PRIVILEGES:Owners only need to pay flat rate of RM1,000 to change land status
KAMPUNG Baru landowners would be allowed to redevelop their land by paying a fixed rate to amend the land use category
Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin, while officiating the Kg Baru Development Corporation exhibition, said this was to motivate interested lot owners.
"Instead of paying the normal premium rate, they will only be charged a nominal fee of RM1,000 per lot for them to change the land use category and conditions before redeveloping their lots."
"The other is the remission charge on the premium to be exempted for this purpose. This will help owners to kick-start discussions with the corporation or among themselves in redeveloping Kampung Baru as a modern Malay village," said Raja Nong Chik.
Federal Territories Land and Mines director Datuk Hasim Ismail later explained that under normal circumstances, land owners would need to pay a certain premium to change the land use for redevelopment purposes.
"Land owners have to pay a certain amount calculated on percentage based on what the category change is.
"For instance, if the land is priced at RM700 per 0.09 sq m, and the owners intend to have it changed from residential to commercial, they are required to pay a premium of 25 per cent of the land price per 0.09 sq m.
"So, if a RM175 premium is charged per 0.09 sq m, for 0.4 ha land, the land owner would have to fork out some RM7 million just for the premium charges based on the calculation.
"With this new incentive, the land owners are only required to pay RM1,000 per lot, which can reduce the development cost considerably," he said before handing appointment letters to board and advisory members of the corporation.
It was reported that Kampung Baru, which sits on prime land in Kuala Lumpur's golden triangle, was proposed for redevelopment to give a facelift to the 110-year-old enclave of villages.
One of them is the Puncak Baru mixed development project, which was mooted a few years ago, but had hit a snag due to the ongoing discussion with market traders there.
The joint-venture redevelopment between City Hall and Naza TTDI Sdn Bhd on Lot 3338 in Jalan Raja Muda Musa will include a 43-storey apartment block with facilities including shops, surau, multi-purpose hall, while the other 47-storey block will house office lots.