Taman Tasik Puchong: Venezia
By now, most people would know of someone who has bought a place in this area – it’s actually in Sepang district, but it commonly perceived to be part of the larger and slightly more developed Puchong. Generally, the area is to the east of the LDP (Damansara-Puchong Expressway), between Maju Jaya in Puchong Utama to the last toll enroute to Seri Kembangan / Putrajaya.
In the last few years, there have been many projects sprouting up in this area, some on the ex-mining land, the luckier ones are not. Nearer to the highway are Taman Tasik Prima, Taman Impiana Puchong, Taman Putra Prima Puchong (confused yet?) and Tekali Puchong (the nearer ones are still in Puchong district). Further in, you’ll find part of Bandar Bukit Puchong 2, Meranti Jaya, and this Taman Tasik Puchong, which we will be reviewing here. Further in the road will lead you to the older Putra Perdana, Amanputra and the much talked about Nusaputra (you can read about the fuss here, here and here).
To get here, you have to turn off at the landmark George Kent, and you’ll see the development on the left, just after a row of shoplots under construction. The plot of land isn’t big, there are small hills at two sides with existing power lines running across. On another side are some existing light industrial lots. Directly in front is Taman Meranti Jaya.
The first phase to be launched in this project are a few rows named Venezia. It’s a small 20’ x 60’ linkhome with a very small 1,308sq.ft build up. We’re thinking they might go for bigger built-up units for the later phases, this one is just too small for most Malaysian families. Bachelor pad and student renters, maybe, but at this location and with no public transport to speak of, this might be a hard sell. The porch is hard to fit two sedan cars, and the living is stifling tight. There is a semi-open yard / wet kitchen, and a larger than usual backyard. We’re betting 9 out 10 buyers will renovate the back of the house.
Finishes and specs are standard. Again, let’s hope the next phase they’ll incorporate some changes in these aspects.
For a leasehold property and such a small plot and build-up, they are selling it quite expensive, given that this isn’t a prime location. Prices start from RM250k, although they are giving some discounts at the moment.
The developer is touting the 24-hour security feature as a selling point, and they are also offering some upgrade packages for buyers. With so many competitors in the area, we weren’t impressed. There’s also the power lines back there.
LBS have been in property development for about 10 years or so and have developments all over the country. Some of projects are Bandar Saujana Putra, Kota Perdana, Bandar Putra Indah (Johor) and Casa Tropicana.
| Project Name | Taman Tasik Puchong: Venezia |
| Location | Puchong |
| Description | Double-storey linkhouse in small development |
| Land type | Leasehold |
| Land Encumbrances | Nil |
| Price | RM189,800 onwards |
| Lot size | 20’ x 60’ |
| Build-up size | 1,308sq.ft |
| No of units | 412 (for the entire development) |
| Launch Date | now available |
| Expected Completion | July 2008 |
| Developer | Azam Perspektif Sdn. Bhd. (subsidiary of LBS Bina Group Bhd.) |
| JV Partners | Setiausaha Kerajaan Selangor (Perbadanan) Permodalan Negeri Selangor Bhd. |
| Contact | 03 – 2282 1088 |
| Website | www.lbs.com.my |
| Marketing by | Property Link |
Property developers are making too much profits/easy money in the last 15 years without doing much homework. The market condition is getting tougher and buyers are getting smarter. I won’t be surprised if some of property developers go bust in the near future. I have noticed that the secondary markets are dropping by 10 to 20 percent in the last 12 months. At the same time, property developers are trying to price their products at a higher price with a smaller unit. I hope the current economic slowdown will teach them a good lesson just like the recession in the mid-80s. Taman Tasik Puchong is certainly way overprice. Furthermore, reputation for LBS is as bad as Larut and Talam.
Comment by LeBron — August 10, 2006 @ 9:33 pm
I’d visited the showroom 2 weeks ago, it looks good with its interior design. However, the price is not RM250,900 to RM352,900. Is only RM 189,800!! So, I ain’t sure which is right, which is wrong. But i believe is not that expensive, affordable la.
Comment by Jo Wong — August 25, 2006 @ 5:40 pm
According to a close friend who is in real estate business, a leasehold property is generally prized 15% below the freehold assuming every other things is the same. For the prize of RM189,800 on a leasehold property is equivalent to a prize of RM218,000 on a freehold property. I would consider expensive for the location there.
Comment by LeBron — August 28, 2006 @ 10:31 am
well, nowadays, ppl dont judge on the value of the property based on whether its a free or lease hold anymore.. not much of a significant factor anymore compare to, lets say 10 years ago… wat counts are the good features included in the particular project and the surrounding development that will enable boost on the value later on.
a point to ponder, not all freeholds are able to fetch high price just coz its a freehold, rite?
oh, pls get ur facts straight… the price on ur facts sheet is inaccurate… its RM189,800 onwards…
Comment by e.c — September 5, 2006 @ 12:17 am
Why are you so protective on LBS. Are you someone working in the company. It’s find with me if you don’t accept my opinion. Indeed, I got nothing to loose. It’s your investment decision. If you make money, I don’t get a single sen.
Comment by LeBron — September 8, 2006 @ 11:29 pm
Actually I think it is a fair price. Just LBS is as good as Talam.
Comment by SmallSiput — September 9, 2006 @ 8:49 pm
Anyway, some chineses might buy it because there is a chinese school just in walking distance, in future they children can be more easier to get into this chinese school, otherwise, they have to worry their children might be allocated to old klang road chinese school or others school don’t even know where is the location.
Comment by cyc — September 10, 2006 @ 6:22 pm
Saw the site. Not as Bad if can get it at lower rate unit like around 200k. Good for small family… Not for those who intend to raise a family of 5~6 ppl. But nearby area has better buy I think… just smalltime developer.
Comment by BD — September 13, 2006 @ 12:43 am
I’m thinking to buy but worry about whether the project will complete in time or not, otherwise it will make us difficult because we’re from medium low income ppl. Any advise, thank you.
Comment by Mimie — November 15, 2006 @ 4:32 pm
i think that’s a risk you’ve to take esp if the developer doesn’t have a track record. what are the other developments that you are considering?
Comment by Administrator — November 15, 2006 @ 5:08 pm
We actually just brought a unit there. Actually we actually do a lot of survey only made this decision. It is very suitable for small family. Some more first house u own not always the only house u will buy in ur life. Buy it or not always there are some risks there. Just let God decide.
Comment by Jas — October 7, 2007 @ 8:57 am
Most of the property in Puchong area is overpriced.Now a day, there is no way you can brought a landed property in puchong with RM200++.Problem to investors as you need to hold those properties longer than u thought in order to make some money or you may facing the problem to sub sales it at below market price.
Comment by bhg — November 2, 2007 @ 11:05 am