Revisit regulations governing housing developers: Yap

2 weeks ago 16
ADVERTISE HERE

KUCHING: Kota Sentosa assemblyman Wilfred Yap wants more to be done to help property buyers, especially in terms of securing titles.

He proposed further improvements to the Housing Developers (Control and Licensing) (Amendment) Regulations, 2009 to achieve such ends.

He said the law must be revisited to prevent delays in payment of premium and fees as well as the issuance of land titles for new developments.

In a statement, Yap said changes made so far to the bill, effective June 1 2009, have to do with the last five per cent of progress payment being split to 2.5 per cent to be released upon the issuance of occupation permit and the final 2.5 per cent upon the issuance of new land titles.

“However this is inadequate and further improvement through amendments should be made including banning shareholders and directors of errant development companies from being involved in property development.

“Another alternative is for payment of the conversion premium in advance upon approval of the development by the developer upfront.

“This will also prevent situations whereby after approval, the developer applies midway for amendment of the approved plans despite the developer having already entered into Sale and Purchase Agreements,” he said.

He said the issue is not about politics but the purchasers’ rights to a land title after paying for it.

“In fact, this could very well be the only asset of the purchasers bought using their lifelong savings.

“The non issuance of individual land titles could very well be just the tip of the iceberg with many more similar predicaments faced by housebuyers,” he said.

He said this after meeting a group of house purchasers from Taman Kalien, Lorong 2 Jalan Sungai Tapang recently.

House purchasers from the area expressed their frustration to Yap that the individual titles to their property have not been issued even after 20 years.

“I understand their frustrations as owning a house or any premise gives one a sense of pride and security.

“That security is tied to holding the document of title or land title. However, as many property owners have experienced, new properties are often not issued with land titles at the time of purchase or even when they move into the premises.

“Many times, new property owners lament that the authority is slow in issuing land titles to their new properties,” he added.

Yap said he will not resort to the blame game which is unhealthy but hope all parties, stakeholders and the relevant authorities will be sensible and come to a solution to resolve it.

“Without making any promises, I will first find out from the Kuching Division Land and Survey Office as to the actual reason for the delay and try my best to assist,” he added.

Read Entire Article