News: Reduce Car Park Bays In TOD Projects, Says Minister

Oct 21, 2019

Transport Minister Anthony Loke has proposed to give developers of transit-oriented development (TOD) projects the option to slash the number of car park bays in order to lower the prices of homes. 

He believes that this will encourage residents to use public transport, indirectly reducing traffic congestion.

“I see this as killing two birds with one stone as we could encourage the people to use public transport and reduce the cost of houses as the construction of car park is a cost to developers,” he said as reported by Bernama. 

Read this: Check out this guide on the top 5 TODs in Klang Valley

“However, this is only a proposal and it is up to the Housing and Local Government Ministry which has the jurisdiction on the matter.”

With easy access to transportation, new development projects may no longer require excessive car parks for every strata unit, said Datuk Soam Heng Choon, president of the Real Estate and Housing Developers’ Association (REHDA).

He believes that this would have a positive effect on house prices since the cost savings would translate to lower prices.

“For example, the cost of building a car park in KL today is RM50,000 per bay. So currently if we construct an apartment, there is a requirement for two car parks plus 10 per cent for visitors. So if we could reduce by one car park bay, we can save RM50,000. This is the impact we can have on property price,” he said.

He described Loke’s suggestion as “something sensible” as the reduction in car park requirement could actually bring down the cost.

“After this, I will be going back to my fellow developers, if they have any projects that is near TOD, we will then work with the local authority, to cooperate with MOT and Housing Ministry. And see whether we can find an applicable solution and suggestion which can benefit the rakyat at the end of the day,” added Soam.

 

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