The Minimum Price Of Property That Can Be Purchased Foreigners Increased To RM1 Million

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KUALA LUMPUR, Nov 18 – The National Land Council (MTN) today agreed that the minimum price of the property to be purchased by foreigners increased from RM500,000 to RM1 million per unit. In a meeting chaired by Deputy Prime Minister Tan Sri Muhyiddin Yassin today, MTN agreed that the Guidelines on Acquisition of Property, Economic Planning Unit, Prime Minister’s Office came into force on March 1, 2014.

Paper on ‘Updating Property Acquisition Guidelines’ which enforces minimum price increase of property that can be bought by foreigners was in line with the announcement of Prime Minister Datuk Seri Najib Tun Razak during the Budget 2014. The guidelines are one of four papers and three papers considerations alerts about some important policy related to forestry and land discussed at the meeting of the 70th MTN was in the Parliament building.

According to a statement issued after the meeting between the attendees were government ministers including the related Federal Minister of Natural Resources and Environment Minister Datuk Seri G.Palanivel as well as all the great ministers and chief ministers. MTN also agree with the ‘Proposal Revised Land Tax Rates in Peninsular Malaysia for the Year 2015’ so that state authorities review the land tax rate before the expiry of 10 years from the date of the most immediate of the previous rent review date in accordance with the provisions of Section 101 of the Code National Land 1965.

Proposal on The Impact of Mining and Quarrying Activities Toward Sustainable Forest Management in Peninsular Malaysia ‘was also discussed at the meeting. The statement said that MTN agree with the proposal stating that the state governments to take the initiative to control or avoid as far as possible any approval mining and quarrying activities in the reserve forest.

Another paper discussed consideration is the ‘Proposal Regarding Impact of Land Development Activities Toward Sustainable Forest Management For Mangrove Forest Area in Peninsular Malaysia’. Through these discussions, the MTN agreed that the Mangrove Forest in existing Permanent Forest Reserve area is maintained and enhanced through the Permanent Forest Reserve gazetted areas Mangrove Forest in the State Land.

Meanwhile, three papers presented were informed about the involvement of the federal government and state governments in the REDD + mechanism (Reducing Emissions from Deforestation and Forest Degradation in Developing Countries) to mitigate the effects of climate change. Sime UEP also took note of the results of the rating Star Rating (SSR) In 2013 the Land Administration Land Office Kulim, Kedah has received five stars. The third filing paper is about ‘Arrears Settlement Development and Land Affairs Land Transfers Registration Form In A Day at the State Land Administration’ until August 2014.

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