Casa Residenza is proud to be the tallest building in inner Kota Damansara. This leasehold residential development by Andaman Property Management was sold out within two weeks of its launching.
The sky high service apartment is a 34-storey high building, inclusive of 9-storey car park. Completed in late 2012, Casa Residenza’s main target market for this establishment is college attendees. Many of the buyers entered a Guaranteed Rental Return (GRR) agreement with the management, Andaman Property Management.
Due to development projects with GRR, Andaman is hailed as the King OF GRR. This particular development promises the rate of GRR 8%. This certainly appeals to savvy property investors who are looking for returns for their investments at the shortest time possible. This is possible because Andaman acts as a mediator between property owners and prospective tenants. Prior to Casa Residenza launching, Andaman has a lease agreement with universities and colleges. The collaboration promises a supply of students in need of housing. Therefore, the property buyers do not have to worry about vacant units.
Casa Residenza offers 24-hour security protection. The service includes round-the-clock CCTV and access card entry. Safe from harm, the residents can enjoy the onsite facilities such as the swimming pool, library, gymnasium and WiFi Hotspot. A short drive along Persiaran Surian will take you to places of interests such as The Curve, IKEA, Kidzania, One Utama and Kelab Golf Sri Selangor.
There is also an array of drive-thru fast food restaurants within a short driving distance. Subang Airport, host of Firefly and Berjaya Air airlines, is reachable within 15 minutes via back road. The condominium is accessible via Damansara – Puchong Expressway (LDP), Penchala Link (SPRINT Highway), New Klang Valley Expressway (NKVE) and Jalan Sungai Buloh.
Name: Casa Residenza
Address: Persiaran Surian, Kota Damansara, PJU 5, 47810 Petaling Jaya, Selangor
Developer: Andaman Group
Completion Date: 2012
Type: Service Apartment
No. of Storey: 34
No. of Units: 357
No. of Bedrooms: 3
No. of Bathrooms: 2
Built-up: 877 – 966 sf
Maintenance Fee: RM0.22 psf
Launch Price: RM380,000
Subsale Price: RM 398,000.00 - RM 800,000.00
Rental: RM 1,200.00 - RM 2,900.00
Type A (877 sf) (3-bed)
Type B (943 sf) (3-bed)
24-hour security with CCTV & access card
Casa Residenza developers certainly knew how to appeal to the property investors. The units were sold off within two weeks of its launch in 2010. It is no doubt that he GRR scheme is the highlight of this property. With promised investment returns within a short time, they grab the money making opportunities. However, prospective buyers are encouraged to do their homework and read the agreement thoroughly. There have been complaints about Andaman on their other GRR scheme properties. Andaman is believed to have close relation with the controversial Meda Inc.
The upside of the GRR scheme is that the majority of the Casa Residenza residents are college students studying in the nearby institutions. Although it carries the title condominium, one may feel as if living in hostels. Some owner may fit up to eight people per unit. However, living in student environment, one can expect the advantages that come with it. There are plenty of shops and restaurants within walking distance that open late.
There is awaiting MRT station set for completion in 2017. This will unsurprisingly result in higher pricing for the units in the future. Perceptive property buyers could foresee this. Currently, the price for the units have almost reached RM200,000 higher than the launch price. During heavy rains, one may want to refrain from driving along Persiaran Surian, especially Shell Sunway Damansara area, as it is an inevitable location for flash floods. Busy commuters need to take into account that setback. It can cause severe traffic congestion for several hours.