KUALA LUMPUR: It will be an upgrade they never dreamed of. In three years time, residents of the Taman Segar low-cost flats in Cheras will move into new apartments almost twice as large as their current homes.
Each unit will come with a spectacular view of the city, coupled with all the amenities of a luxury condominium, including an infinity pool and a gym.
Federal Territories Minister Khalid Samad said three blocks of walk-up flats in the area that now house about 300 families will be replaced by a single high-rise with 1,142 apartments.
He said the 300 families would be given a unit each in the new high-rise under a “house exchange” agreement.
Dwellers of the 500 ft² low cost flats will be given a 900 ft² apartment each under the deal. Each 900 ft² unit is pegged at RM300,000.
Khalid, who was speaking to reporters at the Segar Residences Handover Ceremony in Taman Segar today, said the remaining 842 units would be sold by the developer.
Taman Segar JMC chairman Ngeau Koi Chai said the low-cost flats, built in 1980, were already showing signs of decay.
“Cracks have appeared in many places, there is soil erosion and pipes are leaking, making life here quite difficult for the residents,” he said. Most of the occupants are senior citizens.
The project is undertaken by Upper Label Sdn Bhd together with its parent company Sri Binaraya Sdn Bhd under a redevelopment programme.
Khalid said his ministry and Kuala Lumpur City Hall agreed that there was a need for a redevelopment programme as pursued by many cities around the world.
“Old and outdated housing need to be rebuilt or replaced with modern condominiums complete with all the amenities available in a luxury condo,” he said.