Payment Schedule for Under Construction Property

All properties under construction have to be subjected to the provision of Housing Development Act. 

This is Act being enforced to protect all Malaysian buyers as well as foreigners.

A typical payment installment schedule for purchase the under construction property in Malaysia as following:-

1.	Immediately upon the signing the Purchase Agreement – 1st payment balance 10% after deducting the booking fee.	10%
2.	Within 21 working days after receipt by the Purchaser of the Vendor’s written notice of the completion of:-
	a.) The work below ground level including piling and foundation of the said Building comprising the said parcel.	10%
	b.) The reinforced concreate framework and floor slab of the said Parcel.	15%
	c.) The walls of the said Parcel with door and window frames placed in position.	10%
	d.) The roofing / ceiling, electrical wiring and internal telephone trunking and cabling to the said Parcel.	10%
	e.) The internal and external plastering of the said Parcel.	10%
	f .) The sewerage works serving the said Building.	5%
	g.) The drains serving the said Building.	5%
	h.) The road serving the said Building.	5%
3.	On the date Purchaser takes vacant possession with water and electricity supply ready for connection.	12.5%
4.	Within 21 working days, Authority of the application for subdivision of the said Building.	2.5%
5.	On the date the Purchaser takes vacant possession of the said Parcel as in item 3 and to be  held by the Vendor’s solicitor as stakeholder for payment to the Vendor as follow:-
	a.) At the expiry of 6 months after the date the purchaser takes vacant possession of the said Parcel.	2.5%
	b.) At the expiry of 18 months after the date the Purchaser takes vacant possession of the said Parcel.	2.5%
Under the Housing Development Act of Malaysia, the construction schedule is 36 months from the date of signing Purchase Agreement.