Bahamas government to offer ready-to-build lots from $10,000

Bahamas: Prime Minister Dr Hubert Minnis participated in the formal groundbreaking ceremony for a new Government subdivision that when thoroughly developed, will host 365 lots for home building.

The Carmichael Village Subdivision, stationed west of Lazaretto Road, will accommodate individual and multiple-family residence, and additional lots will be utilised to build community parks and other public areas for inhabitants.

This new construction is part of the Government’s push to assure that more Bahamians, in precise, young Bahamians, have more prominent access to the property, and by affordable extension homes, stated Prime Minister Minnis.

“We concluded that we would persevere a policy of ready-to-build serviced lots as a plan to help achieve our objectives, told the Prime Minister.

The serviced lots programme has three spines. It gives land at rates far below market price so the land may be used as collateral; guarantees that the land has infrastructure; and contributes grants to enable Bahamians to develop at considerably decreased prices.

The cost tag for Government serviced lots begin at $15,000 on New Providence and less than $10,000 on the Family Islands.

Serviced-lots landlords are also qualified to profit from concessions under the Access to Affordable Homes Act, 2018, including the exclusion of customs duties and excise tax on all essential building supplies for the construction of their house.

“Today’s groundbreaking here at Carmichael Village is a perfect example of my Government achieving our pledge to meet the necessities of Bahamians,” said Prime Minister Minnis.

The Prime Minister declared at the ceremony that 10 percent of the serviced lots in the Carmichael Village Subdivision will be given for Bahamians with disabilities.

Prime Minister Dr Hubert A. Minnis sworn in as Minister of Finance

In another event on the same day, Prime Minister of Bahamas, Dr Hubert A. Minnis was sworn in as Minister of Finance by Governor-General, Sir Cornelius A. Smith during a brief event at the new offices of the Governor-General, One Montagu Centre, Eastern New Providence.

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