Our CEO of Leks&Co writes an article titled “Reducing the Residential Backlog” as published in Legal View section in Forbes Indonesia magazine.
On this article he explains huge residential backlog, especially in Jakarta. This backlog, he said, demands immediate attention. The condominium law and residential law, both promulgated in 2011, have stipulated that the government is responsible for the construction of public housing and condos, with assistance from private parties. In addition, the regional government has the right to reduce the acquisition levy for land and building transfers for every purchase of public housing or public condominium.
To help reducing this housing backlog, the DKI Jakarta government has issued a regulation charging 0% in BPHTB for every taxpayer who obtains land and buildings through a first-time sale and purchase, or a first-time issuance of land right within the DKI Jakarta area, as long as the taxable value does not exceed Rp 2 billion.
Eddy Leks has been recommended by Legal500, asialaw Profiles, Chambers&Partners, IFLR1000 on corporate and mergers acquisition, construction and real estate, and commercial dispute resolution.
Should you have any queries, you may contact us at query@lekslawyer.com
