THE Government has proposed that the 50% stamp duty exemption be extended
to loan agreements to further reduce the cost of buying medium-cost houses
of up to RM250,000.
Before that, a 50% stamp duty exemption was given only on the instrument
of transfer for the purchase of medium-cost houses.
At present, buyers of low-cost houses are given full stamp duty exemption
on all instruments, including loan agreements.
> The Government will extend the tenure of new government housing loans
from 25 years to 30 years as well as provide loan facility for renovation
work on houses not purchased through government housing loans.
It will also extend the housing loan insurance panel to all eligible
insurance companies from the present five insurance companies,
> An allocation of RM330mil is provided to the National Housing Department
to complete 6,500 units to be rented out or owned under the People’s
Housing Programme in 2009.
In addition, Syarikat Perumahan Negara Berhad will build 33,000 low-cost
> The Government will increase the Housing Credit Guarantee Scheme fund to
RM100mil, enabling it to guarantee loans amounting to RM2bil.
About 40,000 borrowers will benefit from this scheme, from which borrowers
can get housing loans from all local financial institutions to purchase
low- and medium-cost houses.