Bandar Rimbayu Phase 1 Chimes Preview
With property prices on the upward trend for the past few years in central areas such as Damansara, Petaling Jaya, Shah Alam, Cheras and even Puchong, one wonders where will be the next property hotspot will be. In recent years, there are quite a number of property developers purchasing large tract of lands in the Greater Klang Valley. UEM bought a few hundred acres of land in Bangi (2010), Mah Sing in Rawang and Bangi, SP Setia in Semenyih (over 600 acres), BCB Berhad in Kota Kemuning (150 acres) and the most recent land deal is by Dijaya, where the land (over 1,100 acres) is located next to IJM’s Bandar Rimbayu (1,800 acres).
The all-time high property prices shown from the primary market (new launches) and secondary market (subsales) have pushed these developers into greenfield developments. In addition, the large size of these purchase considerations will enable these developers to design and build a liveable, green and integrated township developments according to today’s market demand and purchasers’ lifestyles. In addition, these new developments will be launched with a fraction of price currently being asked for a similar product say in Damansara. This brings the spotlight to IJM’s Bandar Rimbayu township development in the District of Kuala Langat (in between Shah Alam, Puchong and Banting). Bandar Rimbayu definitely will be able to offer a well planned, integrated and liveable township based on our initial findings.
Prior to renaming it as Bandar Rimbayu, the area concerned is better known as Canal City. This 4,000-acre Canal City development, like its namesake functions as a flood control for Kuala Lumpur with a series of canals and lakes to be built in addition to the deepening of the Langat River to receive more flood waters from the Klang River. IJM together with Talam formed a Special Purpose Vehicle (SPV), Radiant Pillar Sdn Bhd with a 50:50 shareholding (update: as of August 2013, IJM have increased its shareholding to 60%) and was awarded with the contract to develop about 1,900-acre of Canal City.
In March 2013, IJM held a successful balloting for the first phase of Bandar Rimbayu known as Chimes where all non-bumi allocations have been snapped up. Up till today, the sales rate of Chimes have achieved 58% with the remaining units being bumi quota units (update: as of end of June 2013, sales rate have achieved 75% with the release of bumi lots). Chimes consists of 22 X 75 and 24 X 75 plots of double-storey terraced houses with green building features such as solar water heating and rain harvesting systems. A total of 526 units are on offer with the lot size 24 X 75 having a built up of 2,322 sf (intermediate lots) and 2,765 sf to 2,890 sf (corner/end/angular lots). The lot size 22 X 75 have built up area of 2,179 sf (intermediate lots) and 2,603 sf to 2,708 sf (corner/end/angular lots).
The selling prices for 24 X 75 (intermediate lots) range from RM597,800 to RM689,800 whilst end/corner/angular lots are going for RM896,800 to RM1,041,800 with land area ranging from 3,100 sf onwards. For the type 22 X 75 (intermediate lots) the selling prices range from RM577,800 to RM632,800 and end/corner/angular lots are being launched at RM860,800 to RM1,032,800 with land area from 2,950 sf onwards. These prices were as of March 2013.
With prices ranging from RM577,800 onwards, the maiden phase 1 Chimes of Bandar Rimbayu offers new home buyers an opportunity to own a landed double-storey house and still within commuting distance to Kuala Lumpur.
Proceed to read our detailed preview and analysis of Chimes in Bandar Rimbayu here
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