The Central Housing and Planning Authority this morning announced that it has commenced court proceedings in an effort to repossess the plot of land, which was recently advertised for sale by Sunset Lakes.
The land was reportedly sold under the previous government to one company for housing development but that company sold it to another company, which has been unable to complete any housing development project. Now that the company has ran into financial problems with the bank, the land has found itself in receivership.
Advertisements recently appeared in local news papers indicating that “The Receiver-Manager of Sunset Lakes Inc., invites tenders for local and foreign parties interested in purchasing 100 acres of land en bloc or less, located in the PROVIDENCE…”
In a statement the Housing Authority announced that on July 20th, 2017, it initiated legal action against Sunset Lakes Inc. as it relates to property situate at Parcel 130 Plantation Providence, East Bank Demerara.
The Central Housing and Planning Authority wants the Court to grant a declaration that it is entitled to rescind the Agreement of Sale and Purchase made and entered into, on the 7th February, 2014 with respect to the Providence property.
It also wants the Court to grant an Order rescinding the said Agreement of Sale and Purchase made and entered into at Georgetown Guyana between the CHPA and the Defendant.
Additionally, the Central Housing and Planning Authority also wants an order for it to refund to the Defendant the sum of $458,180,000, being the value paid by the Defendant for the aforementioned described land, less “the sum equivalent to 10% of the sum paid as a penalty for breach of the terms and conditions of the said Agreement of Sale and Purchase and which is $45,818,000”.
The Court is also being asked to grant an Order directing the Registrar of Lands to recall and cancel the title for the property and an order directing the Registrar of Lands to re-register the said land in the name of the Central Housing and Planning Authority.
In addition to those requests, the Central Housing and Planning Authority also wants an Order directing the Defendant to give up the vacant possession and occupation of the land.