KUCHING: The state government will speed up the strata titles for housing developers and homebuyers.
This timely assurance came from Premier Datuk Patinggi Tan Sri Abanag Johari Tun Openg who said he had requested the Land and Survey Department to issue strata titles right away after all required processes were completed.
“This is to enable the buyers to utilise the apartment or strata titles that they have.
“It will also (solve) other outstanding issues, particularly in terms of financing. Once the homebuyers and homeowners get their titles, the bank will honour whatever outstanding payment they may have, provided they have their title,” he explained.
He was speaking at the Sarawak Housing and Real Estate Developers’ Association (SHEDA) annual dinner and excellence award ceremony at the Borneo Convention Centre Kuching (BCCK) here, on Wednesday (Aug 10).
A strata title is a land title issued for multi-level apartment blocks and horizontal subdivisions with shared areas.
Having previously served as the Housing Minister and the Housing and Urbanisation Minister, Abang Johari said he had directed that the strata title should be issued speedily for the benefit of the developers and homebuyers.
Apart from that, the Premier pointed out that the state had set aside RM40 million annually to assist B40 homebuyers.
He noted that this was equivalent to the purchase of 4,000 housing units at RM10,000 in down payments per unit.
“The financing is also provided by our own Mutiara Mortgage Financing at one per cent interest rate. Where else can you get this kind of financing? Only the Sarawak government can do this.
“This means the B40 homebuyers can get RM10,000 for free as down payment, while the balance can be loaned from Mutiara at one per cent interest,” he said.
Abang Johari said the effort would allow for more people to afford a house, causing a boom in the real estate industry.
“This is how we intervene when the property sector is experiencing difficulties due to the unstable economic situation, which causes people to think twice about purchasing a home.
“I will continue to provide this assistance to the B40 group as long as I am your Premier,” Abang Johari assured.
