Many villages in Guyana hold historical significance in one-way or the other, some greater than some and others whose very existence provides solace to those who may have had golden memories. Leonora on the West Coast of Demerara is one of these places. Situated some nine (9) miles from Vreed-en-Hoop, the name Leonora is Dutch, originating from the names of two Dutch children, Nora, a girl and Leo, a boy. This once busy plantation was the hive of economic activities mainly because of the presence of a sugar estate where most people on the plantation and even from surrounding villages used to be employed. With the highly anticipated construction of a new and improved Demerara Harbour Bridge, which is expected to connect Houston on the East Bank and Versailles on the West Bank, Lenora stands to become one of the more developed villages Guyana has seen in that region.
The community is set to comprise 91 plots of land, 8 of which are commercial, while the others will house families. Four (4) of the commercial plots stand at 24,000 sq. ft, and twelve (12) are currently under construction. Sheriff Construction Services promises to work diligently to construct affordable homes for clients, and that all homes constructed and placed on the market, are of the best quality and most affordable cost.
The very first two houses on each street of the community are set to be marketed for $40 million GYD each.
Each house will be built to a superior standard and will be two (2) stories each. Buyers can choose from three (3) different styles of homes; fully enclosed with bedrooms upstairs and a kitchen downstairs). This style of home will be the highest selling, for a cost of $25 million GYD, 25ft by 40ft house size. Persons may choose to have their 2-story home with their downstairs and upstairs individually enclosed for a cost of $22-23 million GYD; and lastly, they may choose to have an upstairs only home, which will run at an approximate cost of $20 million GYD.
All homes will be “turnkey” homes, constructed from concrete, finished bathrooms, kitchens and made available to buyers with everything except furniture and appliances, as they can customize those items to their own individual preferences. They will have top of the line zinc roofs, guttering, modern windows and doors, and of course, plumbing and electricity. An approximate $612 million GYD is to be allocated to contingencies including, but not limited to the construction of roads and the requisite amenities.
Prospective residents/ homeowners will surely feel at ease as the community is set to be fully gated. The commercial lots, however, are not for sale and will be constructed with the aim of providing residents with all they depend upon. Lenora Estates will see the establishment of its very own supermarket, gym, gas station and fast-food franchise(s). Ahmad promises that residents can rest assure that these commercial lots will be strictly modern, single-story buildings, so as to maintain the aesthetic of the neighborhood and limit the hinderance of any views.
There will, however, be no plot of land for sale individually within the estate. All areas will be occupied by amenities, houses or apartments. The permanent construction of two (2) model homes is well underway. In order to establish and maintain the picturesque uniformity of the community, each house in their respective street will be color and exterior design coordinated.
Roads within the housing scheme will be paved with asphalt upon the completion of the very last house of the project. All maintenance (grass cutting, tree-trimming etc.) and security of the residence will be carried out by Sheriff Construction and Security Services respectively, until the realization of the last house as well. Thereupon, the housing community will see the institution of a Lenora Estates Homeowners Association, whereby residents will adopt responsibility of their homes and its maintenance and security.
Already, there has been an influx of inquiries pertaining to the housing scheme even though completion time is scheduled for a maximum of two (2) years from now. High on the agenda of Leonora Estates is customer service and the provision of affordable, comfortable, and stylish, ready to live-in housing for the everyday man.
Interested persons will be able to access finance to purchase homes through all banks in Guyana. The loan application process varies from bank to bank, but it generally has similar requirements. The commercial banks usually want to know the background and the financial position of the individual or business before giving the loan. They may use any number of criteria to determine if a potential borrower is eligible for a loan. Past credit history is considered along with current income and asset/liability statements. They may require 20% of the total purchasing price and offer 8%- 12% interest rate per annum. Conveniently, there will also be in house financing available. Interested persons will be required to make a down payment of at least 50% and will be given 2-3 years repayment time.
The management of Leonora Estates has partnered with Bank of Baroda (Guyana) Inc and interested persons can utilize their services to acquire a loan. They are asked to contact Dianna Persaud (592)-226-4005 EXT 194 or email [email protected]
The basic requirements for obtaining a loan are:
• Photo identification (National Identification card, Valid Passport or Driver’s License)
• Recent proof of address (telephone or electricity bill issued within the last 3-6 months)
• Proof of income or job letter
• Taxpayer Identification Number (TIN) Certificate
• Income/ Salary Assessment
• Agreement of Sale, where applicable
The team of qualified professionals are certain that Lenora Estates will be among the best-selling housing schemes that Guyana has to offer and look forward to all that is in store for its residents. Lenora Estates will surely be a community where residents will not only feel safe but will be eager to come home to.