One day land title transfer registration improves Malaysia's position in World Bank report | Land Portal


One day land title transfer registration improves Malaysia’s position in World Bank’s ‘Doing Business’ report.

The efficiency of the one day land title transfer registration had contributed to the country's position in the 'Registering Property' indicator evaluated by the World Bank's 'Doing Business' report.

The Federal Territories Director of Lands and Mines Office (PPTGWP) said Malaysia is ranked a creditable 33rd out of the 190 economies for 2020 in the report.

"The procedure was introduced by the Department of Director General of Lands and Mines (JKPTG) and implemented by all land offices in Peninsular Malaysia since 2010," it said in a statement.

Land transfer is one of the transactions under the National Land Code and is a form of land ownership transfer transaction from a registered owner to another party.

The procedure is for a period of one day or 24 hours for registration of a complete transfer application and is eligible for registration under the law.

The Kuala Lumpur PPTGWP represented all the land offices in Malaysia in determining Malaysia's position in the Registering Property indicator and has managed to maintain the 100 per cent target until now.

"The achievement proves the efficiency and effectiveness of the land transfer registration process as well as facilitating foreign investors to do business in Kuala Lumpur.

"It indirectly contributes to the country's economic growth and competitiveness in the real estate investment sector," PPTGWP said.

Other agencies that are also involved in the evaluation are law firms, JKPTG, the Department of Survey and Mapping Malaysia (JUPEM), the Inland Revenue Board of Malaysia (IRB) as well as the Valuation and Property Services Department (JPPH).

The procedure is also implemented for strata ownership in line with the e-land system enforced in the Federal Territory of Kuala Lumpur starting from June 19, 2017. The PPTGWPKL scored 100 per cent for this strata transfer. - Bernama

Copyright © Source (mentioned above). All rights reserved. The Land Portal distributes materials without the copyright owner’s permission based on the “fair use” doctrine of copyright, meaning that we post news articles for non-commercial, informative purposes. If you are the owner of the article or report and would like it to be removed, please contact us at hello@landportal.info and we will remove the posting immediately.

Various news items related to land governance are posted on the Land Portal every day by the Land Portal users, from various sources, such as news organizations and other institutions and individuals, representing a diversity of positions on every topic. The copyright lies with the source of the article; the Land Portal Foundation does not have the legal right to edit or correct the article, nor does the Foundation endorse its content. To make corrections or ask for permission to republish or other authorized use of this material, please contact the copyright holder.

Share this page