All residential stratified properties are now categorised as “Goods and Services Tax (GST) exempt supply”, said National Home Buyers Association (HBA) secretary-general Chang Kim Loong.

Previously, only low-cost and low-medium cost properties were granted such exemption.

Being categorised as “GST exempt supply” would mean that fees charged by a management corporation (MC) or joint management body (JMB) for maintenance and management, including a sinking fund, will be exempted from GST.

Chang said a petition was sent to the Finance Ministry on Nov 28 last year, appealing to the government to amend the GST Act 2014 to enable a GST zero-rated tax supply for maintenance charges, sinking fund and all forms of related contributions or charges payable by property owners.

The petition was undersigned by HBA; the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia; Royal Institution of Surveyors Malaysia; and Malaysian Institute of Professional Property Managers, representing six million property owners and occupiers of approximately 15,000 stratified development areas in Peninsular Malaysia.

“From the reply we received from the tax division secretary of the ministry, Datuk Siti Halimah Ismail on Jan 15, it was stated that the appeal for GST zero-rated tax supply cannot be considered for the services rendered by MCs and JMBs to residential parcel owners of stratified properties because the supplies provided by them are deemed as conducting a form of business.”

“However, the ministry is agreeable to widen its GST exempt supply by including all categories of residential stratified properties,” he told a press conference yesterday.

Chang added that amendments will now be made to Paragraph 20, Second Schedule, of the Goods and Services Tax (Exempt Supply) Order 2014.

He pointed out that any fees charged to stratified buildings or parcels that is used for purposes other than residential will still be subjected to GST standard rated tax.

Source: TheSunDaily

Sunrich Place, a freehold mixed development by GSD Land in Tasek Gelugor, Northern Seberang Perai. It is located next to the intersection of Jalan Gelugor and Jalan Arumugam Pillai, about 5 minutes drive from Sungai Dua.

This development comprises a mixed of commercial and landed residential units:

Residential:

• 2-storey terrace (27 units)
• 2-storey semi-detached (22 units)
• 2-storey bungalow (5 units)

Commercial:

• 2-storey bazzar (1 unit)
• 2-storey shop office (23 units)
• 3-storey shop office (14 units)
• 2-storey semi-detached shop office (2)

Project Name: Sunrich Place
Location: Tasek Gelugor, Penang
Property Type: Mixed development
Indicative Price: (to be confirmed)
Developer: GSD Land

Location Map:

Granito @ Permai, an affordable housing development by BSG Property in Tanjung Bungah, Penang. It is strategically located next to TAR College, adjacent to 2 Permai luxury residential scheme.

This development featuring a 50-storey building with two residential towers and 12 levels of car park. There are 980 units of affordable homes featuring a built-up area of 864 sq.ft. with three bedrooms. It also comes with full-fledged lifestyle facilities such as swimming pool, gymnasium, library, outdoor and indoor play area, lounge and a landscaped garden.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name : Granito @ Permai
Location : Tanjung Bungah, Penang
Property Type : Affordable housing
Total Units : 980
Built-up Area: 864 sq.ft.
Land Tenure: Freehold
Indicative Price : RM400,000
Developer : BSG Property

Location Map:

SITE PROGRESS

SITE PROGRESS: Granito @ Permai (Oct 2023) – Completed

SITE PROGRESS: Granito @ Permai (Feb 2023)

SITE PROGRESS: Granito @ Permai (Oct 2022)

SITE PROGRESS: Granito @ Permai (May 2021)

SITE PROGRESS: Granito @ Permai (Dec 2020)

Which were the most popular properties in December 2014? With indicative price starting from RM198,000 up to RM1,000,000 (estimated) – here are the most viewed properties published at PenangPropertyTalk.com:

1. The Tamarind
2. Setia Sky Vista
3. Fiera Vista
4. Skycube Residence
5. BM City
6. Imperial Residences
7. One Imperial
8. Garden City @ Raja Uda
9. Ramah Pavilion
10. The Clovers

As usual, properties priced between RM500,000 – RM800,000 continued to dominate the top 10 list. 7 out of 10 projects were located in the South West district, within the township of Sungai Ara and Relau.

Stay tuned for the next statistics in first week of February.

* Projects are ranked based on the actual number of clicks & views in Google Analytic web traffic report for PenangPropertyTalk.com.

Ready for Korean wave: The VIPs, guests and retailers touring Phase Two of Penang Times Square.

The Korean wave will hit Penang when a mini Korean town is set up at the Penang Times Square this year.

Jaebok Holdings Sdn Bhd chairman Lee Jonggi said Phase Two of Penang Times Square would have some 150 retail lots opening up within six months.

“We’re now in discussion with the retailers to showcase the best of Korean food, cosmetics, fashion, accessories and much more,” Lee told a press conference after signing an appointment agreement at the Ivory Tower auditorium at the mall.

Penang Times Square general manager C.C. Yeap said Phase Two would involve four levels and 188 retail lots.

Also present at the mall for the signing of the agreement were state executive councillor Chow Kon Yeow, Ivory Properties Group Berhad executive director Datuk Ooi Chin Loo and Jaebok Holdings chief executive officer Casey Jung.

Some 30 Korean retailers were also present and they were taken on a tour of the mall after the ceremony.

In an unrelated development, Yeap said Level Three of Phase One had been transformed into a Popcity.

“It showcases a ‘shopping zone’ for online bloggers to sell their items and a ‘game zone’ featuring archery combat and inline skating.

“It will also have a ‘chillax zone’ for the public to hang out,” Yeap said.

An opening party will be held today from 11am to 9pm.

The party will also feature a beauty talk and makeover tutorials by some invited celebrities.

Among the celebrities giving beauty tips will be fashion model Daniel Mehr, Miss Malaysia Grand International 2013 Michelle Madeleine Moey, Miss Malaysia Global Queen 2010 Joelle Tan and online fashion model Natelynn Tiow.

Source: StarProperty.my