Affordable Housing @ The Zen
The Zen, the latest mixed development by Asia Green at Bayan Mutiara. Strategically located next to Tun Dr. Lim Chong Eu Expressway, just a short drive away from Penang World City integrated development by Tropicana Ivory. This development comprises around 2,000 condominium units in two 46-storey residential towers, 1,200 units of which are categorized under affordable housing. There are also several shop offices located at the first and second level.
The affordable units has a standard built-up size of 850 sq.ft. with 3 bedrooms and 1 car parking lot. It also comes with full facilities with swimming pool, 180 viewing sky deck overlooking the seaview and bridge, jacuzzi, children playgound, gym and many more!
(Actual site – Nov 2017)
Register your interest here
READ MORE ABOUT AFFORDABLE HOUSING:
- Eligibility and the requirement of buying affordable housing
- Full list of affordable housing in Penang
Project Name : The Zen
Location : Bayan Mutiara, Penang
Property Type : Mixed development
Built-up Area: 850 sq.ft. onwards (residential)
Total Units: 1,200 (Tower A), 730 (Tower B), 86 (Shop offices)
Indicative Price : RM300,000 onwards
Developer: Asia Green
Location Map:
@ES
which mean previously when apply for affordable unit, we cannot choose either want 2 cp or 1 cp package ?
@JJ
Ya only submit the affordable house form and wait for news, i submitted At July 2018 now only received the Msg from asia green. i think not much nice unit left for me
@MK
Mk, please share if they willing to share the latest selling progress.
Previously the developer said is first quarter of 2023, or earliest on 4th quarter of 2022.
@john
John, which level u choose ? Mine is level 31
Anyone here know that any seaview 2cp left for affordable unit ?
Downpayment must be 10% pay before balloting ?
Agree with u. Affordable sea view unit just open from level 9 to 14 only if not mistaken. Can’t expect much for the view…@MK
@JJ
As yesterday info, no more OP unit, only affordable available. Those interested still can walk in their office to fill in PN1.
@Aa
Previously we choosing OP unit, they mention 24 floor (sea view) and below is keep for affordable. 1-8 floor as car park and some facility.
@JJ
Mine is 41 level
@john
sorry is level 41.
@JJ
@john
Both of you are public or affordable units?
@MK
Mean that level 15 to 24 also open for public?
So fast public units sold out?
-500public units sold out?
@B
mine is public unit.
Hi there… would like to check what is the terms & conditions for affordable application, as i understand it can’t be sold within 5 years of the date of possession.
After 5 years can sell to public or need to get consent from state gov and only can sell to affordable scheme applicants?
receive call from the panel lawyer to sign the S&P, although for my case it is pre-approved. This is weird, thought S&P should be signed only when loan etc alr settled. Anyone could shed some lights on this?
@lostsoul
Which lawyer you appoint? can recommend?
@SO
Affordable housing purchased can not be sold for 5 years. Those who wish to sell during the first 5 years must appeal to the state government and can only be sold to “listed buyers”.
after 5 year should no limitation… but looks YB Jagdeep Singh want change it soonly…
@kth
You can request sign the SPA (S&P) and Loan Agreement together.
@B
My understanding sea view for 25 to 47 floor as OP unit. if not mistaken normally Gov’t. will allow 30% of total units (400 of 1200 for this case)??
as info from AG staff on 23/April no more OP unit left. IDK if any exceptional case?
Any one appoint lawyer aside from the panel lawyer for affordable units?
How much is the lawyer fee and any lawyer to recommend?
@MK
Thanks for the clarifications.
@B
Public unit
hi. for those getting 2 car park under affordable units, need to ballot for car park lot? does it come with side by side?
During my balloting.. sea view affordable unit just open from 9 to level 14.. quite low.. sad..
@MK
Public unit consider affordable unit?
@JJ
You mean the restriction to resell? Yes
OP (PN4) and Normal affordable (PN1) diff conditions in application, and normally OP have to pay 10%-20% and more depend district.
State Gov will only restrict on resell period not on the price right?
@Aa
You should satisfy, can get the sea view with 375k purchased. haha
@Aa
9-14 consider not low and OK liao. in front only some bungalows. in future don’t know.
My banker told me there are many peoples in waiting list to book the unit, now price up 30k ?? so high demand ?? haha!
For open units, which bank did u all applied for loan? I was told that we only have 5 options of banks – CIMB, Affin, HLBB, MBB or RHB?
@john & JJ
Oic.
All,
You all signed PMC1 form?
What is PMC1 Form? Don’t have idea on it.
JJ and all of you who bought The Zen signed this PMC1 form?
Basically need approval from state government to sale your property and state government charge 0.1% if not mistaken.
http://ptg.penang.gov.my/borang/borangpmc1.pdf
@Aa
U r so lucky can get Seaview and 2cp unit!
@ML
And PBB,
Someone get lower rate, see page 1.
Hi any group wassap can invite.
So far no, you create one we all join
Which floor did u all buy and which floor parking?
http://ptg.penang.gov.my/borang/borangpmc1.pdf
No one signed this PMC1 form?
Or not realize got signed PMC1 while signed SPA? ☺
Hope this not too late to reply to u, I’m engage The Chamber of Chong & You.
Today get called from my lawyer, govt still not firm on the 2019 Jan-June loan agreement stampduty exemption for affordable buyer. Seems like high chances we need to pay the LA stamp duty. Thanks to our LGE which implement the rubbish policy whereby HOC is not applicable for affordable buyer but is benefit developer.
Does unit still available?
Hi, I heard that some affordable homes, government will help to pay some of the down-payment. Is it true? For The Zen case is different?
@lostsoul
Thanks. =)
@B
PBB can for open unit? I wanted to apply PBB but was told its only available for public units.
open unit and public unit means the same thing.
Anyone was get back SPA copy from Lawyer firm?
Not yet receive the signed Snp from lawyer. Do you have any updates from lawyer side?
Pre approved can sign for SPA already or need to wait for official letter still?
Maybank announcement br -0.20%
@kth
Same case here. Guess they are lining us up as back up for units which are leftover , by holding the 10% downpayment
Open unit or affordable unit?
@Leo
Affordable unit. You too? Mine is still under pre-approved.
Me too but not manage to get the seaview unit… Pre-approved so fast need to sign the SPA?
Same. Mine leaving contact? Im not sure how we can contact each other without leaving a contact publicly.
Yea is good if somebody willing to create a group via whatapp or wechat
Then we can share more info there
Leo, could share details further via email if you want to? My email celestial01@gmail.com
now BR drop according to different bank own announcement. no point comparing already.
I took full flexi loan for better interest saving for long run.
how much ? 200K?
@john
@john
how much
No more open unit and No more Seaview 2 car park rm375k for affordable, sad.
This was told on 1 May 2019 by their staff. When we went ballots
Yesterday get called from my lawyer, govt still not firm on the 2019 Jan-June loan agreement stampduty exemption for affordable buyer. Seems like high chances we need to pay the LA stamp duty. Thanks to our LGE which implement the rubbish policy whereby HOC is not applicable for affordable buyer but is benefit developer.
the moderator in this forum keep hide my comment. shame on the moderator
went to the office to check it out and was informed that only 1cp available, no rebate or free legal fees for affordable, everything have to pay by self and also have to start paying loan interest until 2023, no waiver.
Hi, for public unit buyer, have you all receive back the SNP after signed it?
@JJ
JJ, I have contacted Lio& Partners, tomorrow I going to take back SPA copy, but LA still pending…
Hi Mk, may i know what is LA? I am still pending to collect back the SNP, due to developer haven’t pay lawyer to perform the stampingM. How long have waited to collect back the snp?
Loan amount: Rm300,000
Tenure: 27 years
Rate: BR+0.30% (4.18%)
Is this ok
Loan amount: Rm300,000
Tenure: 27 years
Rate: BR+0.30% (4.18%)
Is this rate ok?
@LHS
Good rate. Mines got 4.27%. Can i know which bank you have this rate?
@JJ
Loan Agreement… they mentioned due to pending on Bank& State Content…
hi guys, I’m buying my first house under the affordable scheme. This is one of my interested projects (town view 850sqft 300k 1cp) along with Tree-O (hill view 900sqft 365k 2cp) and Senzville (although this sold out ady).
Anyone care to comment on which one more suitable for personal stay and potential future market worth ya? I’m planning to stay for approx 5-6 years then upgrade to bigger house when got more money and family.
Also is this area less jam than Sg Ara?
If you can live with 1 CP then The Zen will a better option because less jam and Bayan Mutiara certainly better than Sungai Ara. The only pros for Tree-O is the developer Hunza is more reputable than Asia Green and 2CP. Other than that, I will choose The Zen anytime.
Hi , wish to ask regarding the pre-approved for the Zen affordable house. I been info need to balloting for unit and pay the 10% down payment. And we only can get back the down payment with two condition
1. Loan didn’t been rejected by 3 bank
2. The application with the Penang State government for unit leave doesn’t been approved.
Usually the state government will approve for the leave unit?
***1.Loan been rejected by 3bank
I m also wondering whether the chances to get state government approval high or not..?
@Leo
If all prerequisite are eligible. We can “assuming” the application wouldn’t be reject.
https://www.penangpropertytalk.com/affordable-housing/am-i-eligible-for-affordable-housing/
Hi, I’m in the process of signing loan and SnP.. May I know which lawyer firm u guys appointed n how much it cost?
Hye my unit is at tower 2,level 9, any whatsapp group to join???
Anyone have the info of main door width, corridor width, living hall size?
I’m pre approved too. Not sure when gov will approve but need to pay 10% down payment 1st.
Hi,
Anyone who under pre-approve already get the official letter from Penang government?
S&P can be sign but loan agreement cant be sign due to no government official letter.
I know there are people gotten their official letter for pre-approved units.
Not sure what can be done to expedite the process. Developer office keep saying to wait till bumi lots are released, which can take up to 7 months. Anyone else have info about this?
@JJ
Main door width will be 1.2m x 2.4m
Pre-approve? Whaooo!!! Seems like this AG are hungry for sale, they collecting 10% downpayment not even get approve from government? seems like they are getting affodable buyer money to roll. Goodluck.
Im wondering the pre-approve is given by gov or developer? I believe the pre-approve is from developer, but why you dare to sign SNP b4 gov approval? what if the gov not approve? who is going to bare the legal fee? buyer or seller?
@lostsoul
You get back all copy from lawyer? Including loan agreement?