With a menu of measures already announced by the government to help people in the construction of their homes with the removal of VAT on certain building materials, President Irfaan Ali announced this afternoon that his administration will set up a unit special to help people who own land and are struggling to start building their homes.
“The government is proposing to launch a house building support centre… people who have land and need government assistance to build a house on that land can register their interest with a unit that will soon be created for this purpose. At the time of registration, the applicant will also select preference from three pre-designed standard templates; at a cost of $7 million, $9 million and $12 million, depending on the applicant’s income level. The government will support the applicant throughout the process of applying for bank financing to cover the cost of building the house and will also seek to help in the initial phase of construction by releasing resources to speed up the construction process and help bring the banks and landlords together so that you can own your own home,” President Ali announced.
As part of this initiative, the President said that the special housing unit will also undertake the construction of houses for landowners.
“The government will also undertake the construction of a house on behalf of the applicant and deliver a complete house to him in accordance with the option chosen. We hope this measure will help significantly accelerate the ability of Guyanese families to own and occupy their own homes,” he said.
The president said the initiative will help ease the burden of people who have to pay rent and also help accelerate the development of housing programs. A timeline for the establishment of the new housing unit was not presented.
The government tried to fulfill its election promise to distribute 50,000 house lots in five years. Over the years, while many people have been able to acquire residential land, it has been difficult for them to start building their homes for various financial reasons.
For people who are already building their homes, it was announced today that Value Added Tax will be temporarily removed from gypsum and concrete panels.