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Affordable Homes To Be Incorporated In MRT3, Tender Process Revamped, SRP Scheme Helps 67,000 Families Acquire Homes, And More

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MRT Corp CEO Zarif Hashim revealed that affordable housing will be incorporated in the Mass Rapid Transit 3 (MRT3) Circle Line, while the tender process for the project will be revamped to enhance the exercise’s integrity.

 

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz also shared that the My First Home Scheme (SRP) saw almost 67,000 families acquire their own home since its launch in 2011 to February this year.

1) Affordable homes to be incorporated in MRT3, tender process revamped

Affordable housing will be incorporated in the Mass Rapid Transit 3 (MRT3) Circle Line, while the tender process for the project will be revamped to enhance the exercise’s integrity, said MRT Corp CEO Zarif Hashim.

 

Notably, tenders for the project is expected to be called next month, reported Free Malaysia Today.

 

“While most companies talk about having a ‘no bribery’ policy, we will go a step further by placing hurdles in the system,” said Zarif. This includes introducing fake avatar and diversions – similar to those found in blockchain security – in the evaluation process.

 

Meanwhile, the proposed affordable homes will be constructed above the multi-storey car park facilities within at least eight of its stops, not only to maximise land use but also to help alleviate the shortage of affordable housing within the city.

 

To run along Kuala Lumpur’s perimeter, the 51km MRT3 Circle Line will feature a combination of 11km of tunnels and 40km of elevated tracks. It is expected to be fully operational by 2030.

2) SRP scheme helps 67,000 families acquire homes
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Since its launch in 2011 to February this year, the My First Home Scheme (SRP) saw almost 67,000 families acquire their own home.

 

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the home acquisitions under the scheme had a total value of RM14.8 billion. He noted that 91% of the applicants were from the B40 group and 92% were aged 35 and below, reported The Star.

 

For this year, the SRP is expected to benefit 25,000 applicants from the B40 and M40 group, with an estimated allocation of RM5.9 billion.

 

One of the government’s schemes under i-Biaya, SRP helps eligible first-time homebuyers secure up to 110% financing from participating banks, enabling such buyers to own a home without paying down payment.

 

The scheme is open to first-time homebuyers with monthly income of RM10,000 and below for joint applicants or RM5,000 and below for single applicants. They can acquire property, valued at up to RM500,000, either in the secondary or primary market.

3) Malaysian Housing Financing Initiative to improve home ownership among M40, B40 group
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One of the Home Ownership Programme’s (HOPE) four components, the Malaysian Housing Financing Initiative (i-Biaya) aims to improve home ownership among the people.

The initiative will focus on the M40 and B40 groups who still face difficulties in accessing home financing, said KPKT Deputy Secretary-General (Housing and Community Wellbeing), Datuk Azhar Ahmad.

 

There will be three schemes under i-Biaya. The first is Skim Jaminan Kredit Perumahan (SJKP) via SJKP Berhad, which is targeted at first-time homebuyers with no fixed income such as business owners, gig economy workers, traders or small entrepreneurs, reported Bernama.

 

Skim Rumah Pertamaku (SRP) by Cagamas SRP Berhad, on the other hand, is targeted at helping first-time homebuyers from the M40 and B40 groups own a home without paying the down payment.

 

Finally, Skim Rent-to-Own (RTO) by Perbadanan PR1MA Malaysia (PR1MA) enables those in the M40 group own a home via an affordable ownership scheme with a hire purchase concept for existing PR1MA units.

4) Bandar Malaysia to feature efficient, safe public transport options

The management of Tun Razak Exchange (TRX) has assured that a mixed model of transportation development for pedestrians as well as the safe movement of people, which includes the use of non-motorised vehicles like bicycle, would be the main focus in the development of Bandar Malaysia, revealed Transport Minister Datuk Seri Wee Ka Siong.

 

“I stress here that the development of Bandar Malaysia must take into account efficient and safe micro-mobility and public transport options in order to reduce congestion and the carbon footprint in Kuala Lumpur,” he said as quoted by Bernama.

 

Wee shared that his ministry would monitor the development to make sure that the transportation needs are met.

 

He revealed that the matter was decided during a discussion session of the master plan for Bandar Malaysia.

 

“We were briefed on Bandar Malaysia’s proposed public transport infrastructure and the current status by the top management of TRX City,” added Wee.