Sixty-five landowners in Kampung Melayu FRI Kepong, Mukim Batu here are all smiles after getting a 99 year lease extension to their properties.
The original landowners of Kampung Melayu Kepong Fasa 1 and 2 were given a 60 year lease by Selangor authorities before the existence of Federal Territory in 1974.
Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin presented lease extension letters to the 65 landowners here Saturday.
Kampung Melayu Kepong was built in 1968 under three phases. Phase 1 and phase 2 landowners were given a 60 year lease while those under phase 3 got a 99 year lease.
Nong Chik said the Kuala Lumpur Land Committee only charge Kampung Melayu Kepong landowners five percent premium of the market price.
"The Kuala Lumpur Property Valuation Department estimates the current land market value in Kampung Melayu Kepong at RM400 per square metre," he added.
Landowners were given incentives to settle the premiums promptly including a 10 percent discount for lump sum payment one month after receiving notice from the Land and Mines Office.
