Call to ex­pe­dite af­ford­able homes process

The Sun (Malaysia) - - SUNBIZ -

PETAL­ING JAYA: Bina Daru­la­man Bhd (BDB), a Kedah-based property de­vel­oper, has asked that the gov­ern­ment ex­pe­dite the process of de­liv­er­ing af­ford­able homes to the mar­ket by pro­vid­ing a green lane in ap­prov­ing de­vel­op­ment sub­mis­sions such as de­vel­op­ment or­ders, land mat­ters and build­ing plan.

Its group man­ag­ing di­rec­tor Datuk Izham Yu­soff said in a statement yes­ter­day that the in­dus­try would also wel­come a re­duc­tion in de­vel­op­ment charges, which would help to ease pres­sure on mar­gins.

He added that de­vel­op­ers de­vel­op­ing first time home buy­ers schemes should be given in­cen­tives in the form of a com­bi­na­tion of tax in­cen­tives, dis­counts on de­vel­op­ment charges and ex­pe­dit­ing ap­proval process.

Izham said BDB would like to see the bot­tom 40 (B40) and mid­dle 40 (M40) house­hold in­come cat­e­gories to be ac­corded more flex­i­bil­ity fi­nanc­ing in terms of mar­gin, loan-to­value ra­tio and ap­proval process es­pe­cially for first-time home­buy­ers.

“BDB also be­lieves that ex­tend­ing the loan ten­ure from 35 years to 40 years will ben­e­fit the mar­ket con­sid­er­ing the first-time home­buy­ers’ fi­nan­cial ca­pa­bil­ity.

“In­creas­ing the per­cent­age of with­drawal from EPF to pur­chase house or re­duc­ing mort­gage re­pay­ment will help ease house buyer to not only re­duce their up­front com­mit­ment but also their monthly com­mit­ment,” he added.

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