Home ownership could become easier
Vice-President, Dr Bharrat Jagdeo speaking at the community meeting at Novar, Mahaicony on Wednesday
Vice-President, Dr Bharrat Jagdeo speaking at the community meeting at Novar, Mahaicony on Wednesday

–gov’t explores building homes for landowners without capital under model to recover cost

IN a bid to make homeownership much easier, the government is exploring a model where it builds the homes for persons who own land but do not have the capital to build.
According to Vice-President, Dr. Bharrat Jagdeo, the government will build the homes and the new homeowners, in return, will take a loan from a bank to repay the government.

This model, if approved, is expected to see the government and the landowners enter into an agreement on the specifications of the houses to be built, and the houses being used as collateral for the granting of a loan from a commercial bank to refund the government for the project.

Speaking at a community meeting at Novar, Mahaicony, in Region Five (Mahaica-Berbice), Dr. Jagdeo pointed out that these projects would be extended to persons outside of government-developed housing schemes.

The People’s Progressive Party/Civic (PPP/C), in its 2020 elections Manifesto, promised to distribute 50,000 houselots in its first term in office, and thus far, according to Dr. Jagdeo, more than 10,000 lots have been delivered since his party assumed power less than two years ago.

Government officials listen to Region Five residents with concerns during the Vice-President’s outreach to the region on Wednesday (Office of the Vice-President photos)

This is more than the 7,089 houselots the Coalition Government delivered during its five-year tenure.
“This year’s budget, we have budgeted enough resources to start putting in the infrastructure for another 30,000 plots,” the Vice-President told the residents of Region Five, and contended that the government ‘under-promised’ in its Manifesto.

He noted that the Dr. Irfaan Ali administration never promised the construction of housing units, but the government will be building thousands of them across the country. Work has already begun on several government-developed housing schemes.

Under this scheme, the State builds the homes in government-developed housing schemes, and persons, through a loan from a commercial bank, acquire a property of their choice, with the mortgage payments going to the government as repayment for the money it has invested.

In Linden, the government is building 1,000 such housing units, and another 100 at Williamsburg, in Region Six (East Berbice-Corentyne).

“I don’t know what the appetite for that State-sponsored construction of low-income housing is in Region Five, but we can explore that,” the Vice-President said as he assured the residents that the government is willing to assist those who may not have the capital, but want to get their homes built.

Housing and Water Minister Collin Croal, earlier this year reported that some 590 low and moderate-income homes are being constructed, according to a Department of Public Information (DPI) report.

Notably, 350 two-bedroom elevated units are being built in Cummings Lodge, Greater Georgetown; 100 two-bedroom flat units in Prospect, on the East Bank Demerara; 100 two-bedroom flat units in Williamsburg, in Region Six; and 40 two-bedroom elevated units in Amelia’s Ward, Linden, in Region 10 (Upper Demerara-Berbice), the DPI had reported.

At Cumming Lodge, some of the houses have been completed, and allottees have already begun occupying them.
Some 350 young professional housing units are being constructed. Two hundred two-storey and flat units are being constructed at Providence, East Bank Demerara, and another 150 are under construction in Prospect, Minister Croal had noted.

In addition, under the Core Home Support Initiative, 25 new housing units are being built in Sophia, Greater Georgetown, and at La Parfaite Harmonie, on the West Bank Demerara. These houses will be sold to low- income and vulnerable families at subsidised costs, Minister Croal said.

Meanwhile, Vice-President Jagdeo said that apart from housing, the government is also investing significantly in public infrastructure, including roads. In this year’s budget, some $1B has been budgeted for community roads in Region Five, the biggest allocation yet for the region.

The allocation to the region for these works, he said, will be kept high, so that most of the roads in the region are fixed and remain in good state.

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