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Does the state government have power to set prices of houses?

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Post time 7-8-2015 03:26 PM | Show all posts |Read mode
[size=14.0040006637573px]RECENTLY, the Negri Sembilan government announced that it will control the price of houses to be built within its state. Mentri Besar Datuk Seri Mohamad Hasan said this is one of the fundamental keypoints of the new state housing policy, which will be finalised soon.
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[size=14.0040006637573px]"In this new policy, 15% of houses built must be worth RM80,000 and below, 15% must cost RM250,000 and below, another 20% must be priced below RM350,000, with 50% left to the developer to sell at whatever price they choose," the minister said.
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[size=14.0040006637573px]He added that developers will be required to reserve 50% for bumiputra allocation in any housing scheme, compared to the previous requirement of 30%.
[size=14.0040006637573px]With that, many have asked if this means that the state government has an unfettered discretion to impose any condition that the state authority may think fit, since land is a state matter?
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[size=14.0040006637573px]Read more, please click here

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