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

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?