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 Penang Land Ownership issue, leasehold to freehold?

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TSkbandito
post Jul 4 2008, 03:36 PM, updated 16y ago

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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
tinkerbel
post Jul 4 2008, 03:37 PM

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@kbandito,
U mean to convert all leasehold land into freehold titles?
NaMyzarC
post Jul 4 2008, 03:37 PM

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leasehold = 99 yrs ? no ? hmm.gif
TSkbandito
post Jul 4 2008, 03:38 PM

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I mean from 99 years ownership to permanent ownership. smile.gif
tinkerbel
post Jul 4 2008, 03:40 PM

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@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 tongue.gif
TSkbandito
post Jul 4 2008, 03:47 PM

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QUOTE(tinkerbel @ Jul 4 2008, 03:40 PM)
@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 tongue.gif
*
Ya right I meant that. smile.gif
That's the reason why I started this thread, just want to find out is there any news on this good move. rclxms.gif
harrychoo
post Jul 4 2008, 03:54 PM

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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?
tinkerbel
post Jul 4 2008, 04:27 PM

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@harrychoo,
Hence since directive been issued on conversion, if U haf to go get it converted, quickly do it! biggrin.gif
harrychoo
post Jul 4 2008, 04:34 PM

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QUOTE(tinkerbel @ Jul 4 2008, 04:27 PM)
@harrychoo,
Hence since directive been issued on conversion, if U haf to go get it converted, quickly do it! biggrin.gif
*
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
tinkerbel
post Jul 4 2008, 04:41 PM

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@harrychoo,
If that is the case, go as soon as ur eligible, don't wait biggrin.gif 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.

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