Renovating a house is a common practice in Malaysia, and there are many reasons why people choose to undertake such a project. One of the primary reasons is to upgrade the aesthetics and functionality of the living space. As familiarity grows and changes, their needs and preferences also evolve and renovation allows them to adapt their homes to better suit their lifestyles. Renovations can also help to address structural issues, such as leaks or cracks and improve the overall safety and comfort of the living space. Whatever the reason, renovating a house in Malaysia requires careful planning and there are several factors you should consider when renovating.
What is a Property Title
A property title is a legal document that records and proves the ownership of a property in Malaysia. It is a crucial piece of documentation that confirms a person’s right to own, use and sell a property. The property title is also referred to as a land title, and it serves as proof of ownership of the land and any permanent structures built on it. The Malaysian government issues different types of property titles, which reflect various levels of ownership rights and restrictions.Types of Property Titles in Malaysia
One of the things that you should know when learning about how to own a property in Malaysia is the types of property titles in Malaysia. Read the following:A) Master Title
A master title is a type of property title in Malaysia that serves as proof of ownership for an entire parcel of land that has yet to be subdivided. It is also commonly referred to as a parent title, and it is issued by the land office in Malaysia. The master title is typically used when a developer wishes to develop a large parcel of land into multiple smaller parcels, such as for a housing development or commercial project. To obtain a master title in Malaysia, the landowner or developer must first apply to the land office and provide various documents, including a land survey report, a land use plan, and a development proposal. The application must also include details of any existing encumbrances or restrictions on the land. Once the application is approved, the land office will issue a master title for the entire parcel of land.
B) Strata Title
Strata title is a type of property title that applies to Malaysian apartments, condominiums, and townhouses. In 1985, Malaysia developed the strata title system to solve common property ownership and management in multi-story structures. Owners of units in a strata title share ownership of common areas like elevators, staircases, lobbies, and car parks. It also governs shared property management, including security and maintenance personnel hiring and maintenance fee collection. Malaysian developers and building owners must apply to the land office for subdivision clearance before obtaining a strata title. The application must contain a building plan showing each unit and communal area. The application must also meet construction and safety standards. After the strata titles are granted, each unit owner will have their own title and be liable for their portion of property maintenance and other costs.
C) Individual Title
A master title is a type of property title in Malaysia that serves as proof of ownership for an entire parcel of land that has yet to be subdivided. It is also commonly referred to as a parent title, and it is issued by the land office in Malaysia. The master title is typically used when a developer wishes to develop a large parcel of land into multiple smaller parcels, such as for a housing development or commercial project. To obtain a master title in Malaysia, the landowner or developer must first apply to the land office and provide various documents, including a land survey report, a land use plan, and a development proposal. The application must also include details of any existing encumbrances or restrictions on the land. Once the application is approved, the land office will issue a master title for the entire parcel of land.
D) Bumiputera Reserve (BR) or Bumiputera Lots
Malaysian Bumiputera reserve or Bumiputera Lots is a type of property title that is reserved for Malays, Orang Asli, and other indigenous Malaysians are called Bumiputera. This strategy is part of Malaysia’s affirmative action programme to create socio-economic equality among ethnic groups. Bumiputera reserve property—land, residences, and businesses—is sold at a discounted price and must be applied for through the applicable government office or department. The applicant must contain financial statements and Bumiputera status evidence. The application must follow the National Land Code and Home Development Act. After approval, the applicant can buy the Bumiputera reserve property at a discount. However, there may be restrictions on the use and resale of the property. For example, the property may only be used for residential purposes, and if you are a non-Bumiputera individual, you have failed the most important requirements to buy house in Malaysia of this property title.
Property Projects For You
If you are thinking about where to find property investment opportunities in Malaysia, you should check these property projects below!
A) Tropicana Grandhill
Tropicana Grandhill is an excellent property project for investment in Malaysia. Located in the scenic hills of Genting Highlands, this mixed-use development offers modern and luxurious serviced apartments, shop lots, and retail spaces, with easy access to major cities in Malaysia.
B) Tropicana Cenang
Tropicana Cenang is a fantastic property project for investment in Malaysia. Located in the vibrant beach town of Pantai Cenang, Langkawi, this mixed-use development offers a unique and luxurious lifestyle experience for residents and investors alike.
C) Tropicana Edelweiss
Tropicana Edelweiss is an excellent property project for investment in Malaysia. Located in the highly sought-after township of Tropicana in Petaling Jaya, this residential development offers a premium and luxurious lifestyle experience for residents and investors alike. The development comprises semi-detached homes and bungalows, with elegant designs and high-quality finishes.
D) Tropicana Metropark
Tropicana Metropark is an excellent property project for investment in Malaysia. Located in the heart of Subang Jaya, this mixed-use development offers a modern and vibrant lifestyle experience for residents and investors alike. The development comprises serviced apartments, retail spaces, and a commercial hub, providing ample opportunities for rental income and long-term capital appreciation.
Reference:
- https://www.propertyguru.com.my/property-guides/what-is-strata-title-individual-title-722
- https://www.propsocial.my/topic/1905/the-different-types-of-property-titles-in-malaysia-posted-by-propsocial-editor
- https://www.propertyhunter.com.my/news/2019/10/7231/article/types-of-titles-tenure-of-property-titles-and-temporary-occupational-licence-tol
- https://www.propertyguru.com.my/property-guides/what-is-strata-title-individual-title-722
- https://www.propsocial.my/topic/1905/the-different-types-of-property-titles-in-malaysia-posted-by-propsocial-editor
- https://www.propertyhunter.com.my/news/20 19/10/7231/article/types-of-titles-tenure-of-property-titles-and-temporary-occupational-licence-tol