By Yasmin Ramlan
SHAH ALAM, Feb 20 — Selangor’s ownership mechanism for state-controlled properties is a crucial medium which enables properties priced below RM250,000 to be offered only to qualified and targeted groups.
State executive councillor for housing Borhan Aman Shah said under the mechanism, Selangor will identify qualified applicants based on their household income and financial eligibility.
"In the initial stages, the property ownership mechanism was primarily focused on low-cost housing only.
“However, starting in 2020, it was expanded to cover all types of properties, including Rumah Selangorku.
“The mechanism is implemented to ensure fair and equitable distribution of controlled price properties to Selangor's residents," he said.
Borhan was speaking at the Ownership Mechanism for State Controlled Property seminar at the State Secretariat Building today.
In addition to bridging the economic divide and making home ownership more affordable for the people of Selangor, the mechanism can also potentially stabilise the property market’s prices and reduce market speculation.
“Therefore, this engagement session (today) should be utilised as a platform to share views and knowledge regarding implementation issues involving documentation and related instruments, including the transfer of inheritance property, hibah, power of attorney letters, and trust documents,” he said.
The nine-hour seminar comprised three modules: the online transfer of ownership of state-controlled price properties, documentation management for transfer of ownership, and a briefing on implementing the e-Tanah and Smart Box systems for strata properties.
Among the speakers were Selangor Housing and Property Board operation development division head Norhanizan Sahib and Selangor Land and Mines Office assistant director (strata) Mohd Alihanafi Mohd Yunus.
