First-home buyers get stamp duty waiver for homes up to RM500,000

KUALA LUMPUR: The government has provided up to RM20 billion in housing financing guarantees through the Housing Credit Guarantee Scheme (SJKP) to assist 80,000 first-time homebuyers, particularly self-employed individuals without fixed incomes.

Prime Minister Datuk Seri Anwar Ibrahim said the government also proposed a full stamp duty exemption on loan agreements and instruments of transfer for the purchase of first homes priced up to RM500,000.

He said for homes priced up to RM750,000, a full stamp duty exemption would be granted on the first RM500,000, while the remaining portion of the house price would enjoy a 50 per cent exemption. The exemption would apply to sale and purchase agreements executed from Jan 1, 2027 to Dec 31, 2030.

“Almost RM1 billion has also been allocated for housing projects such as Rumah Mesra Rakyat and the People’s Residency Programme (PRR), including four new projects in Kulai, Johor; Nilai, Negeri Sembilan; Paya Rumput, Melaka; and Pertang, Terengganu.

“Bandar MADANI Bukit Jalil will be developed as a residential area equipped with various facilities, including vertical schools, with registration for the first phase opening this Monday,” he said when tabling Budget 2027, themed ‘Menggapai di Langit, Mengakar Ke Bumi’ (Reaching for the Sky, Rooted in the Ground), in the Dewan Rakyat today (Oct 9).

Anwar, who is also Finance Minister, said the government had agreed to provide 50 acres (20.23 hectares) of strategically located land in Kuala Lumpur, worth RM1 billion, as a new endowment to the Bumiputera Investment Foundation to strengthen the Bumiputera economy and ownership.

He said the land would be developed by Permodalan Nasional Berhad (PNB), taking into account the need for affordable housing and the interests of the Bumiputera community.

He added that the government had also gazetted 50 acres of land in Kuala Lumpur as Malay Reserve Land, with PETRONAS beginning development on the first 10 acres to provide affordable housing.

“The government has also agreed to develop nearly 11 acres of government land in Belfield, Kuala Lumpur, to build at least 2,500 Rumah MADANI units, with 70 per cent allocated to the Bumiputera community,” he said.

— BERNAMA