THE government has offered to buy land in Kuala Lumpur’s Kampung Baru at the maximum value of RM850 per square foot, said Federal Territories Minister Khalid Samad.

He said the figure was the highest that could be offered and was based on an assessment by the Valuation and Property Services Department.

“The government offers to buy Kampung Baru land at RM850 a square foot. That is the highest estimate by the Valuation and Property Services Department, taking into account the condition that ownership can go only to Malays,” Khalid said when presenting the offer to residents of the Malay enclave in the federal capital in Dewan Perdana Felda today.

“The valuation is based on previous sales of land in Kampung Baru.”

Khalid said the valuation department had proposed the value of the land to be between RM650 and RM850 per square foot.  

He also said structures on the land will also be valued when calculating the compensation owed to landowners.

“Kampung Baru landowners and their families will be compensated for their land as well structures on the land.”

Khalid said landowners will be offered four types of compensation: cash, completed units, a combination of completed units and cash or shares in  a special purpose vehicle.

“The government is making its offer based on the assessment of the Valuation and Property Services Department, but if (landowners) want to make their own valuations, go ahead,” he said.

“The government does not want to cheat. That is why we are doing this transparently. We want to do right by you. Even if the value of the land is between RM650 and RM850, we will not take the lower figure,” he said. – September 21, 2019.