The Chancellor, Ampang
The Chancellor is a leasehold condominium located in Taman Kosas, Ampang. The condominium consists of three blocks, each having 15 storeys with a total of 368 units. Units have a built-up ranging from 1270 sf to 1378 sf. All units come with 3 bedrooms and 2 bathrooms and a balcony. Subsale prices start from RM300,000 onwards.
The Chancellor is patrolled by security 24 hours daily, and the nearest police station is Balai Polis Bukit Indah, which is less than 1 kilometre away. Facilities within the condominium include an outdoor swimming pool, a playground and covered parking. There is also the standard jogging track within the condominium, along with tennis court and squash court facilities. General maintenance for the units are priced at RM115 per month.
As the Chancellor is located in the vicinity of Ampang Waterfront, amenities are easily accessible as there are several shopping malls in Ampang. The closest mall is Spectrum Shopping Mall, less than 5 minutes away by car. Right behind the mall is Ampang Old Town’s Wet Market, where the locals do their daily grocery shopping. The Poliklinik Medipoint is just located opposite to the condominium and there are two hospitals nearby, which are Hospital Ampang and the Joe Medical Centre, which is is less than 500 metres away.
Jalan Ampang is also home to most of the established banking institutions in Malaysia. The headquarters of several banks are located in the area; therefore, banking facilities are said to be easily accessible from The Chancellor. There are two schools located in the immediate vicinity, which are SMK Taman Kosas, and SKT Ampang. There are two Surau, one Chinese temple and one church within a 1-kilometre radius.
In terms of accessibility, The Chancellor is well connected with the rest of Kuala Lumpur with Kuala Lumpur City Centre being less than 20 minutes away in moderate traffic. The Ampang – Kuala Lumpur Elevated Highway (AKLEH), which is the first elevated highway in Malaysia, connects the whole of Kuala Lumpur to Selangor. There are future plans to expand this highway once traffic hit 93,000 cars per day.
There are numerous banks, schools and places of worship within the vicinity of The Chancellor, therefore traffic is said to be moderate at all times. It is located very conveniently in terms of amenity accessibility; however, traffic congestion has been described at moderate even at peak hours, this could be due to adequate road planning by the local municipality.
For investment purposes, the units here could be a potential buy as the average asking price for one unit was at RM250,000 in the year 2010; which has since then risen to a minimum of RM300,000 in the year 2013. Capital appreciation is said to be good, however the same could be said for a large chunk of properties as the Malaysian property market, especially in the KL area has seen exceptional appreciation in recent years. There have been a slight confusion on the status of tenure. Some believes it to be freehold, while others accepted it as having the leasehold status.