A disgruntled buyer has moved to the High Court to protect his interest in property in the exclusive Windsor Estates, after saying developer Navigant Builders Inc have failed to complete construction of a house on the land as was agreed some three years ago.
In a recent interview with Stabroek News, the buyer, Nizam Hussain, spoke of an agreement of sale and purchase he entered in 2013 with Navigant Builders Inc. for the purchase of a property in the gated community, which is located in a section identified as Plantation Peter’s Hall, on the East Bank of Demerara.
Of the estimated cost of $34.8 million, Hussain stated that he has made a payment of $26.6 million, and as stipulated by the contract dated December 18, 2013, he was expecting to receive his house by September of the following year.
However, instead of receiving his property at the end of the nine month period, he was met with several requests made by the company for an extension to complete construction.
“They were scheduled to deliver that property to me within nine months but after more than four deadlines, they have failed to deliver the property.
I have paid close to about 90% of the money for the property and I am yet to receive it,” Hussain said.
But even though the several extensions were granted, the last of which allowed the delivery of the property to be pushed forward to July 15, 2016, the man related that the company has failed time and time again to deliver the property by the deadline given.
In light of this, a Caveat was recently filed in the High Court by Hussain’s attorney as notice for intended legal procedure which would see Navigant Builders Inc., being blocked from carrying out transactions linked to a total of 119 properties (parcels 695 to 813) in Windsor Estates until the matter regarding his property has been resolved.
Hussain pointed out that while he was not initially keen on using the property for the purpose of a levy against the developers, said parcels are the only known local assets the company has.
In the Caveat, Hussain claimed an interest in the properties listed and asked that the registration of transfer or other instrument affecting said parcels belonging to Navigant Builders be prohibited until after a notice of intended registration has been given to him.
Also listed were the grounds upon which said interest is based.
These included the developer’s failure to complete the construction of the building within the stipulated period and/or up to present time accompanied by failure to perform the terms of the contract despite several extensions.
Further, it was noted that the principals of Navigant Builders Inc. reside out of the country and the company is not the owner of any known assets in Guyana apart from those contained in Windsor Estates.
Moreover, it was noted that should the company be permitted to dispose and/or alienate the parcels of land registered in its name at Windsor Estate, Hussain would be unable to recover the proceeds of the judgement from Navigant Builders Inc.
Hussain further indicated that the matter is scheduled to be heard by Justice Rishi Persaud on August 25, the outcome of which, will determine the next step forward.
Several attempts were made to contact Danny Sawh, owner of Navigant Builders Inc., for a comment on the issue, however they proved futile.