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Five-year repayment term for housing project

Repeka Nasiko
Friday, January 25, 2013

WHILE relocation plans are expected to begin soon for 25 households living in Clopcott Settlement in Ba to make way for a squatter upgrading project, a payment term for each lot has already been drawn up by the Ba Town Council.

Special administrator Arun Prasad said the five-year payment term for the residents made up mostly of people living below the poverty line had been extended to seven years.

Mr Prasad said this was enough time for the residents to pay for the land. He said at the completion of the project next year, the lots, which would be given first to the families being moved, would be sold at a reasonable price.

"The first two years there will be no interest and then the next five years, only 3 per cent of interest will be charged," Mr Prasad added.

A special committee set up to provide a voice for the informal dwellers welcomed the move by the council. Clopcott Squatter Settlement Upgrading committee member Nitya Nand said the payment term was good news for informal dwellers living in Ba.

"The price of each lot is very reasonable and affordable. And seven years is enough time for us to pay for the land," he said.





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