By LIM WING HOOI | firstname.lastname@example.org
PETALING JAYA: The Low Yat Group, which is developing the 1,081ha Bandar Tasik Puteri (BTP) township, believes the real property gains tax increase and removal of developer interest-bearing schemes will not have much impact on the company due to its product pricing.
The company’s project/construction management director Lee Kok Wah told StarBiz that most buyers of BTP properties were owner-occupiers, while the homes were mostly in the mid-price range.
“These measures would mostly hit speculators rather than genuine investors,” said Lee.
He said the company recently opened phases four and five of the Garden Heights range of homes in the township for preview.
These phases have a combined gross development value (GDV) of RM90mil and comprise 163 units of double-storey terraced houses priced from RM480,000 to RM800,000.
Lee said 90% of phase three’s 114 units of double-storey terraced houses launched in July had been sold.
Besides residential properties, the company also recently opened the Centro@Medan Puteri shop-offices comprising 24 three-storey units with a GDV of RM40mil.
He said this was to cater to the growing population of the township and surrounding areas, estimated to be at around 60,000.
A number of the more expensive units priced from RM1.3mil to RM3mil had been taken up at the preview.
Meanwhile, the company is continuing to upgrade the infrastructure of the township and surrounding neighbourhoods.
Lee said the RM100mil interchange off the Latar Expressway would be completed at end-2015.
He said the construction of the interchange would cut down the time for the township’s residents to reach Kuala Lumpur.