EletiofeSanwo-Olu delivers 1,576 new houses, promises affordable mortgage

Sanwo-Olu delivers 1,576 new houses, promises affordable mortgage


- Advertisment -

He said the government had completed housing schemes in six locations.

Akinderu-Fatai listed the sites to include Igando in Alimosho, Idale in Badagry, Iponri in Surulere, Igbokushu in Lekki Phase 1 and Lekki Phase 2 in Eti-Osa Local Government Areas, and Igbogbo in Igbogbo Bayeku Local Council Development Area.

Provision of decent housing for Lagosians is an integral part of the transformation agenda of the present administration. Housing being a critical need of humans forms the bedrock of other developmental efforts, hence the great attention given to it by the present administration.

“The strategies deployed in meeting this agenda are building through Direct Budgetary allocation for the completion of existing housing schemes as well as through Public Private Partnerships.

“492 of the homes located at Lateef Kayode Jakande Gardens Housing in Igando and 360 at LagosHoms Igbogbo 2b were actualised through Direct Budgetary allocations while the rest were made possible through joint ventures with private investors,” he said.

Akinderu-Fatai listed 724 homes in various estates, which were achieved through partnerships with Lagos State Property Development Corporation, Le Grand Property Development Company, Step Development, Echostone Housing and Messrs Lekki Ultimate Constructions.

He commended the partners and called for collaboration with more investors to speedily bridge the huge housing deficit in the state.

The commissioner explained that more housing schemes would be completed before the first quarter of 2021 to produce additional 2,284 home units.

He listed the additional projects to include Lagos Homs estates in Sangotedo with 1218 homes, 660 homes at Odo Onosa/Ayandelu in Agbowa LCDA and 36 units in Lagos State University main campus.

Others are: Egan Igando Scheme with 270 homes and Epe Housing Scheme in Itamarun Epe local Government with 112 homes.

The commissioner said the government was upgrading skills of 1,000 artisans in the building sector to improve their efficiency and income generation capacity.

Akinderu-Fatai emphasised that the state government’s housing policy focused more on first time home owners who were residents and could be captured under suitable mortgage systems or had capacity to make outright purchases.

The State Government has strengthened its convenient mortgage system under the Rent-to-Own Scheme under the Lagos State Mortgage Board to bring as many people as possible on the Home Ownership ladder.

“Within the period under review, a total of 1,332 Lagosians benefited from the Rent-to-Own Scheme. With an initial payment of five per cent of the homes and monthly payments spread over 10 years, more Lagosians can become homeowners without experiencing serious financial hardship,” he said.

He added that the state would pursue various programmes to make social housing accessible to the less privileged and vulnerable in the state.

Special Adviser to Gov. Sanwo-Olu on Housing, Mrs Toke Benson-Awoyinka, commended the administration for establishing the Lagos State Real Estate Regulatory Authority (LASRERA) to regulate real estate businesses and practitioners.

“With the promulgation, the Authority is now empowered by Law to register Real Estate Practitioners/Property Developers across the state and issue licenses annually to genuine practitioners,” she said.

Benson-Awoyinka also said LASRERA investigated complaints and petitions against licensed and unlicensed Real Estate Practitioners /Property Developers and imposed sanctions in accordance with the law where necessary during the period under review.

She said various stakeholder engagements were held and an online portal www.lasrera.lagosstate.gov.ng was launched for the registration of practitioners in the property market and real estate business.

The seamless and robust platform has been put in place to gather data of genuine stakeholders in the industry for the purpose of planning and promoting ease of business.

“More importantly, it was also a way of addressing the issue of sharp practices in the sub sector in which many innocent citizens in search of accommodation, purchase and sale of properties have been criminally defrauded by fake/dubious practitioners,” she said.

Benson-Awoyinka said series of interactive sessions were carried out with various government agencies and leadership of local governments for proper regulation and actualisation of the vision of the agency.

She added that the state was working on the Mortgage and Property Law Cap M5 Laws of Lagos State, 2015, established to ensure accessible and affordable mortgage/charges.

Latest news


'Good Time,' 'Personal,' 'Number One,' 'Koni Koni' and 'Goodness and Mercy' are such amazing record with high calibre replay...

‘Zero-Click’ Zoom Vulnerabilities Could Have Exposed Calls

Most hacks require the victim to click on the wrong link or open the wrong attachment. But as so-called...

Brother Who Defiled His Sister For Years In Family Home Is Jailed

A Central Criminal Court has sentenced a man to seven years imprisonment after he repeatedly had unlawful carnal...

Man Drugged And Blindfolded His N*ked Wife So His Colleague Could R*pe Her

The Singapore Supreme Court has heard the harrowing story of a man who drugged and blindfolded his wife of...
- Advertisement -

I Started Smoking Because I Was Depressed – Toyin Abraham Opens Op On Life Challenges

Nigerian actress and filmmaker, Toyin Abraham has opened up on her struggles in the past which turned her into...

I’ve Been Receiving Threat Messages For Not Supporting Tinubu’s Ambition – Buhari’s Aide, Ojudu

Ojudu The Special Adviser to the President on Political Matters, Babafemi Ojudu has cried...

Must read


'Good Time,' 'Personal,' 'Number One,' 'Koni Koni' and 'Goodness...

‘Zero-Click’ Zoom Vulnerabilities Could Have Exposed Calls

Most hacks require the victim to click on the...
- Advertisement -

You might also likeRELATED
Recommended to you