IPOH: Housing developers in Perak can now apply for the release of bumiputra property under the quota after six months, instead of two years for high-end properties and areas with majority non-Muslim occupancy, says Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu (pic).
He said the two-year period was a burden to developers, as they needed to bear the cost of damage and maintenance for the unsold units.
However, he said the sales of the units would be under the Perak Housing and Property Board.
Ahmad Faizal said if the board was unable to sell the units within six months, developers could apply for the release then.
“This is among the gist of improvements made to the Perak State Housing policy, which will be effective April 1.
“After six months, developers can apply for the release of the 50% of the bumiputra quota, with one condition that 30% of the physical development and 60% of non-bumi lots are sold.
“The application for the second release of remaining 50% of bumiputra lots can only be done when the physical construction reaches 80%, and 90% of the lots are sold,” he told a press conference at the state secretariat building here yesterday (Feb 12).
Ahmad Faizal said a fine or levy twice the normal levy would be charged to developers who sell bumiputra lots prior to gaining approvals from the state authorities concerned.
He said, on the other hand, there were also issues of interested bumiputras facing problems when told by developers that a property advertised had been sold.
“The state government agencies cannot review the legitimacy of the sales information.
“So all developers who have obtained an advertising and housing development permit are required to register with the Bumiputra Property Quota Unit in order for the board to carry out the sales within six months.
“Each sale of such units will be charged with a 2% commission,” he added.
Ahmad Faizal added that money obtained from the levy and commission charges will be used by the board to build more homes for the B40 groups.