Rumawip Project: Keep units for next generation

Rumawip Project: Keep units for next generation

THE Federal Territories Affordable Housing (Rumawip) project is a hit with middle-income earners.

According to Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor, a total of 52,562 units Rumawip houses had been launched since the scheme was implemented in 2013.

That represented 65 per cent of the overall target of 80,000 units.

Tengku Adnan advised buyers to keep their units and not sell them even after the 10-year moratorium to ensure the property remained with the next generation.

By this time, the property would appreciate in value at the buyer‘s advantage, he said during the launch of Residensi Seri Wahyu, the biggest Rumawip project to date.

“I would advise the buyers to abide by a 10-year moratorium that we have set. Even after the expiration of the moratorium, keep the property, because the benefits are not for us, but for the future of our children and grandchildren.

“We hope to see the rakyat take advantage of Rumawip projects as they are well-planned developments that will become an asset for young house buyers,” he said.

Through Rumawip, the government plans to develop 80,000 houses in Kuala Lumpur, Putrajaya and Labuan over the span of five years.

Single individuals with monthly income of less than RM10,000 or married couples with a household income of less than RM15,000 are entitled to register for the project.

Buyers must also be Malaysians aged 18 years and above, and either work or reside in the Federal Territory.

Other projects launched recently under this scheme include Residensi SkyAwani II and Residensi Rampai.

The Residensi Seri Wahyu project is a collaboration with Mah Sing Group Bhd and it is a 35-storey apartment block consisting of 660 units. The built-up for each unit is 805sq ft, with three bedrooms and two bathrooms. The selling price was RM300,000.

During the launch, the 500 available units were snapped up within hours.

Buyers had the option to take up a package with kitchen and bedroom fittings, air conditioners, water heaters, floor tiles as well as additional electrical points for RM30,000.

Mah Sing group managing director Tan Sri Leong Hoy Kum said the strong take-up was due to the prime location of the project in Jalan Kuching, and its close proximity to the Taman Wahyu Keretapi Tanah Melayu station and the Sri Delima Mass Rapid Transit station that is scheduled to open in 2021.

Lauding the government‘s effort, Leong said the Rumawip scheme was in line with Mah Sing‘s tagline to “reinvent spaces, enhance life”.

Leong said Mah Sing would continue to support the effort by providing more affordable houses to cater to the market demand.

He added that the remaining 160 Residensi Seri Wahyu units would be open soon for registration.

Source: New Straits Times

 affordable homes, housing development, government, RUMAWIP

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