Property in Malaysia for sale and rent | Buy, Rent and sell real estate and homes

Do we need consent from land office to sell leasehold ? If the answer is yes, how long does it take to get consent ?

No consent needed if it's leasehold.. Freehold means - The land and building belongs to the title holder.. whereas Leasehold - The building belongs to the leased title holder, but land belongs to the Government and is leased to you for 30, 60, 99 or 999 years.This lease is however renewable, subject to a premium.

As far I am concerned, one has to check the land title, be it master,strata or individual title. Certain lands regardless of Freehold or Leasehold will need consent from state authority before disposing the land, of which the building may or may not be erected on it.

In most instances for leasehold land, you will need a consent from the State Authority. Only with this consent that the authority may keep track on the lease status and to charge a premium when it is below 30 years. If you are selling your property with a land lease of only 50 years, you may opt to renew it and pay the premium. It is pretty devastating for the buyer if the banks are not willing to finance with land lease of only 50 years.

One important point is how are land premiums calculated.

For example, is development of housing development chargeable in the same way as other
residential with commercial establishments ?

What are the criterias used to determine the increase or the maintaining of land premiums
where development is slow ?

Are reputation of developers a criteria as well ?

These are some of the questions which need some direct answers.

Any takers ?

Taking Majlis Perbandaran Selayang calculation format as follow:

For lease renewal: 1/4 x 1/100 x Nilaian Tanah Semasa x (Tempoh Pajakan baru - baki tempoh pajakan ada)

Eg. if Land Value is RM1mil @ 50 years land lease remaining

The premium will be:

1/4 x 1/100 x 1,000,000 x (99 - 50)

=RM122,500 / RM2,500 for each year (premium for extension to 99 years)

Could be quite hefty heh??

The above calculation is for residential. No idea on commercial calculation.

Chin Kim Keong wrote:



What's the difference between master, strata and individual title ?

Is OUG freehold with or without consent ?