Three months to approve land lease renewals
Unless land has been placed under Sections 47 or 48, says land and Survey Department
KUCHING: The Land and Survey Department expects to approve applications for the renewal of land lease in not more than three months as long as the land concerned is not placed under Section 47 or Section 48 of the State Land Code. The department gave its assurance that it would promptly process applications for renewal during a dialogue with representatives from the Sarawak Housing and Real Estate Developers’ Association (Sheda), housing Development Corporation, the Chief Minister’s Department and bank associations.
The dialogue was held at the Land and Survey Department’s headquarters here on Friday. A statement from Sheda said the briefing on the new land policy was conducted by the department’s assistant directors Zaidi Mahdi and Brahim Lumpu. The Land and Survey Department plays a primary role in the formulation and implementation of the new land policies which was announced on May 26, 2007, particularly on the renewal of land lease, extension of term of title, premium payable, and procedures for application and eventual approval. The dialogue was requested in order to allow those present to get first hand input and briefing from the department so as to better understand the implications, procedures, rational and justifications on the new land policies as land matter holds dear to all the people.
Sheda said in its press statement that most of them were uncertain and could not really comprehend the policies as announced in the newspapers. Therefore, the dialogue session was the most proper forum that would provide them with an in-depth understanding of the subject which could be properly disseminated to their members including property developers and owners, Sheda said.
Sheda said it supported the strategic plan of the department to ensure that land be managed to bring best economic benefit to the State, and to encourage optimum utilization and development of the land to generate economic benefit to states as well. Sheda proposed that in order to achieve the goal, the department should also consider issues relating to perpetuity title status, titles with more that 99 years lease, real estate investment trust (REIT) implication, premium calculation manner, premium installment payment procedures and others. It hoped that more information on the new land policies could be made readily available to members of the public.
Source : The Borneo Post
KUCHING: The Land and Survey Department expects to approve applications for the renewal of land lease in not more than three months as long as the land concerned is not placed under Section 47 or Section 48 of the State Land Code. The department gave its assurance that it would promptly process applications for renewal during a dialogue with representatives from the Sarawak Housing and Real Estate Developers’ Association (Sheda), housing Development Corporation, the Chief Minister’s Department and bank associations.
The dialogue was held at the Land and Survey Department’s headquarters here on Friday. A statement from Sheda said the briefing on the new land policy was conducted by the department’s assistant directors Zaidi Mahdi and Brahim Lumpu. The Land and Survey Department plays a primary role in the formulation and implementation of the new land policies which was announced on May 26, 2007, particularly on the renewal of land lease, extension of term of title, premium payable, and procedures for application and eventual approval. The dialogue was requested in order to allow those present to get first hand input and briefing from the department so as to better understand the implications, procedures, rational and justifications on the new land policies as land matter holds dear to all the people.
Sheda said in its press statement that most of them were uncertain and could not really comprehend the policies as announced in the newspapers. Therefore, the dialogue session was the most proper forum that would provide them with an in-depth understanding of the subject which could be properly disseminated to their members including property developers and owners, Sheda said.
Sheda said it supported the strategic plan of the department to ensure that land be managed to bring best economic benefit to the State, and to encourage optimum utilization and development of the land to generate economic benefit to states as well. Sheda proposed that in order to achieve the goal, the department should also consider issues relating to perpetuity title status, titles with more that 99 years lease, real estate investment trust (REIT) implication, premium calculation manner, premium installment payment procedures and others. It hoped that more information on the new land policies could be made readily available to members of the public.
Source : The Borneo Post
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