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KUALA LUMPUR (Sept 21): The federal government is offering the maximum value of RM850 per square feet for Kampung Baru land, which makes the average 8,000 square feet plot to be worth more than RM6 million.
Landowners with properties on their plot of land will be paid an additional amount based on the value of the property.
According to an online article by the Malay Mail today, Federal Territories Minister Khalid Abdul Samad said the amount offered was based on the best value of the land considering its status as Malay Agriculture Land.
He was speaking at a townhall session with Kampung Baru residents in Kuala Lumpur today.
Land with such status are often capped at a much lower price even if the location is deemed premium.
Previously, price for land in the area is between RM300 and RM800 per square foot.
