KUALA LUMPUR – The National Land Council (MTN) today agreed that the Guideline on Real Estate Acquisition, Economic Planning Unit, Prime Minister’s Department be enforced on March 1, 2014.
The guideline enforced the increased minimum price for real estate that could be purchased by foreigners from RM500,000 per unit to RM1 million in line with the announcement by Prime Minister Datuk Seri Najib Tun Razak during the tabling of the 2014 Budget recently.
The 70th meeting of the National Land Council (MTN) today was chaired by the Deputy Prime Minister, Tan Sri Muhyiddin Yassin at Parliament House, here today.
According to a statement released here, those present at the meeting included Natural Resource and Environment Minister Datuk Seri G.Palanivel, federal ministers of the relevant ministries and all the menteris besar and chief ministers.
The guideline was among four consideration papers and three information papers touching on several important policies pertaining to land and forestry that were discussed at the meeting.
The MTN meeting today agreed that through the Proposal Paper on the Review of Quit Rent in Peninsular Malaysia for 2015, the state authorities reviewed the rate of quit rent before the expiry of the 10-year period beginning from the nearest date of the previous rental review date in line with the provision of Section 101 of the National Land Code 1965.
“The Proposal Paper on the Impact of Mining and Quarrying Activities on Permanent Forestry Management in Peninsular Malaysia’ was also discussed at the meeting.
The MTN agreed with the proposal paper which stated that the state governments took the initiative to control or as far as possible avoid any approval on mining and quarrying activities in Permanent Forest Reserve areas.
Another consideration paper discussed was the ‘Proposal Paper on the Impact of Land Development Activities on Permanent Forestry Management for Coastal Wetland Areas in Peninsular Malaysia’.
Through the discussion, the MTN had agreed that Coastal Wetland Areas in the existing Permanent Forest Reserve areas be retained and the Permanent Forest Reserve areas be increased by gazetting Coastal Wetland areas on Government Land.
Meanwhile, three information papers presented included the one on the involvement of the federal and state governments in the REDD+ (Reducing Emissions from Deforestation and Forest Degradation in Developing Countries) mechanism to reduce the effects of climatic change.
The meeting also took note of the outcome of the Star Rating Evaluation of the Land Administration Year 2013 with the Kulim Land Office, Kedah receiving the five-star rating.
The third information paper was on “The Progress of Resolving Land Transaction Arrears and the Performance of Land Ownership Transfer Registration Within One Day in the State Land Administration’ up to August 2014. – BERNAMA