The State’s Commissioner for Housing, Prince Gbolahan Lawal, has unveiled the Rent-To-Own and Rental Housing Policies of Governor Akinwunmi Ambode’s administration. The Rent-to-own policy targets the low and medium income earners in both the formal and informal sectors. Under this arrangement, individuals are required to pay 5 per cent of the value of the housing unit as commitment fee and the balance is spread over 10 years. The programme allows the tenant to live on the property while paying towards ownership as a fixed rent within the period of ten years. “

There are eligibility criteria to be met though. Applicants must be primarily resident in Lagos State and will be required to submit a copy of their Lagos State Residents Registration Card., must be a First Time Buyer, over 21 years of age, tax compliant and 33% of his/her earnings must cover the monthly rental payments.

12 Housing Estates have been dedicated for this `Scheme and they cover all parts of the Lagos Metropolis, from Lekki, Surulere, Ikorodu, Alimishosho etc (see list of estates and payment plans below). There are also different units to suit every pocket. There is the room and parlour apartment at Sir Michael Otedola Estate, Epe as well as several 1 bedroom, 2 bedroom and 3 bedroom units.

Procedure is for an applicant is to obtain Forms from Lagos State Mortgage Board (see contacts box for address) or Ministry of Housing Block 3 Alausa Secretariat or download the forms at www.lagoshoms.gov.ng. Payment of N10,000 should be paid to First Bank of Nigeria Plc Account number 2023834576. The completed form as well as the payment receipt and all supporting documents should be submitted in person at the Lagos State Mortgage Board office or online.
Contacts
LMB
LBIC Building (Ground Floor)
Plot 1. ASSBIFI Road, Central Business District,
Alausa, Ikeja, Lagos.
Phone: 07044519311
08124817363
E-mail: info@lagoshoms.gov.ng
www.lagoshoms.gov.ng

AVAILABLE PROPERTIES UNDER THE SCHEME
continue here : http://www.eyesoflagos.com/2017/01/ambode-turns-tenants-into-landlords.html

The same way ex gov B.R fashola exploited lagiosians by making them to pay tripple for a home that was not worth double.

Love Machine:
The same way ex gov B.R fashola exploited lagiosians by making them to pay tripple for a home that was not worth double.

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