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Actually I have very limited knowledge on this issue. What I know is that the Kg Buah Pala land in Gelugor, Penang, was initially sold by BN government before 2008. However, the deal was confirmed by current PR government. The court then ordered eviction of its residents.
The developer, Nusmetro is currently building a few blocks of luxury condominiums (The Oasis Condominium) at this site.
There are 24 families finally accepted the compensation package which include RM8000 and a double storey terrace house at the same site, which is Gelugor in the Penang island. The value of the house is said to be RM500,000. However, I think it is at least 20% more than this figure now.
At Gelugor: looks elegant
For the other 9 families who have rejected the compensation by the developer, recently the BN government has helped them to get double storey terrace houses as well, but the location is at Teluk Air Tawar, Seberang Perai. The terrace house is said to worth RM220,000. Anyway, if the undersea tunnel project materialize, its value may increase.
At Taluk Air Tawar: looks ordinary
The same double storey terrace house, but a vast difference in its value. This is Penang island vs Penang mainland.