Over 500 cement, steel subsidies to be distributed in 2 weeks

Within two weeks, 500 persons will be benefitting through the Steel and Cement Housing Subsidy Programme under the Housing Ministry, to kickstart construction of their new homes.
This initiative comes from a commitment made by President Irfaan Ali at the International Building Expo 2022. On Tuesday, the first disbursement was made.
For homes $6 million and lower, Government will support homeownership by giving every builder the steel and one sling of cement. Secondly, for every other category over $6million until $25 million, two slings of cement will be provided.
During the last budget, $800 million was allocated to this programme and within two weeks, 500 subsidies should be granted.

Chief Executive Officer of the Central Housing and Planning Authority, Sherwyn Greaves said this is being done to expedite foundation construction for new land owners. Applications were taken from all across the country, amounting to 1034. Some 697 visits were done at the sites, to ensure that the lands were ready. Of this number, 397 were recommended and 134 were approved.
Suppliers were also encouraged by the Ministry to come on board, which now allows for uniformed pricing structure across the regions.
Minister within the Housing Ministry Susan Rodrigues shared that this is a way of ensuring persons achieve homeownership.
“Now, when we came to office, we did an assessment that we recognise that there was a gap in the system and that gap is that people are able to acquire their subsidised house but many are still left without a home. And so, we took on the bigger task of being primarily focused on homeownership, helping people to acquire their own homes, moving people from being renters to homeowners and achieving the bigger objective of creating wealth. and increasing people’s net worth,” Rodrigues pointed out.
This is tied into the mortgage application, guaranteed that persons will receive the finances to complete their home.
“By granting this subsidy to an applicant who is approved for a mortgage, we can guarantee that you will then receive the finances required for you to complete that and for you to be the ultimate beneficiary of a new home and to become a homeowner…We want to own property. We want to give life to our Constitution that says affordable housing for Guyanese, we want to give life to that provision in our Constitution.”
Housing Minister Collin Croal said this is another demonstration of Government’s commitment to housing interventions to different categories of citizens, reducing the burdens of homeownership.
“The provision of subsidised housing in developed housing areas also remain a priority of your Government. Even as demand continues to rise, both in public and the private sector…If in any region there are more than one supplier that has been approved, then the pricing remains the same. It doesn’t matter which one of them you go to this is to ensure that we have consistency.
Two tenets must be in place before the subsidy is released – ownership and an approved building plan. Persons occupying private lands can also apply. (G12)