If the market price is high
Posted: Sat Dec 28, 2024 8:38 am
But how much do you have to pay? For properties in Kuala Lumpur, the premium payment is determined using the following formula: 1/4 x 1/99 x Land Market Price (RM/sf) x (Lease period – remaining years of lease) x Land Area (sqft) real estate consultant course Meanwhile, for properties in Selangor, there are two payment options. Option 1 Pay full premium using the formula: 1/4 x 1/100 x Land Market Price (RM/sf) x (Lease Period – Remaining Years of Lease) x Land Area (sqft) Option 1 gives you flexibility.
You can sell the house at any time. Option 2 Pay only RM1000 to buy benin whatsapp number database extend the term to 99 years. If you choose option 2, a caveat will be placed in the grant to prevent you from selling the house to a third party. If you decide to sell, you will need to pay the full premium at the time of transaction. As you can see above, the formula to calculate this premium depends on the market price of the property.
then the premium can also be high. But don't worry too much, if the market price is high it's worth renewing the lease term. The land may also be worth more after it's renewed. Leasehold Property Transfer Process leasehold property transfer The process of transferring ownership of leasehold properties is more complicated. Since the land is not your absolute right, any transfer of ownership must obtain permission from the state government.
You can sell the house at any time. Option 2 Pay only RM1000 to buy benin whatsapp number database extend the term to 99 years. If you choose option 2, a caveat will be placed in the grant to prevent you from selling the house to a third party. If you decide to sell, you will need to pay the full premium at the time of transaction. As you can see above, the formula to calculate this premium depends on the market price of the property.
then the premium can also be high. But don't worry too much, if the market price is high it's worth renewing the lease term. The land may also be worth more after it's renewed. Leasehold Property Transfer Process leasehold property transfer The process of transferring ownership of leasehold properties is more complicated. Since the land is not your absolute right, any transfer of ownership must obtain permission from the state government.