KAJANG: The government will look into narrowing the differences between property valuations done by the public and private sectors, says Lim Guan Eng. The Finance Minister said the differences could be because of the different methodologies employed by the Valuation and Property Services Department (JPPH) and private sector valuers. This was so that property valuations that accurately reflect the property market could be made, he added. For houses sold above RM1mil and up to RM2.5mil, stamp duty exemption applies for the first RM1mil, and the rest will be charged at 3%. Stamp duty on loan agreements for properties up to RM2.5mil would be exempted, compared with the previous rate of 0.5%.

Source: The Star April 30, 2019 04:41 UTC