Cheapest Premium Renewal Rate In The Country

Sarawak CM Announces Revision To Rate Payment For Land Use

SIBU, May 14 (Bernama) -- Sarawak Chief Minister Tan Sri Abdul Taib Mahmud Friday night announced a revision of rates to premiums for renewal of land leases for residential, commercial and agriculture purposes.
He said the new rates, which will be effective June 1, were the lowest and cheapest compared to all other states in Malaysia and would be based on flat rate charges rather than involving calculations, which might entail bureaucratic delays.
He made the announcement during the launching of the Sarawak Unity Week by Deputy Prime Minister Tan Sri Muhyiddin Yassin at the Sibu Town Square here.
With the changes, the renewal rates for land used for residential purposes will be RM1,000 per unit of terraced house, RM3,000 per unit (semi-detached house) and RM6,000 per unit (detached house). Land use for commercial buildings in primary towns are rated at RM40,000 per unit, secondary towns (RM20,000 per unit) and rural towns (RM10,000 per unit) while for agriculture use the rates RM5,000 per acre in town land, RM2,500 per acre (suburban land) and RM200 per acre (country land). "All rates for renewal of land leases are for a period of 60 years," said Taib.
Acknowledging that the opposition had been harping on this issue in the last state election as well as in the current Sibu parliamentary by-election, he challenged them to revise the land rates in the states they were governing to be lower than in Sarawak and see whether they could still be able to rule with the lesser revenues.
Meanwhile, Muhyiddin praised the step taken by the Sarawak government to reduce the payment rates for renewal of land leases.
He said the decision showed the wisdom and caring nature of Taib.
"This decision is made in the interest of the people, especially people of Sibu," he said.

tunku : well done sarawak. this is indeed a very good news to the people in sarawak.it is very cheap premium rate.we hope other states will follow sarawak in revising their premium rate to a very reasonable rate like sarawak had introduced.once again,well done sarawak and well done BN.