Leasehold Renewal in Kuala Lumpur (KL)

I recently came across a transaction that required me to find out the rate of leasehold renewal for a property in Kuala Lumpur. While the rates for leasehold renewal of properties in Petaling Jaya is quite known to the public, it took me a trip to the KL Land Office (near Dataran Merdeka), the Government Land Valuations Department, JPPH (near KL Sentral) and a call to my usual bankers to find out the answer.

The KL Land Office gave me this formula for calculating leasehold renewal in KL:

1/4 x value of land x 1/99 x remaining lease period

An officer from the Land Valuations Department very kindly met up with me and explained that while they could not tell me the rate they used to calculate value of land in “x” area, I could use an approximate from any established valuer as a guide. And that was when I called my bankers who had access to their long time valuers.

Powered by WordPress | Designed by Elegant Themes