Puncak Banyan

Puncak Banyan is a medium-cost condominium nestled in the established Taman Connaught, Cheras. The condominium neighbors Angkasa Condominiums, Sri Cendekia, Taman Taynton View and Taman Orkid Desa. Puncak Banyan consists of small-sized condominium units with built-ups range from 800 sf to 820 sf with 3 bedrooms and 2 bathrooms. Full condominium facilities are provided including 24-hour security and a swimming pool. Puncak Banyan was completed in 2007 and developed by Connaught Heights Sdn Bhd, a subsidiary of Bonia Corporation Bhd. Puncak Banyan was launched back then at price tag of around RM127,000. The developer previous development is its immediate neighbor, Angkasa Condominiums (formerly known as Connaught Heights). There are aplenty of amenities can be found within a stone's throw away from Puncak Banyan. It is near to Taman Connaught CBD that comprises Giant Hypermarket, McDonald's, 7-Eleven and Shell and Esso petrol stations. In addition, there are rows of shop lots that house cyber cafes, restaurants and banks (Al-Rajhi and Maybank). In terms of accessibility, Puncak Banyan is accessible via Middle Ring Road 2 (MRR2) and East-West Link Highway. In addition, the condominium is within mere minutes drive to Terminal Bersepadu Selatan (TBS) in Bandar Tasik Selatan that serves KTM Komuter, RapidKL Star LRT, KLIA Expess Rail Link (ERL) and express bus (to South).

Property Details

Name: Puncak Banyan

Address: Jalan 3/11B, Off Persiaran Alam Damai, Taman Connaught, Cheras, Kuala Lumpur

Developer: Connaught Heights Sdn Bhd (a subsidiary of Bonia Corporation)

Completion Date: August 2007

Type: Condominium

Tenure: Freehold

No. of Blocks: 2

No. of Storey: 20

No. of Bedrooms: 3

No. of Bathrooms: 2

Built-up: 800 - 820 sf

Maintenance Fee: RM151

Launch Price: From RM127,000

Subsale Price:

Rental:

Facilities

Swimming pool

Covered car park

Mini market

24-hour security

Market Trends

Analysis

Puncak Banyan is another condominium built to serve the university students market in the area. Most of the students here are from Uni-College Sedaya International (UCSI) which is located just 390 m away from the condominium that is just mere minutes on foot. As for the students of Uni-College Sedaya International (UCSI), they prefer to stay in Angkasa Condominiums which is about 170 m from the university and well surrounded by abundance of amenities within short walking distance. However, there are many foreigners (especially Africans) live in Angkasa Condominiums that have created inconvenience to other residents. The buyers of Puncak Banyan were disappointed on the misleading marketing fact given by the developer last time whereby the developer promised to build a road from the condominium to Taman Connaught, which does not materialized. Hence, the residents have to make a U-turn just to access Taman Connaught's CBD. In addition, there were several complaints on the workmanship and quality of the units as the wall was not painted properly and there were small holes can be found in between tiles. Besides these two defects, there were several more defects found by the owners. However, the rental yield in Puncak Banyan is not very attractive though as the rental yield can only delivers up to 7.3% for a fully-furnished unit - which is still a decent return. In terms of capital appreciation, this condominium was launched from RM127,000 and the price has appreciated to RM160,000 in 2008. Nowadays, the price has already marked to RM250,000.