its strategic location within Bandar Utama itself.
Completed 15 years ago, Pelangi Utama’s value has since appreciated substantially in line with the maturity of Bandar Utama as well as the subsequent development of neighbouring townships like Mutiara Damansara, Damansara Perdana and Kota Damansara. Infrastructural developments such as the Bandar Utama MRT Station have also contributed to its value and demand.
Address: Jalan Masjid, Bandar Utama, 47800 Selangor
Property Type: Condominium
Land Title: Residential
Total Units: 1,296
Tenure: Leasehold
Year of Completion: 2006
Built-up Area: 920 sq ft – 1,137 sq ft
Facilities:
- Swimming pool
- Wading pool
- Gymnasium
- Sauna
- Children’s playground
- Multi-purpose hall
- Cafeteria
Launch Price: From RM190,800
Launch Price Per Sq Ft: RM200 per sq ft
Maintenance Fee: N/A
Project Details
Pelangi Utama is a leasehold condominium by MKH Bhd on a 13.5-acre in Bandar Utama. It was developed in 2 phases. The first phase was completed in 2004, and the second phase in 2006.
Each phase delivered 648 units in the form of Blocks A, B, C, and Blocks D, E, F respectively, making a combined total of 1,296 units. Each of the blocks have 19 levels and each level has 12 units with 6 units on each side of the foyer. The development only offers 3 types of layout designs with built-ups of 920 sq ft, 1,000 sq ft and 1,137 sq ft. All units come with 3 bedrooms and 2 bathrooms.
Facilities are rather basic bordering on minimal especially by today’s standards. However, bear in mind that Pelangi Utama was completed 15 to 17 years ago as a mid-range development, so its offerings were considered adequate then. It has swimming pools on the ground level, gymnasium, sauna, and children’s playground. There is some effort with basic green landscaping, thus making the complex look cosy and presentable.
|
Unit Types |
Built-Up |
Launch Price |
|
Type A
|
· 1,137 sq ft · 3 bedrooms · 2 bathrooms · Corner unit |
From RM190,800 |
|
Type B
|
· 1,000 sq ft · 3 bedrooms · 2 bathrooms · End unit |
|
|
Type C
|
· 920 sq ft · 3 bedrooms · 2 bathrooms · Intermediate unit |
Location
Pelangi Utama is located on prime land in the township of Bandar Utama, which is on the border of Kuala Lumpur and Petaling Jaya. 1 Utama shopping centre is just 1km away (or a 15-minute walk), while it is a short drive to the Mutiara Damansara shopping belt of IKEA Damansara, The Curve, IPC Shopping Centre, and Tesco.
It is also close to other developed and growing townships such as Taman Tun Dr Ismail (TTDI), Damansara Utama, Damansara Jaya, Damansara Kim, Kota Damansara, and Damansara Perdana which are not short of public amenities, cafes and eateries, offering much convenience and choices for the residents. 1 First Avenue, Sri Pentas (TV3 Broadcast Centre) and One World Hotel are situated close by too.
Pelangi Utama is close to Persiaran Bandar Utama, one of the main roads in Bandar Utama, with easy access to major highways in the Klang Valley such as Lebuhraya Damansara-Puchong (LDP), SPRINT Highway, Penchala Link, and the New Klang Valley Expressway (NKVE).
The addition of the Bandar Utama MRT Station on the Sungai Buloh-Kajang line in December 2016 adds to Pelangi Utama’s accessibility. The station is located approximately 700m from the condominium complex; a very walkable distance.
Accessibility
- Lebuhraya Damansara-Puchong (LDP)
- SPRINT Highway
- New Klang Valley Expressway (NKVE)
- Penchala Link
- MRT Bandar Utama (SBK09)
Education
- Wawasan Open University, Bandar Utama
- Sri KDU / KDU International Schools
- The British International School of Kuala Lumpur
- Garden International School
- SRJK Puay Chai (2)
- SMK Taman Tun Dr Ismail
- SMK Bandar Utama 2 & 3
- SMK Damansara Utama
- First City University College
Medical Care
- KPJ Damansara Specialist Center
- Tropicana Medical Center
- Columbia Asia Hospital, Petaling Jaya
Shopping
- 1 Utama Shopping Centre
- IKEA Damansara
- The Curve
- IPC Shopping Centre
- TESCO Mutiara Damansara
- The Starling Mall
- Atria Shopping Centre
- Centrepoint Bandar Utama
Recreation
- Central Park, Bandar Utama
- Kidzania
- Bentley Music Academy
- Decathlon Sri Damansara
- KL Golf & Country Club
- Tropicana Golf & Country Resort
- Kelab Golf Seri Selangor
Analysis
Its location off the busy back-road of Jalan Masjid and the immediate surrounding area may be considered as less than desirable for some. However, the fact remains that Pelangi Utama is in a prime and strategic location, for it sits in the highly sought-after Bandar Utama township.
The area is also well connected to other popular areas in Petaling Jaya. With 1 Utama shopping centre, 1 First Avenue, One World Hotel, and the Bandar Utama MRT all within a 1km radius, Pelangi Utama attracts the likes of the working crowd and those who prioritise location and convenience.
A shortcoming of Pelangi Utama would be the limited parking availability. Many residents have resorted to unauthorised overnight parking by the roadside subjecting themselves to be at the receiving end of multiple summons by the local council.
As it is also a basic condominium, many of the units have been rented out by investor owners. The tenants comprise those working in the nearby commercial centres, and students. Unfortunately, for the other dwelling owners and residents, the latter category of renters may not lend towards a more conducive environment for families.
Despite the few drawbacks, the pros for Pelangi Utama seem to surpass the cons, largely contributed by its strategic location and hence rentability. A fully-furnished 1,137 sq ft unit can expect to garner a good rental yield of 4.35%.
Here’s a look at residential properties in Bandar Utama.
|
Project |
Land Tenure |
Unit Type |
Completion |
Built-up |
Approximate Launch Price |
|
Pelangi Utama by MKH Berhad |
Leasehold |
Condominium |
2006 |
920 sq ft – 1,137 sq ft |
From RM190,800 |
|
1 Bukit Utama by Bandar Utama Development Sdn Bhd |
Freehold |
Condominium |
2005 |
1,981 sq ft – 2,000 sq ft |
From RM950,000 |
|
9 Bukit Utama by Bandar Utama Development Sdn Bhd |
Freehold |
Condominium |
2012 |
1,831 sq ft – 7,500 sq ft |
From RM1,250,000 |
|
Casa Utama Townvilla by Ong Chong Realty |
Leasehold |
Townhouse Condominium |
N/A |
1,116 sq ft – 1,504 sq ft |
From RM565,000 |
Summary
The high-density mid-range Pelangi Utama condominiums is a no-frills development in Bandar Utama by prominent developer MKH Berhad. With the current wide selection of choices in the nearby areas, buying-to-stay may not be on top of the list for some. However, it is a good consideration as an investment due to it being a popular choice amongst the working crowd who do not mind renting due to its strategic location.
Fully completed in 2006 at a launch price of RM200 per sq ft, Pelangi Utama proved to be a solid investment as the value has appreciated significantly since and continue to have rental demand.
Listings on PropertyGuru.com.my indicate an asking price of approximately RM550,000 for a 1,137 sq ft furnished unit, while rental asking price for a similar unit is a notable RM1,950 to RM2,000 per month.
Here are estimated loan figures for a Pelangi Utama unit priced at RM550,000.
- LTV / margin of finance: 90%
- Down payment (10%): RM55,000
- Loan amount: RM495,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM2,141
- Approximate required gross annual income: RM85,800*
These calculations are based on the PropertyGuru Home Loan Calculator, and PropertyGuru’s Home Loan Eligibility and Affordability Calculator.
If you’re interested in calculating Debt Service Ratio (DSR), you may refer to the PropertyGuru Home Loan Pre-Approval tool. It is FREE to use and helps you avoid loan rejections. It has a 99.9% accuracy so you can be sure of home loan approval!
* Assumptions: You have no other monthly debt obligations, and 30% of gross income will be spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
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