My First Property!

I bought my first property! Since it’s my first, I will try to document everything and anything about it… So please bear with me k!

Project Name
First thing first, the development is called Kuchai Avenue.

Location
The condo is located in Jalan Kuchai Lama, a very established and matured neighbourhood on the outskirts of the city. It has always been seen as a connecting part of Old Klang Road, Happy Garden, and Sungai Besi. Plus, it is also very near to Sri Petaling, KESAS, National Stadium and TPM from there on. And heck, I studied in Kuchai Lama so I practically grew up in that area ler!
Given the strategic location, Kuchai Avenue is also easily accessible via the main highways (North-South Highway, LDP, KESAS, NPE) as well as from the neighbouring city and suburbs (Bangsar, PJ, Subang Jaya, Mid-Valley). But most importantly, it is a walking distance from my parents’ house.

Land Type & Development Size
Kuchai Avenue is set on a massive 5 acre plot of previously vacant land. On the plot beside it, the developers are currently building a medium size commercial area with shop lots (Kuchai Business Park). Actually, this would mean more jam to an already congested area but I’m pretty bad with roads and have only now familiarized myself with a few roads thus the fact that this is near where I’m currently staying will be a plus point to me.

Description
Kuchai Avenue will itself be a commercial development. There will be shops on the ground floor of the entire area. The parking for the commercial area is located on a basement floor. Above the shops are a few levels of parking for the condo, followed by the condo units. Was rather worried that there will be shops beneath the condo but was informed by the salesperson that the shops were restricted to F&B outlets and since I don’t know how to cook, should be OK gua. And oh, it's freehold (but my friend mentioned that free or lease also, it's not really relevant cos either way, we we won't live up till 99 years to witness the day... hehe)

No. of Units & Price
Kuchai Avenue comes with 3 different blocks (with a total of 612 units)
Phase 1: Kuchai Avenue I (272 units, with 17 floors and 16 units per floor)
Phase 2: Kuchai Avenue III (204 units with 17 floors and 12 units per floor)
Phase 3: Kuchai Avenue II (136 units with 17 floors and 8 units per floor)
Ya, terbalik one… last phase was KA II instead of III...

Since there were 3 different launches, there were also 3 different prices. But the price below doesn’t include the parking bay which is mandatory at RM20,000 per bay (restricted to 2 bays per owner). 2nd bay can purchased at a discounted rate of RM15,000:
Phase 1: from RM146,500
Phase 2: from RM151,500 (increased RM5K)
Phase 3: from RM161,500 (increased RM10K)

I bought Phase 3 for RM167,500 and with the additional RM20,000 for parking, the price comes up to RM187,500. Although the price is steep, Kuchai Avenue II comes with the least number of units per floor; 8 units vs. the KAI with 16 units and KAIII with 12 units.

Unit Size
Kuchai Avenue comes in only 1 size: 935 sq ft. I know it’s not very big and kinda steep for the price above but since it’s my first property, I think it’s sufficient la:

Amenities The condo comes with what I would term the basic amenities but having stayed in a condo for so long... I've only used the pool once so these will not be the judging criteria when it comes to buying a place (for me la). And with that, the maintenance fee is set at 13sen psf which is equivalent to RM121 per unit for each units.

Other Info

• Completion date: Estimated mid 2009...
• Developer: Akisama Properties & Construction Sdn. Bhd. (the same developer that developed Continental Heights in Happy Garden and Dynasty Garden in Kuchai Enterpreneurs Park)

:) More on this later...