It has been 2 months since the land tenure of 99 has been extended to 999 and people have questions! Do you or a friend have a land tenure that could qualify for restoration or extension to 999? This Facebook live discussion is for you.
Group Managing Director of Remajaya, Datuk Chua Soon Ping and Director of Sabah Lands and Surveys Department, Bernard Liew was interviewed and answered viewer’s enquiries last Saturday night on the relevant and hot topic. They revealed the benefits of a 999-year tenure, who and who is not qualified, how to apply and additional very insightful tips on the matter.
Once the restoration and extension was announced by the government, the land survey office received an influx of applicants trying to get their land tenure extended. However, with little knowledge or understanding, many have wasted time and money as not everyone is qualified and most do not know the appropriate procedure to apply. In light of this, the discussion and presence of land surveyor, Bernard Liew was very important and crucial to clearing up confusion amongst the audience.
Firstly, what are the benefits of a 999-year land over 99 land?
- Long Line of Inheritance - with a longer tenure, your land will be able to go beyond 30 generations
- Higher market value - a premium of 10% - 20% at the same location
- Easier to secure financing - Banks are more willing to loan money to both developers and purchasers
- Foreign investment - Easier to attract foreign ownership with investments such as with the MM2H program
Now, before rushing to reap the benefits, you must ensure that you are qualified! This was the main takeaway of the night and Liew suggested you take these 3 steps before walking into the land surveyor office.
To check if you qualify, first:
- Check the terms of your land’s original title.
You see, in 1918, subdivided land titles were reduced from 999 years term to 99 years due to conversion/subdivision. These parent titles are qualified for the restoration and therefore, before making an application, be sure to check the original title if possible to see if it was 999 years.
- Look at your neighbouring lots in your housing area.
If your neighbours are getting restored land titles, then you are qualified as the houses in your area will carry the same parent land title.
Since the application has a cost of RM1000, a viewer poised the question of whether it would be better for residents of a neighbourhood to apply as a group. Liew answered that yes this is possible but even better would be that the developer of the neighbourhood should take the responsibility to apply. This extremely useful piece of information will save many people lots of money so be sure to check with your developer and neighbouring landowners.
- Lastly, you may write into the land survey office if you are not sure.
If you have reviewed this full video for all of Liew’s advice and insight and checked the preceding steps but you are still uncertain, you may write into the office.
To write in or apply for a land restoration/extension, you may visit the Sabah Lands and Surveys Department here.
Watch the full live discussion for a more in-depth explanation of the subject matter here.