Real estate sector on track for healthy year
With most property developers delivering earnings broadly in line with expectations in the recently concluded results season...
KUALA LUMPUR: Selangor is considering adding real estate developers that violate the Bumiputera quota requirements to a blacklist.
Borhan Aman Shah, the chairman of the state Housing and Heritage Committee, said that the committee continues to use the Selangor State Housing blueprint as the basis for calculating the Bumiputera quota percentage for each development project.
He made this statement in response to a query from Michelle Ng (PH-Subang Jaya) about the sale of Bumiputera lots to non-Bumiputeras during yesterday's Selangor State Legislative Assembly meeting.
According to Bernama, Borhan said the process of blanket consent or blanket approval cannot proceed if a developer oversells non-Bumiputera units or violates the Bumiputera quota criteria.
He added that developers would face heavier fines and be prohibited from submitting any applications to the Selangor Housing and Property Board (LPHS) for the release of the Bumiputera quota.
According to Borhan, the regulation is enforced throughout the approval process for changes in land use conditions and land ownership, which will be sanctioned by the state executive council (MMKN) and issued by the Selangor Land and Mines Office (PTGS).
"Developers must ensure the Bumiputera quota conditions are complied with during the process of property sales. The PTGS will assess the application for blanket consent or blanket approval by developers," he said.
