KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak today announced the implementation of the MyDeposit scheme, which not only aids the middle-income group secure homes, but also provides incentives for developers of affordable homes.
Under MyDeposit, or the First Home Deposit Scheme, the government would also allocate discounts of up to RM30,000 for house buyers.
"This is to assist the M40 group, or those with household income of between RM3,000 and RM9,000," said Najib in an announcement in Parliament today, after chairing the National Housing Council meeting here.
Applications for the scheme can be made online at the National Housing Department website beginning tomorrow.
Najib said the recalibrated 2016 Budget's move to offer RM300,000-properties for first time buyers would take effect this month.
To encourage developers to build more houses priced at the RM300,000 range, Najib said the deposit rate would be fixed at RM200,000 for such units instead of three per cent of the gross development cost.
"As for mixed development, the deposit will be based on the remaining development (progress) of houses priced above RM300,000."
He said the Affordable Homes Carnival is also scheduled to kick-off in Serdang this July, where more than 50,000 new units would be on sale.
After his announcement, Najib proceeded to witness the exchange of agreement documents between Tenaga Nasional Bhd chief corporate officer Datuk Roslan Ab Rahman and PR1MA chief executive officer Datuk Abdul Mutalib Alias to build 786 houses in Kajang.
Najib said 50 per cent of the residential units would be allocated for TNB staff while the rest would be open to eligible buyers.