Lowyat.NET: Latest topics by MAC5

Premium to renew leasehold shoplot in Selangor

MAC5 — Wed, 24 Jul 2024 10:43:29 +0800

Greeting to all friends in Lowyat Forum.

In relation to premium payable to renew leasehold shoplot in Selangor, the formula is as follows:-

FOR COMMERCIAL LAND IN SELANGOR
3/4X 1/100 X value of the land X term of new lease minus balance of existing lease

As an example for a commercial land with 35,000 sq ft in land area and with a remaining lease of 30 years valued at RM 150 per sq ft: 3/4 X 1/100 X 5.25 million X 69 years = RM 2,716,875 is the premium payable.

My doubt is as follows:-

If I am renewing lease for a leasehold 3 storey shoplot (with SPA value of RM4 million), the value of the land is:

-based on land + building on it?

OR

-based on vacant land (irrespective what building is built on the land and authorities will value the land as if the land is vacant)?

OR

-they will directly adopt SPA price of RM4 million as value to calculate the premium?

Individual Title Shoplot or Stratified retail lot?

MAC5 — Sun, 05 Jun 2022 20:37:22 +0800

Hi guys. Anyone expert in investing commercial properties? Wondering between individual title shoplot or stratified title retail lot or office lot. For conventional individual title shoplot, one does not require to pay monthly maintenance fee and car park is under local authority’s supervision. Strata retail or office lot needs to pay monthly maintenance and pay season car parking but have better security.

Leasehold landed cannot buy?

MAC5 — Wed, 24 Mar 2021 23:36:13 +0800

Guys, can share your views on leasehold landed terrace?