Property Development, Construction and Management Committee members will consider participation in the recently introduced RM150,000 affordable housing category if incentives are given to the developers.
Its convenor Datuk Finn Choong said the committee welcomed the move by the state government to introduce the new category.
“If there is a reduction in contribution charges as well as an increase in the development density, the developers would be more than willing to carry out the projects,” he told a press conference at the Penang Chinese Chamber of Commerce recently.
On Oct 12, state Housing, Town and Country Planning Committee chairman Jagdeep Singh said the state was introducing a new category of affordable housing with units priced at RM150,000 for those with an income ceiling of RM6,000.
“This move serves to protect the interests of the lower income group. The new category in Penang has been timely introduced in line with the current economy conditions,” he said.
Jagdeep said the net household income gap for affordable housing projects had been increased for more applicants to be entitled to the projects.
He said that the household income ceiling for affordable housing applicants had been increased to RM8,000, RM10,000 and RM12,000 to apply for units costing RM200,000, RM300,000 and RM400,000 respectively.