- What is Home Ownership Campaign (HOC) 2021?
- HOC 2021 is an initiative by the Government to stimulate the housing sector and help buyers in homeownership. As such, the Government offers stamp duties exemptions on the Instrument of Transfer and Instrument on Loan Agreement.
- The Campaign is open to ALL Malaysian individuals.
- What is the duration of the Campaign period?
- The Home Ownership Campaign 2021 period ends 31st December 2021.
- What are the eligibility criteria for exemption?
- The Sale and Purchase Agreement (SPA) must be signed within the Campaign period.
- Exemptions are applicable only for residential properties that are completed or under construction, and governed by the Housing Development Act with valid Developer’s License (DL) and Advertisement and Sales Permit (AP) and/or Certificate of Completion and Compliance (CCC)
- Only residential properties in the primary market are eligible for the stamp duties exemptions, thus sale must be from a developer to a purchaser.
- The discount is given based on approved APDL pricing for projects under construction and registered selling price for completed projects. The discounted price must be reflected in the SPA.
- Eligible properties in Peninsular Malaysia must be registered with the Real Estate and Housing Developers’ Association (REHDA) Malaysia
- What is the amount of the exemption on Instrument of Loan Agreement? Is it based on house price or loan amount?
- The amount of exemption on Instrument of Loan Agreement is 0.5% of the loan amount.
- However, please note that under HOC, the exemption is applicable for all houses with selling price from RM300,001 to RM2.5 million (price before discount).
- Is Taman Kelemak Utama under HOC program?
- Yes.
- Can I purchase under a company name?
- No, purchases are for Malaysian individuals only.
- Can I purchase more than one residential unit and get stamp duties exemptions on all of them?
- Yes, there is no limitations on number of units that can be purchased.
- Am I entitled for the HOC waiver if I purchase a house from my friend (secondary market)?
- No, the stamp duty waiver is only applicable for residential properties purchased from a developer (primary market) that are registered with REHDA
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