From: http://www.nst.com.my/nation/general/panel-to-help-abandoned-projects-victims-1.67610 (accessed 10 April, 2012).
A study will be conducted to find ways to help house buyers who are victims of abandoned projects, Housing and Local Government Minister Datuk Seri Chor Chee Heung (BN-Alor Star) said yesterday.
“A special committee will be formed to look into this issue and to find ways to assist them.”
At present, he said, buyers who took housing loans from the government would have their loans cancelled if they became victims of abandoned projects.
“They will be considered for another housing loan, or have their four per cent interest rate deferred,” he added.
Chor was replying to a question by Datuk Idris Haron (BN-Tangga Batu) on the measures taken to help house buyers in the event the projects were abandoned.
He said the Housing Development (Amended) Act 2011 which would impose stiffer penalties on developers who failed to complete their housing projects would be enforced in September.
The ministry hoped to revive 35 abandoned housing projects by the end of this year. Since 2009, the ministry had revived 84 such projects, which involved the construction of low-cost houses. (emphasize added).