Prime Minister Datuk Seri Najib Tun Razak launches the 1Malaysia Housing Programme (PR1MA) on 4th July 2011. The main aim on the programme to assist the middle income group who neither afford to buy high-end property nor eligible for previous My First Home Scheme and others low cost public housing scheme to own a home.
Middle income group classified as those who earn not more than RM6,000 per month regardless whether they work in government or private sector or self-employed.
The programme will be planned and coordinated by 1Malaysia Housing Programme Corporation under the Prime Minister’s Department. The corporation will also distribute the houses under the projects to eligible recipients.
Below are the details of 1Malaysia Housing Programme (PR1MA).
|The Programme||42,000 houses on 20 strategic sites in Klang Valley, Rawang and Seremban|
|8 projects expected to commence in 2011 & 2012|
|Developed by Putrajaya Holdings, SP Setia, Tradewinds, Cyberview, Sime Darby Property, MRCB Resources and 1MDB|
|Features||Each unit will be sold between RM150,000 and RM300,000 depending on location and size|
|Each unit would be between 800 and 1,400 square feet with three bedrooms and two bathrooms|
|Eligibility||Malaysian citizens with monthly income less than RM6,000|
|First time home buyer|
|Open for all Malaysians who work with the government, private sector or self-employed|
|Restriction||Not allowed to sell the house within 10 years to prevent speculative activities|
|Not allowed to rent the unit. Only for own occupation|
|Financing||Financing up to 105% from selected financial institutions. The additional 5% is for insurance and Sales and Purchase legal fees|
|Stamp duty will be exempted|
|Maximum financing tenor of 30 years|
|EPF savings withdrawal through the existing mechanisms|
First project under PR1MA programme are the coming 560 apartment units at precinct 11 Putrajaya which priced at RM120,000 each unit which is more cheaper than actual price RM150,000.
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