Stamp duty amendment Bill passed

KUALA LUMPUR:The Dewan Rakyat has passed the Stamp Duty Amendment Bill 2010, which among others enables transfer of non-standard properties to be expedited from 10 days to only two days.

From March 1, the Valuation and Property Services Department (JPPH) had classified real estate into two categories - standard property and non-standard property.
Standard property refers to terraced housing units (except for end lots, units with extensions and uncompleted units) while all others are classified as non-standard property.

The stamp duty amount for the properties will only be fixed after receipt of the valuation report from JPPH.
-- Bernama
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