Free Malaysia Today, Photo Credit to New Straits Times
clock 11-11-2019
hit 140

Zuraida Not Given Extension of Time for New Housing Schemes

Housing and Local Government Minister Zuraida Kamaruddin says her ministry is very particular in granting extension of time (EOT) for housing projects.

She said the EOT granted previously was for projects that had yet to start.


Ongoing projects don’t get such EOT easily from the government, she added.


“Under the new government, we have not given any EOT yet for ongoing projects,” she told reporters during the pre-launch ceremony for affordable housing projects by the private sector in Putrajaya today.


She was responding to claims by the House Buyers Association (HBA) that the new government is continuing the former administration’s practice of giving property developers EOT.


HBA secretary-general Chang Kim Loong told FMT he was disappointed that the ministry had approved 75% (or 46) EOT applications between January and July and 78% (or 93) EOT applications in 2018.


Chang, who in the past had criticised the Barisan Nasional government for giving EOT at the expense of house buyers, said the reasons cited by the ministry were “unacceptable”.


Under the statutory sale and purchase agreement (SPA), a housing developer is supposed to complete and hand over a unit to a buyer within a stipulated time frame – 24 months for a landed property and 36 months for a stratified property.


Failure will result in the developer having to pay damages to the buyer.


However, under special circumstances, the developers can appeal to the housing controller or the urban wellbeing, housing & local government minister for an EOT, which allows them to extend the delivery date of the unit without needing to pay such damages.




WHAT DO YOU FEEL ABOUT THIS?

0
LOVE
0
HAPPY
0
SURPRISED
0
SAD
0
ANGRY


COMMENTS
Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment.

SIGN UP NEWSLETTER

logo
Monthly Column
The staple of your property-related materials. It's all about being ahead of the game and with The Column, you get carefully selected information that will keep you informed and running with the pack. The best news, articles and properties on the market from the Property Hunter portal, conveniently wrapped and ready, just for you.

logo
Weekly Window
Your weekly dose of what's hot and what's not in property. The window is your view into the realm of real estate in Malaysia, curated from our portal based on the most popular pieces over the week. For those who just can't get enough, this is for you. Ain't nobody got time for dailies anymore, weekly is the new daily.