Property and divorce lawyer Johor Bahru

Property Development (Regulation and Permit) Regulations 1989

Under the PROPERTY DEVELOPMENT (Control and Licensing) Regulation 1989,
in order to safeguard and safeguard the rights of homebuyers, all buyers who purchase property directly from a developer are required to enter into a standard contract known as a home purchase and sale contract (Legal Sale and Purchase Agreement).
No changes will be valid unless approved by the Housing Department.

The offence is punishable by a fine of 5,000 ringgit or three years’ imprisonment or both. 

Under the regulations, developers must obtain a developer license issued by the Department of Housing and a sales license before they can sign a contract of sale with a homebuyer.
Each contract for the sale and sale of landed houses (e.g. freestanding bungalows, townhouses and semi-detached bungalows) must comply with standard contracts (Schedule G);
However, high-rise real estate contracts (e.g. high-rise apartments, apartments, private fences/gates and townhouses in guarded landed communities)
must comply with standard contracts (Schedule H) (Schedule H). The developer must hand over the built house to the buyer within the specified time limit on the date of signing the contract of sale.

Table G has a period of 24 months, while Table H has a period of 36 months.
The guarantee period for liability for defects in a house is within 24 months of the date of delivery of the vacant possession, i.e. the date the key is taken.

What powers do I have if the developer delays the delivery of the keys? Each statutory standard contract will have a
Late Delivery Damages clause, i.e. if the developer exceeds the delivery time limit set out in the schedule, the buyer has the right to claim compensation from the developer from the day the key is taken, at an annual interest rate of 10% of the transaction price in the sale contract. 

Any homebuyer who encounters this problem can make a complaint in advance to the Developer’s Tribunal (Tribunal of Homebuyer Claims) by filling out a form.
If the developer does not act, he may ask the lawyer to go directly to the court for compensation.

*Completed or commercial properties of completed properties are
usually sold in a “status quo” manner and the transaction is not subject to the Property Development (Regulation and Permit) Act 1989.
House prices are usually paid within three months of the buyer signing the contract to buy and sell the home.
When the buyer has paid the full amount, and in the relevant land bureau for the transfer of property rights procedures.

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