Penang Property Talk

@FireDragon

I trust the aviation industry experts on their assessment and guidelines. The guideline says for airport with air traiffic of less than 500 flights (departure + arrival) per day, noise pollution for houses at 0.8km away from the runway is negligible. If the house is along the flight path, it has to be 4.8km away from the end of the runway.

Actually the min distance is 0.3km, but will have some level of noise if distance is less than 0.8km.

Facts:
Fiera Vista is more than 1km away from the runway. Noise is negligible.
QBM is 3km away from the end of the runway, but under the flight path. Will have some noise effect from aircraft.
Penang airport only have about 130 flights (takeoff + landing) daily. First flight is 7am, last flight is 11pm.
Only Cathay and Taiwan use larger aircrafts to Penang, the rest are smaller aircrafts. Cathay only fly once a day, Taiwan airline even less.

Based on my study, aircraft noise should not be a problem when considering to buy FV.

Tower “officially” launched last Sat. Not sure how the response. Must be only few units left as always…

wbk :Tower “officially” launched last Sat. Not sure how the response. Must be only few units left as always…

I mean Tower 3.

@wbk

You are like real time reporter at the scene ><"

wbk, how did you get the update? you always steps into Ideal office?

wbk :@FireDragon
I trust the aviation industry experts on their assessment and guidelines. The guideline says for airport with air traiffic of less than 500 flights (departure + arrival) per day, noise pollution for houses at 0.8km away from the runway is negligible. If the house is along the flight path, it has to be 4.8km away from the end of the runway.
Actually the min distance is 0.3km, but will have some level of noise if distance is less than 0.8km.
Facts:Fiera Vista is more than 1km away from the runway. Noise is negligible.QBM is 3km away from the end of the runway, but under the flight path. Will have some noise effect from aircraft.Penang airport only have about 130 flights (takeoff + landing) daily. First flight is 7am, last flight is 11pm.Only Cathay and Taiwan use larger aircrafts to Penang, the rest are smaller aircrafts. Cathay only fly once a day, Taiwan airline even less.
Based on my study, aircraft noise should not be a problem when considering to buy FV.

How about Korean Air ? Asiana Air ? Fedex ? These are 747-400 Freighter flight coming in the morning. Not including the afternoon China Airlines, EVA Air carrier in the afternoon.
Taiwan based carrier from Taipei flew in 4 or 2 times per week. Not including the daily China Airlines passenger flight. Please define large aircraft? I suggest you drive across Permatang Damar and see the construction going on and the end of airport runway. This is to cater for even larger configuration towards A380 type of aircraft to land in PEN International airport.
Do further research friend

@beckscum7

I am not sure you should address me as your friend as you sounded very sarcastic.

I am not sure about Permatang Damar. But I guess it is too far away from Fiera Vista, there are from the other side of the runway. All DHL and Fedex facilities are at the other side of the runway, near Batu Maung.

I have a few friends staying at Gold Coast, which experienced daily overhead flight passing above their houses. No complaint so far even though their condo is within the noise contour.

Again, I can only share what I know, either from experience or from the airport design/location guidelines.

Frankly speaking, after you stay for a few months you will immune to the airplane noise already. Try talk to those who stay next to school or mosque. First fews months will get frustrated by the school assembly announcement and mosque broadcast a few times a day. After you stay longer, you won’t realize there is actually a school or mosque nearby.

@wbk

Thanks for your technical sharing about the noise. Appreciate much.

MVP :@wbk
You are like real time reporter at the scene ><”

Just ngam ngam went to the showroom on Sat. Saw many people there. Thought fellow forumers should know.

kulikia :wbk, how did you get the update? you always steps into Ideal office?

No lar. Just curious about some properties in this area. And it wouldn’t hurt to share.

@wbk
Thanks for the sharing… Does anyone know when will ideals start the construction for FV?

I got quite sometime never goto Ideal office. Any updates about Tower 3? What is the latest price psf? How is the demand?

Anyone received letter from Ideal stated that all the units with skirting? Previous spec without skirting? I also not aware of it.

@YK
You mean something outside the unit to put the aircon compressor? I did ask the sale girl, she said yes according to the model. Don’t really trust her words on this. Maybe the buyer can write to Ideal for a confirmation. Everything must be black and white.

Hi wbk….thanks a lot for the sharing on noise pollution. I do agree with MVP that even if there is noise you will be immuned to it after a few months.

@wbk

Hi wbk, I’m referring to the skirting on the wall edge. Nowadays a lot of new projects without skirting and you will facing hard time when mop the floor.

@YK

Should have gua. The cheap apartment that I rent previously with lousy tiles also got.

Today just received letter from Ideal that confirmed there will be floor skirting provided to the internal of the unit.

I received confirmation from Ambank that they managed to offer BLR -2.45% for whole tenure & I planned for full flexi loan (RM10/month), now waiting for their MLTA or MRTA for comparision.

Last Saturday went to their show unit office & they just launch for Tower 3 which 60% was sold (all unit size are 1400sqft or 1450sqft, price start from RM512K), Tower 1 & 7 was sold out, Tower 5 left about 10 units of 1650sqft.

Checked with Ideal office last Saturday that no aircond piping provided, just aircond point & the celling height is 10.5 feet

Noise from the aircraft is minimal as my previous office just beside the runway (Sg Tiram) & one is in the aircargo complex

@2298

Left over units shld b less than 10%? Good response. Wah, AmBank managed to offer BLR – 2.45% but too late bcoz already took OCBC

It need to file for -2.45% & finally get the approval from their KL HQ as my company account & current housing loan is under them

@2298

Do you have the banker contact?

@YK

Did you have the clause in offer letter saying you need to start the instalment upon 37 months from the date of Offer Letter? No concern meh?

@MVP

I not applied AmBank loan. BTW, I didn’t received my stamped copies yet.

@MVP
installment start 37 months from date of letter of offer? that mean if there is long time difference between S&P stamping & letter offer date, then it is actually not really “interest-free until VP” if IDEAL take exactly 36 months from stamping date to complete.
Thanks for highlighting to buyers.

@1957

I thought this is standard term for all zero interest until VP schemes. Developer will always subsidize the loan interest until vacant procession. When 37th month comes, you only need to pay your portion while the developer pay the interest, which can be 70-80% of the installment. Look at it, it will reduce your cost easily by $40-50k during the 3-year constuction period.

If project delayed, developer has to fork out more money to pay the loan interest for us, in other words they will try harder to complete it on time.

Btw, does anyone know whether the new Penang Transport Master Plan includes the monorail from Airport to Tanjung Tokong again? If yes, it will be a great news for FV buyers.

Hardly Pg island to have monorail service within this 10 years because the island is too small.

@YK

I thought Penang monorail was approved before Pakaran Rakyat win the election. Federal government then postponed it indefinitely. Now Penang state government is putting up a master plan study. Monorail is most suitable for highly populated area like KL Bukit Bintang area. Now Malacca also started the monorail construction, even though less populated.

AmBank Pg Town – Tan Soon Seng 012-4271512

Read that Sathu Residence just got the vacant procession notice. Hopefully the residence there do nice nice landscape and renovation. Sure some businessmen will light up the firework during CNY one, then FV residence can watch.

Will there be centralized Astro satellite disk and embedded fiber optic cable to the house? This should be standard installation nowaday, but did anyone ask IDEAL before or stated anywhere in the SnP?

@1957

The sales girl said yes. But don’t know whether support Astro Beyond.

A taxi driver told my friend that Penang Airport will be having an airport hotel and a new terminal in next phase expansion. And Sungai Batu at Teluk Kumbar will be having a new resort and water theme park (by 2014) which has started land clearing. Guess you guys might want to know what is happening around this area.

@wbk

how abt internet cable? is there embedded fiber optic or LAN cable?

@1957

This one she doesn’t know. I think no fiber optic or else Ideal will sure market this feature during the launch.

AJC Consulting unveiled the Penang Transport Master Plan proposal last night. Only read that the sea tunnel is shelved. Need to find out whether monorail will be there and whether the road lead to Teluk Kumbar will be widen. This has been in discussion since 2006 I believe.

@wbk

Widen the road to Teluk Kumbar nothing impact for FV prices. The most important whether got Monorail station nearby this residential area? Airport for sure have a station but since it is too close to this residential region, they might not consider to build another one nearby.

@FireDragon

Road to Teluk Kumbar junction is important for those who travel to KL often. Based on the Balanced Approach Vision in the new Penang Transport Master Plan, they do mention about inclusion of Communal Rail, I guess the monorail is still on the table. Station at Airport is sufficient as it will be convenient for teenagers who live in Fiera Vista to go to schools or town by themselves. I am sure there would be feeder or shutter bus to airport as well if the monorail is a go.

Hopefully this can happen sooner than later.

I heard that Tower 3 all high floor booked already, only left units at low floor. Selling really fast, only launched less than two weeks.

@YK, MVP, wbk
Did you find any clause in the SPA said that developer will bear the interest until VP? Just to be get it in “black & white” since for the case of OCBC loan, bank will full release all the balance amount to developer by month 36 from date of OFFER LETTER even though project not complete. How to the bank charge the interest to developer (instead of borrower) since there is no legal bind between developer & bank?

How about other bank loans?
- is it start from the date of offer letter, or date of loan agreement?
- compulsory for MRTA?

wbk :@1957
I thought this is standard term for all zero interest until VP schemes. Developer will always subsidize the loan interest until vacant procession. When 37th month comes, you only need to pay your portion while the developer pay the interest, which can be 70-80% of the installment. Look at it, it will reduce your cost easily by $40-50k during the 3-year constuction period.
If project delayed, developer has to fork out more money to pay the loan interest for us, in other words they will try harder to complete it on time.
Btw, does anyone know whether the new Penang Transport Master Plan includes the monorail from Airport to Tanjung Tokong again? If yes, it will be a great news for FV buyers.

-20850″>
wbk :@1957
I thought this is standard term for all zero interest until VP schemes. Developer will always subsidize the loan interest until vacant procession. When 37th month comes, you only need to pay your portion while the developer pay the interest, which can be 70-80% of the installment. Look at it, it will reduce your cost easily by $40-50k during the 3-year constuction period.
If project delayed, developer has to fork out more money to pay the loan interest for us, in other words they will try harder to complete it on time.
Btw, does anyone know whether the new Penang Transport Master Plan includes the monorail from Airport to Tanjung Tokong again? If yes, it will be a great news for FV buyers.

@1957

I haven’t signed yet, so not sure. But should be in SPA kua. SPA should cover everything since it is the “Agreement”. Everything that is agreed by developer and purchasers should be included there. Someone told me Sathu Residence DIBS mentioned in SPA, so should be the same. Make sure you ask your sales and banker.

Project with DIBS normally has prices marked up, no free lunch here. Most of the recent launches in Penang come with DIBS, just to attract buyers since it makes everybody think these projects are low risk. In property investment, it is all about risk and return.

@1957

If not mistaken SnP stated developer subsidy interest till VP. At the same time OCBC offer letter stated that must instalment 37 months from date of offer letter. They somehow clash. If you signed OCBC months earlier then die. No black and white stating the last few months of interest how to pay or how to claim back. All only verbal. Better don’t take OCBC to avoid unnecessary trouble.

@MVP

I thought normally after 3 years all banks will start collecting installment. They won’t wait until fully completed kua. If developer bankrupt, they will be in trouble especially those with DIBS. You can opt to start installment early, but cannot more than 3 years i think.

Anyway, I will sign the SnP only when they almost complete the pilling.

@MVP
Thanks for the valuable advices. I also think OCBC loan is tricky.

@wbk
I think most of the banks should start installment 36 months from 1st drawn out by developer (or upon VP), not the date on offer letter.

How about other banks’ term on this for FV loan?

@1957

I think you are right, my previous housing loan stated 36 months from 1st drawdown. I just signed up with OCBC last week, my banker just mentioned that the letter offer date will be amended to follow the legal agreement date.

Most of the SnP already stamped in March, if they really delayed in handing over, Ideal will have to compensate to those buyers. If you sign from April onwards, should be no difference kua.

@wbk

why don’t u wait for Ideal stamp the SnP first then only sign the offer letter from OCBC? that is safer & more secure lah.

@1957

After accepting the offer letter, the lawyer will start preparing the legal agreement. Without taking any bank loan, I think Ideal won’t prepare anything for you to sign and stamp by the lawyer kua. Unless you tell them you are paying cash progressively. But then the IRB will come after you. The other risk for not signing the bank loan offer at this point is the bank quota. Once the bank quota is full, you have no choice but to apply loan from other banks. HSBC full long time ago for FV. HLB also will be full very soon. Not sure about OCBC and Public Bank.

I will try to wait until the very last minute to sign the legal agreement, just to be safer for a few more weeks.

I really want to sign only when they start pilling.

@1957

Letter of offer not sign yet they won’t let you sign SnP

I saw they already start to cleaning the site…. Probably next will be the piling…

They said pilling will be completed by May/June wor. After that I think the first drawdown from bank will start to tick liao…

Should be la because the Dua Villa completed already.
My colleague just got VP and going to collect key already.

Wah. Dua Villa also can get key already ah? I went into their emptied house two weeks ago to check out, quite spacious.

just curious… how much is the dua villa when first launch?

Near to RM700K but the price is higher than Sathu Terraces and smaller land size. Do have Dua Villa page on this website

http://www.penangpropertytalk.com/2010/12/dua-villas-one-residence/

Noticed that the whole block of Tower 3 is released for booking, few weeks ago they reserved units 3A and 5 (pool and lake view). I think they might be feeling the pressure from The Clovers lor, which has extremely low initial commitment and good take up rate within a week of soft launch.

Tower 3 units 3A, 5, 6 still have plenty of choices. But for those facing lake and swimming pool are asking for 600k for 1400sft units. So far 7-8 units already been booked.

Let’s see who is the better seller. Hehe…

Dear potential buyer of Clovers / Fiera Vista,

B4 all of us get too indulged into these new properties in Sg Ara, please take a look at the appeal of the neighborhood concern on the future hill slope project nearby.
It will affect you one way or another IF it get to go ahead. It can even caused safety issue, traffic jam and even drop the value of your future properties!

Give your comment on the topic in this blog “Sg Ara folk against hillside project”. Make our stand to be heard by the Govt and MPPP.

@layman

The other approach is to setup a facebook page and ask all our friends to like lar. That is more effective. But please don’t involve political party lar. Last time your protest seem to be hijacked by a politician. Hehe…

any idea water pumps is located at which floor?

@CT

Should be at ground floor kua. Only 16 floors. I think the pumps will be located at Tower 1, since closer to swimming pool.

any concern about where’s the pump locate..?
any idea when’ll know the carpark loc…?

A bit of noise if your units are too close to the pump room. Normally they turn on during daytime for the swimming pool. And shutdown at night. Do complain to the management if too noisy.

Car park will be ballot when vacant possession is near.

anyone go to site visit? are they start to install the piping?

@CS
Was there 2 wks ago but di dnot see any work just so holes dug only.

I saw the land cleared and signboard up already lar. Cannot see the main contractor name on the signboard, but I think shoud be Paramount kua, since they already finished sathu and dua.

I remember the sales girl mentioned that the pilling starts May 15, which is two days ago. Yet to confirm on this lar…