Perhaps its a good move for leasehold owner? Anyone planning to get extension? and how much it will cost?

KUALA LUMPUR: State governments can approve applications for renewal or extension of leasehold land for a period of not more than 99 years unless they require the land for public purposes.

Deputy Prime Minister Tan Sri Muhyiddin Yassin said all state governments had agreed to adhere to the new policy.

“The implementation of this policy would fulfill the needs of the rakyat who are worried about losing their land titles,” he told reporters after chairing the 66th National Land Council meeting here yesterday.
Tackling land matters: Muhyiddin (left) getting ready to chair the 66th National Land Council meeting at Parliament House Wednesday. On his right is Natural Resources and Environment Minister Datuk Seri Douglas Uggah Embas. – Bernama

He said the policy, which was decided during the meeting, would be used as a guide with several conditions which include:

> leasehold land under the categories “building”, “industrial” or “agriculture” for which owners can apply at any time to extend their lease and are not bound by the remainder of the lease period;

> applicants are required to make simultaneous applications in order to surrender their land in accordance with Section 197 of the National Land Code and apply for alienation using Form Schedule 1 of the respective State Land Rules and existing rules and procedures under the National Land Code 1965;

> extension of the new lease is not more than 99 years if the land is not required by the government for public purposes;

> it is subject to imposition of relevant fees;

> the new period of the lease is effective from the date of the registration of the new title; and

> it is not contrary to any written laws that are enforced.




sos http://www.thestar.com.my/news/story.asp?f...3012&sec=nation

Hope our government will hold on to this policy.

Remember last Monday in TheStar Metro, owners have to fork out RM80K to RM100K to renew their house land.
Problem is the owner is already old and retired, where got such money to renew.

Even government allow you to renew, in future do you have money to renew it. And in future, it won't be RM100K anymore.

does it mention the dimension of the land? how big?

You still have to pay whatever they calculate!

I would like to know how they calculate the renewal fee......><

I think not mention, not so sure also, saw the photo, land as big as bungalow land.

maybe the have d calculation, perhaps according to land areas, and d value of d land areas on d date of renewing? something like that perhaps.

We could not expect to pay d same price we pay 50-60 years ago , dont we?

price will increase due to inflation and value of the money. our petrol, food, education and etc also will increase, why not lease and properties price.

infact property will always increase.

this policy looks useless as it will burden the old and retired ppl!
do anyone here have the calculation to estimate the amount to be paid to renew the leasehold?

The problem is we as Malaysian should partly own the place that we had paid for it today!

I dont see what the big fuss is about. Wasnt it always possible to apply for a 99 year extension on your land?

then get Freehold.

Guys, to me, what cybermaster said is exactly true. To me, that article has no additional bearing or improvement at all against what is/are being practised today. What is the difference against what we are doing today ?

+1 Makes no difference.

Yeowa, thank you, glad that someone spotted the same thing too.

Leasehold landowners will get discount at the end of lease: S’gor MB
By A.RUBAN

SHAH ALAM: The Selangor government will give a discount to leasehold landowners whose leases are coming to an end.

Mentri Besar Tan Sri Khalid Ibrahim said talks on the quantum of the discount were still ongoing and added that the rate would be based on market price.

The discount was aimed at easing the burden of the landowners as renewal of premiums for prime areas could be really high, he said Friday.

He said this after receiving several computers from AMD Global Service on behalf of the state government, which would be donated to eight welfare homes.

Khalid revealed the state government's plan after Deputy Prime Minister Tan Sri Muhyiddin Yassin announced that all state governments could now renew the lease to not more than 99 years.

The announcement was to fulfill the needs of the people who were worried about losing their land titles.

However, Muhyiddin had added that the new extension on the lease would only be given if the land was not needed by the government for public purposes.

Meanwhile, Khalid said the state government would also come-up with a new plan.

“We would also come up with a programme to encourage those to renew their lease after 30 years,” Khalid said, adding that it would allow landowners to renew their lease earlier compared to waiting after 85 years to do so.

But today the Selangor Gov did something new which is to offer DISCOUNTS on the premium for the lease extension although the quantum is not yet defined. Now that is new.

Quite new, I would say, but well, if we talk properly to the Jabatan Tanah people, they would still give us some discounts earlier too if we appealed nicely to them. So, new to many but not to me.

no one wants to renew it before the lease expires, if gomen already guarantee.

Why waste your money? do you still think your house is ok after 70 years? May be by that time not worth to renew.? who knows?

Guarantee is important than renew earlier..

I think most of us doesn't even live long enough to renew the lease..

horey for Selangor property owners....
but need to see the exact calculation first...
hope will not burden me after 50yaers ++

That only apply to new property.

If you buy 2nd hand leasehold house, you will live long enough to renew the lease?

Basically if your house still can sell after 60 years.. that means your location is really good..

usually people who buy your house have to destruct everything and re-construct liao..

Hey, guys reviving an old thread. How much to renew leasehold for property in KL, not Selangor?

Is there any regulation saying that the developer must renew/extent the lease period to 99 upon VP?