Govt Proposes 50 Pct Stamp
Duty Exemption For House Purchase
KUALA LUMPUR, Sept 7 (Bernama) -- The government is proposing a 50 percent
stamp duty exemption on documents of transfer for the purchase of one house
costing not more than RM250,000, Prime Minister Datuk Seri Abdullah Ahmad
Badawi said today.
The proposal is effective for sale and purchase agreements executed from
Sept 8, 2007, to Dec 31, 2010.
This measure will reduce the cost of purchasing a house by up to RM2,000.
The government will continue to ensure greater Bumiputera participation in
the property sector, Abdullah said when tabling the 2008 Budget at Dewan
In this regard, Pelaburan Hartanah Bumiputera Bhd (PHBB) has acquired
several strategically located properties for the development of major
Among the projects is Penang Sentral, which is an integrated transport and
logistics terminal in the Northern Corridor Economic Region (NCER).
In addition, an initial fund of RM400 million has been earmarked by PHBB to
increase Bumiputera property investment in the Iskandar Development Region (IDR).