NSTnation The quit rent system for strata buildings in the city will be replaced with parcel rent system from Jan 1.
Federal Territories Minister Khalid Abdul Samad said the government made the decision after taking into account public interest.
“Implementation of the parcel rent system is seen as a correctional mechanism and to rationalise taxation mechanism to a more systematic, transparent and fair strata development,” he said, at the launch of the parcel rent system for strata buildings at the Federal Territories Land and Mines Office here.
However, he said the owners of strata residential property such as the People’s Housing Programme , especially the B40, would enjoy a fixed rate. “Therefore, the parcel rent rate for such strata development has been drafted to allow the implementation of parcel rent for a minimum rate of RM20 a year for leasehold title and RM25 for freehold title holders can be enjoyed by the M40 group of the strata residential owners.”
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