Praneeta Prakash 
The Housing Authority is owed around $3.3 million in outstanding ground rental arrears however, Chief Executive, Ritesh Singh assures the public that these debts are recoverable.
Singh says the authority is working actively with its customers to find viable solutions.
“This money will be recovered at any point in time because whenever there is a deal done on the particular lease they have to come to us for a consent and for them to get a consent they will have to clear all the arrears.”
Despite the significant amount owed to the Authority, Singh clarifies that severe penalties are not applied on the outstanding amount.
“We don’t really have a penalty or any penalty charged on it but interest is definitely charged on it. Our land rental if you look at the residential which us very low. It can range between $5 and $150 depending on the size of the block.”
Singh says they are secured in terms of lending to their customers.
