It was on the paper about the State Government allows the Penangites to convert the leasehold land to freehold.
Is it true?

-Edited-

This post has been edited by kbandito: Jul 4 2008, 03:47 PM

@kbandito,
U mean to convert all leasehold land into freehold titles?

leasehold = 99 yrs ? no ?

I mean from 99 years ownership to permanent ownership.

@kbandito,
I haven't been following the news on this but the Penang State Government did issue a statement to say they will allow ALL residential leasehold property to be converted into a freehold property.

Also, there really is no permanent ownership cause we're all stewards

Ya right I meant that.
That's the reason why I started this thread, just want to find out is there any news on this good move.

Yes, it was.

I heard those landed at Bayan Baru areas had been converted from leasehold to freehold.

Whether all the leasehold properties in Penang will be converted still remain a doubt as LGE just newly taken the office and had more important tasks to deal with (PORR, monorail, bridge).

And time is also a question, will they still remain in office after next election?

@harrychoo,
Hence since directive been issued on conversion, if U haf to go get it converted, quickly do it!

I think the state government is doing it area by area if not mistaken..i'm not sure though.

Btw, penang properties really crazy being goreng by investors like goreng shares

@harrychoo,
If that is the case, go as soon as ur eligible, don't wait Also, what do U expect of these developers? They're done with KL so it's now PG and JB's turn *grins*

Also, personally I don't see how this conversion from leasehold to freehold is going to affect the entire market in PG since everyone will be on equal playing field.