AFFORDABLE HOMES’ PRICE CAP CUT BY RM20,000
Revised policy provides a win-win situation for buyers, developers
THE Selangor government has reduced the maximum price for “Rumah Selangorku” affordable homes by RM20,000 in a bid to provide more opportunities for city dwellers to own properties.
Menteri Besar Amirudin Shari yesterday announced that the lowered price came under the state’s revised policy called “Rumah Selangorku 2.0”, which will see the range readjusted from RM42,000 and capped at RM230,000.
Previously, the maximum price was RM250,000.
He said “Rumah Selangorku 2.0” came about following efforts in February to relook and improve policies of affordable home schemes, which were first implemented in 2014.
“The new policy, which has been known as ‘Rumah Selangorku 2.0’ since April, provides a win-win situation for buyers and developers. We lowered the maximum price of up to RM250,000 previously to RM230,000.
“I hope with the RM20,000 reduction, it will ease the burden of buyers facing end-financing problems. We hope to also boost the number of home ownership in the state through this move.
“As for developers, we have reduced the percentage of ‘Rumah Selangorku’ homes that they have to build from 50 per cent to 40 per cent, and brought down the size of each unit from 1,000 sq feet to 900 sq feet, while maintaining the density of up to 120 units per acre,” said Amirudin.
He added that developers were being conditioned to provide detailed specifications of units to buyers to avoid cases of unsatisfactory home finishing, which had occurred in the past.
Amirudin said this after officiating the Selangor Price Control Property Development Seminar organised by the state government and the Selangor Housing and Property Board at the Shah Alam Convention Centre.
The one-day seminar, attended by more than 300 property industry representatives, was a platform for the state government to explain policies, as well as improvements that came under Rumah Selangorku 2.0.
Amirudin said from 2014 to last month, 204 affordable home projects involving 104,460 units had been approved by the Selangor executive council.
A total of 6,303 units had been completed and the keys handed over to the owners.
Some 22,336 units are in the process of being built and owners will receive their keys in stages until 2022. For the next phase, Amirudin said the state government had set a target to build 30,000 more Rumah Selangorku homes until 2023.