Lagos to launch rent-to-own housing scheme December 8. The new initiative was launched with 4,355 housing units it inherited from the mortgage scheme and has currently allocated about 650 original units to its special target of first time home buyers. © 2017-2037 - Olatorera.com All Right Reserved. Prior interventions placed challenging demands on the recipients like the payment of 30% equity contribution which many interested homeowners could not afford. Lawal said in an interview with the NAN that the state’s housing policies captured both those in the formal and informal sectors. 492 Families Benefits from Sanwo-Olu's Maiden Housing Scheme ...It’s Another Promise Fulfilled, Says Lagos Gov. According to commissioner for housing, Prince Gbolahan Lawal, the scheme targets low and medium income from both formal and informal sectors of the economy and aims to turn them rent payers to owners of their homes. These houses came from 12 housing estates including Sir Michael Otedola Estate, Odoragunsen, Epe, Odo Onasa, Agbowa, Igbogbo Housing Estate, Ikorodu, Egan -Igando Housing estate, Alimosho, Lateef Jakande Gardens, Igando also in Alimosho. The allottees took possession of their units located in Epe, Ikorodu, Agbowa and Ojokoro at an event held at the state secretariat in Alausa, Lagos. Gbolahan Lawal, the state commissioner for housing, who confirmed the availability of 3000 units of houses not sold, however said those already subscribed would be made ready for their owners three to six months from now. No fewer than 3,000 residents have so far benefited from the Lagos State Government’s Rent-To-Own schemes, according to the Commissioner for Housing, Mr Gbolahan Lawal. © 2021 - Businessday NG. 3,000 residents benefit from Lagos’ Rent-to-Own houses. The seeming lack of interest in the state-owned housing schemes is despite the fact that Lagos, Nigeria’s largest state by population (estimated 21 million people) is has a huge housing gap. However, the Rent-to-Own housing scheme requires individual subscribers to pay only 5% of the cost of the housing unit as a commitment fee and the balance is spread over a period of 10 years with minimal interest. Apart from providing the pool of Houses, Government also provides the funds for the mortgage facility being granted. These were birthed by a Joint Venture project between Lagos State Development and Property Corporation (LSDPC) and Messrs Le Grande Property Development Company. What is left in this particular estate is the sewage system and I believe strongly that as we leave, this particular project in the next few months, the whole place should be completed and should be ready for occupants and commissioning by the incoming governor,” said Ambode. You will receive a link to create a new password via email. No fewer than 3,000 residents have so far benefited from the Lagos State Government’s Rent-To-Own schemes, according to the Commissioner for Housing, Mr Gbolahan Lawal. It was all outpouring of emotions and joy, on Friday, at the Banquet Hall of the State House in Alausa on Friday when Lagos State Governor, Mr. Babajide Sanwo-Olu, presented keys to beneficiaries of his administration’s maiden rent-to-own housing scheme. The Rent-to-Own Scheme was established not just to provide accommodation but as a major means of economic empowerment for residents of the State, especially young people. The Lagos State Government has extended the reopening of the Third Mainland Bridge to the end of the month to allow the contractor cast the final rehabilitated expansion joint from midnight of Friday, 19th to midnight on Sunday 21 st February 2021.. It circulates in Nigeria and Ghana, Nigeria sees surprise exit from recession in Q4, How Abia rose to attract third highest foreign investment in…, MTN taps Mastercard to upstage Safaricom as Africa’s fintech…. A beneficiary is considered to have defaulted: If the beneficiary fails to make repayments for three consecutive times. LSDPC is a state government owned corporate organization that deals in real estate. Interestingly, it boasts amenities such as a swimming pool, ample car park, community hall, 24-hour security, 5-aside football pitch, as well as water and sewage treatment plant. Furthermore, the Rent-to-own scheme is credited with reducing the housing deficit in the state and promoting mortgage culture. Housing and accommodation in Lagos are notorious for being limited and unaffordable. Years after been put in the market for outright sale or rental, the Lagos Homes Ownership Scheme (LagosHOMS), has remained unattractive to home seekers, as over 3000 units are still unsubscribed. The Lagos State Government on Friday handed over keys of 200 more housing units to successful allottees in the second allotment exercise of its “Rent-To-Own” Housing Scheme. He said that the […] All Rights Reserved. In an effort to cushion the effects of economic recession in the country, the Lagos State Government on Thursday said it has concluded plans to start allocation of houses under the newly introduced rent-to-own policy. Famous Adire Brands And Where You Can Find... Who Is Mohammed Mijindadi? Above Lagos Housing Commissioner, Gbolahan Lawal, second left, on an inspection of Amuwo Odofin housing scheme. If you have some cash and an average earning job then the Lagos HOMS scheme can help you own your house simply by paying instalmentally over a period. LagosHOMS fails to attract buyers as 3,000 units unsubscribed. Lagos State Govt Rent-to-own Scheme / Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great / Ambode Introduces Rent-to-own House Policy In Lagos (1) ( Reply ) ( Go Down ) Rent To Own Scheme Now In Lagos And Abuja by kaybliss1 ( m ): 12:13pm On Aug 10 , 2016 Lagos Commissioner for Housing, Mr Gbolahan Lawal says at least 3,000 residents have so far benefited from the Lagos State Government’s Rent-To-Own schemes. Checks show reveal that a total of 360 units in Igbogbo, 660 units in Agbowa, 84 units in Amuwo-Odofin, 492 units in Igando, 630 units Egan and 1118 units in Sangotedo housing estates are lying waste, even as several hundred units across already subscribed to by home seekers have not been made habitable to enable their buyers move in. We acquire, build, lease and sell properties with a view to providing affordable housing and business accommodation. Information at BusinessDay’s disposal shows that hundreds of housing units in various estates developed by the government and scattered across the state since the previous administration, are still largely vacant. I want to say that those people that applied, in the next three to six months, they would be living in their houses,” Lawal said. The Lagos Home Ownership Mortgage Scheme (Lagos HOMS) is a government initiative created to encourage and support home ownership of First-Time Buyer (FTB) residents of Lagos State to purchase decent and affordable homes through the provision of accessible mortgage finance. JOSHUA BASSEY May 16, 2019. Lagos state, under Governor Akinwunmi Ambode has unveiled a modified and less expensive housing scheme for Lagosians. The Lagos State Commissioner for Housing, Mr Gbolahan Lawal has said no fewer than 3,000 residents have so far benefited from the Lagos State Government’s Ren According to the Lagos State ... he cannot key into the state housing project. No fewer than 3,000 residents have so far benefited from the Lagos State Government’s Rent-To-Own schemes, according to the Commissioner for Housing, Mr Gbolahan Lawal. Years after been put in the market for outright sale or rental, the Lagos Homes Ownership Scheme (LagosHOMS), has remained unattractive to home seekers, as over 3000 units are still unsubscribed. It’s just the sewage and water that is delaying it. LagosHOMS fails to attract buyers as 3,000 units unsubscribed. It has both daily and Sunday titles. The Lagos HOMS is a mortgage scheme that is completely funded by the Lagos State Government. Some of the eligibility criteria for the LagosHOMS are that an applicant must be a first time buyer, 21 years and above, tax compliant with proof of regular payment, five per cent payment, must pass the affordability test and not more than, 33 per cent of the monthly income as repayment. This housing gap requires tremendous effort to bridge and thankfully, the Lagos State government is hard at work. The Rent-to-Own Scheme was established not just to provide accommodation but as a major means of economic empowerment for residents of the State, especially young people. It is the only Nigerian newspaper with a bureau in Accra, Ghana. Facts, Life And Achievements, 5 Amazing Traditional Outfits Around The World, Meet Blessing Okagbare: The Guinness World Record Holder. Other estates for the scheme are CHOIS City, Agbowa, Olaitan Mustapha Housing Estate, Ojokoro, Iponri Estate, Surulere, Sangotedo Estate, Eti-Osa and Ajara Estate, Badagry. “We are at the Lagos HOMS here in Igando where we have 492 units completed. How Lagos State is Revolutionising Housing with the Rent-to-Own Scheme. ... “The Lagos state rental housing policy is to further ensure housing accessibility and affordability in Lagos state. Lawal said in an interview with the News Agency of Nigeria (NAN) that the state’s housing policies captured both those in the formal and informal sectors. The Governor Babajide Sanwo-Olu administration in the state has not only strengthened the scheme but has increased the momentum of project delivery. The Commissioner for Housing, Mr. Gbolahan Lawal A report by Pison Housing Company actually estimates Lagos’ housing deficit at three million, requiring about 200,000 units built every year over the next 20 years to bridge. Ambode, who gave the assurance when he inspected the Igando Lagos HOMS project, after he commissioned the Igando Lagos Theatre, on Wednesday, said the 492-unit scheme was in its final stages of completion and would be commissioned Babajide Sanwo-Olu. Lost your password? Default Events. The Luxury Villas which sits on 28,321 square metres of land comprises 120 units of 4-bedroom maisonettes and a boy’s quarter. Lagos HOMS is administered by the Lagos State Mortgage Board (LMB). 6 Proof of residence in Lagos (Lagos State Residents card) 7 Certificate of Incorporation (first page) if applicable 8 Signed Memorandum of Acceptance 9 Letter from union or Cooperative confirming self employment and guarantee of payment from the union or cooperative Please enter your username or email address. Compulsory documents you need for housing transactions in Lagos . No fewer than 3,000 residents have so far benefited from the Lagos State Government’s Rent-To-Own schemes, according to the Commissioner for Housing, Mr Gbolahan Lawal. With a population of about 20 million, the state is laden with an estimated housing deficit of three million.
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