Urban Renewal Bill to be tabled this month, says Nga
The Bill, which will oversee redevelopment, regeneration and revitalisation of cities and towns in Peninsular Malaysia, was initially slated to be tabled for first reading last month.
'I am planning to table the Urban Renewal Bill, which will promote prosperity among Malaysians in towns, during this Merdeka Month,' Nga said after launching the Semarak Jiwa Merdeka at his ministry here on Friday (Aug 8).
The Bill proposes allowing the en bloc sale of entire strata developments even if not all the owners agree.
An en bloc sale happens when all unit owners of a building agree to sell to a single buyer, often for redevelopment purposes.
At present, Section 57 of the Strata Titles Act 1985 states that a strata development can only be sold if there is 100% agreement from the owners.
The proposed new law aims to lower this threshold, depending on the building's condition and age.
For example, if the building is less than 30 years old, it only needs 80% approval.
The proposed threshold for structures above 30 years old is 75%.
Meanwhile, for abandoned housing projects, a simple majority of 51% will suffice.
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