20 Sierramas Heights condos under ‘Stay and Own’ scheme released

This article first appeared in City & Country, The Edge Malaysia Weekly, on January 28, 2019 - February 03, 2019.
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Terang Murni Sdn Bhd released the final 20 completed Sierramas Heights condos under its “Stay and Own” scheme on Jan 17, it said in a press release.

Under the scheme, buyers only have to pay a deposit of 20% of the sales and purchase price of the unit and stay rent-free for up to five years. They are then given the option to either complete the SPA within the five-year period or sell the unit at the current market price within three months of the fifth year of the SPA.

The built-up of the 20 units range from 1,259 to 1,432 sq ft, with selling prices starting at RM800,000. That means a buyer can get a unit for as low as RM160,000. The 20 units, located throughout the 17-storey condominium block, are fitted out with kitchen cabinets with hob and hood, hot water system, bath tub, and air-conditioning units.

The condo is situated within the 200-acre Sierramas township — the first gated, guarded and landscaped township in Malaysia.

Sierramas Heights, which occupies a 1.61-acre site, was launched in August 2013 and completed in July 2016. It has a gross development value of RM89 million and offers 98 units with built-ups ranging from 1,216 to 2,508 sq ft. Excluding the 20 units under the Stay and Own scheme, the remaining 78 units are 80% sold. The condo is marketed by Tan & Tan Development Bhd.

Facilities include a playground and multi-purpose hall. The maintenance fee, including the sinking fund, is 60 sen psf.

Nearby amenities include Jaya Grocer and two international schools — IGB International School and ELC International School. One Utama Shopping Centre is 10km away.

Sierramas Heights is linked to Kota Damansara and Bandar Utama via the NKVE. The new Sungai Buloh and Kampung Selamat MRT stations are about 2km away.