The housing construction assistance agency announced by President Irfaan Ali on Monday will begin taking applications from May 30th.
According to a notice from the Central Housing and Planning Authority (CH&PA) this pertains to families who own lands in CH&PA housing schemes or privately owned house lots.The applicant has to be in possession of ownership documents – title/transport. Applicants can signal their preference from the various housing models on offer and which are valued at $7m, $9m and $12m.
The CH&PA notice said that support will be given through the process of bank financing to meet the cost of construction. Construction of each home will be spearheaded and supervised by the executing agency, it said.
In his address to the nation on Monday, Ali had said “The government will support the applicant through the process of applying for bank financing to meet the cost for constructing the home and will also look at helping in the initial phase of construction by the release of resources to expedite the construction process and help in bringing the banks and homeowners together so that you can own your own home”.
The President explained that while they will help in the process of applying for bank financing to meet the cost of constructing the home, the title to the house lot will be pledged as collateral. Noting that many persons have been expressing interest in homes already constructed under the Ministry of Housing and Water’s homeownership drive, he said that government will also construct homes on behalf of applicants.
“Government will also undertake the construction of a home on behalf of the applicant and deliver to the applicant a complete home in accordance with the option selected. We expect that this measure will help to drastically accelerate the capacity of Guyanese families to own and occupy their own home,” Ali asserted.
The President added that the measure has tremendous benefits as it will accelerate activities in the construction sector, provide opportunities for easy financing and host a number of services under one umbrella. “We have seen over the last months tremendous interest in the government-constructed homes or houses. And our ability to service that interest, has driven us to this conclusion that there is a great need in society for prospective homeowners to have a one stop (or) a comprehensive solution and this measure aims at doing this. Taking away the burdens from prospective homeowners of going to the bank … getting them self-qualified, all of this will be brought under one umbrella. One home ownership management umbrella to make it easier to own your own home,” the President explained.
