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Contact:
Christopher Satney
Thursday, September 27, 2007 – The Saint Lucia National Housing
Corporation (NHC) is inviting applications from prospective first
home-purchasers for land and house packages at its Marigot Estates Project.
The announcement came at a ground breaking ceremony Wednesday September 26th
which signalled the start of construction work on what is being termed as,
probably the final housing project in the general Castries area.
The project which involves the subdivisions of 24.5 acres of land, vested in the
NHC by the Government, will consists of 116 lots at an average size of 5000 sqft.
Managing Director of the NHC Joseph Alexander says applications will be accepted
as soon as of Tuesday next week.
“I therefore urge Saint Lucians to apply for a land and house package from this
housing development. In particular the men, who over the years, would prefer to
own a depreciating asset such as a car rather than a home, which our records
indicate significantly appreciate over the years,” Alexander said
Minister for Housing and Urban Renewal Honourable Richard Frederick, who broke
ground with Prime Minister Honourable Stephenson King said the project is the
first of several developments to be initiated under his supervision. With
projects in Anse-La-Raye and Soufriere all lined up the minister had some strong
words for property speculators.
He said, “There are persons who believe that they can buy property from
government for a price well below the market value and later resell. That in no
uncertain terms will be tolerated. To combat this pervasive practice clauses
will be placed in the relevant deeds of sale, stipulating clearly, among other
things if a purchaser wants to resell, before the expiration of the given
period, he or she will have to do so to the Corporation at a pre-agreed price.”
To qualify for the purchase of property, applicants must be first-time home
buyers, who have no other properties registered in their names and must meet the
qualifying criteria set out by the financial institutions, for approval of the
loan amount.
Applications forms, which carry a cost of five dollars, are available at the NHC
office at Sans Souci and qualified applicants will be invited to place a
refundable deposit of ten thousand dollars. The NHC has set a deadline of
October 31st 2007 for receipt of applications for the Marigot Estates
properties.
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