11th December 2013
Jagdeep, who is in charge of housing, town and country portfolios, said the state government would also explore ways and means to strengthen the regulations from time to time if needed to.
“Every transaction of properties must go through the land office.
“That’s where we would enforce the regulations.
“We will use the land office to control,” Jagdeep told newsmen at the State Legislative Assembly House lobby here today.
Gerakan national legal and human rights bureau head Baljit Singh has said that the new restrictions were illegal, adding that the National Land Code must be first revised before the new housing regulations can be enforced.
Several Gerakan legal heads also cautioned that the Pakatan Rakyat state government could face lawsuits if the restrictions were imposed.
Referring to Baljit’s comments, Jagdeep said the Gerakan man was entitled to his opinion.
“On our side, we believe we can impose the restrictions on sales of properties,” said Jagdeep.
On Monday, Chief Minister Lim Guan Eng announced new housing regulations which would take effect on land and property sales and purchase agreements signed from Feb 1 next year.
The rules were intended to curb property bubble, price speculations and ensure affordable homes to Penangites, especially first time buyers.
The new rules include a five-year moratorium for affordable homes bought below RM400,000 on the island and RM250,000 on the mainland, and a 10-year moratorium for low and low-medium cost housing units priced up to RM72,500.
A 2.1% levy of the purchase price will also be imposed on the seller on sales of properties of land titles with restriction in interests.
For properties of land titles without restriction in interest, the seller will have to make a statutory declaration for sale of a property within three-years after buying it.
Jagdeep said the state government would work closely with the land and minerals department to enforce all the rules.
He said the state government was very adamant on these policies aimed to stop property speculations and spiraling prices, and to ensure a first time buyer can afford a house.
“We hope it will work. We certainly hope to stop speculations.
“We can sit down and do nothing, and see the prices continue to escalate.
“Of course we are trying to reduce the market heat by stopping speculations.
“Whether or not it will reduce the heat, we will have to wait and see.
“But the intention is there to stop speculation and ensure a first time buyer has a roof over his head,”
http://www.freemalaysiatoday.com/category/nation/2013/12/11/penang-land-office-to-monitor-property-sales/
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