Dear Editor,
Many of the Ministry of Housing’s land allottees who have fully paid for land are in possession of Titles and Transport documents in the allottees’ name, heirs and executors. Yet, where construction has not been completed they have been made to sign “repossession” forms at the Ministry of Housing. Many issues arise.
President Jagdeo, according to the media, has declared government’s intention to make a large revolving fund available to those persons who have allotted land but have financial difficulties completing their dwelling homes.
The New Building Society has extended its caring voice and loving inviting arms to the allottees as unconditional owners of the land paid for (SN 7/06/09). Title documents will evidence ownership. One of the dilemmas allottees will face is insurance policy assignment to the financial institution if he or she is a policy holder with CLICO.
The government can make good mileage if (a) the Value Added Tax (VAT) is reduced or exempted on domestic building materials and fittings; (b) all listed allottees who have not completed construction and have been written to, should be given soft loans from the revolving fund; (c) the fund and loan should be administered by the Ministry of Housing so that those whose paid up land will be repossessed will not have an elusive dream and (d) the Ministry of Housing needs to seek professional engineering advice and that a sound concrete structure cannot be completed in the shortest possible time of three months taking into consideration the recommended time for concrete to cure.
Yours faithfully,
Latchman Hardeo
