50% is remitted from the stamp duty chargeable on any instrument of loan agreement and transfer for the purchase of only one unit of residential property costing not more than RM350,000 by an individual who is a Malaysian citizen, provided that:

  • the Sale and Purchase Agreement for the purchase of the residential property is executed on or after 1 Jan 2011, but not later than 31 Dec 2012;
  • at the date of execution of that Sale and Purchase Agreement, the individual does not own any other residential property (only applicable for first house buyer); and
  • the application for the remission of stamp duty may only be made once.

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85 Comments to 50% Stamp Duty on Residential Property

  1. Jay and Jane

    Hi,

    We are planing to buy a house, price is RM369000, and think to loan from bank RM320000 for 25 years.

    May we know :
    1) The stamp duty, legal fees and other related charges on loan agreement that we have to pay. And also MOT.
    2) Our monthly income after deducted EPF and PCB is about RM7000. May we get the loan ?
    3) What is the meaning of “Net Income required” ? Is it means that the net income that already deducted our current car loan and gereral monthly spending / expenses ?

    Thanks for your advise.

    Reply
    • Malaysia Loan

      Hi Jay,
      Your cost estimated as below:
      1. Purchase Price: RM369K
      2. Loan: RM320K
      3. Instalment: RM1724.00
      4. Net Income Required: RM3,832.00 (Your net income 7K >3.8K should be ok)
      5. S&P Agreement Fees: RM5214.00
      6. Memorandum of Transfer: RM6,380.00
      7. Loan Agreement Fees: RM4,851.00
      8. Loan Agreement Stamp Duty: RM1,600.00
      9. Valuations Fees: RM835.00
      10. 10% Down-payment: RM36,900.00
      Total Estimated Cost = RM55,781.00

      3) What is the meaning of “Net Income required” ? Is it means that the net income that already deducted our current car loan and gereral monthly spending / expenses ?
      Ans: Yape the net income is yur gross income minus off ur EPF,PCB,SOSCO, ur credit card minimum payments and any type of loans.

      Reply
  2. yap

    Hi,

    Im planning to get a unit property worth 320,00. Developer says SPA legal fees and a 5% rebate on the 1st 10% downpayment. How much i need to have cash in hand to settle all the blood sucking fees?

    Thanks.

    Reply
    • Malaysia Loan

      Hi Yap,
      Your cost estimated as below:
      1. Purchase Price: RM320K
      2. Loan: RM288K
      3. Instalment: RM1552.00
      4. Net Income Required: RM3,449.00
      5. S&P Agreement Fees: RM4,851.00 (Free)
      6. Memorandum of Transfer: RM5,400.00
      7. Loan Agreement Fees: RM4,613.00
      8. Loan Agreement Stamp Duty: RM1,440.00
      9. 5% Down-payment: RM16,000.00
      Total Estimated Cost = RM28,1851.00

      Reply
  3. TING

    Hi, i am the first time house buyer, i don’t know how much do i need to pay for all the legal fees, including s&p, stamp duty etc..
    House is secondhand house,Cost prices 285,000.i loan 200,000 from the bank. may i know how much do i need to pay for all the procedure fees?

    Reply
    • Malaysia Loan

      Hi Ting,
      Your estimated cost as below:
      Normal 1st House Purchase 50% Discount on Stamp Duty
      Purchase Price:285,000.00
      Loan Amount:200,000.00
      Installment:RM978.03
      Net Income Required:RM2,173.41
      Sales & Purchase Agreement:RM4,591.70
      Memorandum of Transfer:RM4,700.00(Discount 50%=RM2,350.00)
      Loan Agreement Fees:RM3,961.00
      Loan Agreement Stamp Duty:RM1,000.00 (Discount 50% =RM500.00)
      Valuation Fees=RM657.20
      10% Down-payment:RM28,500.00
      Top-Up Differences Amount
      Total Estimated Fees Upon Purchasing =97,059.00

      Reply

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