dear forumers,

can a leasehold property convert to freehold? if the answer is yes, what are the procedure and the fees? thank you..

not saying impossible . unless najib give a permission to pejabat tanah to change your land title .

overall , it's abit impossible

imposible unless your father name start with

1. sultan of the state
2. thats all really

I think need Mama Ros approval first. ..wakakaka

People really open thread to ask silly question.

b00n & Cherroy please do your work.

he must be joking or testing the mods see if they are doing their works ~

Well, Shang Villa in Kelana Jaya managed to convert to freehold for some odd reason.

http://www.propwall.my/kelana_jaya/shang_villa

The page you were looking for doesn't exist.

Don't shoot TS, this is an open forum to ask questions, no matter how silly to others it may sound.

It is highly unlikely that one can convert just his unit from Leasehold to Freehold unless as someone else mentioned you have connections to the Sultan or perhaps Mentri Besar. During the Time of the Great Dentist, almost all things was possible.

But say, en bloc of a Condo, still possible but unlikely unless all the owner are willing to pay huge Premiums.

I still don think its possible under normal circumstances else all the JMBs will ask for freehold conversion dy ~


something is under the table ~ LOL

buy over the country for a start ...
next step i really don't know ... have no experience buying country yet.

leasehold means the land belong to the state and you are renting the land.
freehold means the land belong to you.

there is no way around it unless you are well connected to rezone the land. The KING would need to approve that.
get a GOLD on next Olympic game, you can surely ask for a peace land freehold.

Of course, something under Table in addition to conversion premium which is estimated at least 25% to 30% ++ of your current Market value.

So, a Leasehold Condo, launched at say RM600K, the freehold value should be at least 25%++ higher right. So, if after VP, the MV is already RM800K, how many owners willing to pay additional RM200K to convert. Mind you, it must be 100% consent and paying and this Conversion Premium, can you add on to Housing Loan.

Else, how many ppl got RM200K cash?

it's a fairly complex process.

but they have been cases.

nebousuke boss quoted an excellent case reference material.
shang villa was originally leasehold but was accorded freehold now.

some other related articles on this subject:
http://propertyhunter.com.my/v1/news.php?id=182

from what i have been told, the conversion involves mainly two process.
first is to renew the leasehold tenure back to 99 years. there's a formula to this in which if i'm not mistaken if 1% for every year renew x certain value of your existing land.
http://www.hba.org.my/news/2002/1002/leasehold.htm


then secondly is the conversion premium from leasehold to freehold. again if i'm not mistaken is approximately quarter to 30% of the land value. which comes to the reason of people always quoting leasehold at 30% discount to freehold status in terms of comparison.

good luck.


PS:
one of the more sureway to obtain approval is by means of amalgamation of 2 parcel of land. the larger piece FH and smaller parcel being LH. especially so if the larger piece is easily having a clear majority of the overall combined area. say 70% and above.

LOL don't get wrong info haha, freehold doesn't means forever is urs,
government want make project on ur land and you'll be force to kick out by them too

you are semi correct.
however the conversion is on value of land as conversion involves the land only and not the building. hence one should deduce the land value and not the property value as base for the application for conversion.
and again you are right to say for highrise, you would practically require almost entire agreement in place (>90%) in order to proceed with application.
say 50% owner willing to fork out the additional for conversion, the other 50% or even 10% might not and it still would not go through.

at lease they pay you back a fair market value mahhhh.
leasehold they straight say dun want rent already, take back ... house you can move away !!

exactly ~

leasehold = after expiry need to pay premium to extend
freehold = wait until they kick u out of ur house (normally paying ur house market value)

happened to my fren's house after 30 yrs staying there and the compensation not worth at all

Oh yeah, Conversion Premiums for Land Cost only

leasehold or freehold or even squatters, once government intend to acquire, they still need to pay for compensation.
and irrespective of whatever amount, general people would feel insufficient irrespective.

in compulsory acquisition scenarios, the government valuer would assign a valuation to the acquisition in general basis.
eg. acquisition of an entire row of houses.
the valuer might assign the value as follows:
land only RM50psf
land + building RM50psf + RM150psf

so in this case, a beautifully renovated house might get the same compensation as the basic house next door.

maybe your friend extensively reno-ed?

haha leasehold or freehold both also will have compensation
and the value is dependa the valuer from bank.
like what above taikor say

thank you for your kindly reply...actually i'm planning to buy a house with leasehold status...the location is perfect and the price is good. but it only got 50 years left....after read all the reply i'm not sure whether it's a wise decision to buy this kind of house...

if in pj, go ahead.
renewal is just a token sum.

if in penang, also go ahead, option to renew is quite transparent, fast and easy.

others, please do own due diligence.

you ask bank loan first. leasehold period too shot they usually don't want to loan. 50 years is short in bank term because after 30years you pay they only have 20 years left ... so check with bank first.

Make sure the price has been reflected. Price of 50-year lease should be lower than price of house with say 70-year lease remaining.

Where is your location.

shah alam

Boss Kochin,
not only which state is important. timing is also important. my relative's leasehold land in pahang done just before GE13 so does some parcels of leasehold lands in perak state.
my 2cents...

Silly? You dunno better keep quiet

next time check leasehold or freehold. now get a tissue paper and cry for effing up

not house market value.
land value.

you cannot convert your property to leasehold or freehold.
only the land is converted.

I would like to know if you find out how.
Please update us. Thx

Frankly I transacted quite a number if Shang Villa condos, I was told by the JMB tat the reason for them to appeal Shang Villa for conversion is becoz Shang Villa is surrounded by freehold lands, and not likely gomen has any mega public project which may acquire Shang Villa's land in the future.



This post has been edited by UFO-ET: May 8 2014, 12:12 PM

Sifu's,

Is it worth buying a leasehold property with remaining lease of 78 years from developer....and location wise somewhere near shah alam 2...and if we may have plans to sell it later.....

I am reviving this thread now following the news in Negeri Sembilan where Leasehold properties can be converted to freehold now, albeit only one under each owner.

Anyone has any information on the procedure?

Why can't residents/loyal tax-paying citizens who had been living on LH land for generations hv their land converted to FH? Thr is NONE WHATSOEVER legal justification for it not to be done!

PH must take up this issue.

Leasehold can convert to freehold?? You are serious?? at what price? it's almost like you sign tenancy agreement to rent a home and later can convert as owner?

Maybe possible if u pay full price of land?

My appartment was convert from lease to free hold...

I not sure how they do it

Maresia sumua boleh boleh!

This is like hitting a jackpot. Good value increment for your apartment

yes, price double after convert. Actually its was plan for own stay, so the gain is only on paper