KUALA LUMPUR, Feb 25 — The plot ratio cap for city development has been set at 1:10 under the Kuala Lumpur City Plan 2020 (KLCP 2020), says Federal Territories Minister Khalid Abdul Samad.
He said the requirement applies to all types of development, including commercial and residential.
“The lower plot ratio might not be good news for some developers as fewer office units are allowed to be built on the same plot of land which will, in turn, affect the profitability of their projects.
“However, there is an exemption for specific projects but with conditions,” he told reporters during the International Conference on Greater Kuala Lumpur and Putrajaya here today.
He said currently there is no moratorium on new property projects but their “size” will be monitored through limiting the plot ratio according to the KLCP 2020.
“The plot ratio cap is to help regulate the number of high-rise projects. We still welcome the people to come (invest), but we have to limit (build) the office units as regulated.
“If the parcels they have bought are granted a plot ratio at above 10 in the approval in principle, we will take a look at it and consider on a special basis, because they were promised.
“But if they want to take that business risk, that is up to them,” he said.
On February 11, The Edge reported that property projects which were previously granted approval in principle with a higher plot ratio than what is permitted under the newly gazetted KLCP 2020 are required to seek fresh approval from Kuala Lumpur City Hall (DBKL).
The requirement applies to all types of developments, including commercial and residential, in the capital city, according to DBKL’s city planning department director Nurazizi Mokhtar. — Bernama