BY: ERMIZI MUHAMAD
SHAH ALAM, OCT 31: The state government has introduced the Smart Rent Scheme initiative to the public to enable them to secure housing loans from banks throughout the entire country.
Dato’ Menteri Besar, Dato’ Seri Mohamed Azmin Ali said the scheme is targeted at the middle- and low-income groups to help them to own their own homes through an allocation of RM100 million.
“Renters will get back 30% of their total rent paid when they no longer stay at the rented unit.
“The 30% rental return can be used as a deposit to buy a unit under the Rumah Selangorku programme,” he said when tabling the 2017 Selangor Budget at the Selangor State Legislative Assembly on October 31.
Mohamed Azmin said the rental duration to own a housing unit is for two years with a maximum rental duration of five years.
“This scheme will help the public, especially those in the middle income group to rent and finally own a house in Selangor,” he said.
Previously there have been various obstacles faced by Rumah Selangorku house buyers to own their house after failing to get a bank loan due to the tight loan conditions set by Bank Negara.
