–during engagement with authorities of Housing and Water Ministry
CONSTRUCTION of 20 middle-income houses has commenced under the supervision of the Central Housing and Planning Authority (CH&PA) in Amelia’s Ward, Linden, Region 10, and already over 200 persons have expressed an interest in owning one of those units.
Chief Executive Officer (CEO) of CH&PA, Sherwyn Greaves, visited the mining town on Wednesday, where he engaged with shortlisted applicants.
The CEO said that over 200 Lindeners have expressed interest in owning one of the units, but 60 have been shortlisted so far.
Wednesday’s exercise was geared at guiding the applicants on receiving pre-qualification from financial institutions and other key stages of the homeownership process.
“Construction of the homes has started and it is our intention to have persons identify their house lots, their houses… and to ensure they can acquire these houses, as early as possible, and be able to monitor the homes throughout construction,” Greaves said.
Most of the applicants for the houses are said to be young professionals, including healthcare workers, law enforcement officers and other public and private sector workers.
The houses are 600 square feet, two-bedroom elevated units that will cost a total of $7.5 million, inclusive of the cost of the land which is $300,000.
Greaves related that successful applicants are required to pay CH&PA an initial $660,000, which includes the cost of the land and five per cent of the cost of the house ($360,000).
He further said that in its bid to offer affordable home financing, CH&PA has liaised with several banks to provide additional funding to applicants.
“We have engaged the New Building Society, the Guyana Bank for Trade and Industry and Demerara Bank, which have agreed to give preferential interest rates for those persons who want loans. They have also reduced the legal fees by half and waived other fees and charges,” the CEO told the potential homeowners.
He said that while the Guyana Bank for Trade and Industry and Demerara Bank do not currently offer services in the region, CH&PA is engaging Republic Bank which is in a position to do so.
Construction of the first 20 houses started some weeks ago, following an announcement by President Dr. Irfaan Ali, earlier in the year, of a 1,000-home project for Linden.
Greaves said that the 40 units being constructed are part of the first stage of the overarching project.
He added that another 50 houses will be constructed before the end of the year. Following the outreach, he visited the site where the houses are being constructed to inspect the level of works. In addition to the units being built, CH&PA is also undertaking several infrastructural projects at Amelia’s Ward, Wisroc and Watooka, Region 10.