IJOK, 22 Jan: The implementation of the goods and services tax (GST) on April 1 is a new challenge that affects the real estate industry.
The Chief Minister, Mohamed Azmin Ali, said that Selangor is bracing for the uncertain economic situation by focusing on development that generates economic activity.
He said that the low and middle income groups will not be overlooked by people-concerned policies to ensure the welfare of the people.
“Saving and prudent spending will continue to be tightened based on the principles of good governance,” said Mohamed Azmin.
He wants private developers to also participate in the state government agenda of developing 15,000 affordable homes (RMM) in the next three years.
He said that various incentives are made available, including discounts of land premiums from 25 percent to 10 percent, as well as development charge exemptions.
“Research is being done to facilitate the young people to own homes through the concept of hire-purchase practices in developed countries,” he said.