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Investment Bumi discount vs Bumi Quota vs Bumi Lot, Bumi discount vs Bumi Quota vs Bumi Lot
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mroys@lyn
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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?
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mroys@lyn
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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.
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mroys@lyn
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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 normally any restrictions will be stated in the land title regardless it's master title or individual strata title.
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mroys@lyn
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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.
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