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> Bumi discount vs Bumi Quota vs Bumi Lot, Bumi discount vs Bumi Quota vs Bumi Lot (Investment)

mangoproperty
post Sep 12 2018, 12:03 PM, updated 2w ago

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I have a question regarding Bumi discount vs Bumi Quota vs Bumi Lot.

If I buy a unit from developer with bumi discount. In KL.

1.) can I resell it to non bumi once completed?

2.) is there restrictions from authorities to resell to non bumi ? Eg. Pay penalty

3.) SPA doesn’t state anything about bumi lot, how about In the title in the future.

4.) is there any difference between bumi discount unit, bumi quota, or bumi lot ?




alextan99
post Sep 12 2018, 12:19 PM

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if the title is not a bumi lot impossible they will give you discount for bumi. Maybe there's some hidden clause but its a pain in the ass to sell to non bumi if the title is a bumi lot.

Lots of procedures and takes a long time but not 100% can be changed to a non bumi title
mroys@lyn
post Sep 12 2018, 12:22 PM

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QUOTE(mangoproperty @ Sep 12 2018, 12:03 PM)
I have a question regarding Bumi discount vs Bumi Quota vs Bumi Lot.

If I buy a unit from developer with bumi discount. In KL.

1.) can I resell it to non bumi once completed?

2.) is there restrictions from authorities to resell to non bumi ? Eg. Pay penalty

3.) SPA doesn’t state anything about bumi lot, how about In the title in the future.

4.) is there any difference between bumi discount unit, bumi quota, or bumi lot ?
*
your SPA has no land title?
mroys@lyn
post Sep 12 2018, 12:25 PM

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QUOTE(alextan99 @ Sep 12 2018, 12:19 PM)
if the title is not a bumi lot impossible they will give you discount for bumi. Maybe there's some hidden clause but its a pain in the ass to sell to non bumi if the title is a bumi lot.

Lots of procedures and takes a long time but not 100% can be changed to a non bumi title
*
bumi discounts and bumi land title is two separate things. you can get bumi discounts without bumi land title restrictions.
MeToo
post Sep 12 2018, 12:26 PM

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QUOTE(alextan99 @ Sep 12 2018, 12:19 PM)
if the title is not a bumi lot impossible they will give you discount for bumi. Maybe there's some hidden clause but its a pain in the ass to sell to non bumi if the title is a bumi lot.

Lots of procedures and takes a long time but not 100% can be changed to a non bumi title
*
Which also means the property appreciation is much lower then a comparable non-bumi lot.
AskarPerang
post Sep 12 2018, 12:43 PM

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For bumi buyer, it is never wise to buy non bumi lot.
Just take the bumi discounts / bumi quota / bumi lot.
For undercon property or susbsale property still under master title.

Coz at the end of the day, developer will oversell out the non bumi quota. And your unit will end up being converted into bumi lot also. Coz you are a bumiputera. Maybe reputable developer wont do so. But why take risk on that?
mangoproperty
post Sep 12 2018, 12:49 PM

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QUOTE(mroys@lyn @ Sep 12 2018, 12:22 PM)
your SPA has no land title?
*
SPA doesn’t state that, but I got bumi discount
mangoproperty
post Sep 12 2018, 12:52 PM

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QUOTE(AskarPerang @ Sep 12 2018, 12:43 PM)
For bumi buyer, it is never wise to buy non bumi lot.
Just take the bumi discounts / bumi quota / bumi lot.
For undercon property or susbsale property still under master title.

Coz at the end of the day, developer will oversell out the non bumi quota. And your unit will end up being converted into bumi lot also. Coz you are a bumiputera. Maybe reputable developer wont do so. But why take risk on that?
*
I’ve gotten the bumi discount from developer , 2) it doesn’t state anything on the SPA about bumi, 3.) still undercon. 4.) can I resell to non bumi in the future?
AskarPerang
post Sep 12 2018, 12:54 PM

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QUOTE(mangoproperty @ Sep 12 2018, 12:52 PM)
I’ve gotten the bumi discount from developer , 2) it doesn’t state anything on the SPA about bumi, 3.) still undercon. 4.) can I resell to non bumi in the future?
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Leasehold or freehold property?
mangoproperty
post Sep 12 2018, 01:10 PM

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QUOTE(AskarPerang @ Sep 12 2018, 12:54 PM)
Leasehold or freehold property?
*
FH, HDA
mangoproperty
post Sep 12 2018, 01:45 PM

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QUOTE(AskarPerang @ Sep 12 2018, 12:54 PM)
Leasehold or freehold property?
*
Will the title at any point indicates it’s a bumi discounted or bumi quota or bumi lot unit title ?
AskarPerang
post Sep 12 2018, 01:49 PM

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QUOTE(mangoproperty @ Sep 12 2018, 01:10 PM)
FH, HDA
*
QUOTE(mangoproperty @ Sep 12 2018, 01:45 PM)
Will the title at any point indicates it’s a bumi discounted or bumi quota or bumi lot unit title ?
*
Yes no wander bumi discount the term is used.
For freehold property (except Cyberjaya), you are free to sell to anyone after getting strata title.
mroys@lyn
post Sep 12 2018, 02:11 PM

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QUOTE(mangoproperty @ Sep 12 2018, 12:49 PM)
SPA doesn’t state that, but I got bumi discount
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normally any restrictions will be stated in the land title regardless it's master title or individual strata title.
mangoproperty
post Sep 12 2018, 02:18 PM

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QUOTE(AskarPerang @ Sep 12 2018, 01:49 PM)
Yes no wander bumi discount the term is used.
For freehold property (except Cyberjaya), you are free to sell to anyone after getting strata title.
*
What do you mean by ‘yes no wander bumi discount the term is used’
mangoproperty
post Sep 12 2018, 02:19 PM

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QUOTE(AskarPerang @ Sep 12 2018, 01:49 PM)
Yes no wander bumi discount the term is used.
For freehold property (except Cyberjaya), you are free to sell to anyone after getting strata title.
*
If leasehold bumi then cannot sell to non bumi? Under what circumstance it can’t be sold to non bumi? Base case is I’ve taken bumi discount.
mroys@lyn
post Sep 12 2018, 02:19 PM

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QUOTE(AskarPerang @ Sep 12 2018, 12:43 PM)
For bumi buyer, it is never wise to buy non bumi lot.
Just take the bumi discounts / bumi quota / bumi lot.
For undercon property or susbsale property still under master title.

Coz at the end of the day, developer will oversell out the non bumi quota. And your unit will end up being converted into bumi lot also. Coz you are a bumiputera. Maybe reputable developer wont do so. But why take risk on that?
*
i came across some cases where both bumi buyers got their bumi discounts but one with bumi lot restrictions and one without. this happened on the malays reserve land where state gov required certain percentage of bumi quota to be fulfilled.
AskarPerang
post Sep 12 2018, 02:26 PM

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QUOTE(mangoproperty @ Sep 12 2018, 02:18 PM)
What do you mean by ‘yes no wander bumi discount the term is used’
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QUOTE(mangoproperty @ Sep 12 2018, 02:19 PM)
If leasehold bumi then cannot sell to non bumi? Under what circumstance it can’t be sold to non bumi? Base case is I’ve taken bumi discount.
*
Is just marketing term. Leasehold bumi want sell to non bumi must appeal to the authority.

danielmckey
post Sep 12 2018, 02:30 PM

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Bumi Lot cannot sell to Non-bumi & Only Bumi Lot can sell to Bumi.

Maybe yoy can read it here.

https://loanstreet.com.my/learning-centre/b...rgons-explained

This post has been edited by danielmckey: Sep 12 2018, 02:33 PM
mangoproperty
post Sep 12 2018, 02:51 PM

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QUOTE(danielmckey @ Sep 12 2018, 02:30 PM)
Bumi Lot cannot sell to Non-bumi & Only Bumi Lot can sell to Bumi.

Maybe yoy can read it here.

https://loanstreet.com.my/learning-centre/b...rgons-explained
*
Already read everything online, even asked lawyers and SAs. All cannot answer. Then I come here
danielmckey
post Sep 12 2018, 03:01 PM

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QUOTE(mangoproperty @ Sep 12 2018, 02:51 PM)
Already read everything online, even asked lawyers and SAs. All cannot answer. Then I come here
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If you cannot find answer here. Then straight ask Prime Minister.

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