By Melissa Chi
February 12, 2012
View of KLCC from the 17th building of the Seri Sabah flats in Cheras. Picture by Choo Choy May
The view which the rich compensate millions for is the luxury the poorer residents of the city can additionally afford, during RM124 the month or in between RM25,000 as well as RM35,000 for life.
Seri Sabah is usually the singular of dozens of low-cost high-rise housing schemes owned by the Kuala Lumpur City Hall (DBKL) as well as right away the centre of the charge over the supervision loan proposal.
Under the scheme, the tenants will be able to buy up their units with loans from the workers' pension fund, for which they would ordinarily not qualify for during blurb banks since they tumble in to the tall risk class of borrowers.
And most of the tenants during Seri Sabah do tumble in to which organisation most of the households draw the monthly income of RM3,000 or less. Many of the heads of households have been retired.
And surprisingly, most of the tenants whomThe Malaysian Insiderspoke to during the recent revisit pronounced they would not take up the proposed loan suggest even though they favourite their home. They pronounced they preferred to buy up the place with their own income or go upon to lease from DBKL.
Mr Lee chatting with the next door next door neighbour about how prolonged they've lived here. - Picture by Choo Choy May
Speaking in the Hakka dialect, Mr Lee, as he longed for to be known, pronounced he didn't see the point in buying.
"If the singular of us goes, the alternative will live with the singular of our kids," he pronounced nonchalantly.
Rent is RM124 the month as well as the water as well as electric bill comes up to about RM80 monthly, he said. It costs about RM27,000 to buy their unit, he added.
Zaiyani Ali, the 22-year-old clerk for Yayasan Belia who earns RM900 the month toldThe Malaysian Insiderthat her father had already purchased the section with income cold from his Employees Provident Fund (EPF) assets to buy their RM28,000 home there.
She pronounced she lives in the prosaic with her parents as well as brother as well as which their combined domicile income is RM2,000.
She pronounced her section right away costs RM35,000.
Some of her neighbours, she disclosed, had bought units, renovated it as well as lease it them out for RM450 the month.
Thirty-year-old Iza who functions as the clerk has lived in Seri Sabah with 7 others in the 650 square-foot-flat for some-more than 20 years. The sum domicile income is RM3,000.
She pronounced her family never deliberate shopping the section since she heard which if they want to resell it, it has to go back to the city legislature or to the relative.
"I do not determine with this housing intrigue since there have been already housing loans accessible (for low-income earners)," pronounced Iza, who was innate in Johor, during the travel around the flats open drift with her mother as well as her three-month-old baby.
Fifty-eight year aged Saudiah Husin lives with her husband as well as dual grown-up children, seemed uncomfortable with t! he suspi cion of using income borrowed from someone else's early retirement assets to account her home purchase.
"If we loan to people similar to us, who's starting to compensate in the end?" she said.
The housewife pronounced she was aware which those who were unqualified for bank loans would serve have the higher commission of delinquent upon their payments.
The family, which has an estimate domicile income of RM1,700, have been in the midst of purchasing their unit, with their own savings.
One daughter, Saudiah said, is physical education instructor with Pizza Hut as well as draws RM1,000 the month. The motherly Saudiah pronounced she can consequence up to RM700 babysitting.
She pronounced the supervision has regularly speedy the tenants to squeeze the units they were vital in, though the usually complaint was which they had to wait for until get an suggest letter from City Hall.
Like Saudiah, 57-year-old Siti who is likewise vital with her husband as well as dual children in Seri Sabah pronounced she as well was profitable for her prosaic with their own money.
"I consider it's not right which the supervision is using alternative people's money, EPF funds," she said, referring to the Employees Provident Fund.
Vies of KLCC from the 17th floor. - Picture by Choo Choy May
He pronounced the EPF would consequence 5.5 per cent seductiveness annually from the repayments done by the 20,000 brand new residence buyers.
The Umno senator additionally pronounced he expects "not some-more than 10 per cent (of the borrowers) will default".
The! supervi sion has been forced to address fears which the housing loan intrigue would result in waste for the 5.7 million active EPF contributors.
Under the scheme, applicants will embrace the 100 per cent loan, with the repayment duration of up to 25 years to concede borrowers to make "smaller" monthly repayments.
DBKL emissary director-general (socio-economy development) Datuk Amin Nordin Abd Aziz had pronounced which buyers underneath the intrigue would have to compensate reduction than RM300 the month, depending upon the duration of the loan which was up to 25 years as well as the distance of the house. Those right away renting have been profitable in between RM124 as well as RM194, depending upon the distance of the unit
He additionally pronounced which the little 80 per cent of the tenants of DBKL public housing had paid their lease for the final dual years, to illustrate making them eligible for the housing loan.
Amin reportedly pronounced which there have been 14,584 units of DBKL public housing as well as 29,562 units underneath the Economic Action Council's People Housing Programme (PPR-MTEN) accessible as well as 12,675 eligible tenants have supposed the offer.
Children personification during the playground. - Picture by Choo Choy May
Of which figure, twenty-four projects (of 32,762 units) were built in KL as well as 51 alternative projects (37,437 unit) were built in alternative states.
As during 2007, the sum 49 plan comprising 52,716 units have been completed.
Another twenty-six projects with 17,483 units have been in various stages of construction as well as were approaching to be finished by 2010. No serve news is posted upon the website.
Accordin! g to the web site, there have been still 86,572 bad family groups in the country, with the top in Sabah, 23, 692. KL has 11,181 families.
There have been alternative city renters who pronounced they would squeeze the opportunity to own their residence with the housing loan scheme.
Halimah Yatim, 58, who is the singular mother as well as right away lives with the singular of her 3 children, pronounced she appreciates the possibility for low-income earners to get loans.
"If we have to compensate compartment the day we die, so be it," she said, jokingly.
Her domicile income is RM2,000 as well as to buy the section would price about RM28,500.
The parents mother of 4 pronounced she has been vital there for the past seventeen years.
Huzaimi Ishak, 32, the dispatch clerk additionally welcomed the housing loan.
He lives with 7 others including his mother as well as the toddler, the little of his siblings as well as spouses as well. They have been vital there for the past decade.
He toldThe Malaysian Insiderthat right away which he has the child, he can request to lease the section during the flats. He had done so eight months ago though has nonetheless to get an capitulation for the next 5 years.
However, others have been uncertain about the intrigue until some-more details have been announced.
Kalesom Hamzah as well as her family. - Picture by Choo Choy May
Her husband, the cab driver, the sole income provider for the family earns RM1,500 the month.
"We do not want to go by the banks si! nce the seductiveness rates have been high," the parents mother to dual toddlers said.
She pronounced previously, if you've lived for some-more than the decade during the flats, which is deliberate as the down remuneration to squeeze the unit.
"We do not want to live elsewhere. It is comfortable here as well as there is great travel around here. If we get stressed sometimes, we can come out here to get the little air," she pronounced indicating to the patio which has dual splendid pinkish chairs.
There have been the little who have been reduction confident as they feel which the suggest sounded as well great as well as so believe the seductiveness rate will be really high.
Mok Chee Keong, who is over 70 years aged has lived in the flats for some-more than dual decades with his mother as well as 3 sons.
"Of course everybody wants to buy the residence though if we have no income to buy as well as can't even get loans, how to buy?" he said.
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