Residents of Sakoca Settlement in the next two years will have 99 years leases and formalised housing arrangements following the groundbreaking ceremony of the formalisation and development of the settlement.
While speaking at the ceremony, Minister for Economy and Housing and Community Development, Aiyaz Sayed-Khaiyum says the development will cost more than $5 million.
He says he is aware that the residents have paid money to other developers who have disappeared.
Sayed-Khaiyum says the government has stepped in and will carry out the subdivision development at its own cost.
He says in order for them to be able to carry out those developments, people have to make adjustments and they cannot be greedy about it.
Sayed-Khaiyum says the development was held up in a one subdivision for five years.
He says Government some months back presented a bill to Parliament where now they have the ability if they are going to carry out a development of a particular area, then they have the ability to get people to move their homes but if they do not want to move their homes, they can still stay within the subdivision.
He says in order for them to make sure that the roads are all aligned, they will be able to move the house to another space and the Government will actually facilitate that.
He further says their 99 year lease can also be a security to take out loans from the bank and also get a grant of $30,000 to build their first homes if their household income is less than $50,000.
Sayed-Khaiyum adds they were not there to get people’s votes and are commissioning something that has already been budgeted for.
Attorney General and Minister for Housing & Community, Aiyaz Sayed-Khaiyum stresses a point to residents of Sakoca