Renew is cheap
Q: How much do i have to pay to extend my lease?
A: There are 2 options:

Option A: Pay a mere RM1,000 for extension of lease
- Property cannot be resold for profit. (State Authorities will lodge in a Registrar Caveat on the property)
- The property can be transferred to family members.

Option B: Pay the premium for lease extension (currently with 30% discount)

Premium for residential property in Selangor
= (1/4) x (1/100) x (Market Value of land) x (lease period – years remaining on the lease)

Premium for commercial & industrial land in Selangor
= (3/4) x (1/100) x (Market Value of land) x (lease period – years remaining on the lease)

- Above are governed by Selangor Land Rules 2003 and Selangor Quarry Rules 2003

Premium for all categories on land use in KL
= (1/4) x (category of land use) x (1/99) x (Market Value of land) x (lease period – years remaining on the lease)

- Above is governed by the Federal Territory of Kuala Lumpur Land Rules 1995
- For strata title properties, the applications to renew the strata titles & master title may be made by the Management Corporation on authority of an unanimous resolution (under a new provision in section 90A(8) of the National Land Code)

normally they ll renew, can double confirm again with higher rank staff ?

strata more complicated than individual title
tis few big developers ll find the solution
they still hv many project havent launch