What is the actual land value difference between Kampung Baru and KLCC?

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Land Value Discrepancy Between Kampung Baru and KLCC

The government's valuation of land in Kampung Baru is significantly lower than that of adjacent areas like the KLCC Twin Towers precinct. Federal Territories Minister Khalid Samad stated that the government's valuation for Kampung Baru land ranges between RM650 and RM850 per square foot. This contrasts sharply with the RM3,000 per square foot valuation for land at the KLCC Twin Towers, located immediately next to Kampung Baru.
Valuation Figures

According to information presented, the official government valuation for Kampung Baru land, as determined by the Valuation and Property Services Department (JPPH), falls between RM650 and RM850 per square foot. This figure was presented by Minister Khalid Samad during a townhall session with residents. In contrast, property firms have valued land in the immediate vicinity of Kampung Baru, specifically around the KLCC Twin Towers area, at a premium ranging from RM2,000 to RM3,000 per square foot.
Perceived Undervaluation

Landowners in Kampung Baru have expressed strong dissatisfaction with the government's valuation, feeling their land is markedly undervalued. During a townhall session, attendees questioned why the government's valuation was based on JPPH figures rather than independent valuers, suggesting that this approach prevented landowners from achieving the best possible price for their property. The proximity to the highly valued KLCC land was frequently cited as evidence that the RM850 per square foot offer was too low.
Potential Earnings

Despite the perceived undervaluation, the government's offer, even at the stated RM850 per square foot maximum, could still result in substantial profits for individual landowners. It was estimated that selling their land on the government's terms could yield at least RM6 million per plot, given that the average plot size is approximately 8,000 square feet. Landowners were also presented with various compensation options, including cash, a combination of cash and property, or shares in the redevelopment project, which has an estimated gross development value of RM30 billion.

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What is the actual land value difference between Kampung Baru and KLCC?

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