15 November, KUALA LUMPUR – Mah Sing Group Berhad (Mah Sing) is launching its home ownership campaign from 15 November 2018 to 31 December 2018, where buyers can save up to RM24,000 and enjoy Budget 2019’s stamp duty incentives immediately.
Mah Sing’s Chief Executive Officer Datuk Ho Hon Sang said, “We want to show support for the Government’s initiatives announced in Budget 2019 as this will boost the property market in the short to mid-term. Our campaign starts immediately pending Government’s measures which commence next year. It is 2-pronged and will cover both completed properties and new launches.”
Completed residential property priced between RM300,001 – RM1 million : Mah Sing to absorb MOT stamp duty fees from 15 November 2018 – 31 December 2018.
The Government has announced in Budget 2019 to exempt the Memorandum of Transfer’s (MOT) stamp duty fees for first completed residential property priced between RM300,001 to RM1 million from 1 January 2019 to 30 June 2019.
Under Mah Sing’s home ownership campaign for this price segment (completed properties priced between RM300,001 to RM1million), eligible buyers can immediately enjoy the MOT absorption. Buyers must sign the Sales and Purchase Agreement (SPA) and has their home loan approved between 15 November 2018 to 31 December 2018.
Datuk Ho commented, “This is an attractive proposition because home buyers can save between RM5,000 to RM24,000 depending on their property price. The stamp duty incentive also complements the Group’s current running ‘Desire’ campaign which bundles affordable, easy-to-own properties with hassle-free convenience to meet the pent-up demand for completed homes.”
Mah Sing’s completed participating projects are:
• Canal Link, M Residence 1, Rawang (2.5-storey homes, priced from RM949,000)
• Meridin Bayvue Service Apartments, Sierra Perdana, Johor (high-rise residential, priced from RM419,000)
• Meridin @ Medini Condominium, Bandar Medini Iskandar, Johor (high-rise residential, priced from RM404,000)
• The Greenway in Meridin East, Pasir Gudang, Johor (2-storey link homes, priced from RM390,800)
Residential property under construction: Mah Sing to absorb MOT & Loan Agreement on first RM300,000 for property valued up to RM500,000 from 15 November 2018 – 30 June 2019.
Mah Sing will also absorb the stamp duty on MOT and loan agreement for the first RM300,000 of residential properties under construction valued up to RM500,000, for home buyers who sign their SPA, with loan in place from 15 November 2018 until 30 June 2019. Home buyers can save up to RM6,500 based on this stamp duty exemption on MOT and loan agreement for the first RM300,000 value of the property.
“This will reduce the home ownership cost that home buyers need to pay when purchasing a house and will be beneficial in promoting home ownership among the young generation. We have many new launches in strategic locations which offer good product specifications and quality facilities at an affordable price. We believe that our direction is aligned with the current demand and will receive favourable feedback from the market” shared Datuk Ho.
Mah Sing’s under construction projects which will be offering the incentive are as below:
• M Vertica, Cheras (high-rise residential, priced from RM450,800)
• M Centura, Sentul (high-rise residential, priced from RM350,000)
• Cerrado Residential Suites, Southville City, KL South (high-rise residential, priced from RM380,000)
• Sensa Serviced Residence, Southville City, KL South (high-rise residential, priced from RM344,000)
• The Fern in Meridin East, Pasir Gudang, Johor (2-storey link homes, priced from RM430,950)
• Hazel in Meridin East, Pasir Gudang, Johor (2-storey link homes, priced from RM487,000)
Mah Sing currently has 47 projects across Malaysia, with key focus in the Klang Valley, Penang and Johor. 74% of the Group’s sales target for residential properties in 2018 are below RM500,000.