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
Penang Land Ownership issue, leasehold to freehold?
Penang Land Ownership issue, leasehold to freehold?
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Jul 4 2008, 03:36 PM, updated 16y ago
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#1
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Senior Member
1,172 posts Joined: May 2005 |
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 |
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Jul 4 2008, 03:37 PM
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#2
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13,469 posts Joined: Dec 2006 From: KL, Malaysia |
@kbandito,
U mean to convert all leasehold land into freehold titles? |
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Jul 4 2008, 03:37 PM
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#3
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1,140 posts Joined: Feb 2005 |
leasehold = 99 yrs ? no ?
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Jul 4 2008, 03:38 PM
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#4
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1,172 posts Joined: May 2005 |
I mean from 99 years ownership to permanent ownership.
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Jul 4 2008, 03:40 PM
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#5
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13,469 posts Joined: Dec 2006 From: KL, Malaysia |
@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 |
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Jul 4 2008, 03:47 PM
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#6
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1,172 posts Joined: May 2005 |
QUOTE(tinkerbel @ Jul 4 2008, 03:40 PM) @kbandito, Ya right I meant that. 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 That's the reason why I started this thread, just want to find out is there any news on this good move. |
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Jul 4 2008, 03:54 PM
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#7
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3,589 posts Joined: Mar 2005 From: Bolehland |
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? |
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Jul 4 2008, 04:27 PM
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#8
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13,469 posts Joined: Dec 2006 From: KL, Malaysia |
@harrychoo,
Hence since directive been issued on conversion, if U haf to go get it converted, quickly do it! |
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Jul 4 2008, 04:34 PM
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#9
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3,589 posts Joined: Mar 2005 From: Bolehland |
QUOTE(tinkerbel @ Jul 4 2008, 04:27 PM) @harrychoo, I think the state government is doing it area by area if not mistaken..i'm not sure though.Hence since directive been issued on conversion, if U haf to go get it converted, quickly do it! Btw, penang properties really crazy being goreng by investors like goreng shares |
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Jul 4 2008, 04:41 PM
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13,469 posts Joined: Dec 2006 From: KL, Malaysia |
@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. |
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