HBA: Maintain 3% deposit

Chang: The deposit is also to ensure that only developers who have the financial and technical capability are given the work.

KUALA LUMPUR: The Housing and Local Government Ministry has exempted 122 developers from having to pay the requisite 3% deposit of gross construction cost between 2016 and November 2019 when undertaking housing development projects.

Deputy Housing and Local Government Minister Datuk Raja Kamarul Bahrin Shah told the Dewan Rakyat last week that the exemptions were given as an “incentive” to developers to build affordable units priced below RM350,000.