News: Selangor deferring land premium payments, extending rental exemption to May

Jun 24, 2020

In a bid to alleviate the economic pressures brought about by the Covid-19 outbreak on developers and investors, the government of Selangor has decided to extend the period for land premium payments to 30 September for notices expiring from 1 January 2020 to 9 June 2020.

“The payment of land premiums can also be made in instalments of six months until 31 March 2021, for selected notices (5A and 7G) that have not expired,” Bernama quoted Selangor Mentri Besar Datuk Seri Amirudin as saying.

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“It is hoped that this initiative will alleviate the economic pressures on developers and investors.”

He revealed that the state government also extended the exemption on rental for properties owned by local authorities to May. The rental waiver will be subject to the same eligibility observed in April.

Amirudin also said that the state has allocated RM50,000 for the “Bakul Makanan” programme to help some 600 Selangor students who were stranded in Egypt following the Covid-19 pandemic.

He added that Selangor is now in the final stage of concluding its economic recovery plan, which it plans to unveil in July, reported Bernama.

 

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M Jamil Ali
Senior Real Estate Negotiator
REN: 03920
ACEAKL ESTATE AGENCY SDN. BHD
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