Housing Ministry distributes Deeds of Lease under Self-Help Programme
Created : 25 September 2020
Housing Ministry distributes Deeds of Lease
The Minister of Housing and Urban Development Pennelope Beckles and Minister in the Ministry of Housing and Urban Development Adrian Leonce presented Deeds of Lease to beneficiaries of the Aided Self-Help Housing Programme on September 25 to start construction of their own homes.
In an intimate distribution ceremony at Gosine Street, St Mary’s Village, Carapichama, a token number of recipients received their Deeds. All other successful beneficiaries will be contacted and directed by the Land Settlement Agency (LSA) about the date and time they will be able to collect their documents.
Today, beneficiaries without land, have access to fully developed residential lots. These lots are being offered at only thirty percent (30%) of its market value. Additionally, they will also have access to subsidised mortgages at 2% and 5% interest rates from the Trinidad and Tobago Mortgage Finance Company, approved building contractors, pre-approved house plans, as well as technical assistance and oversight during construction of their homes.
Just over 500 applicants were approved for allocation based on their ability to qualify for the minimum loan amount of $300,000 to purchase the subsidised lots and construct their homes. The GASHP complements the Ministry's Accelerated Housing Programme and contributes toward the increase of the national housing stock.
In congratulating the new Deed holders, Minister Beckles encouraged the beneficiaries to capitalise on the opportunities that will come through home ownership.
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