Binjai 8 is a freehold Small-Office-Home-Office (SoHo) development in the acclaimed and much sought after Kuala Lumpur City Centre (KLCC) area.
Continue Reading ⋅ 26 February 2021
MKH Bhd (formerly known as Metro Kajang Holdings Berhad) launched Saville@Cheras in 2015. It has a gross development value (GDV) of RM307 million, and was completed in 2019. The property enjoys much attention due to its quality and affordable pricing.
Saville@Cheras is a mixed-use development, with both residence and retail components. It targeted small- to medium-sized families, couples, and students. The development is centrally located, which lends to quick access to facilities, amenities and routes to various parts of the city.
There are numerous retail outlets that sit right underneath the development. Plus, hypermarkets and educational institutions are just a short drive away. Saville@Cheras’ green features also include sheltered walkways and natural shades in common areas. These are part of its landscape design to create a cooling environment.
Apart from direct access to the Cheras-Kajang Highway (Grand Saga), Saville@Cheras has a 7-meter sheltered link bridge that connects directly to the Sri Raya MRT station from its retail component on the fifth level.
Address: No.1, Persiaran Sri Raya, Taman Sri Raya, 43200 Cheras, Selangor
Property Type: Integrated Development
Land Title: Mixed
Land Area: 2 acres
Total Units: 352 apartment units & 62 retail units
Tenure: Freehold
Office: Management Office, 12-1, Level 12, Saville Cheras, No.1, Persiaran Sri Raya, Taman Sri Raya, 43200 Cheras, Selangor
Year of Completion: 2019
Built-up Area:
- Residence: 1,130 sq ft – 4,670 sq ft
- Retail lots: 291 sq ft – 1,827 sq ft
Facilities:
- Swimming pool
- Wading pool
- Sauna
- Gym
- Playground
- Yoga deck
- Zen garden
- Exercise pod
- Sunbathing deck
- BBQ area
- Waterjet
Launch Price: From RM650,000
Launch Price Per Sq Ft: About RM500 psf (apartment units) / about RM1,600 psf (retail units)
Project Details
Saville@Cheras is a 43-storey mixed-use development located on a 2-acre freehold land in Cheras. It comprises 352 serviced apartment units, 62 retail shops, and 1,000 parking bays.
The apartment units have a built-up area of between 1,130 sq ft and 4,670 sq ft. Saville@Cheras has a 3-tier security system and facilities such as gymnasium, yoga deck, Zen garden, swimming pool, barbeque area, and more. Selling prices started at RM650,000, and units face either Ulu Langat, or Cheras-Kajang Highway & MRT station.
As for the retail units, the built-ups range from 291 sq ft to 1,827 sq ft, and prices started from RM502,000.
|
Unit Types |
Built-Up |
Launch Price |
|
Type A |
· 1,130 sq ft · 3 bedrooms · 2 bathrooms · Balcony · Yard |
From RM650,000 |
|
Type B1 |
· 1,367 sq ft · 3 bedrooms · 2 bathrooms · Balcony · Yard |
|
|
Type B2 |
· 1,463 sq ft · 3 bedrooms · 2 bathrooms · Balcony · Yard |
|
|
Type C1 |
· 1,603 sq ft · 3 bedrooms · 2 bathrooms · Balcony · Yard |
|
|
Type D |
· 4,670 sq ft · 6+1 bedrooms · 6 bathrooms |
Location
Saville@Cheras provides the convenience of having the Sri Raya MRT station directly linked to the development. With retail units located underneath the serviced apartments, residents can live, shop, run their own business, and commute to popular areas under one roof.
The integrated Sri Raya MRT station will boost the business catchment area in Saville@Cheras, as it benefits owners of the retail units. Besides the MRT station, Saville@Cheras is connected to several highways, including the Cheras-Kajang Highway, Kajang Dispersal Link Expressway (SILK), Middle Ring Road 2 (MRR2), and East-West Link Expressway.
Here’s a breakdown of hot areas that are close to Saville@Cheras:
- 6 km to Leisure Mall
- 8 km to Cheras Sentral Mall
- 16 km to KL Sentral
- 16 km to KLCC
- 16 km to Mid Valley City
- 18 km to Bangsar
- 18 km to IOI City Mall
- 25 km to Petaling Jaya
Accessibility
- Cheras-Kajang Highway (Grand Saga)
- Kajang Dispersal Link Expressway (SILK)
- Middle Ring Road 2 (MRR2)
- East-West Link Expressway
- Sri Raya MRT station
Education
- Cheras Cempaka International School
- REAL Suria Campus
- USCI University
- Universiti Tunku Abdul Rahman
- Beaconhouse Sri Murni
- SA Batu 10 Cheras Selangor
- SK Dusun Nanding
- SK Taman Puteri
- SM Agama Batu 10
- SMK Perimbun
- SRA Batu 10 Cheras
- Sri Murni School
- Royal Malaysia Police College
Medical Care
- Sunway Medical Centre
- Sunway Velocity Medical Centre
Shopping
- Cheras Leisure Mall
- Cheras Sentral Mall
- Giant (Batu 9)
- IKON @ Connaught
- Cheras Sentral Mall
- AEON Cheras Selatan
- AEON Big Bandar Tun Hussein Onn
- Giant (Taman Connaught)
Recreation
- Royal Selangor Golf Club
Analysis
With its direct connectivity to the Sri Raya MRT station, residents can get to the Kuala Lumpur city centre (KLCC) quickly, minus the hassle of looking for a parking lot, pay highly for parking fees, or be possibly stuck in a jam.
The sale price of a 1,463 sq ft unit listed on PropertyGuru in January 2021 is from RM650,000 to RM678,000. On the other hand, rent is about RM2,800 per month.
So, if you purchase a unit priced at RM650,000, and rent it out at RM2,800 per month, the gross rental yield would be 5.17% per annum.
Here’s a quick comparison of properties in Cheras.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Saville@Cheras by MKH Berhad |
Freehold
|
Apartment |
2019 |
1,130 sq ft – 4,670 sq ft |
From RM650,000 |
|
Freehold
|
Serviced Apartment |
2017 |
596 sq ft – 1,240 sq ft |
From RM563,000 |
|
|
J.Dupion by Jalek Development |
Leasehold |
Serviced Apartment |
2018 |
800 sq ft – 1,556 sq ft |
From RM800,000
|
|
Leasehold |
Serviced Apartment |
2020 |
807 sq ft – 1,356 sq ft
|
From RM1,103,440
|
|
|
V Residence 2 @ Sunway Velocity by Sunway Integrated Properties Sdn Bhd |
Freehold
|
Serviced Residence |
2018 |
850 sq ft – 1,136 sq ft
|
From RM570,000 |
|
Freehold
|
Condominium |
2021 |
840 sq ft – 1,195 sq ft |
From RM566,000
|
|
|
Freehold
|
Semi-Detached & Bungalow
|
2015 |
3,366 sq ft – 5,838 sq ft |
From RM1,500,000
|
Summary
Cheras is one of the oldest residential areas in the Klang Valley, and it is saturated with homes. Developments have moved southwards towards Balakong in Selangor, and new developments there are being marketed as Cheras Selatan or Cheras South. With rising property prices and land scarcity in Kuala Lumpur, more people are naturally driven to Cheras South and Kajang.
Other projects by MKH Bhd are Saville@Kajang, Saville@Puchong, Kajang 2 Merridien Suite, and Hillpark@Shah Alam North, among others.
Here are some estimated loan figures for a Saville@Cheras unit priced at RM650,000.
- LTV / margin of finance: 90%
- Down payment (10%): RM65,000
- Loan amount: RM585,000
- Loan term: 35 years
- Interest rate: 3.2%
- Monthly repayment: RM2,317
- Approximate required gross annual income: RM93,000*
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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