Elit Heights


Elit Heights @ Bayan City is a new project located in Bayan Baru, Penang. Strategically located with easy access to Bayan Lepas Industrial Area, Penang Bridge and Penang International Airport.

Elit Heights @ Bayan City consists of 3 apartment blocks with a total of 600 resort-style designer suites. Each unit come with built-up area ranging from 1,300 to 1,900 sq.ft.

Project Name : Elit Heights @ Bayan City
Location : Bayan Baru, Penang (Property for sale & rent in Bayan Baru)
Property Type : Apartment (Apartment for sale & rent)
Tenure : Freehold
No. of Blocks : 3
No. of Storeys : 22
Built-up Area : 1,300 - 1,900 sq.ft.
Total Units : 600
Developer : SEAL Properties Sdn Bhd



584 comments:

  1. what kind of land title is it? Residential or Commercial title?

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  2. how bout the pricing?? where is the sales office?

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  3. What is the different between Commercial and Residential title ?

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  4. Its commercial title, which means utilities will be more expensive. Selling at ~300psf, could be reasonable from the title perspective. The sales office is at queensbay, Bay Avenue shop lots, you should not miss it when you are driving your way toward queensbay, from bridge direction

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  5. ok.. probably shud drop by at the sales office and see what package they offering..

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  6. Wah !!! shall go to PISA fair this weekend din know they be there or not??? may be go to have alook....what is the minimum pricing ??

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  7. hey, vely reasonal price at rm300 per sq feet can disregard commercial thing lah!

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  8. seriously i do not mind about commercial title. the utilities are not signaficant. but the big mosque nearby and opposite hospital are definitely the main setback!

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  9. Means minimum RM390K per unit..

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  10. Near mosq, that's mean wake u up 5 times a day !

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  11. Heard Bayan Baru is famous in flood especially when raining season, is the area flood too ?

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  12. Friend, even it flood also won't flood till your apartment la.. this is apartment... not landed... But that area, I dun think will flood. Everytime I saw flood is opposite Sunshine square that housing area..

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  13. any info on the floor plan n pricing?heard completion date is in 2013

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  14. Isit confirm Freehold? When I at the property fair, the sales exec informed me is LEASEHOLD, tats y i walk away!

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  15. I understand from fair is Freehold land, the pricing is RM300 per square feet and expected completion is 2013 i think...they didnt show any floor plan they said will let me know by Q3

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  16. I'm interested....ANymore info?? Who is the developer?? I miss the fair la..

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  17. tan..developer is seal properties and office is in bayan indah, queensbay. tel no: 6415828...

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  18. i am also interested... anybody can get the unit before it is release?

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  19. developer steady anot? will run away with deposit?

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  20. As what i know from fair, they dint receieved any booking fees yet.. At the moment, they jz have registration.. I got ask them to let me had a booking 1st but the Assistant Manager said will let me know whether can book or not when their Preview.. I would like hv a unit, the location is very nice..

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  21. Location is ok, also an added-benefit if the shopping mall does picked up well later. Developer wise, Seal is quite experienced with some proven records in KL, eg. salayang mall, not really first-tier but should not be a disaster. The only concern is the commercial title, personally i would really mind to pay higher utilities bill in this case. If looking for rental return, potential tenants may think of the same way.

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  22. commercial title same like 1 World & 1 World 2. except there is a mosque nearby. Friday, get to see tripple parking of cars along the road. Very vibrants location ya... brochure did state it as Freehold but not sure, some say leasehold.

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  23. hearsay, no carpark will be given. have to buy cos product is Designer Suite = Commercial Use = No car park provided = office.

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  24. if no car park meaning the cost will increase treamendously. sure 1 car park will cost more than 18k. another thing, abt privacy...look at BJ Court Kondo, when the apt/condo attach to shopping mall the area will hv no privacy, noise level very high, ppl parking their cars/motorbike like nobody business...
    i like this property especially the location. but not with shopping mall under the condo..

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  25. People always concern about commercial title, I don't really understand what is the disadvantages of it in compare with residential title ?

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  26. Cannot redraw from EPF. This will affect sub-sale price.

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  27. i went to their sales office at bay avenue there, the sales executive said Free 1 car park the land title is freehold. the shopping mall is at different phase i dont think be noisy but is strategic location, convenience to any where, good to invest!!!!!!

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  28. Anyone could give comments and comparison of Elit Height with the D'Piazza condo?

    Elit Height has 600 units in 3 blocks whereas the D'Piazza has 780 units as well. Both are high density.
    The subsale of D'Pizza already ask for 390K for the 1300sqft, which is already same price like Elit Height.

    For those experience in condo investment, please give your opinion. TQ

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  29. May I know how different is Commercial Title versus Residential Title in terms of assessment fees?

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  30. Commercial Title = cannot withdraw from EPF??

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  31. I m interested .....anyone can get the unit before it is release ? Can pay deposit & booking now ?

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  32. MW: Can't.
    CK: For the time being, can register only, as a lot of things are not finalized yet.

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  33. Elit Heights is a Condominium or an Apartment ? What is the maintenance fees ?

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  34. I m interested .....how to book before it release?
    how much the selling price?

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  35. maintenance fee rm0.18/sqft, around rm230+ for smallest 1300sqft unit...

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  36. 1. This is commercial title thus you're not allow to withdraw from EPF. I have confirmed this with the developer.

    2. With approx RM300/sf for the unit

    3. With approx 0.18 to 0.20/sf maintenance fee

    Do you think is worth to buy for own stay ?

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  37. what i got to know from recent property fair this is LEASEHOLD... pls confirmed .....i have the brochure for this project too....

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  38. it's freehold, just it is commercial land title.....confirmed

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  39. RM300/psft seem like too expensive for this high dense project. Summore commercial title.

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  40. Heard that soft launch is on 19th & 20th at Quaeen's Bay mall office.

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  41. D'Piazza still a lot of units vacant ... too expensive to invest for this property... if RM260 psf still ok........

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  42. Too Expensive and somemore commercial title.... somemore if sunshine there flood do u think u can come out or go home?? Sure will jam like hell....

    Somemore Pantai and moq is opposite, ambulance silence the whole night and 5am u need to wakeup already 4 praying haha

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  43. It's way too near to the big mosque......unless u don't mind waking up very early each day

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  44. Nice design and reasonable price at 280/sf but relatively NKOTB developer. Suitable for typical FIZ executives.

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  45. The maintenance fee will be 0.15/sf confirmed by the sales office. They will launch on 19th & 20th this month and for those that book on these 2 days will get discount price RM290/sf. 50units of early birds will get Rm280/sf special price.

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  46. should be ok to get 1 unit. The square feet increas price still 300 per sq ft.


    regards
    khorlin

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  47. 290sqf ?? will this a good place to stay? definately a no no, just imagine everyday u need to drive up 5 or 6 level or worst merry go around to reach your car park? after few weeks u will wish you can fly as I have friends experience this at time square condo. Condo above the mall.

    Hows the rental at Dplaza condo ? who will want to rent a unit which the utilities are higher compare to other residental area? same case will happend as this elite.

    mosque mosque.... u will wish you were deaf when you live next to it, same case will happend as this elite.

    flood flood..... u need to book a rescue boat when you are ready to move it, that area r flood prompt when flash rain.

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  48. 300 per sq ft is too expensive

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  49. due to commercial title.... a few drawbacks as below:

    1. cannot withdraw EPF to purchase
    2. water, electric, IWK all 20% higher than residential rate (sales person said can change to residential rate later)
    3. cukai tanah & taksiran 3-6% higher than residential rate (cannot change to residential rate)

    you make the call...

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  50. hey, every area got mosque too, is depend on which type la...i understand from my friend who stay near by Giant area there were NO FLOOD after Giant build up, the drainage system been improved. The flood area is where traffic light in front of Sunshine square the landed proprty there..i think RM300 per sq ft shd b ok...because sub sales for condo near by already up to RM320 psf to RM340 psf..should invest 1 unit there, 19 & 20 June offer at RM290psf should call sales person for further details...

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  51. is it 10:90 built then sell ?

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  52. 1300sqft*RM300/sqft = RM390K (min) for the Elite unit. Please do judgement it is worth it! Aft completion will ppl purchase more than RM450K from u if were to sell. Worth it??? Justify!

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  53. Commercial Title? Will it effect the market value also?

    Multistorey carpark... Will it be like Time Square car park? I heard you can knock you car easily if you not careful with the pillars.

    Everyday pay more RM5 for the petrol because press oil hard to level 5.. haha

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  54. I went to sales office last weekend. The sales person told me that the carpark is 4 level. And will be RM290 for those who had register b4. They just lauch Elit 1 presently. My fren who purchased another project which is also commercial title said that can change commercial title to residential title just need to do many process.. He said worh it.. Can save many..

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  55. I think this is worth to buy, priced at 290psf, full condo facilties, convenience location and commercial lots right below and future shopping complex, even for commercial title also sound reasonable. For mosque, should not be much open, i use to stay at a condo next to the mosque, as long as you are keeping the door up-shut, very little noise impact.

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  56. the project seem interesting given the accessiblity to most of places like market, hypermarket, shopping mall, FIZ & penang bridge.

    Drawback will be too near to mosque..bare in mind, this is not surau (1 speaker), mosque has 4 speakers attached. the best condo to match with this project is the one behind CIMB bank (used to be southern bank), those who interested, probably can go to that condo to check out how loud is the sound from mosque.

    Drawback #2, hospital, you need to mentally prepared for the frequent ambulance annoying sirens during nite. you can avoid even close your door and window, the siren sound just can reach u.

    Drawback #3 (hehe, this is chinese believe/ feng shui), near to police station is bad. "SHA" qi will be a lot.

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  57. Elit 1 had sold >80% within 3 hours of launch. hundreds of heads were there at the launch. Who had stayed till end the sales today, mind to share on the sales status? Thanks.

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  58. Selling price for early bird is 295 per sf. First 50 people can buy at 285 per sf.

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  59. wow.....295 & 285? the sales person was telling me 290 & 280 last Sunday when I visited their office.....goosh....again another project that selling like hot cakes!!

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  60. before buying, please consider about the squatters 1st. hope not end up like kampung buah pala since the land not yet fully clear.

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  61. It was selling at $280psf (E.B.) & $290psf (Discount), back to $300 after tomorrow.

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  62. The land belonged to the Tunas Kooperasi, they have a standard way to compensate the squatters. Usually, there is not much of an issue.

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  63. hi pen,

    how you know there is no issue for the squatters? i still see some house there still havent move. It is safe when you see the land have been clear.

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  64. hi all,
    i doubt the data of 80% sold out. This KL developer, know all the tricky way to attract and push up their sale like SP Setia. Let use our 6 sense to judge whether the place can fetch with this price or not.
    - Cormecial title
    - Mosque coverage area
    - Hospital and polis station just next to it.

    Good luck to those that get cheated.

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  65. AJ: Tunas Kooperasi had removed hundred of squatters before in sg Ara areas, I had never heard of any act of violent.

    Bryan: I agree, this KL developer may be good in packaging their products. But, looking at the proximity to the wet market, Giant, Sunshine, banks, airport, new shopping mall, F&B shops, 2nd bridge & Bayan Lepas FIZ, these are all the +ve. Yes, the -ve are the mosque, as for the hospital it’s just a fengshui thing, if u believe there is yes, don’t believe there is none.

    Remember the data, D'Piazaa & Sunway Tunas, they both have the same concerns but they are fetched good response. D'Piazza known for bad design, but the subsales market can still sustain at ~270-290psf.

    Well, buying any property will have risks, whether it’s a acceptable risk or not. IMHO, this project has pros & cons, but pros > cons, just think, how many pieces of land are left in this area which has the same or more advantages.

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  66. Does anyone know the ceiling height ?

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  67. Only left 2 standard units(~1400sqf type) and penthouse when I visited at 8.30pm yesterday. How true it is? I'm not sure......
    Anyway, this project surely has it's attraction due to the location. For own stay, I 100% support but for investment.....I don't think it's a good idea. D'Piazza + The One + Elit = more competitors. Furthermore, can we sell at RM500k & above after completion? For me, I prefer to look for Sunway Tunas terrace house to invest now

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  68. The property price in Penang raising like crazy. You never know what will happen after 3 years. 3 years ago can you imagine people are willing to spend 400K ++ just to purchase a condo units?

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  69. commercial title means that you have to pay your electrical and water bill like the shopping lot does, it is more higher than normal housing bill.

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  70. penang housing price was goreng by the foreigners and developers, they build super-condo and sell at rocket price then let us feel that normal condo also worth to buy in higher price, what a pity penangites we are, http://www.penangite.org

    richers more rich... they earn double or triple of a unit they build :(
    only penangite really to buy property like a hungry wolf, apa pun sapu...
    but property time going to be sunset....too many and less demand

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  71. I totally agreed with Paulz... as the matter of fact.... am the pity one.... can't save enough to buy.... sometime, I really doubts, what ours government can do for us as MALAYSIAN????

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  72. No body cares. Previously, i also lamented why the apartments in Penang Island are so expensive.
    Why Why why. Why government did not intervene, all these things. But, remember, you have not bought one, so you complain. But, other people who bought earlier will hope for skyrocket price increase. There are 2 sides.

    If you really want to buy one. Buy now if you can afford.

    If you care to check,basically, the price adjustment can be every 3 months, higher.
    The property agent will tell you that the market price already so & so. The reason is simple, demand from young engineers/professionals who got married and could not wait for 3 years.

    Well, i accepted that fact. I bought D Piazza from developer. I have gone through the craze of property price increase when i am trying to buy one from secondary market. Some time, after 3 days of deliberating, it is sold! Or the next opportunity, the owner asked for RM50K more!
    A precedent is set, property agent earning commission will "advise" the seller.


    Now, i am at other side, hoping the price will go up higher. Do you think people who bought their property for RM420K in Elite Heights will let go lower or higher? Definitely, higher.
    It is going to be crazy I tell you. Either you buy one or let go the wish to buy one. Spare yourself the agony and frustration.

    Property launch price will be higher than every precedent set. So, brave for RM400K and above for this kind of apartment in this area.

    Indeed, sad. I have bought a double storey house outside Penang for RM130K only in 2005. The cost of construction does not cost that much, it is the huge demand by young engineers/professionals that fire up the price.

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  73. Tryully agree with u, YES. Penang properties prices have skyrocket like crazy. I truly sympatize with the new fresh graduates. They will have to work truly hard to be able to buy a property in Penang.
    As a working person, I can only afford condominuium. I cannot afford a landed property as it is way beyond my reach.
    I can say, it is everybody that pushed the prices up. Starting from developers/agents/expratriates/owners.Takes all hands to clap to make it a big bang.

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  74. deborah...
    buy within your means...for fresh grad...they don't have to buy elit or dpiazza or any high end condos...there are still many condos available within the affordable range for new fresh grad workers... ;)
    it's like complaining poor fresh grad cannot buy Camry or BMW... if cannot buy...go buy kancil la...or maybe use motorbike first...

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  75. Hi Anyone knows when is Elit 2, 3 & the shoplots are launching?

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  76. This is super good location condo. I would like to buy one. Anyone know when Elit2 will launch?

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  77. Anyone know when is the completion date for the Elit 1 ? What is the price for Elit 2 ?

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  78. Elit 1, 2 & 3 will be completed in ~Q3 2013. Elit 2 or 3 will be priced >=$300psf. When they will be launched? I am waiting for informers too.

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  79. RM300psf almost the cheapest in town, especially the location is nice. It's very convenient to reach to any place.

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  80. hahaha... all has been cheated by agent or sales guy hahaha.... ori prices of the land 6x cheaper.
    penang buyer y so hurry buy or book like hotcaked????

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  81. don jealous to those already buy. Or you can buy any cheaper condo with this best location?

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  82. Well, market is about supply n demand, time will prove whether the buyers are right or wrong. Not any of us to judge at this moment. But the past data will surely help, we can do some homework ourselves, just stop teasing others who bought the condo with own assumption & gut feel views.

    I would use this forum to exchange news & info.

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  83. A Little Red Ridding Hood' project = LLL ratings project

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  84. CK, why asked abt completion when you should be asking on plan approvals? Try this Q on the developer and see their reaction.

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  85. Yesterday was so-called a buyer-day for Elit 1. The developer gathered all the preferred bankers and tried to assign them to individual purchaser with certain quota.

    I was assigned with ION Bank, wow, this was totally new to me, I almost don't hv the option to pick my own preferred bank, loan interest was fixed by the developers across all banks (slight higher than market) & we don't get to decide our bank based on the offer letter, lots of hidden terms & conditions.

    Purchaser's interest is being sacrificed here.

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  86. good, term and condition coming in already before signing S&P, serve u all kiasu people right.

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  87. I am not quite sure that you understand what I was trying to mean. But, anyway, I was happy that I was able to be "kiasu", compare those who can't.

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  88. I've decided to ignore their dictation on loan quota. This is ridiculous to ask buyers to lend from specific bank and to lend more than purchase price and bear the interest just because they want more fund during construction, moreover they were not honest about it.

    Personally I don't expect them to refund me the extra release as soon as they get withdrawal from bank. Any more hidden terms and cost in future?

    Buyers can collaborate to make the project successful because we all know that this developer is not a cash rich company in prior but the action to take advantage of buyers like this is crappy.. what a buyers' day!

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  89. Daedalus: I was trying to catch btw yr lines and get what u mean. You meant when they allowed us to actually borrow more $ is to their advantage? But they are paying the progressive payment interest, right? After my calculation, the actual max loan amount is ~95% of the purchased price, which is to our advantage right? Pls educate me, thanks.

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  90. to our advantage if we can get the lumpsum from bank immediately (buying 2nd hand property), but this is not the case. Developer now will get release from bank and they can take their own sweet time to refund extra amount to buyers. Extra loan doesn't come free, you'll still have to serve its interest after 3 years.

    We should have options to choose, not everyone needs that for renovation or so and so.

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  91. Why need to borrow more than buying price?
    Can Daedalus elaborate?

    Thank you.

    Mr Business of Cari Forum

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  92. Mr Business:

    the buyers that booked on launching day got RM10-20/sf discount, so the developer requested those buyers to take loan at RM300/sf instead of RM280-290/sf price

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  93. Hi Daedalus,
    Is it so that the buyer won't need to pay downpayment?

    Mr Business of Cari Forum

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  94. Yes, as i know all buyer have to pay less during snp. Developer will pay for the interest. If buyer dont want to pay more during they start need to pay instalment, they can choose to pay what they need to pay now 3 yrs later. This is actually benefit to buyer.

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  95. Anyone knows about the specifications of the units? like materials for floorings and ceiling height and things like that?

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  96. I don't think its revealed yet, shall be before the SnP signing.

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  97. 20x20 ceramic tiles for living room, bedrooms
    16x16 (if not mistaken) for smaller areas i.e. bathroom, balcony, kitchen

    skim coat ceiling

    subject to change

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  98. What is the loan interest given by bank now? What is the different of the loan interest between the bank which allocated by developer & apply personally ? Are there the same ?

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  99. What is the colour of the ceramic tiles ? The construction already started ? What is the price & lauch date for Elit 2 ?

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  100. Is Bayan City the project referred in this news report?

    交通堵塞影响贩商生计 峇央峇鲁居民反对外资霸市将进驻
    二零一零年七月三日 凌晨十二时三十六分

    (槟岛西南区2日讯)有传1家外资霸级市场将进驻峇央峇鲁市镇,而这项消息在民间已引起当地居民和地方组织的反对声浪!

    据知,有关外资霸级市场将进驻的建议地点,是在新港杜纳慕达合作社所拥有的地段上,而附近一带地段目前也在开发发展中。针对这项消息,峇央峇鲁睦邻计划及居民协会基于考量到交通阻塞影响及影响社区贩商生计,并于6月4日致函予槟岛市政局,提出4项反对霸市入驻理由。

    较后,该居协及睦邻计划于6月24日接获市政局的回应函件,指在地段上有两项发展用途,根据市政局规划政策及发展监控蓝图,有关地点被圈定为“普通商业区”,两项发展建议包括一项综合性的屋业和酒店发展,计划涵盖一座19层酒店,一座4层购物中心、3座商业中心。

    消息说,当局也接获志期今年5月25日来自国内贸易及消费人事务部的回应函件,关于在上述地点开设霸级市场的申请。而市政局也回应该部门,指基于有关地点太靠近现有的巨人霸级市场及阳光广场,因此并不适合再批准开设霸级市场的申请。

    此外,有关霸市的发展商也不符合市政局的规划指南。无论如何,槟岛市政局卫生、执照和公共教育小组交替主席戴良成受询及这项消息时指出,市局执照单位至目前为止,仍未接获任何有关霸市营业执照的申请。这意味着,上述的外资霸市计划暂未入驻峇央峇鲁市镇。

    蔡亲武:当地小商小贩居多 霸市进驻影响生意

    峇央峇鲁睦邻计划中心主席蔡亲武强调,该会及居协会坚决反对霸市入驻,这主要是考虑到当地居民以小商及小贩居多,担忧霸市进驻将令他们生意受影响。

    他也说,该区的交通日益阻塞,泊车位也不足,再多建设一个霸市并非是良策。

    http://www.kwongwah.com.my/news/2010/07/03/21.html

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  101. sounds likely, a piece of land which belongs to Koperasi Tunas Muda, hotel, mall, 3 block of commercial suite (Elit 1-3)....

    However if another hypermarket coming to the mall is not something good, too much hypermarket in the same place already.

    Unless they bring in something new, like IKEA. Then sure a big impact, and big hike on the condo price nearby ^_^

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  102. Msg from SEAL, Elit2 registration will open for all next week. I sure will go this time. Dont miss it.....

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  103. do u mean open for booking or open for registration?

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  104. still a lot of condo..r on the way coming up.....
    do u thing have buyer to invest..or buy for living after completion...ha...good luck to those r book......................

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  105. Hi penang guy,
    my English is bad but yours is worse:)
    I need to read your comment few times to guess what you mean...

    Mr Business of Cari Forum

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  106. Penang guy,
    i guess you are just giving no point here. Please me 1 single project that is coming up soon...can you name it?

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  107. I guess this will similar to Elit1. They will open for registering first then only to booking.
    Pls refer to their website below:

    http://www.sib.com.my/www/index.php?option=com_content&view=article&id=91&Itemid=183

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  108. Anyone knows what will be the price for Elit 2 & Elit Avenue?

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  109. E.H. was launched 1 wk ahead of TGT, and both projects were fully sold out in 2 days but where are all the E.H. buyers? No comments here? Compared to TGT blog, this blog is really quiet. TGT had drawn way too much attention.

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  110. Elit Heights/Bayan City plan submitted for approval. But TGT not yet.

    http://www.epbt.gov.my/osc/Proj1_Info.cfm?Name=158448&S=S

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  111. I was at the soft launch few weeks ago but not able to get that this. Hope to get Elit2. What i notice from first 50 buyer, they are mostly from high level profession, such as doctor, lawyer, engineer, businessman... Maybe they too busy on their job and didnt put any comment here

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  112. i was told that one of the directors/shareholders has a heavy debt & has been served with bankruptcy.

    CAN SOMEONE CLARIFY THIS???

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  113. elit 2 open for registration at 330psf... cheapest unit is at around 460K... layout totally diff from elit 1...

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  114. If not mistaken, i was told that the price is not more than RM325/sft.

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  115. KK, am Elit 1 buyer, after your comments i went through their a/c and annual reports, Seal is a plc and they are cash rich company....

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  116. i was told by the developer, the size of Elit2 are almost same as Elit1, only Type C layout are different. For Elit2, smallest layout are 1465sqf, and it was sold at not more than RM325 per sqf.

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  117. http://www.google.com/finance?q=KUL:SEAL

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  118. Hi guys,
    i would like to gather your opinion/vote on which direction is giving the best for Elit height project.

    a) Balcony Facing North
    -pro: can not see hospital and ambulance
    -con: the view is blocked by Dpiazza, suntech and the one office tower/condo (future).potentially louder praying sound from mosque.
    b) Balcony Facing South
    -pro: good view, can see plane landing and departing from airport, no blocking. lower priaying sound from mosque.
    -con: facing hospital & can see ambulance.

    let me know what you think

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  119. David,

    Personally I prefer the balcony facing South direction, better view no blocking. Unless you are really picky about the hospital & ambulance thing, then buy facing North and 19 floor above (because D'Piazza is 19 floor total including carpark bays), then sure no block, but of course you will heard louder song 5x daily :-)

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  120. I was told by my friend stay nearby and friend working at suntech, they hardly heard the sound from that mosque...

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  121. David,
    EH1 is the farthest from the Mosque and unobstructed by D'piazza. you can actually see the One and Pisa and even Bukit Jambul. In fact D'piazza is actually behind Hotel Seri Malaysia and opposite Elite 2.

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  122. what a year with so many hikes in BLR ++, petrol++, Sugar++, Gas++... everything++! Is the Govenrment going to do anything about it? luckily seal bear interest till VP!

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  123. David,
    From EH1, you actually can have kind of city view plus green mountain view. City view include The one, new Pisa renovation, coming soon golden triangle, sun tech.

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  124. EH future's price is depending on the mall future achor tenant & quality management. The different views of unit are all secondary factors..

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  125. for those looking for good buy, check out Uban Residence. 1845 going at 595k, o.c. obtained. Plenty of good buy there.

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  126. Amazing! RM325/sqft without seeing anything still got people looking for Elit2 Elit3 Elit4.......??? Why nobody interested to buy D'Piazza condo which is <RM300/sqft and already built? Something is very wrong in Penang property market. Over here, plenty of 1300sgft units at D'Piazza asking for RM330k-350k nobody wants. Over there, a poster of EH & Golden Triangle can attract people to Q up early in the morning.....

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  127. Hi sokohaw,
    Actually i almost want to buy D'Piazza from sub sale, even thought the finishing and outlook really like a flat... no choice ... the location is good...
    until elit1 come...
    but i still think D'Piazza still a good property to own...!
    The island now has less than 1% of land to develop (based on latest official statistic)...

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  128. D-piazza now actually is good buy. Elit need wait 3 year. Now if you rent outside let say RM1000.00/ month x 3 years is RM36,000.00. You need also spent for interest during construction around +-8k. At the end you need at least go for RM350 sqft for subsale = RM500k. At that time D-piazza easirly can sale RM420k = +-RM300 sqft. Don forget 1 world 1 and 2 is finish earlier that Elit.

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  129. Elit has zero interest plan for up to 3 yrs. OK lah..

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  130. I bought an unit during the launching. At the moment, I am considering which bank to go for. There are 6 banks to go for. Still dunno which to go for. May be someone can throw in some lights.

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  131. All banks are having the same interest rate, no particular bank stands out. But we still have to understand their fine printings/terms n condition about the special charges on early settlement, additional deposit, withdrawal of access payment, refinancing etc. If everything is the same, go for the reputable banks. My 2 cents.

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  132. Hi Pen, thanks for the info. When I was at the sales office, it was in a rush. I only know that the S&P to be signed once the building plan is approved. Now a few questions on my mind,

    1. Whether legally it is ok for us to obtain loan prior to the formal S&P?
    2. I did not have a chance to see their JV agreement with Tunas.
    3. Is the development under the housing development act whereby we are protected?

    I started to feel a bit insecure after seeing some bad comments in this website. It seems we are solely rely on the developer. If anything goes wrong, we will be burnt.

    May be my worry is too much. It is just my personal view.

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  133. 1) Yes, u can get a pre-approval loan with your booking slip.
    2) Not sure that JV agreement is meant to share to all. Let me know if you are allowed to read it.
    3) I was told commercial property is not under the protection of housing development act, can anyone else help to answer this?

    That's why buying property from reputable developer is important.

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  134. We need someone to comment on the protection to us as the buyer from law point of view.

    The JV agreement, if you look at their company announcement to KLSE last year, was available for public to view at their KL office. According to the announcement, the agreement is irrevocable.

    So, Pen, is SEAL a reputable developer?

    I am considering all these before I signing any loan agreement and perhaps the S&P.

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  135. heard from seasoned purchasers of Elit 1.

    SEAL was the developer & the current property manager of Selayang Mall. But property development is not their core buisness.

    Like Bayan city here, they are going to build and manage it, sure its not the hit n run type of developer.

    They used to build medium to large scale of commercial malls/shops, but 1st time for condo project.

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  136. So far, I don't hear any bad comment about this developer yet. If there is, please enlighten us here!

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  137. anyone got loan approved? i have mine approved

    but Public bank doesn't seem to accept loan for this project, wonder why?

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  138. hi daedalus,

    i approached pbb and they are telling me to wait.
    it is my interest to find out why too.
    by the way, which bank are u taking?

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  139. Hi Daedalus,

    Which bank r u taking? The bank tht u taking is it assigned by the developer? How much for the interest rate tht bank approved for you? Tht day developer hv promised the interest rate is BLR-2.15% but according to bank,now is BLR-1.90% only.

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  140. I do not think that they are assigning the bank to us. As in fact the sales person gave me the contact for HLB and Am. Last week HLB called me up and pursueing me to take up the loan, it was at BLR-2.15%. I also called up Am, but their rate is now BLR-1.95%.

    However, I still waiting for PBB.

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  141. Confirmed PBB not participating. Also this project is on commercial title = commercial product = not protected under the housing act. Does anybody know whether MBB and CIMB are participating? Can check out also and pls share

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  142. What about Eon Bank ? I heard it's also one of the Elite Height panel bank. Their rate is FDR+1.1% (FDR means FD fixed rate). I am thinking of apply loan thru this EON bank. No lock in period.

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  143. hi penang, pbb told me to wait, but i dunno for what reason. as for the commercial title, if no protection undder the act, may be this is some disadvantage.

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  144. basically commercial title a.k.a serviced apartment. It is very common that some developers do not want to mention it as scare of affecting sale. Service apartment is very common in KL area. I believe everyone know that service apartment pro and cons, pro is near to happening area, business hub...like KLCC, mont kiara..cons is utilities fee and more expensive/sq ft.

    however, these kind of apartments start booming in penang, not sure how penang kia accept it. look at the Time Square now, half die...i guess penang ppl will not like a home with high utilities bills and high m.fee.

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  145. Now only affin and AMbank accept loan for this project at BLR-1.9, the rest all bLR-1.5 due ti commercial title, this is bad! Anybody know if the ONE has same issue?

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  146. at 290 t0 320 psf, best bet is then Dpizza or The Spring at lower price psf and also based on residential status. bryan is right. high Indah Water at 36 per month compared to 6 for residential. high utilities like TNB. However if price is lower than residential unit then it is worth considering but this is not!

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  147. I received a message from them just now, they requesting me to obtain the loan from affin and ambank only. anyone receiving the same?

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  148. If you want to invest, the correct timing to invest D'pizza or The Spring is during their soft launch. There are a lot of owners bought their D'piazza at around RM200K 3 years ago. Further appreciation will be little.

    Or, you buy at price much lower than market price from motivated seller.

    Mr Business of Cari Forum

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  149. One World and Elit Height will be the guinea pigs of mass-scaled service apartment in Penang. Let us see how market respond to them.

    Mr Business of Cari Forum

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  150. I received the same message from developer too... I started to lost confidendce in this project... earlier on there are 5 bank in their list.... left 2 now... and it seems like we have no negotiation power at all... all the while banker hope for our business, now because of left us no choice... we become desperate for their loan.... also... there are no specs mentioned in their broucher... so the finishing can be very subjective now.... im considering to give up this investment....

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  151. I received email from Elite sales person... telling me there are still few units of Elit 1 available, garden view... (not penthouse} coz I register with them before... I think they do not realise I am the existing buyer... so I suspect there are people cancelling their booking too....

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  152. hi sharon, i will maintain wait-and-see strategy as it still have time till the S&P is ready for signing.

    i thought the garden view and penthouse was not sold all. may be i m wrong.

    on the sms, so hl and eon also out? i am suprise...

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  153. PBB is confirmed out but the staff mentioned tat the developer is cash rich just that developer doesnt want to compromise to PBB's terms n conditions

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  154. the sms mentioned deadline postponed to 23rd August 2010 for car pairing, what is car pairing? and i thought by contract, the deadline to sign SnP is 31st August 2010?

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  155. bad sign if bank shy away especially those like Maybank and CIMB. Now those household banks like Hong Leong and PBB are also not participating. Not good at all. Seal maybe cash rich but what is their track record for development? some old projects in K.L. and other state? Not a development focus company afterall unlike Mahsing, E & O, S.P. Setia and other small timer company in Penang - although small, but their core buzz is still development and very focus.

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  156. I just spoken to HLB, and confirmed they are not able to proceed any further for the moment.
    The reason was not mentioned.

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  157. I just got my loan approved from HLB... Not sure whether the deal with the developer as in developer will bear the interest during construction time will be the same... i will wait and see too....

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  158. Sharon, I went to their sales gallery yesterday , the sales person told me limited units left for garden units and penthouse only.. and all the typical units been sold out.

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  159. hi sharon, can u check with hlb, as i understand that at the moment, only two banks are doing the loan for this project. i m a bit suprise that hlb approved ur loan.

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  160. Understanding from the developer, the carpark pairing criteria is to obtain loan within the time frame which is on or before 23/8.

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  161. Hi, am one of the Elit 1 buyer and also banker too, I notice that throughout the blog, there were lots of personal assumptions. As my knowledge, the banks did not drop out nor rejected, the banks still rushing out to the market too. But unfortunately the HQ still processing the application. Due to the slow approval of the loan processing, that's why the developer suggesting us to other banks.

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  162. I agree with you Marcus , I personally called the Management & manager of HLBB and EON, whom incharge of this project, they told me the same as you mentioned.

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  163. hi shahir, hlb told me to wait, pbb is out for time being. even affin and am are in the picture but the interest rate seems less competitive, meaning not as -2.15% anymore.

    marcus, may i know which bank u r from?

    not being negative, i believe we are trying to gather more information.

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  164. HLB confirmed approved my loan for Elite 1. The agent is helping me to appeal for better rate now. The approved rate was BLR-1.9%. I understand from the agent earlier that the agreement between seal and HLB not sign yet. Not sure about the current status

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  165. Hi sharon which HLB Branch approved the loan for, can u refer to me. i wish to obtain the loan from that agent. what packages HLB offer, as u said the agent will appeal better rate and how low they can give????

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  166. Hi Veronica, the approved rate was brl-1.9%. The appeal unsuccessful as HLB said this project lowest rate is blr-1.9%. I apply via KL as I work in KL now. But the agent said all the loan process at KL, so it doesnt matter. If u r keen to apply from my agent, I will talk to her.

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  167. Hi Sharon, as i know now most of the bank is offer BLR-1.90%,only HLB in KL can do d loan??? how about penang branch ???

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  168. Have anyone signed SPA already? or known the specs for the units for EH1 and EH2?

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  169. Me & a few friends are some of the few pioneer purchaser(s) for this project.

    Just wonder what future planning do they have on this development? Can They deliver what they have promises ? Are all the sales representatives well train and if yes, Is the management aware of what they have been presented or they just do for the sake of selling.

    It get me start to worry about the credibility of this developer. 1st they are new without any strong background, 2nd i havent seen any work progresss at site since its launched. 3rd the availabilty of the end financing, what happen and why are certain banks not financing?

    Honestly, we like the overall concept of this project and we know there risk in any investment but We hope to see more sincerity and commitment from the developer as our $$ are hard earn cash.

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  170. Hi OL, SEAL not yet submitted building plan to gov. You have to wait for another >5 months to get everything finalize. If you plan for own stay, better buy D'piazza now.

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  171. I may not very expert in this field. As a property investors throughout all the years, these are some of my comments on Penang Developers :-

    i) CA Goh - usually provide cheap and inferior product quality.
    ii) Ivory - start selling without proper approval from authority and bad project planning. eg the peak and Penang Time Square
    iii) PDC - project always delay. eg government stlye of working
    iv)Ideal Properties - too many amendments on project development planning, bad reputation among bankers, progress work very slow . eg CEO

    OL and L Heng, still too early to comment on Seal but if they were to follow the above developer practices. I can only pity those buyers who suppoted them.

    IJM, i used to categorised them as one of the best developer in Penang. Now ,they also start to flop despite selling at higher price. Don't believe, read on recent comments at platino blog.

    Today's developer are too much profit orientated. Just Too bad!!

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  172. How about SP Setia, Sunway, Mah Sing, E&O? Can any one of these developers be categoried as good developer?

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  173. xzqtiv,

    Just my personal opinion to share with you.

    SP Setia - they are very established developer in Malaysia, their developement concept not bad, their landed property although some phase already completed but not really very appealing. Their reflection should be good but in view of the escalating price , we have yet to access their real value.Big and established doesn't mean thay can deliver good value of property as it also come with very high management cost. The only set back is the Location!! that is why you can see many completed units are up for sale. You can easily find many sub sale in the market!! meaning the take up rate is low.

    Sunway - Is another very pioneer developer in Penang, they dont have very good project to impress me. I would rate them as average category with not much complaint or not much talk about developer.

    Mah Sing - Establish KL developer after CP and SP Setia. Recently they have acquired new piece of land in town called the icon. Very impressive n rather new concept but now i heard they face some problems on the approval from our local authority - another bad planning. The southbay project should be a good place to invest if price are reasonble. With so many upcoming new project in Penang plus many sub sale property flooding the market in the near future...They may encounter some obstacles to have a smooth launch on their southbay plaza.

    E & O - Their high pricing property like the suites and quayside have some how rather affected the market pricing in penang. Suites with many foreign buyers is doing ok with project near completion but quayside still depend on foreign purchase to progress. So far the overall environment and concept quite good although they face some land settlement issue earlier.

    If you look at our housing development act, it still lack of clauses to really protect house buyers. Maybe it is time for our Housing ministry to further review on it. for instance, their artist impression always mislead customers especially a layman which dont understand the actual terms. As far as the developer are concern, their priority is to protect themself first, they just have to cut cost to increase their profit but we buyers will have to suffer as a result of their mismanagement. example - D'piaza Condominium.

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  174. Seal very similar with Ideal. Only few banks financing Elit Bayan and so does The One by Ideal. Both commercial title. Why bankers not favouring? rumour that Ideal has interest in the project also....well buyers what do you expect?... how true... u will know when they delivered cos quality will be Ideal std. Just look at The One, they show nice picture years back and then change change change. Now the development component has no MSC, No Hotel, No Office but only Rifle Range product...fr a fren has been tricked into buying a unit costing more than 1 mil!

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  175. Hi PEngineering how about Belleview Group any comment for this developer?

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  176. Hi, Just checking with u all. Did any one know Elit 1 available units left?

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  177. Understanding from the developer, the signing of SPA is between end of Sept or Oct.

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  178. Hi Sam, No need to ask developer, go to search at epbt, http://www.epbt.gov.my/osc/Proj1_Info.cfm?Name=158448&S=S you can find all the projects status. This link is for elite height. They have only submitted "Kebenaran Merancang form" and it is still pending for approval, not even submitted building plan yet. Do you think the building plan can be approved within 2 months ??

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  179. PEngineering, ha ha.. I agreed with you and hopefully Seal will be one of the miracle.

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  180. When the plan is approved and is not as what they expect. Buyers will usually suffer cos developer usually cut corners to maintain the profit margin. Well, then who cares then cos all SOLD OUT. Buyers, one advice. Better ask to see the approved building plan before sign agreement. Also the specification. Even 1 World by the bad reputation Ideal at least have show unit to show the spec...

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  181. Tomorrow is supposed to be the date for car park pairing. I had been trying to reach the developer, unsuccessful. Anyone has the news about it? Are we supposed to go there? There is no news from the developer at all, I am loosing confident on them over this kind of poor arrangement..

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  182. Ya.... everything not in order only one brochure. When ask about legal fees which we are forced to use their lawyer also not ready. Will inform us upon signing SPA. When call the sales personnel who attended us, she is on vacation and spoken to the other Sales Personnel but she sounds more like GRO. We are purchasing property and not at the pub or bar.... we don't need all this sweet talk with the lemak voice. What we want to know is what is happening to the project. It is our hard earn money. Is this Developer sincere? Everytime i called, there will be different people who attend us. The day we called to register one person, visit the office the other person, called to follow-up another person and now another person again. Apparently the earlier staff have left company not even the project start. Anything wrong to the developer?? Anyone who know it please update us before we are being con.

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  183. Yea... Doreen you are right. We have cancelled our booking as we have lost confidence with this project. My friend worked there before and she told me that the way they run their business are like not serious. The don't have proper staff to focus on the project and majority of their staff are related to the bosses even their panel lawyer. Their turnover are high. I suppose if an experience staff won't work there except the pasar malam staff like the one you have mentioned. I believe the company really got problem. Need to reconsider whether can they deliver.

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  184. if the developer is serious, they should have senior staff where buyer can refer to if junior staff leave the company. In this case, it looks like they have none and also it is only normal that key person with good reputation in property market will shy away fr joining a company if they smell something fishy. Well Penang is very small and news just spread.

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  185. Hi Wayne, which unit u cancelled? I am interested. Can contact me? Penangx@gmail.com, thanks.

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  186. Ya.... we are now like being a fools. The carpark pairing dateline ended but yet they are unable to provide any info on the carpark lots. Everything still pending approval. I believe their staff are not experience and how to get an experience staff when they themself got no commitment and confidence.We are worried.... Should we sign the SPA and after signing can they deliver to their promises. Can someone give us a good advice. First time buying house with so many terms & conditions.

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  187. Hi Penang, i fully agreed with you. My fren who worked there before didn't last for 3 months.I believe an experience staff won't last long. Doreen, it is up to your decision. You still have time to consider but must be very careful. They are very tricky accoding to my fren advise.

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  188. all things comes with risk! need to consider 360 deg. and not to rely solely on comments to make up yr mind. just sharing my experiences...

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  189. That's the "privilege" given to the developers by Penang buyers themselves. Buyers purchase property based on paper & "mini show house". Surely the developers can do what ever they want after that. Anyway, I think these days will not last long as more & more signs of over supply can be seen in many completed projects in Penang, in fact it's happening now........Better buy landed propertylah

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  190. Car pairing done, what's next? I don't even know which car park space I will be given. And how about S & P date, was it fixed yet? Without S & P singing off, we don't even sure when they plan to complete the property for buyers.

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  191. one announcement made in the seal http://www.sib.com.my/www/index.php?option=com_content&view=article&id=114&Itemid=169

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  192. Pen - take note that Elit Bayan and Golden Triangle are both very similar in their SPA arrangement i.e. no SPA = buyer dont know when project is supposed to complete. Well, it looks like it may take another 3.5 years to complete if you are lucky = 3.5 years + 6 months already gone = 4 years....Well I-Regency took 5 years anyway ....

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  193. The very first thing when you walk into the sales office is to ask whether the S&P is ready to be signed. If not, don't bother about the project anymore until the S&P is ready. Of course you will encounter sales person where they show you the entire plan and model, they will tell you to put a booking fees and if you don't put a booking fast, the price will increase soon and there are many people interested in our project. They will show you how many units have been booked but booked doesn't mean buying. Then they will share a plan with you such as we will do car park pairing by xxxxxx, we will let you know the finishing of the units, etc etc.

    My advice is whether for own stay or investment, make sure you book, you get a loan approve and you sign the S&P. Don’t let the waiting time cost you a bomb. S&P is not ready is because there are still legal documents and actions are taking place.

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  194. Have u guys noticed the "Jusco is coming to Bayan City !!!", what does this means? A promotion trick for Elit 2 and Elit avenue launching or is a true statement?

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  195. Anyone knows about the selling price of Elit 2 & Elit Avenue?

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