With the passage of the Condominium Bill, the Ministry of Housing and Water has received some 70 Expressions of Interest (EoI) for the construction of condominiums and townhouses.
Minister, Collin Croal said the ministry has commenced the administrative aspect, which allows investors to register for the construction of Condominiums at the Central Housing and Planning Authority (CHPA).
“We have moved on that aspect and so we expect a lot of applications for persons to construct similar types of buildings,” Minister Croal told DPI on the sidelines of the recently concluded International Building Expo.
The minister said as Guyana’s economy progresses, there is a need for higher standards and more modern approaches to housing development.
Already, Guyanese-owned Trican Development Inc is planning to construct a 10-storey building to be used for 54 condominiums on three acres of land in Cummings Lodge.
“That is why Guyana is expected to evolve because it provides a gain, another lifestyle, another type of housing you can benefit from…you have a space, you pay for that space and no additional responsibility in dealing with yard space issues if you are busy or on the move,” he explained.
Described as a ‘modern’ piece of legislation, the Condominium Bill 2022, was passed on May 17 in the National Assembly, paving the way for the construction of condominiums and the conversion of existing buildings into units for individual ownership.
More importantly, it allows persons who have purchased duplexes or condominiums from the state to access their ownership documents for their lands.
The crafting and tabling of such a bill fulfills the promise of the PPP/C Government after it was discovered that the former Coalition Administration constructed duplexes (a home with two individually-owned units in one building) without amending the relevant legislation that guides the regulation of such properties. (Extracted and modified from the Department of Public Information)
