GEORGE TOWN: The Penang government has decided to postpone its decision to raise the contribution fee by developers who fail to build low-cost and low medium-cost housing until the year-end. State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the state received complaints from Penang Real Estate and Housing Developers Association (Rehda) and other stakeholders after the new rate was imposed on Feb 1. “You must understand the reason we have this contribution - the state government wants low-cost and low medium-cost units to be built. “The contribution fee serves as a penalty to developers who do not build such housing units,” he said. Jagdeep said the contribution was being raised so that the state government would have the funds to build low-cost and low medium-cost housing.

Source: thestar April 13, 2017 00:14 UTC