Cheer for unit owners
THE Penang Municipal Council has decided the reduce the annual property value (APV) for One World and One Sky small office/ home office units by 10%.
Council Financial Management Committee alternate chairman Joseph Ng Soon Siang said the 10% APV reduction had no bearing on the property’s 10.3% annual assessment rate.
“We reviewed only the APV. The 10.3% assessment rate for commercial property stays,” said Ng.
He urged buyers of commercial property to be prepared to pay commercial rates.
“Future buyers should know what property they are buying so they can know the category of their assessment,” he told reporters after the full council meeting at City Hall yesterday.
He said One World and One Sky residents were told at the dialogue session between the council and the residents committee on April 11 that the council’s decision would be final.
Owners of the 538 units in Bayan Baru, Penang, had been disputing the APV determined earlier by the council.
They had claimed that the APV was very high compared to that of some other commercial units in the municipality.
Citing the example of a commercial centre in Bukit Jambul, spokesman Brandon Oon said the APV there was just RM3,100 for a 730sq ft unit.
This was lower compared to theirs which was between RM22,800 and RM28,000 for units from 1,160sq ft to 1,450sq ft in size.
Oon said owners were willing to pay the assessment rates but felt that the APV was unjustified.
In another development at the council meeting, the fine for owners of dogs without a licence or a collar that had bitten or caused harm to others has been set at RM250 under the (Dogs) Penang Municipal Council 1977 by-law.
On another matter, councillor Tan Hooi Peng suggested that they come up with guidelines to care for trees by using the Tree Risk Assessment Form and Tree Management Form and come up with a Tree Care Report.
“This will allow the Village Security and Development Committee to oversee the well-being of trees in their area.
“The committee can report on any decaying trees or trees that need looking after,” he said.
Souce: StarProperty.my
Cheer!!!!!
almost nothing…….
Not much savings only. 10% reduction on APV only. But better than none.
ok what?!!
Well, 10%, 5% 1% that’s not the main point. The main thing that MPPP wants you guys to remember is, don’t simply buy. You have to know what you buy. Like don’t simply poke your c*ck everywhere, when you get STD or someone got pregnant, it’s your own responsibility. Don’t blame others.
One voice…. you got the courtesy of MPPP for 10% reduction.
Good job MPPP!
10% discount is quite reasonable.
ok habis cerita, one world one sky owner pls diam diam n pay… lol
What about elite heights? Will the assessment be the same ?
elite ah, makan sendiri.
Not only good job, MPPP is doing outstanding job. Imaging 538 units charge RM2000, it is equal to RM1.076 million extra income for state government, with MPPP only providing send 2 rubbish car collecting rubbish everyday. Beside that this, what service still can MPPP provide? Their big boss sure happy, at the end give more few months year end bonus to MPPP staffs. MPPP staff are celebrating now for their excellent formula calculation!!!!
U sure want them to diam lah, else how ur boss give u extra few months bonus for ur excellent job. Suntech charge RM1k, CxO charge RM500, now this project u charge RM2000, u want try to blur the public with ur very assessment complexity formula, no way!!!
@Hoo
Suntech, CxO and other commercial unit owners will not be happy with what is going on in OWOS now because it sets a new benchmark and when time comes, their rate won’t be too far off from OWOS. Nobody wins. In the end, consumer will have to pay more for their daily needs if business cost is increased due to this new assessment rate. For those who are condemning OWOS, don’t be too happy because all this cost will come back to us one day.
Yes, not have any house owner win, the big winner is only MPPP and state government. Imagine that you bought the house for own stay and not rent out, you must pay RM200 (MPPP) + RM200 (Maintenance fee) every month. If you pay RM200 for maintenance fee, you still can enjoy the facilities – security guard, gym, swimming pool, etc. But you pay RM200 to MPPP, what is the service they provide??? Blindly earn the income without doing any thing? This is state government need to think before simply let their staff come out the amount charge.
This should not valid reason for state government to increase the state income, although the financial report income will look very nice, but you will start losing the support from residents when using the dirty strategic way using to increase the income. You will realize when the election day come…
There are tons of residential title new condo flood all over the street. Don’t want paid just sell of with decent profit and move on. Look for solution or other way instead of kept complaining. Enought of buy of own stay excuse……only one world can stay ah..other condo can’t stay ah.
Agreed with David. Commercial title u already know hewn unsigned snp. Don’t complaint when it is expensive with the fee.
David & MPPP staff, both of u sure not understand the real situation. If u using the same formula calculation in CxO and Suntech, the assessment fee for 1 world& 1sky sure below RM1000. But now the real case is over RM2000+, that’s mean MPPP have 2 formula for same type of building, this is buXXshit!!! somemore CxO and Suntech is fully 100% commercial office building. Nobody will free to complaint it is expensive if it is using same formula calculation!!!! You cannot hide anything, it is fact.
If government staff doing a mistake, we should point to them and correct them. How come when facing a problem, just escape from it. This kind “Don’t want paid just sell of..” seems like the attitude from party MxA, haha..any problem sure escape or keep quite.
Hoo, just ask Oon to start the legal process and sue MPPP ASAP. More support rally will come. These suckers & loosers just can’t wait to see people suffers, even most of you are not flippers.
Disclaimers: I don’t own OWOS, but I think it’s not fair as the public was not educated or told about this high charges before. And I believe MPPP was having the plots sketched when they approved the developments in earlier days, which include OWOS, Maritime, Arena, Elit, Penang Time Square & Summerton. They were in the same beds with the developers.
@PPP yes I already know about commercial title . Pls don keep repeating coz I really really already knew about Elit height title before buying. What I want to know is why the formula is so much different for projects in the same area. Yes I also understand that there will be review for other projects as well but it will trigger same questions for them too. Maybe all including you should work together to resist just like what happened in kuala lumpur
halo… do u know how big is CEO suite? How big is Suntec suite? n how big big is ur OWOS? if shrink down ur OWOS size to half, the assestment will be 500-1k loh… dont u know the bigger the size ,the bigger the revenue / earning ur OWOS can make (if u use that for business)… dont always say self use got exception, law is law, SOHO is SOHO
This @MPPP yesterday asked people to compared Suntech AVP before make huha…. Now 180 degree change said don’t compared apple to orange…. really don’t know what is his point….:) So now which one should the OWOS owners use as reference???
even with the higher rate it is still cheaper for 1W residents, let’s compare 1W 1450sq “Suite” vs 1450 Reflection 3 years ago.
Price for 1W = 350K , Reflection=500K
Reflection is more expansive by 150K
Annual Assessment Rate put at
1W=2000, Reflection=400
1W is more expansive by 1600 per year
No of years it takes for 1W to be “More expensive” than reflection = 150K/1600 = 93years.
By then i think most 1W owners will be out of this world and the lease will also expired.
finally some real calculation.
But Reflection is different std, residential, quality.
That scenario cannot just look at ending but the whole spectrum of the life span graph. Eg. 20, 40 & 60 years from now. the value would be different.
Ya reflections condo location is more inferior. The rental is not high as 1world because 1world is right in the township so valuation is higher.
@Ah Pek
Compare launching price for both la.
Ah Pek, the calculation that u means if for investor, it call investment return. if for buyer just buy for own stay, it call nothing. But for sure, it is totally no relevant to how it come out the assessment fee.
@Hoo
the point is if the property is too cheap to be true, then there will be a catch somewhere, bet the developer knew this from day1 and price its property below market value with DIBS and a very good location.
anyway, for own stay a for a 350K 1W, loan at 90% with 30 years repayment at 4.2% = RM1540 per month.
for a 500K property 90% loan 30 years = RM2200 per month.
1W buyer saves around RM660 per month, even after pay assessment to MPPP at RM200, they still have RM460.
@Ah Pek
the property price is depend on the who is the project developer, what material it provide, location, lease hold or free hold. It is cheaper because it is lease hold, cheaper building material and poor reputation developer. SP-Setia and Mahsing always the highest price pioneer developer in penang as because of their good reputation. U go to check what brick and tile they provide to the buyer and the quality of work. If SP-Setia is the developer build 1W and the land is free hold, they will selling is 500k or even higher. If this case and use ur calculation, the assessment charge of 1W build by SP Setia should be RM400? haha… the MPPP will get crazy as they need always compare every project, if any project is cheaper, MPPP will increase assessment fee few times to balance back, no more investor come to penang, haha.
@Hoo
now pointing cursing MPPP, look to the bright side, SPICE is up soon, there may lots of conference, 1W may be ideal to be a good SUITE hotel. Rent at RM200 per day. One month 10 days taken, you already have RM2000. Better than monthly rental. Peak period like december you may nett up to RM6000 per month. nobody have a right to stop you,
U are out of topics again, we are focus discuss on how and why different formula calculation in from MPPP and unfair thing happen. I am not cursing them, I am pointing their mistake and correct it. If u are always have the mindset accept it and look at the bright side, the problem will grow and grow bigger, unfair thing will repeat again coming future.