SHAH ALAM, 21 Nov: The wisdom of the State Government in redeveloping the stalled housing project in Bukit Botak did not only safeguard the fate of more than 700 families but also succeeded in reducing the subsidy sum which the Selangor State Development Corporation (PKNS) would have to shoulder.
During the 2013 Budget debate at the State Assembly (DNS) sitting, Bukit Antarabangsa Assemblyman, Azmin Ali said that under the Umno-BN administration previously, PKNS had to bear subsidies up to RM140 million.
In 2005, Umno-BN had taken over private projects and had instructed PKNS to be involved in completing the project with a sales value of RM42,000 per unit.
Instead, under the administration of Tan Sri Abdul Khalid Ibrahim, the State Government had acted to assess the current value and increased the value of that particular residential property by 52 percent.
The total amount of subsidy PKNS shouldered reduced to RM80 million for 1,422 housing units.
The Bukit Botak Housing Project which is estimated to complete fully in December will be sold at the rate of RM99,000 per unit although the market value is RM250,000.
“With this new scheme, PKNS will not have to shoulder subsidies that are too high and also complete the housing project.”
“Buyers will also realise that they will be able to profit exponentially should they resell the house,” Azmin explained.
Last April, 707 city settlers who were promised land under the Bukit Botak relocation scheme by the Selangor Umno-BN almost 30 years ago had taken place in a draw to determine their house number.