Adopt Penang’s commercial lease extension rebates, Selangor told

Free Malaysia Today

The National House Buyers Association’s ‘ultimate goal’ is for leasehold land in PJ to be converted to freehold, based on the area’s original title.   Read More:   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #Penang #Selangor #CommercialLease

Transcript

00:00The National House Buyers Association has urged Selangor to charge a nominal fee of

00:075,000 ringgit or emulate Penang by offering discounts of up to 80% to extend leasehold

00:12titles for commercial properties.

00:15This is after shop owners in Petaling Jaya Old Town were asked to fork out almost 1 million

00:19ringgit to extend the 60-year leases of commercial properties.

00:24HBA Secretary General Chang Kim Lung, who is representing the shop owners, said his

00:29immediate priority is to ensure they get their lease extended at an affordable price

00:33given that some are expiring at the year-end.

00:37Selangor Metribasar Amiruddin Shahri said his government is looking at ways to make

00:41lease extensions more affordable, especially for commercial properties, adding that the

00:45matter will be referred to the Selangor Land Office.

00:49But the ultimate goal, Chang said, is for leasehold land in PJ to be converted to freehold

00:55based on the area's original land title.

00:58The land that PJ stands on now used to be a rubber plantation that belonged to Effingham

01:02estate, said Chang, and the original title was freehold.

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Transcript

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