Residensi Pandanmas 2 consist of 3 blocks of apartments, over 8.71 acres of leasehold land in Kampung Pandan.
Continue Reading ⋅ 19 February 2022
Residensi WangsaMas is a leasehold apartment at Jalan Wangsa Delima in Wangsa Maju, Kuala Lumpur. The project was developed by Era Ecoland Sdn Bhd, a subsidiary of Aset Kayamas Group.
This project is under the Residensi Wilayah (previously known as RUMAWIP) programme, and the application was opened on 19 September 2016 and subsequently closed on 25 September 2016. Residensi WangsaMas was completed at the end of 2020.
Eligibility is assessed under a priority status, with the following conditions:
- Malaysian citizen
- 21 years old and above
- Born, work, or live in any of the Federal Territories.
- Priority given to those who do not currently already own property
- Individual income no more than RM10,000 per month
- Married couples’ income no more than RM15,000 per month
- Only one offer of RUMAWIP per household
For more details on Residensi Wilayah, click here.
Address: Lot 28065, Jalan Wangsa Delima, Wangsa Maju, 53300, Kuala Lumpur
Developer: Era Ecoland Sdn Bhd (subsidiary of Aset Kayamas Group)
Property Type: Apartment
Tenure: Leasehold
No. of Storeys: 46
Total Units: 441
Year of Completion: 2020
Built-up Area: 800 sq ft
Facilities:
- Funeral services (Muslim and Non-Muslim)
- Tadika
- Nursery
- Mail room
- Multi-purpose hall
- Shop
- Laundry
- Management office
- Surau
- Outdoor area
- Green area / Children’s playground
Launch Price: RM198,000
Project Details
The 46-storey Residensi WangsaMas comprises 441 apartment units, and each unit has a built-up of 800 sq ft. There are 3 bedrooms and 2 bathrooms per unit, which fits individuals, young couples, and small families.
The corridors are cement rendered, and the corridor with double units will be busier than those with single units. The yard’s floor in units are tiled, and so is the balcony. As for the bathrooms and kitchen, they come with 1.5m height wall tiles.
Even though it is marketed as affordable homes, Residensi WangsaMas comes with basic facilities including a kindergarten, nursery, multi-purpose hall, surau, and children’s playground, among others.
Features of Residensi WangsaMas:
- 800 sq ft
- 3 bedrooms
- 2 bathrooms
- 1 covered car park
- 13 units per floor
Location
Residensi WangsaMas is located in Wangsa Maju, and that puts residents just about 12km from the KL city centre via the Duta-Ulu Kelang Expressway (DUKE).
The development is also well-served by public transport such as LRT, taxis, and buses. In fact, Residensi WangsaMas has a link bridge to the Sri Rampai LRT station. Residents will have access cards to get on to this link bridge.
The project is adjacent Wangsa Walk Mall, and close to several other malls, including AEON Big Wangsa Maju, AEON Alpha Angle, and Melawati Mall. As for schools, there are many around Residensi WangsaMas (please refer to the list below).
Accessibility
- Jalan 6/27A
- Middle Ring Road 2 (MRR2)
- Jalan Genting Klang
- Duta-Ulu Kelang Expressway (DUKE)
- Ampang-Kuala Lumpur Elevated Highway (AKLEH)
- Sri Rampai LRT Station
- Wangsa Maju LRT Station
Education
- Dasein Academy of Art
- SMK Sek. 5 Wangsa Maju
- Fairview International School
- SMK Seri Keramat
- SMK Lembah Keramat
- SMK Taman Setiawangsa
- SMK Taman Seri Rampai
- SK Setapak Jaya
- SK Seri Bonus
- SMK Wangsa Maju Sek. 2
- Kolej Vokasional Setapak
- SMK Setapak Indah
- Tunku Abdul Rahman University College (TARUC)
- SMK Chong Hwa
- Malaysian Institute of Arts (MIA)
Medical Care
- Rampai Puteri Medical Centre
- Columbia Asia Hospital
- Gleneagles Hospital
Shopping
- Wangsa Walk Mall
- AEON Big Wangsa Maju
- AEON Alpha Angle Shopping Mall
- Melati Mall
- Setapak Central Mall
- Great Eastern Mall
- Suria KLCC
Recreation
- Kompleks Sukan Setiawangsa
- Basketball court Sri Rampai
- Lake Titiwangsa
- Zoo Negara
Analysis
Residensi WangsaMas has its location going for it. Amenities are close by, and so are several highways and expressways. The project is opposite Wangsa Walk Mall and the Sri Rampai LRT station, 5 minutes’ drive to DUKE and MRR2, and has easy access to NKVE. Residents can also get to Jalan Ampang, which brings them straight to KL city centre.
The project is also close to TARUC and Malaysian Institute of Arts (MIA), so there’s a potential market for rental to students.
While there’s an access card for the link bridge, there isn’t one required at the guardhouse or lift. So, security could be a concern for some. As it is an affordable home under Residensi Wilayah, facilities are basic. However, that won’t matter much for those who don’t need or want to use facilities to begin with. While there’s no skirting and the ceiling height is slightly lower at 2.8m (about 9.1 feet), and the corridor is purely cemented instead of tiles, the development is still a good starter home for those who managed to get a unit via the ballot. It’s very much a liveable and decent environment.
Here’s a look at residential properties in Wangsa Maju.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Residensi WangsaMas by Era Ecoland Sdn Bhd |
Leasehold |
Apartment |
2020 |
800 sq ft |
RM198,000 |
|
Villa Wangsamas by Setapak Heights Development |
Freehold |
Condominium |
2010 |
1,267 sq ft – 2,562 sq ft |
From RM203,888
|
|
Riana Green East by Elegan Pesona Sdn Bhd |
Leasehold |
Condominium |
2012 |
790 sq ft – 4,625 sq ft |
From RM187,800 |
|
Infiniti Residences by Setapak Heights Development |
Leasehold |
Condominium |
2017 |
1,085 sq ft – 1,518 sq ft |
From RM645,000 |
|
Seri Riana Residence (Phase 2) by IJM Land |
Leasehold |
Condominium |
2017 |
1,259 sq ft – 1,830 sq ft
|
From RM735,000 |
|
Seasons Garden Residences by SCP Group |
Leasehold |
Serviced Apartment |
2018 |
770 sq ft – 900 sq ft |
From RM394,200 |
|
Irama Wangsa (Block C) by Beneton Properties |
Freehold |
Condominium |
2018 |
1,206 sq ft – 1,637 sq ft
|
From RM750,000 |
|
Wangsa 9 Residency (Tower A) by Mitrajaya Holdings |
Freehold |
Condominium |
2019 |
1199 sq ft – 2,454 sq ft
|
From RM855,760
|
|
Lexa Residence @ The Quartz by Beverly Group |
Freehold |
Serviced Apartment |
2019 |
662 sq ft – 919 sq ft
|
From RM420,000 |
|
Henna Residence by Beverly Group, MapleTree and Lai Sun |
Freehold
|
Condominium |
2021 |
From 657 sq ft
|
From RM370,000
|
|
The Hamilton by Aset Kayamas |
Leasehold |
Condominium |
2020 |
1,000 sq ft – 2,200 sq ft |
From RM498,000 |
|
Sunway Avila by Sunway Property |
Freehold |
Serviced Apartment |
2023 |
732 sq ft– 1,227 sq ft |
From RM430,000 |
|
Sunway Artessa by Sunway Property |
Freehold |
Serviced Apartment |
N/A |
1,109 sq ft & 1,303 sq ft |
From RM699,000 |
Summary
For those who purchased at RM198,000, the estimated loan figures are as follows.
- LTV / margin of finance: 90%
- Down payment (10%): RM19,800
- Loan amount: RM178,200
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM771
Available listings in PropertyGuru in August 2021 show that the asking monthly rental for partially furnished units are approximately RM1,350, while fully furnished units could fetch approximately RM1,800. Thus, those renting units out can cover their monthly repayment to the bank. Calculations for the monthly repayment are based on the PropertyGuru Home Loan Calculator. Use it and play around with the figures!
Units under Residensi Wilayah can’t be sold for 10 years. One might point out that if a property is making positive cashflow, then why not continue to keep it in your property investment portfolio. The good thing about projects under Residensi Wilayah is that units are allowed to be rented out, unlike Program Perumahan Rakyat (PPR) where units are not allowed to be rented out.
Other affordable homes by Aset Kayamas Group include Residensi Riamas in Klang Lama, Residensi Desa Sentralmas, Residensi Razakmas 2, Residensi Kuchaimas in Kuchai Lama, and Residensi Kepongmas 2, among others. They also developed luxury high-rise residences including AXON in Bukit Bintang, The Harmony in Old Klang Road, The Hipster in Taman Desa, The Hermington in Kuchai Lama, The Herz in Kepong, The Holmes 2 in Bandar Tun Razak, The Havre in Bukit Jalil, and several others.
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