SHAH ALAM, AUG 23: The State Government will soon introduce Affordable Commercial Residence Apartment and Boutique Office Development Policy to provide business space especially for young entrepreneurs who are new to business and do not require a big office space.
The policy will be enforced on all new Commercial Apartment Residence and Boutique Office development proposal during the Planning Approval request stage to the local authorities (PBT), beginning September 1, 2016.
The decision was approved during the last State Government Meeting, which was chaired by Dato’ Menteri Besar Dato’ Seri Mohamed Azmin Ali, included Service Apartment, Small Office Home Office (SOHO), Service Apartment or SOHO in Transit Oriented Development (TOD) areas, Small Office Versatile Office (SOVO) or Small Office Flexible Office (SOFO).
“Young entrepreneurs are an asset to the country particularly to Selangor, which is the country’s biggest revenue contributor.
“The State Government takes the initiative to aid them with a policy that is also part of the state government’s continuous commitment in providing affordable homes to middle and lower class citizens,” said Mohamed Azmin.
Under this policy, the development component of the affordable residence for all four types of Commercial Residence Apartment and Boutique Office is between 10% to 30% depending on the total units developed as a whole.
The market sale of each unit is set to be not more than RM250,000 in line with the ‘Rumah Selangorku’ Policy with the area of each unit between 450 to 550 square feet.
Prioritising young entrepreneurs below 40 years of age, those who are interested to purchase should meet the condition of a single or dual income with a partner that does not exceed RM15,000 per month.
Buyers and applicants who are interested are allowed to have only one unit from the units offered by the Selangor Housing Property Board (LHPS).
Contact LHPS for further information and registration for the affordable property.
