New housing policy for Negeri Sembilan increased Bumiputera ownership

The new housing policy for Negeri Sembilan, which among others has increased the Bumiputera ownership quota to 50 per cent from 30 per cent previously, effective yesterday.

According to Menteri Besar Datuk Seri Mohamad Hasan, the policy also stipulates that 50 per cent of every new housing project must consist of affordable houses.

“After going through discussions with the Real Estate and Housing Developers’ Association (Rehda) Negeri Sembilan, finally the policy can be enforced.

“The policy provides benefits to all levels of society including the public, developers and the state government,” he said in a media conference here today.

Mohamad also said the state government increased the Bumiputera ownership quota to 50 per cent because 70 per cent of residents in the state comprise Malays and Bumiputeras.

Besides that, it was also to create a harmonious environment in the community in any residential area, he said.

“The government also does want to see a family occupying a low-cost house with only one room. Hence, we make a condition that for every new housing project, 50 per cent of houses must consist of affordable housing,” he said.

He said out of the 50 per cent quota for affordable houses, 15 per cent must be priced at RM80,000 and below, another 15 per cent at RM250,000 and below and 20 per cent at RM400,000 and below.

“As for the remaining 50 per cent of houses that will be built, it’s up to the developers to fix the prices,” he added.

Mohamad added that houses priced at RM80,000 and below must be in the form of landed residential units with sizes of not less than 20 feet by 60 feet, and will not be given Bumiputera discount.

“This is because poverty knows no race…Whoever is qualified to buy this category of houses will buy them at the price fixed by the developers,” he said.

Apart from that, a Bumiputera housing portal will also be developed to facilitate Bumiputera buyers in finding their dream houses.

“It will list the Bumiputera lots that have not been sold. After this, it is hoped that the developers would no longer complain about the difficulty in selling the Bumiputera lots,” he said.

Meanwhile, the state government would also propose to the developers that undertake housing projects spanning 40.47 hectares to provide public transportation system in the residential areas.

Source : http://www.propertyguru.com.my/property-news/2015/6/97195/new-housing-policy-for-negeri-sembilan-increased-bumiputera-ownership