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Cover: Camping 10 nights to buy a new home

In Bandar Kinrara, Puchong

 

As this paper goes to print, a group of about 70 eager home buyers are camping out at the Perumahan Kinrara Bhd sales office in Bandar Kinrara, Puchong, Selangor.

The queue started with some 20 people early on July 29. By the time I&P Group’s new linkhouses in Phases B39/B40 of the freehold township are launched at 9am on Saturday (Aug 8), this group would have camped there for 10 nights and 11 days.

The 80 linkhomes, featuring modern contemporary designs, are priced from RM462,888 to RM693,888, and have an estimated gross development value (GDV) of just under RM40 million. Typical units measure 22ft by 75ft, with built-ups ranging from 2,151 to 2,551 sq ft.

Letters of invitation to the launch were sent out in late July to some 4,900 registrants who had expressed interest in the project. Among them were those who were unsuccessful during previous launches by the developer.

Two months ago, Bandar Kinrara had witnessed another queue. A total of 110 Desiran homes in Phase B41 were put on the market on June 6, and people started queuing up from June 1. A total of 2,900 invitations were sent out to those who had expressed interest in the units, measuring 24ft by 70ft and with built-ups of 2,353 to 2,589 sq ft, and tagged from RM485,888 to RM650,888.

The houses, with a GDV of RM56 million, were all snapped up on the same day and are expected to be completed in June 2011.

Earlier, on April 25, the developer had launched the MV1 & MV2 Idaman Homes, also in Bandar Kinrara.  The 34 units of 2-storey terraced and six units of 2-storey semi-detached houses, with a total GDV of RM22.5 million, were sold out within three hours.

The terraced units come in three sizes: 19ft by 85ft (2,125 sq ft in built-up), 31ft by 92ft (2,538 sq ft built-up) and 42ft by 85ft (2,633 sq ft built-up). These were priced at RM416,888, RM551,888 and RM681,888 respectively. The typical semi-detached unit, measuring 35ft by 85ft with a built-up of 2,538 sq ft, cost RM691,888, while typical corner units measuring 69ft by 92ft, with built-ups of 3,069 sq ft, were priced at RM885,888 onwards. The sizes and designs of the MV1 & MV2 homes vary considerably because they sit on the site of what used to be the developer’s model village.

Meanwhile, three more tentative launches have been lined up in Bandar Kinrara before the year is over. Next month, 24 units of 2-storey semidees in Phase 7A24 will be offered for a preview, to be followed by an official launch. The semidees, with a land size of 50ft by 90ft and built-up from 3,300 sq ft, have an indicative price of RM1.7 million onwards.

Then in October, 107 units of 2-storey terraced houses, measuring 22ft by 75ft with built-up from 2,350 sq ft, in Phase 7A13 will be launched at an indicative price of RM515,000 onwards. This project, with an estimated GDV of RM53 million, has been targeted for completion in October 2011.

Come December, the I&P Group will put on the market Phase 5A3 comprising eight units of 2-storey semi-detached units, measuring 40ft by 90ft with built-up of 3,600 sq ft onwards. These have an indicative price from RM1.7 milllon, giving an estimated GDV of RM 13.9 Million. The target completion is December 2011.

The I&P Group had its maiden launch in Bandar Kinrara back in 1984. Of its landbank of 1,904 acres, 75% has been developed with 10,761 units. Another 3,494 units have been planned for the remaining landbank.

 

This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 767, Aug 10-16, 2009.
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