Before a year ago.
Commercial buildings do not require developer's license and advertising permit. Residential, however, does so. The Housing Developer Act (Control and License) 1966 (Act118) and the Housing Developers Regulation are aimed to protect the interest of house buyers. However, it does not apply on commercial units such as hotels, business premises, etc.
A mixed development of serviced apartments with shop lots.
It does not require developer's license and advertising permit - hence, trimming down the process reducing period of development process and cost. The Housing Developers Act and Regulations do not apply - hence, clients or developers are free to influence sales and purchase agreement to their advantages.
Clever.
It has changed since April last year in 2007. The Ministry of Housing and Local Government issued a new terms and conditions to apply for the developer license and advertising permit. Hence, no more of those clever schemes, and to expect new ones to come soon.
I might be wrong though. I'm not that a very good listener. Heh.
Commercial buildings do not require developer's license and advertising permit. Residential, however, does so. The Housing Developer Act (Control and License) 1966 (Act118) and the Housing Developers Regulation are aimed to protect the interest of house buyers. However, it does not apply on commercial units such as hotels, business premises, etc.
A mixed development of serviced apartments with shop lots.
It does not require developer's license and advertising permit - hence, trimming down the process reducing period of development process and cost. The Housing Developers Act and Regulations do not apply - hence, clients or developers are free to influence sales and purchase agreement to their advantages.
Clever.
It has changed since April last year in 2007. The Ministry of Housing and Local Government issued a new terms and conditions to apply for the developer license and advertising permit. Hence, no more of those clever schemes, and to expect new ones to come soon.
I might be wrong though. I'm not that a very good listener. Heh.
8 comments:
This is interesting.. altho i need to clarify..
"Commercial buildings do not require developer's license and advertising permit. Residential, however, do not." ---
--so do u mean both residential and commercial do not require permit/license?
Its interesting how its different now.. If commercial developers now require license, and advert permits, do u think its part of govt's way of controlling the real estate prices in commercial units?
With the panic emergence of luxurious condos these days, i think the Act should propose higher license/permit tariffs to developers of luxurious housings esp. condominiums instead. One unit on average is costing $500k. Prices need to be controlled because there are far too many coming up and developers wud find it a prob. getting them sold at that RM500k rate.
Especially,when it is expected that Msia wud join the wagon of economic downturn at least by end of this yr...
That means, there's gonna b a lot of empty new condos around...
I;m sorry this is about a your previous post..
"Once I had John Mayer listened to my songs I sent to his private e-mail and he begged me to quit playing the guitar publicly or he’ll be in deep s**t. Yes, those are his exact words" (NJB,2008)
YOU CONTACTED JOHN HOT MAYER???????????? AND HE REPLIED???????????????????!!!!!!!!!
oh, my mistake. commercial buildings did not need the DL and AP, but residential did. and now, both need to apply for DL and AP.
and there are organizations that protect house/residential buyers. but not commercial properties.
well, 500k, a high end condo, especially on freehold, on a good land, is not actually that hard to sell. but yes price need to be controlled. BUT PLS CONTROL THE MATERIALS, IMPORT/EXPORT TAXES, CONSTRUCTION COSTS, CONTRACTORS/LABORS AS WELL! altho i'm not that passionate to defend the developers, but it is nature of the business, price of oil and metal going up, delivery and construction cost increase, bla3 yada3 price of properties getting more expensive from year to year. and if ure talking about the amount of condos, ckp kat majlis bandaran ah apsal approve byk sgt building consent- which discussion may bring to the darker side of things. heh.
and owh empty condos mmg le if buat kat batu 3 mmg susah jual ah. but yeah sucks to be that developer then.
there'll be 'bangsar south' coming soon. not developed by us, but its a cool new landmark- mcm kl sentral/midvalley kind of thing. opposite menara telekom across federal highway. syok2 new place to hang out.
(and owh, liz, mm, u just had that facebook blonde moment there on the mr john mayer part. no i did not contacted him)
sigh. such intellectual feedbacks. we're all growing more closer to become that boring adult we've long feared. what's next? discuss bout the current politics? election season heheheheh
hehehe..mr njb..recently i've found that ur post become more hmm..hoe to said it..hmm..well ..hmm more like "the boring adult"..i think u should find other thins to discuss beb..hmm election? i dont think i will be in cause i'm one of the thousand people who are not registered..hehe..yup kire rakyat x bertggjawb la kot..hehehe
ahahaha. i'm a boring person, and this blog is for boring ppl heheh.
And your daily property update courtesy of Mr Njb.
first few weeks i guess wud make me jakun for a while. excited of getting into a whole new of something. afterward would be my naggings and complaints. coming soon.
perhaps some office gossips? :D hopefully none of them is accessing this blog. hmmmm
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