Hi, want to ask if a residential condo is built with freehold commercial title, can it be convert to residential title?
Should it be done by developer or buyer later on?
May l know where can l refer to for the KL cukai tanah and cukai pintu for commercial title residental freehold rate?
Many thanks
@edward_ndh
I believe all residential condo is under Strata Title now... and if really want to convert between Commercial and Residential... if will be difficult as Commercial and Residential title have different requirements.
Not forgetting the status of the land when the property was initially built.
Cukai Tanah - https://www.ptgwp.gov.my/etanah-awam/AwamLoginForm.xhtml
Cukai Pintu - http://www.dbkl.gov.my/index.php?option=com_content&view=article&id=134&Itemid=630&lang=en
May I know if it is wise to buy a unit of a serviced residence with a commercial title and a leasehold tenure?
@SamanthaW
Sounds interesting.
Where is this serviced residence located, and how many years leasehold?
@domng
My partner and I were looking at the PJ Midtown project. We are new at purchasing a property but this would be for our own stay and probably as an investment for future hence why we would appreciate advise from those who are more experienced.
Aren't leasehold properties usually at 99 years or it varies from different developers?
@SamanthaW
Good that you are also considering it an investment as a contingency; in the event it is not suitable for own stay anymore.
Best to double check with the developer how many years leasehold.
It is also prudent to check, when the Strata Title MoT will be available for transfer to individual buyer. Some developers even offer to absorb the MoT transfer fee.
Thanks @domng, we've decided to go ahead with the purchase of this project.
@SamanthaW
All the best. Believe you and your partner have made the right choice!
@edward_ndh good sharing