Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Friday, September 26, 2008

Government gives RM100m more for housing scheme

PUTRAJAYA: The government will allocate an additional RM100 million for this year and next to implement the Rumah Mesra Rakyat (RMR) housing scheme, said Finance Minister Datuk Seri Najib Razak.

In announcing this yesterday, he said the allocation would enable some 1,500 units to be built nationwide under the RMR scheme by Syarikat Perumahan Negara Bhd (SPNB), a wholly owned subsidiary of Ministry of Finance Inc.

“The RMR scheme is aimed at helping the rakyat who have less than RM1,500 household income to own a more comfortable home,’’ he said, adding that these people would find it hard to secure loans from financial institutions.

Najib, who is also deputy prime minister, said applicants for the housing scheme must, however, own the land on which the house would be built or obtain statutory consent to occupy the land owned by their close relations.

“The applicants must also be aged between 21 and 65 in order to be eligible,’’ he added.

Najib said that the land owner would bear only two-thirds of the cost of building the house in the form of an interest-free loan through the Al-Qardhul Hassan concept while the balance would be borne by the government.

He said the owner was required to pay RM150 per month for a period of 23 years to 29 years for a house measuring between 700 sq ft and 900 sq ft. The cost of building a house is estimated at RM70,000 to RM80,000, depending on the location.

Najib said that since the introduction of the scheme in 2002, 6,551 units had been built at a cost of RM310 million while a further 6,263 units costing RM425 million were under construction and expected to be completed by March next year.

By The EDGE Malaysia (by Yong Min Wei)

No comments: