Affordable housing scheme by OIB enables civil servants to purchase homes at prices 20% lower than market value
PETALING JAYA: Oriental Interest Bhd (OIB) launched three new affordable housing projects in the northern region, presenting civil servants an opportunity to own their own homes amidst the highly priced property market.
Situated in major cities in Kedah, OIB’s new developments, Taman Sinar Intan 3, Taman Permaipura and Taman Serai Wangi, is set to offer affordable modern living in strategically located townships.
According to statement, OIB’s cross-subsidy offering under the government’s PPA1M programme coupled with the government’s first-home ownership policies.
It includes a full stamp duty exemption for first-time homebuyers on houses costing up to RM300, 000 effective 1 January 2017, which enables civil servants to purchase landed properties at prices 20% lower than market value.
As these are built and sell projects, civil servants who are not entitled to 100% financing. However, civil servants are only required to pay 10% upon signing of SPA and the balance of 90% upon completion. This will certainly translate into savings for those who are taking bank loan to finance their purchase.
OIB marketing division chief operating officer Beh Suan Sim said the company intend to make the journey of owning a home as affordable and as undemanding as possible.
“We are very excited to launch our three new projects, Taman Sinar Intan 3, Taman Permaipura and Taman Serai Wangi, which further supports our ambition of making homes more accessible for the people,” she said.
PPA1M Taman Sinar Intan 3 is OIB’s 43.24 acres township situated at the western bend or ‘Lencongan Barat’ of the southern Sg Petani city.
This residential development features 450 units of modern contemporary designed double storey terraces with a single build-up of 2,178sq ft.
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Situated in Bedong in Sg Petani, PPA1M Taman Permaipura is a 44.19acres township located strategically along the Sungai Petani-Gurun municipal road. The freehold project consists of two zones: 201 units of ordinary single-storey terraces (1,087sq ft.), and 399 units of gated and guarded double-storey terraces (2,181sq ft.). The single storey terrace starts from RM184, 790 while the double storey terrace at RM274, 921.
Located in Padang Serai, PPA1M Taman Serai Wangi is an integrated township that strives to provide modern living in Kulim, Kedah. This freehold project, which will be completed in two phases, consists of 200 units of single-storey terraces (1,165sq ft.) and 132 units of double-storey terraces (1,909sq ft). PPA1M Taman Serai Wangi’s single-storey terrace is priced from RM188,862 while the double-storey terrace starts from RM278,714.
OIB has a few other PPA1M projects in the pipeline situated in Kubang Rotan in Alor Setar, Padang Meha in Kulim, Malau and Jitra in Kubang Pasu, Kedah.
The public are encouraged to drop by OIB’s roadshow at Amanjaya Mall in Sg Petani to find out more information on the recently launched PPA1M projects. The roadshow will run from Dec 22 to 31.
Visit OIB’s website at www.oibgroup.com for more details.
For more information on PPA1M application requirements and registration, please visit the PPA1M website at www.ppa1m.gov.my.
