Published: Fri, 03 Jun 2011
http://www.selangortimes.com/index.php?section=news&permalink=welcome-relief-for-leasehold-owners
SHAH ALAM: Residents with leasehold titles, which are fast expiring, are welcoming the RM1,000 policy that allows them to extend their leases for another 99 years.
Michael Muniandy was among those who were overjoyed to hear the news announced on Wednesday.
“It’s very good news indeed, especially for retirees like me,” said the former engineer with the Land and Mines Department.
The 78-year-old pensioner had just 20 years left on his lease for his home in one of PJ’s oldest neigbourhoods, Section 1, Jalan Carey.
He pointed out that the RM1,000 premium would be less of a financial burden on his savings and pension.
Similarly, music teacher Raymond Pragasam, 46, said the move would encourage more home ownership as prospective housebuyers have balked at having to pay hefty premiums to extend the leases.
“Our house in Section 4 has 55 years remaining [on our lease], but our neighbours around us have less than 10 years. This is good news for them,” Raymond said when met at Taman Petaling here.
Former public school teacher Ng Sik Poon, 81, said the RM1,000 amount was within the means of every resident in Petaling Jaya.
“Even if you are short of money, you would borrow the amount to secure the lease,” he said.
He pointed out that the move by the state government would assist middle-income families.
Ng added that he expects a “rush” at the Land Office as ratepayers would clamour to extend their leases.
“Too bad I just extended my lease a few years ago, and I paid quite a hefty sum based on the land size,” he said, who could not recall the amount offhand.
Pragas Marimuthu admits that he is lucky to stay on freehold land in Puchong. Nevertheless, he said it was very good news for leasehold landowners in Selangor.
The 50-year-old businessperson said the move would encourage citizens to own residential property.
“A lot of prospective housebuyers put off buying property around the Old Town and New Town housing area,” said Pragas.
He pointed out that when it came to the renewal of leases, buyers would be saddled with large amounts.
Pragas added that the unprecedented initiative showed that the government was “caring” towards the middle-income group.
Siti Hanim Mohd Nasir, 38, said the announcement was “very good news” as her home on Jalan 3/60 here has only nine years remaining.
According to her land title documents, the lease is at RM12.50 per sq ft, and the total area of her bungalow lot is around 3,400sq ft.
“I’d have to pay at least RM40,000 to renew the lease,” she said.
Section 3 Residents Association (RA) head Shamsuddin Hassansaid he was “shocked” upon receiving the news from Bukit Gasing assemblyperson Edward Lee.
“When I told my residents this morning, they told me to stop joking,” he said when met at the RA office here in Section 3, Old Town.
The 61-year-old retiree said the residents had bought all the daily newspapers in order to confirm the announcement.
He pointed out that many of the houses, some of them the oldest here in Petaling Jaya, have their leases expiring within 10 years.
Shamsuddin said it would have cost some of the residents between RM40,000 and RM50,000 to renew their leases.
“We are not earning very much, and many of us are pensioners,” he pointed out.
He said he would be accompanying the residents as soon as possible to the Land Office to take full use of the state’s initiative.
“On behalf of the residents here in Section 3, I want to say thank you very much to the state administration,” he concluded.
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