Citra Hill Development Review, Seri Pajam

This is my second entry on Real Estate Investment, since there are lacking blogs and information on this development, I am going to finally write a brief analysis on this specific property development.

Citra Hill, Pajam

      1) Overview

I bought off a single storey terrace (Aria Park Type B) back in September 2012, and it was priced at 285k, Freehold, Non-Bumi Lot. Mind you, I was so much immature when deciding on this property purchase. Seemingly the affinity towards single storey house, decided to purchase over this property on a very IMPULSIVE manner (investment without in depth analysis has proven to be a costly investment). I didn’t really do much study upon deciding on purchase over a property.  Well, after almost two years, this turned out to be not the best investment of date, but on the other hand it is not bad at all with some potential. Why did I say so? I will delve further over a few schematic diagrams. 

In the map above (from Wikimapia),  we can see the LEKAS highway is having a concentrated development along the vicinity. Notably, the 2 Eco giants (SP Setia and Eco World) are just around the corner. Plus newly launch Serene Heights by UEM Sunrise has turned areas along the LEKAS highway to be highly exciting as the three notable developers have come into the picture. Citra Hill 1&2 is located at Pajam semi-direct interchange which is immediately next in line after Setia Ecohill and Eco Majestic Interchange (which is currently under construction).  I have personally tested the driving time to get off from Citra Hill to Eco Majestic Interchange, and it is just less than 5 minutes away (possibly with RM 1.50 toll). Those two Eco Giants have very good prospects, and those who have vested in it is definitely will have the best of capital appreciation once the projects are completed. So, the spillage will occur mostly towards Semenyih and Beranang Side, as both towns are just in the vicinity. Next in line will be Pajam, if the development is going southbound, but it is slightly too far apart from those 2 eco giants for the development to be more concentrated in Pajam as for now.

Now, back to potential  Capital Appreciation, this is based on the price of comparable Double Storey Houses Intermediate on those developments. Citra Hill, Ecohill and Eco Majestic was launched at approximately about the same time, in 2012-2013.

 

Development	2012-2013 (Launch Price)	2015
Citra Hill 1, Zeta Park (22x70)	370k	540k (Subsale)
Citra Hill 2 (20x70)		530k (Launch Price)
Setia Ecohill Aquatilis (20x70)	528k
EcoMajestic Cradleton(22x70)	670k
Serene Heights Begonia(22x70)		636k (Launch Price)

Do note that while Citra Hill is under Negeri Sembilan Municipality (Nilai), whereas the other three is under Selangor (Semenyih). So being under Negeri Sembilan Address, as address also carries some factor into it, surely Nilai address has the least capital appreciation as compared to the latter. 

But, recent developments in Citra Hill have been quite promising. Citra Hill 2 terraces are not cheap; it is about 500k for 20x70 terraces in the middle of nowhere (quite). And the most recent Citra Residency townhouse is equally expensive, it is around 250k-320k for 1050sq feet townhouse (around RM250per sq feet). I was quite taken aback by the high price launched by Seri Pajam initially, but the uptakes of both projects are quite promising (around 70-80% already been booked). So, theoretically, buyers of citra hill 1 have surely enjoying the paper gain of the capital appreciation.

At this point of time,  the more popular Nada Alam Township (By Seri Pajam), has been fully booked as well. NADA 1 is fully sold out, and NADA 2 and 3 is about 90% fully booked.  Nada Alam is just in the vicinity to citra hill, nearby to Pajam Interchange exit as well.

Considering this places have quite a demand for, surely sooner or later Seri Pajam will launch citra hill 3 in the future, and for sure, they have some land bank reserves in Citra Hill.

  

  2)      Masterplan

 Looking at this masterplan of new townships, I just cant disagree both Setia Ecohill and Ecomajestic are the gigantic townships as compared to Serene Heights and Citra Hill. While generally SE and EM trumped out SH and Citra Hill in terms of size, both of them also capitalizes on 2 direct interchanges from Lekas Highway to the township. 

Serene Heights still have a big area effect, the development is around 650acres, but the access from LEKAS is too poor. It is only a single laner, quite far apart which is about 4-5kms from Semenyih interchange and the road quality is terrible too. But the good point is Serene Heights is closer to I&P Alam Sari, which in turn, closer to Bangi and Jalan Reko.

So now as for Citra Hill, it has the smallest scale development, probably less than 100 acre. As compared to those 3 big guns, Seri Pajam is way too small a developer is(SP, EW and UEM is probably in the top 5 best property developer). So, the master plan is in a very small scale, you cant possible google it out to find out about the overall township. It is just a small scaled development (pocket development) comprises of mixture of types of landed houses, with some amenities and small recreational activities (but sadly no commercial development so far). Citra Hill also has the semi-direct interchange to the residential areas. Pajam Interchange is not directly linked to Citra Hill, but it is very close by, which is about 1-2kms only to the residential areas. The condition of the road is good and the lanes are wide too. As comparison to Serene Heights, access to Citra Hill is definitely better albeit it is being further apart towards Pajam.

        

      3)      Developer

Seri Pajam is quite a renowned developer in Negeri Sembilan State. They have notable development in Mantin, Senawang, Bandar Warisan Puteri, Seremban, Salak Tinggi, mostly comprises of landed properties. But, Seri Pajam is quite notorious on the building internal quality where buyers have bad experience in leak, crack issues on the houses they purchase. The house defects have been widely circulated in social media. But over time, they have improved the service and putting their effort in handling the house defects after VP. On my personal note, my property does not have any major leak issues and I am quite satisfied over their workmanship. But through the Citra Hill Community, they are filing on numerous complaints towards the maintenance into the recurring leak issues. So far, they are quite tired off with the recurring defects, but since they have move in to Citra hill, I guess they just have to live with it.

Well, as for the other 3 developers, people would expect more quality from the 3 big guns and hence emphasizing on higher or more premium prize as compare to Seri Pajam.  

As this is just an overview, I should look more into other aspects of the development. Of course, this is just my personal opinions towards Citra Hill, and for other readers some of the pointers discussed might have been debatable.

Thanks for reading and any comments are greatly appreciated.