Property
KL grapples with overdevelopment
Roznah Abdul Jabbar | 24 Aug 2018 00:30
In the property market, it is an acknowledged fact that location is key as it determines the value of the development.

Property developers tend to flock to areas which are seen to be in strategic locations and most of the time, this can result in overdevelopment. Take the scenario in the Kuala Lumpur city centre as an example.

The vicinity of the Petronas Twin Towers or KLCC has seen an increase in terms of land value and development activities.

There are reports that the area is overdeveloped as developers and land owners are trying to reap maximum profits.

Former Valuation and Property Services Department (JPPH) director-general Datuk Mani Usilappan says density is high in that area as land value has been on the rise and developers have to utilise the land and maximise its value.

He points out that the plot ratio is often increased as per the developers’ request in an attempt to fully capitalise the parcels of land.

“Reasonable control is definitely needed in terms of building height, proximity and density. Plot ratio for that area is pretty high,” he tells FocusM.

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