Rates of Premium for Renewal of Land Leases

 

Application for Renewal of Leases can be made anytime before the expiry of leases.

 

The criteria for application

i.   Land is not required for government development purpose

ii.  The utilization of the land does not conflict with the title condition

iii. The land has been developed

 

Term of leases can be extended to either 60 or 99 years (except for agricultural use where the extension is only to 60 years)

 

For those who choose the 99 years term, an additional 30% of market value will be payable (e.g. Premium will be charged at 25% + 30% = 55% of MV for Residential property approved for extension to 99 years).

 

 

* Notes:-

The minister will decide on special cases involving the low income group or those living under poverty  line based on the merit of each case.

 

** The ceiling rate of premium of RM10, 000 per acre for agricultural/Town Land and RM5,000 per acre for agriculture / Suburban Land is only applicable to the agricultural land which has been fully utilized for agriculture.