More ‘condo styled’ buildings for Guyana as ‘modern’ Condominium Bill is passed

0

Regarding it as a modern piece of legislation amid new demands for higher standards and more accommodation in housing, the Condominium Bill was passed on Tuesday during the 47th Sitting of the National Assembly.

Few Opposition Members of Parliament (MPs) were present for the debate and while they did not vote against the bill’s passage, their support was partial as those who took part in the debate recommended that it be sent to a Special Select Committee.

The Opposition’s contention is that the government had failed to consult extensively, particularly with the parliamentary opposition, before tabling the bill.

But Housing and Water Minister Collin Croal, in whose name the bill was tabled, disagreed with this contention and was backed up by the other government MPs who joined him in the debate.

Croal, in wrapping up the debate, took time to call the names of several persons who were involved in several sessions of consultations, drawn from stakeholder institutions, including local banks, insurance companies, the Association of Bankers, the Institute of Private Enterprise Development (IPED) and other stakeholders from several government agencies.

“It is our intention to move very quickly when this bill is passed to put the necessary administrative procedures in place,” Minister Croal assured the House.

In fact, the Housing Minister along with several other government ministers, pointed out that the bill was righting a wrong done to well over 40 owners of duplexes under the previous APNU+AFC Coalition administration.

They told the National Assembly that the dozens of duplexes built by the Coalition lack the legislative support it needs.

Failure to amend the dated Condominium Act had resulted in the homeowners, who invested in the duplexes, failing to secure insurance and titles for the property because they only had a certificate of sale and not a transport or title.

“The owners of those 46 duplexes built by the last administration can sleep better tonight knowing their legal position is more defined and protected by law…they will be able to secure property rights,” Croal noted.

Minister of Housing and Water, Collin Croal (Photo: DPI/February 26, 2021)

Six months after this bill comes into effect, owners of units will have to prepare a declaration and submit same to Registrar at the Deeds and Commercial Registry for registration.

Upon registration, the owner will now be issued with a transport or certificate of title and once issued with that document, the existing certificate of sale will no longer carry legal effect.

The law will see the establishment of regulations and associated fees will be consistent with current administrative fees for similar services.

“It is a modern piece of legislation that is on par with other territories… it is timely and relevant to emerging trends in home buildings.

“It has limitations but we will continue to examine and put forward solutions,” Coral added.

Altogether, the bill makes provisions for the building of condos in a highly regulated public sector and imposes a duty to ensure the repair of damages.

 

Advertisement _____
Leave A Reply

Your email address will not be published.