• Pavither
  • 17 February 2021

Teratai Mewah Apartment is a freehold development located at Setapak, Kuala Lumpur. The construction of this development was completed in 2017, and it is situated in quite a prime location close to the KL city centre.

The development provides basic facilities and features such as a playground, and access card system. Mamaks, cafes, clinics, convenience stores, petrol kiosks, auto workshops and more, are all sited at the rows of shop lots nearby.

The blocks of Teratai Mewah Apartment are surrounded by several high-density residential developments such as Platinum Victory’s series of condominiums, Taman Setapak, and Taman Medan Idaman. Its sister development, Teratai Mewah Condominium is located along the same road, Jalan Langkawi.

Teratai Mewah Apartment is a freehold development located at Setapak, Kuala Lumpur

Address: Jalan Langkawi, Taman Setapak, 53000, Kuala Lumpur

Property Type: Apartment

Land Title: Residential

Total Units: 216

Tenure: Freehold

Year of Completion: 2017

Built-up Area: Approx. 635 sq ft – 950 sq ft

Facilities:

  • Playground
  • Access card system
  • Restaurants

Launch Price: N/A

Launch Price Per Sq Ft: N/A

Maintenance Fee: RM0.15 per sq ft

Project Details

Teratai Mewah Apartment is a freehold apartment in Taman P. Ramlee, and it consists of multiple blocks. The built-up areas range from 635 sq ft to 753 sq ft, and the development also comes with car park facility for its residents.

Teratai Mewah Apartment is a freehold apartment in Taman P. Ramlee, and it consists of multiple blocks.

The development is sited within close proximity to residences like Setapak Indah Jaya Apartment and Teratai Mewah Condominium. Residents get to enjoy the convenience of living in this area, where most amenities are just a short walk or drive away.

From supermarkets to beauty salons, banks to clinics, they are all there.

For those who prefer to get into their cars, they can drive to Jalan Genting Kelang, which is a few minutes away, for more options.

Teratai Mewah Apartment is a freehold apartment in Taman P. Ramlee, and it consists of multiple blocks.

Blocks

Details

Block 4 & 6

 

·       2 blocks

·       12 storeys

·       216 units

·       From 650 sq ft

Block 15, 17, 19 & 21

·       4 blocks

·       12 storeys

·       216 units

·       Approx. 650 sq ft – 753 sq ft

Block 42

·       5 storeys

·       60 units

·       Approx. 631 sq ft – 950 sq ft

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Location

Teratai Mewah Apartment is located in a prime location, and that’s one of the key pluses of living there. It is surrounded by plenty of developments and amenities. There are various educational institutions within a short walk, including TAR College, SK Danau Kota, and SMK Danau Kota.

It is easily accessible via Jalan Langkawi, Jalan Gombak or Jalan Genting Klang. It is also minutes away from Duta-Ulu Kelang Expressway (DUKE) and Middle Ring Road 2 (MRR2).

Those who travel via public transportation will find multiple bus stations along Jalan Genting Kelang, most of which are sited within a short drive away. There are also the TAR College bus, Rapid KL buses, Wangsa Maju LRT station, and Star LRT Danau Kota.

Teratai Mewah Apartment is a freehold development located at Setapak, Kuala Lumpur

Here’s a look at nearby routes and areas:

  • 5 minutes to DUKE
  • 5 minutes to Jalan Genting Klang
  • 5 minutes to Jalan Pahang
  • 10 minutes to MRR2
  • 10 minutes to Gombak / UIA
  • 10 minutes to Wangsa Maju
  • 10 minutes to Kuala Lumpur
  • 15 minutes to Damansara / NKVE

The Sungai Buloh-Serdang-Putrajaya MRT line include a station at Sentul West, and this benefits Setapak residents as they will enjoy greater accessibility.

Accessibility

  • Jalan Langkawi
  • Jalan Gombak
  • Jalan Genting Klang
  • Duta-Ulu Kelang Expressway (DUKE)
  • Middle Ring Road 2 (MRR2)
  • Wangsa Maju LRT station
  • Star LRT Danau Kota 

Education

  • SMJK Chong Hwa
  • SK Danau Kota
  • SK Danau Kota 2
  • SMK Danau Kota
  • SMK Gombak Setia
  • SJK (C) Mun Yee
  • Sri Utama International School
  • SJK (C) Wangsa Maju
  • SJK (C) Chong Hwa
  • SJK (C) Chiao Nan
  • SK Setapak
  • SK Taman Setia
  • SK Taman Melati
  • Tunku Abdul Rahman University College (TARUC)

Medical Care

  • Columbia Asia Hospital Setapak
  • Institut Jantung Negara (IJN)

Shopping

  • Econsave
  • Setapak Central (previously known as KL Festival City Mall)
  • AEON Big @ The Palette
  • Platinum Walk
  • M3 Mall
  • AEON @ Wangsa Maju
  • Wangsa Walk
  • AEON Big @ Wangsa Maju
  • Melawati Mall

Recreation

  • Danau Kota Lake
  • Tasik Sri Rampai
  • Taman Tasik Titiwangsa
  • Istana Budaya
  • Balai Seni
  • Zoo Negara
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Analysis

Teratai Mewah Apartment is considered a viable investment for stay or to let. With many amenities near to the apartment, owners can easily rent out their units to families, working professionals, and even students.

Teratai Mewah Apartment is a freehold apartment in Taman P. Ramlee, and it consists of multiple blocks.

Among the new developments that have changed the property landscape of Setapak are Setapak Central mall, and Platinum Lake. There is a potential for older residences like Teratai Mewah Apartment and Teratai Mewah Condominium to appreciate further.

Listings in PropertyGuru in February 2021 show that the asking monthly rental for 653 sq ft units are about RM800, while purchase prices are asking from RM200,000 to RM220,000. For units purchased at RM220,000, and rented out at RM800 per month, the gross rental yield would be 4.36% per annum.

Here’s a look at residential properties within or close to Setapak.

Project

Land Tenure

Property Type

Completion

Built-up

Approximate Launch Price

Teratai Mewah Apartment

Freehold

Apartment

2017

Approx. 635 sq ft – 950 sq ft

N/A

Teratai Mewah Condominium

Freehold

Condominium

 

N/A

930 sq ft

From RM400,000

Alpha Villa by Wangsa Land Sdn Bhd

Leasehold

Apartment

2008

1,070 sq ft

From RM366,000

Setapak Green by UOA Group

Freehold

Condominium

 

2014

1,362 sq ft – 1,588 sq ft

From RM549,800

100 Residency by Kerjaya Prospek Group Berhad

Freehold

Condominium

 

2016

1,447 sq ft – 1,825 sq ft

From RM770,000

Bennington Residences by Bennington Development Sdn. Bhd.

Leasehold

Condominium

 

2019

1,092 – 1,570 sq ft

 

From RM589,680

 

PV18 Residence by Platinum Victory Development Sdn Bhd

Leasehold

Condominium

 

2021

 

1,021 sq ft – 1,219 sq ft

From RM473,000

Vista Danau Kota by Platinum Victory Development Sdn Bhd

Leasehold

Residensi Wilayah

Jan 2025

810 sq ft

RM300,000

 

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Summary

A rather large number of students reside in Setapak. This is due to the educational institutions there, including Tunku Abdul Rahman University College, Institute of Childhood Education-Studies & Community Education, VTAR Institute, Malaysian Institute of Art, Dasein Academy of Art, and AlDiwan International Centre for Teaching Arabic. Therefore, rental prospects should remain healthy post-COVID19.

Teratai Mewah Apartment is a freehold apartment in Taman P. Ramlee, and it consists of multiple blocks.

The population in Setapak has grown over the years, following the development of condominiums, shopping malls, and commercial properties there. If you’re interested in a 653 sq ft unit at Teratai Mewah Apartment that’s priced at RM220,000, here are its estimated loan figures.

  • LTV / margin of finance: 90%
  • Down payment (10%): RM22,000
  • Loan amount: RM198,000
  • Loan term: 30 years
  • Interest rate: 3.2%
  • Monthly repayment: RM856
  • Approximate required gross annual income: RM35,000*

* Assumptions: No monthly debt obligations, with 30% of gross income spent on housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.

Hey, use these calculators to adjust the loan numbers:

Find out your Debt Service Ratio (DSR) too!

DSR is a method used by banks in Malaysia to calculate whether you can afford the loan you’re applying for. To calculate your Debt Service Ratio (DSR), refer to the FREE PropertyGuru Home Loan Pre-Approval tool. It has a 99.9% accuracy, which greatly helps in avoiding loan rejections.

 

Keep browsing Malaysia’s largest property site for more project reviews.

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Eric Wong

Pavither

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