Budget 2023: Stamp duty exemption increased for premier properties


PETALING JAYA: Houses worth from RM500,000 to RM1mil will enjoy an increase in stamp duty exemption from 50% to 75% until Dec 31, 2023.

Stamp duties for transfer of property between families is subject to a stamp duty of RM10.

The allocation for building new and renovating houses in rural areas has been increased from RM367mil to RM460mil.

A RM367mil allocation has been provided for People's Housing Projects in urban areas including new projects in Marang Terengganu and Arau, Perlis which will benefit 12,400 people.

4,250 housing units worth RM358mil will be built under the Rumah Mesra Rakyat program.

The 100% stamp duty exemption for first-time homeowners remains, applicable for properties priced RM500,000 and below through the Keluarga Malaysia Home Ownership Initiative (i-Miliki) initiative from June 1, 2022 to December 2023.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Housing , Stamp Duty , Property , Low-Cost Housing , PPR

   

Next In Nation

Two men injured in NGV cylinder explosion at petrol station
RapidKL: Expect delays on Kelana Jaya LRT line due to technical glitch
Padang Serai PN candidate gives statement to police on 'kerajaan zina' remarks
Bukit Aman: Hadi to be probed for calling PM an 'agent of Israel'
Go ahead and lodge report, I can go to Bukit Aman, says Hadi
Return of Sabah’s 40% net revenue among issues discussed at state assembly sitting
Woman escapes with minor injuries after nasty collision with lorry
Bukit Aman: 152 bookies nabbed over World Cup betting
Association successfully raises RM318,800 for UTAR Hospital, says Dr Wee
Peter Anthony uses Sabah budget debate to apologise for 'words, actions' during GE15

Others Also Read