Legend International Water Homes,
Kuala Lumpur, Malaysia
Payment Plan with mortgage
Reservation Fee: £1,000 refunded when 30% deposit is paid
Deposit: 30% due within 21 days of signing the Preliminary Sales Contract (or 30 days from the date of Reservation)
1st Payment: 10% due on or before June 2008
Balance: 60% mortgage (Within 90 days from the date of signing of the Sale and Purchase Agreement)
Payment Plan without mortgage
Reservation Fee: £1,000 refunded when 30% deposit is paid
Deposit: 30% due within 21 days of signing the Preliminary Sales Contract (or 30 days from the date of Reservation)
1st Payment: 20% due in June 2008
2nd Payment: 20% due in October 2008
3rd Payment: 20% due in December 2008
4th Payment: 10% due in February 2009
Outgoings
Payments made to developer - service charges & sinking funds
| Type | Built up (sq ft) |
Monthly maintenance at Rm 0-25 p.s.f. |
Monthly sinking funds (20% of maintenance) |
Total |
| AA | 826 | Rm 207 | Rm 41 | Rm 248 |
| B | 1040 | Rm 260 | Rm 52 | Rm 312 |
| C (L) | 1291 | Rm 323 | Rm 65 | Rm 388 |
| C (U) | 1312 | Rm 328 | Rm 66 | Rm 394 |
| D (L) | 874 | Rm 219 | Rm 44 | Rm 263 |
| D (U) | 897 | Rm 224 | Rm 45 | Rm 269 |
| E(L) | 1291 | Rm 323 | Rm 65 | Rm 388 |
| E(U) | 1312 | Rm 328 | Rm 66 | Rm 394 |
The buyer pays the service charges on a quarterly basis.
The buyer pays a security deposit which is equivalent to 2 months service charges
Payments made to local authorities and utility companies
| Items | Payment Made to | Estimated amount (Ringgit – Rm) |
| Land tax/quit rent | Land Office | 50 per annum |
| Council tax / assessment | Local authority | 500 to 700 per annum* |
| Insurance (building structure) | Insurance company | 250 to 400 per annum* |
| Water Deposit | Utility company | 250 (refundable)** |
| Electricity Deposit | Utility company | 250 (refundable)** |
| Sewerage charges | Provider of Services | 20 per month |
* depends upon the built up areas of the unit; the larger the higher the premium.
** the security deposit of Rm500 is refundable to the Purchaser in the event that Parcel is disposed of in the future.
Insurance contribution is for the coverage for building structure against all kind of damage caused by tsunami, earthquake, typhoon, etc: 6.77 Ringgit (Rm) to £1 as at 10th December
Taxes
Capital Gains Tax was suspended form 1st April 2007 for all individuals.
Stamp Duty
| Amount / Value (RM) | Stamp duty payable to government (Inland Revenue) |
| First 100,000 | 1% |
| Next 400,000 | 2% |
| Next 500,000 - 2,000,000 | 3% |
| Example : for Type AA RM620,000 , so the | ||
| First 100,000 | @1% | 1,000 |
| Next 400,000 | @2% | 8,000 |
| Next 500,000 - 2,000,000 | @3% | 3,600 |
| Total 620,000 | 12,600 RM (total stamp duty payable) | |
The stamp duty is payable a few months after project completion. It is usually paid via the purchaser's solicitors, Ms Quah and Yeap (Advocates and Solicitors)
Legal Fees
The legal fees are RM2,000-00 (or approx. 300 pounds) and they are payable to the Purchaser's solicitor upon signing the Sale and Purchase Agreement. The costs also cover the fees for the Deed of Agreement on rental payment.
You can find most of the main pages of this site by clicking on the links on the right.
