New Condominium Bill serves as ‘rescue’ to Guyanese – PM Phillips
The landmark passage of the Condominium Bill No.4 of 2022 in the National Assembly on Tuesday will serve as a form of ‘rescue’ for a number of Guyanese.
Prime Minister, Brigadier (Ret’d) Mark Phillips, M.P, said due to the significant number of complaints received from citizens, the PPP/C Government was forced to table the bill in the House.
“The APNU+AFC Government sometime between 2015 and 2017, had a bright idea of constructing duplexes as an initiative to provide housing to Guyanese, but as it typical of the APNU+AFC, no idea is ever well thought out, and the people are left to face the consequences of their incompetence,” the Prime Minister stated.
He said the previous Coalition Administration implemented a duplex housing project without ensuring it covers all aspects. The move, he explained, turned into dismay and citizens faced many difficulties.
“Imagine giving houses to people looking forward to home ownership only for those persons to find out that there is absolutely no law that provides any protection for their hard-earned money which they invested, and not being able to even been granted a title to show for their accomplishment of home ownership and security for themselves and future generation,” the Prime Minister noted.
Persons who occupy the homes are not the only ones facing the difficulties, but banks and private investors too, were affected.
“The lack of legal framework hindered banks from being able to provide support to many, especially young people and poor families who needed loans. Private investors too who explored this avenue for investment also found it difficult as the law simply did not exist, but yet we had a government offer this to the people,” PM Phillips pointed out.
Additionally, the Prime Minister said the bill will lay the foundation for condominiums to be built and sold with access to services from banks, insurance companies, and more importantly, for titles to be granted for individual home ownership as stipulated by law.
With six parts and 65 clauses, the bill makes provision for the horizontal vertical subdivision of and land and buildings into units for individual ownership, and for the use and management of condominiums.
Clause 44 empowers unit owners to ensure their respective units. The bill also requires that proposed declarations and descriptions of units be approved by the minister before a condominium is constructed or before an existing building is converted into a condominium. It also empowers the minister to approve, reject or direct the amendment of a proposed declaration and description.
The crafting and tabling of the legislation fulfills the promise of the PPP/C Administration.