Home buyers can take advantage of the i-Miliki stamp duty exemption and the Housing Deposit Assistance Scheme (HDAS) at Sheda Property Expo from Sept 30 to Oct 2.
KUCHING (Sept 28): First time home buyers who enter into a Sale and Purchase Agreement dated between June 1 and Dec 31 this year will be able to take advantage of the Keluarga Malaysia Home Ownership Initiative (i-Miliki) stamp duty exemption at Sarawak Housing and Real Estate Developers’ Association (Sheda) Property Expo this weekend.
“The i-Miliki initiative which was announced by Prime Minister Datuk Seri Ismail Sabri Yaakob earlier this year offers a 100 per cent stamp duty exemption for first-time homeowners who purchase properties priced RM500,000 and below, and 50 per cent stamp duty exemption on properties priced over RM500,000 up to RM1 million. The exemption applies to loan agreements and instruments of transfer for the purchase of a first house.
“Potential home buyers are encouraged to reserve their preferred units at the Sheda Property Expo 2022 this weekend in order to be first in line once the gazette is published and mechanisms are implemented,” Sheda said in a press release.
Meanwhile, Sheda said the state government has also enabled potential home owners in the B40 category to own homes by way of a special grant through Mutiara Mortgage and Finance (MMF) under the Housing Deposit Assistance Scheme (HDAS).
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg had announced that RM40 million has been set aside for this purpose and purchasers in this category may be able to receive up to RM10,000 per person to assist in deposit payments.
In addition, the balance of the loan financing through MMF is set at one per cent interest rate.
Sheda said the expo, which takes place this weekend from Sept 30 to Oct 2 at the Borneo Convention Centre Kuching (BCCK), is “the perfect opportunity for home buyers to utilise these and other financial assistance and advantages provided by the federal and Sarawak governments.”
“With a range of properties available, visitors will be able to spend their time over the weekend to carefully browse, compare and select an ideal property that fits their lifestyle and aspirations.
“With external factors affecting the housing and real estate industry such as escalation in building material costs, labour shortage and the increase in OPR levels, it is inevitable that the cost of construction will increase considerably in the coming years. Given the foreseeable increase in cost and existing financial assistance available, the best time to buy really is now,” Sheda said.
The main sponsors of the Sheda Property Expo 2022 are Naim Land Sdn Bhd, Lee Onn Development Sdn Bhd, Chen Ling Development Sdn Bhd and CMS Berhad through its subsidiary Cahya Mata Sarawak Property Development Sdn Bhd.
The event is supported by the Ministry of Public Health, Housing and Local Government, Construction Industry Development Board Malaysia and Centre of Technical Excellence Sarawak.
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