Private Dweller Ownership Scheme, just announced by the Selangor government, is indeed a welcoming initiative. This scheme allows Selangor residents to apply for lease renewal and extension with easy payment scheme of only RM 1,000 premium. This has completely solved the problem of expensive lease renewal for the residents in PJ Old Town with expiring lease.

Beginning 1st June 2011, all residential property owners in Selangor can apply to renew and extend the land lease to 99 years by paying RM 1,000 premium. This shows that the state governments led by Pakatan Rakyat have continued to introduce policies that benefit the public and reduce the burden of escalating living cost. In terms of affordability, the lease extension premium under this scheme is unprecedented in our country’s history.
I believe that this scheme is fair, as it applies to all types of residential properties and it has no limit on the size of land. It also benefits the residents of New Village, including those low-income residents in the rural areas and fishing villages. This scheme also applies to the case whereby the lease is transferred to their children, but limited to only one time of transfer. However, this scheme does not apply to the sales of land and transfer of title to persons other than children.

Since Pakatan Rakyat started governing Selangor in 2008, my service centre has received many complaints by the public regarding the expensive premium on lease extension. Based on the previous government’s methodology, the premium is calculated based on RM 10 to RM 25 per sqft. In many residential areas, especially PJ Old Town, the senior citizens cannot afford to pay RM 70,000 to RM 120,000 for lease extension. After discussing this matter with the Pakatan Rakyat leaders and Selangor Mentari Besar, the Selangor government has decided to implement a uniform lease extension premium of RM 1,000 to benefit the people in Selangor.

This scheme has solved the all problems related to lease extension in Selangor. This is in line with the philosophy of Pakatan Rakyat that every citizen should own a home, with the land titles that belong to them.

Earlier, the BN government, especially the MCA, accused the Pakatan Rakyat of charging expensive premium for lease extension. This scheme has put the accusation to rest. The promise to introduce beneficial policies to the people has been honoured. Additional details regarding this scheme will be announced by the Selangor Mentari Besar in the near future.

http://cheanchung.wordpress.com/2011/06/02...-lease-renewal/

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Petaling Jaya Old Town residents can now extend their leasehold titles to 99 years by paying a premium of RM1,000 under the Selangor government’s Private Dweller Ownership Scheme.

Petaling Jaya Selatan MP Hee Loy Sian said details of the scheme would be made public soon.

PJ Old Town encompassing Section 1 to 4 comprises about 2,300 households.

According to Hee, 70% of the families there could not afford to pay the high premium to extend their expiring leases.

Villagers without land titles and TOL holders who have lived on the TOL land for more than 10 years are also entitled to the scheme with terms and conditions.

However, he said those who planned to sell the land or transfer the title would have to pay the full premium, though they would be given a 30% discount if they paid within six months.

“In the past, New Village residents needed to pay RM0.50 and RM2.50 per sq ft for an extension of 60 and 99 years, respectively, but now they only need to pay RM1,000.

“The Selangor government expects to receive a lot of revenue from lease extensions, while the public will benefit from extending the lease at a low cost. This is a win-win outcome,” he added.

He also encouraged those who could afford the full premium to pay it so that there would not be any hitches if they wanted to sell their properties.

http://www.starproperty.my/PropertyScene/T...htBox/12421/0/0


This post has been edited by smallizard: Jun 7 2011, 11:40 AM

i read in chinese daily, it's for whole selangor state.
no, the lease extension max is only 99years. meaning to say if u renew now, your lease extension is 90 + 9=99

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Added on June 7, 2011, 11:30 amhope that PR can be the state gov forever...

This post has been edited by smallizard: Jun 7 2011, 11:30 AM

yes, when u sell the property.. u got to pay back the premium following the market value.
but at least good for those who really need home for generation.

why categorized a good policy as irresponsible? are u a freehold property owner in selangor? if owner resell their leasehold property, they still hv to pay the premium according to market rate. the policy is merely for real owner, not for investor.