KOTA KINABALU: The process of subdivision of titles for the entire of 1 Borneo development comprising 2,034 units of mixed residential, commercial properties and hotels would be undertaken in stages in the near future, said Minister in the Chief Minister’s Department Datuk Jimmy Wong yesterday.
He said this followed the issuance of 633 subsidiary titles to the shop buyers of the Centre Point Sabah (CPS).
The entire 1 Borneo development comprises three components and, thus far, only the 995 residential units were secured with the deposits being paid by the developer as required under the Housing Development (Control and Licensing) Enactment 1978, said Wong during a meeting with officers from the Land and Survey Department, the Housing Controller and Surveyor as well as the buyers of 1 Borneo’s residential and commercial units and hotels here yesterday.
Jimmy said on July 20, the Housing Controller had agreed to release the deposit amounting to RM1.486 million to the Board of Surveyors for the purpose of procuring the issuance of subsidiary titles for the residential property owners and purchasers.
He said the deposit would then be used to pay for surveying fees (licensed surveyor), title preparation and plan checking fees (Land and Survey Department) and legal fees for lawyers.
As for the commercial shop owners/purchasers and hotels’ owners, Jimmy said they needed to bear the procurement fees for issuance of subsidiary titles for their respective lots.
Commercial owners do not fall within the meaning of the Housing Development (Control and Licensing) Enacment 1978 and as such are not permitted to use the deposit to pay for the necessary fees for subdivision of titles.
“I strongly urged the commercial and hotel owners to engage a lawyer to undertake the subdivision works. Accordingly, the major owners should take the lead to ensure the whole process of title subdivision can be done swiftly and smoothly.
“I would suggest that they pay the fees to a consolidated account managed or monitored by a legal firm,” he reckoned.
Wong said once the subdivision process was completed, the owners would be given more control over the space they occupy and they can form their own management corporation to manage the common areas.
The entire process of getting the susidiary titles registered is expected to take about one year or one and a half years.
The state government is committed to making sure that the subsidiary titles would be issued in time, if not earlier, he added.