Government Aided Self-Help Programme Deed of Lease Distribution
Port of Spain, September 25, 2020: The Honourable Minister of Housing and Urban Development Pennelope Beckles, and the Honourable Minister in the Ministry of Housing and Urban Development Adrian Leonce presented Deeds of Lease to beneficiaries of the Ministry’s Aided
Self-Help Housing Programme on September 25, 2020 to start construction of their very own home.
The Honourable Minister of Housing and Urban Development Pennelope Beckles, and the Honourable Minister in the Ministry of Housing and Urban Development Adrian Leonce, with some of the beneficiaries of the Government Aided Self-Help Programme.
In an intimate distribution ceremony at Gosine Street, St Mary’s Village, Carapichama, a token number of recipients receiveda their Deeds of Lease today. 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 Deeds.
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 five hundred (500) applicants were approved for allocation based on their ability to qualify for the minimum loan amount of $300,000 to purchase the subsidized 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 capitalize on the opportunities that will come through home ownership.