Lagos State Government has moved to reduce the barrier to home ownership in the state as it announces the upscaling of its housing delivery performance and subsidising the cost of the homes.
The government initiative is in response to the growing gap in housing demand in relation to the available accommodation in the state.
According to a statement signed by the Spokesperson of the Ministry of Housing, Mrs Adeola Salako, this was made known by the Lagos State Commissioner for Housing, Mr Moruf Akinderu-Fatai, on Friday, July 15, 2021.
Akinderu-Fatai said the government was committed to the provision of affordable mass housing units in spite of the increasing cost of building materials occasioned by the current inflationary trend, according to NAN.
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What the Lagos State Commissioner for Housing is saying
Akinderu-Fatai revealed that Governor Babajide Sanwo-Olu had directed that cost of homes built by the state should be lower than the market price to make home ownership easier for the people, adding that the government is seriously working at having more homes available for residents before the end of the year.
He said, ‘’We are engaging multinationals along with other Ministries, Departments and Agencies to build and support the financing of buildings in the state. This is the viable option, given the fact that land is a limited resource in the state.’’
He explained that the state’s housing schemes, which were financed through direct budgetary allocation and located in Odo-Onosa Ayandelu, Agbowa, Sangotedo Phase 1, Gbagada and Omole Phase 1, will be delivered soon.
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Other schemes that were being constructed through direct budgetary allocation include Egan-Igando, LASU, Ita-Marun in Epe and Ajara.
The commissioner said the projects are for the benefit of low and middle-income earners to eventually become home owners.
He said this would be accomplished through a convenient mortgage system where homes shall be allocated through the Rent-to-Home Scheme and whereby the tenure of payment would be 120 months.
Akinderu-Fatai said that an initial payment of 5% of the value of the homes by the allottees was required before spreading the balance.
In case you missed it
The Lagos State Government had about a week ago given assurances to financial institutions, including banks, that there will be returns on their investments in mortgages as a result of the proposed amendment of the Lagos State Mortgage and Property Law.
The proposed Mortgage and Property Law is to help create an accessible and affordable mortgage for the benefit of Lagosians to purchase their own homes.
The Lagos State Government had moved to safeguard investments in the real estate sector and ensure its development as they began the process of incorporating the foreclosure clause into the Lagos State Mortgage and Property Law.
This is seen as part of the measures and regulations that will help attract both local and foreign investors into the sector.
The coat of Lagos State Rwnt To Own is OUTRAGEOUS. Their charges are unreasonably higher and that’s why it is mostly the politicians that are getting it for their folks and mistresses.
I commend Lagos state initiative, Pleàse how can I apply for it.
How do I apply for the house if I want to buy?
H
This is a laudable effort from the government. Please, what are the steps to accessing this offer. I am interested in it.
I need a home please but I don’t know how to go about it.thanks
How do I apply for this offer?
Pls how can I apply for this?
Laudable project. How do I go about applying for a house.
Am interested in acquiring a house: pls how do I apply?
How do I apply?
Please what about people in Ibeju Lekki especially the civil servants….. We need shelter to ease the standard of living in average way.
Thanks
How can I apply -pls?
Good initiative and laudable on the part of LASG. My worries is about the land sold under BRF which C of O was issued but beneficiaries cannot take possession or do anything on the land. Example is Igbogbo scheme 1&2 in ikorodu.
Could you please find out the position for Lagosians.
Thank you
How do I apply for some of the house
How can I apply
Am interested and how do I go about it .
How do I apply for the house if I want to buy?
How do I can apply for the house please tell me about it now. Thank you sir
I commend lagos state initiative, and I pray that lower cadres will definitely get the opportunity to own the house.
Please how do I apply and how much does it cost.
A good development. Quite commendable.
A good development. Quite commendable. More impact in Jesus name
This is an interesting and infact laudable mission of the state government. I just hope and pray it actually gets to the people who are the original reasons for its establishment.
I personally am interested and will like to know how to go by the process please.
Interested, how can I apply for a home?
Please what are the steps to be taken inorder to be a beneficial to this scheme
Pls sir, how can I apply for the purchase of the house. This is a laudable efforts by the Lagos State Government. As a Civil Servant, it would make it possible to pay Tax into Lagos State rather than More where i rented an apartment. Thank you
Good initiative, how can i apply for one at Gbangada home. Tanks
I am a Teacher with Lagos State government.
I want to Apply.How do I go about it?
Nice one how can someone apply and what are the requirements
How do I apply,
This is great news. Bravo to Lagos government.
I hope this laudable ideas is not for civil servant alone because that is always the case.
Please how do i sign up, because I am interested.
Once again thank you people’s government.
This is truly commendable. Thank a bunch for having the poor masses in mind. May God remember you and your entire team for good sir. Thank you for a job well done.
My desire is to be one of the lucky ones to benefit from this project by God’s grace. Amen.
I wish to be a beneficiary , how do I go about it so as not to miss this juicy offer please? Thanks.
This is quiet commendable. I would be pleased to have relevant information to access the offer.
Please, the steps and the amount per-each houses should be published.
I’m interested, how can I apply.
Good job uuu are doing.
Hw can i apply for dis scheme.
Thank you to our listening MG,you have always stood up for the less privileged,I applied for a 2bed at the Sangotedo apartments,I am yet to receive any information, I was at the LBIC where the Min. Of Housing referred me too.I am glad to hear of this development Sir.
God bless you immensely.
Catherine.
This is a nice development. How can I apply please?