How can I apply for strata title in Malaysia?
Once the CPSP is issued, the developer of your property building must apply for strata titles on behalf of you (and other purchasers) within one month. As a homeowner, you will easily obtain your property unit’s strata title from your developer.
How much should I pay for a strata title in Malaysia?
1% on the first RM100,000. 2% from RM100,001 to RM500,000. 3% from RM500,001 to RM1,000,000. 4% for everything above RM1,000,000.
How do I get a condo strata title?
Once the superstructure stage is completed, the developer must apply for and obtain a Certificate of Proposed Strata Plan (CPSP) from the Director of Survey and thereafter commence the application for strata titles within one month from the issuance of the CPSP.
How long period does it takes for the developer land owner to apply for strata titles from the superstructure stage?
The laws regulating strata titles In addition, it mandates that developers must apply for strata titles within three months of the completion of the superstructure and they should be ready upon vacant possession of the property.
How much should I pay for a strata title?
For the first RM100,000 it is one per cent or RM1,000 per parcel. For every RM200,000 and RM300,000 it is two per cent and three per cent respectively. For a property that is worth more than RM1 million, it is four per cent or RM40,000.
What is the difference between freehold and strata title?
For freehold properties, the landowner is liable for maintenance costs. Under strata title, a strata levy is imposed on owners to pay for the maintenance of the common areas. Further, the owners will have to contribute to a ‘sinking fund’ for future repairs and maintenance.
How long does it take to get strata title Malaysia?
within six months
Pursuant to Section 8 of the Strata Titles Act 1985, the developers are required by law to apply for the titles within six months from the date of the issue of Certificate of Fitness (CF) by the local council or such other compulsory circumstances as facilitated in the same Section of this Act.
Where can I find my strata title?
To check on your strata title, you can either call the local land authority or conduct a quick search on the e-Tanah system using the master title details in your Sale and Purchase Agreement. Alternatively, you can call the developer to ask if they have applied for the strata title and what is the next stage.
Can I sell without strata title?
If the housing developer has not obtained a strata title for the Property it sells to you, the developer will sign a deed of assignment (instead of a memorandum of transfer) in your favour, and undertakes to deliver title to you when the strata title is issued.
When should developer apply for strata title?
The developer needs to apply for Strata Titles within one month after the issuance of CPSP. Thus, upon the delivery of the vacant possession, the Strata Title will be simultaneously delivered to the purchaser.
What are strata fees?
A strata fee or levy is the contribution you make as an owner to ensure the maintenance of your common areas of the property. Strata laws vary between states, but typically, these fees are collected quarterly or biannually.
What is the difference between strata and non-strata?
Non-strata will mean that the land belong to only single owner, no shared area with others. Land title will be issued instead of strata title.