ucheheart:
Hope another govt will not change the policy in future esp if it is an opposition party.

Sijo01:
His Edo state counterpart, Oshiomole is more concerned about land use charge even when he has not layed a single foundation on housing scheme

Acidosis:
Rubbish policies targeted at < 0.0000001% of Lagosians.

An average man without due connections can NEVER enjoy any scheme from the Lagos State Government.

Hollawaley:
Bastards, sonsofbitc.hes, so if i cant pay for like a month or two, i've forfeited it all. All the money av been paying since abi? Its bcuz of people like you, people like me are made. You'll be assasinated you and all your cohorts, tinubu. Buhari, ajimobi ,tokyo ,buratai e.t.c You are dead men.. Deadmen... Dead men alive.
The vigilante has spoken

Trexnemesis:
What of the "housing scheme" FG started around 1995 (or so) when Gen. Abdulkarim Adisa was minister of Works & Housing? They collected our money and nothing happin. It's on record the FG did Nigerians 419.

falconey:
So pessimistic even good news sounds bad

gabylzy:
APC+AMBODE=LIES

We wuldnt fall for this like we fell for Jona Subsidy scam

ceometromedia:
The Lagos State Government on Monday said it had introduced the Rent-to-Own Policy to support the Lagos Mortgage Scheme for home ownership in the state.

The Commissioner for Housing, Mr Gbolahan Lawal, said at a ministerial news conference in Ikeja that the scheme had already become effective.

Lawal said that the policy was aimed at making housing more accessible and affordable, particularly to medium and low income earners in both informal and formal sectors.


According to him, individuals, under the arrangement, are required to pay five per cent of the value of the housing unit as commitment fee.

He said that the remaining payment would be spread over 10 years at six per cent interest rate.

http://www.metronaija.com/2016/04/ambode-introduces-rent-to-own-house.html

chigoizie7:
Ok. But, how feasible is that? I mean, housing businesses in nigeria are virtually run by private enterprises, The last time I checked, from number of registered voters as @ 2011, lagosians are above 10million or there about. (18yrs is legal for eligible voters, 2011 to now is 5yrs added to 18 which will be 23 and @ 23 most are graduates and are eligible to get their own apartments). Lagos state government does not have up to 1million houses in lagos. So, how are they gonna achieve this? Are they going to force the private sectors to follow their policies? Are they going to start building now? Where is the money? Maybe it will be a public, private partnership project, of which they are gonna need a financier, a bank to bank roll most of the project. Will the banks be able to dole out such funds @ this critical time of financial crunch? Are they gonna be patient for 10yrs? Can they re-coup their funds? Those are the things the govt will have to consider 1st b4 mounting podiums to spill what they can not achieve. Housing scheme is one big capital intensive project and a long term investment. Can the state survive it now? Best bet, create a conducive environment, allow private investors, but make a policy to help reduce the rent. But this 10yrs housing scheme? Hmm. I don't think it is feasible. Let's assume u bought a plot of land for 2million and den build with 5million, that is 7million all together. 5% of 7million is 350k, leaving a balance of 6.65million, spilt that into 10yrs, u will have a minimum of 665k per anum. Excluding the interest rates and profits after investment. Which low income earner can afford 665k per annum? Best bet a FG worker with level 8 earns 100k per month, and then he will churn out 665k from his/her 1.2mill per annum take home for just rents alone? Mbanu!!!! Let's forget about people who ear 50k and so on

fflamingo:
which opposition? ambode will finish his 2nd tenure by 2023 then, PDP would be dead

erico2k2:

You should at least see the house b4 you pay.if you pay without seeing any house OYO for you.

themall:
SOLUTION: Start with low cost mass housing scheme in IKORODU, EPE, AND BADAGRY. 1&2 bedroom project. It's cheap its workable. Abi @chigoizie7, @OP wetin una think?

samofson:


how will the people that buy these properties pay for it? the risk is too much for the financier. he would rather recoup his money as quickly as possible instead of waiting for 10 years.

gabylzy:
APC+AMBODE=LIES

We wuldnt fall for this like we fell for Jona Subsidy scam

themall:
SOLUTION: Start with low cost mass housing scheme in IKORODU, EPE, AND BADAGRY. 1&2 bedroom project. It's cheap its workable. Abi @chigoizie7, @OP wetin una think?

Hollawaley:
Bastards, sonsofbitc.hes, so if i cant pay for like a month or two, i've forfeited it all. All the money av been paying since abi? Its bcuz of people like you, people like me are made. You'll be assasinated you and all your cohorts, tinubu. Buhari, ajimobi ,tokyo ,buratai e.t.c You are dead men.. Deadmen... Dead men alive.
The vigilante has spoken

ceometromedia:
The Lagos State Government on Monday said it had introduced the Rent-to-Own Policy to support the Lagos Mortgage Scheme for home ownership in the state.

The Commissioner for Housing, Mr Gbolahan Lawal, said at a ministerial news conference in Ikeja that the scheme had already become effective.

Lawal said that the policy was aimed at making housing more accessible and affordable, particularly to medium and low income earners in both informal and formal sectors.


According to him, individuals, under the arrangement, are required to pay five per cent of the value of the housing unit as commitment fee.

He said that the remaining payment would be spread over 10 years at six per cent interest rate.

http://www.metronaija.com/2016/04/ambode-introduces-rent-to-own-house.html

chigoizie7:



Lolz, 1 room or 2 rooms might be feasible.

But u must have one thing in mind, naija is not as stable and organised as US or UK or Canada or even SA.

Let look @ it this way, 80% of nigerians will want to get married and as such, look up to bigger families like, 4 or 5(dad,mum and 3kids or 2 or more)

Now, how will u expect me to go through he'll to pay for 1 or 2rooms for a whole 10 yrs only to start looking for a lager apartment to accommodate my family again?

I mea, we all know that a family of 5 can not live comfortably in a room or 2 rooms.

The bone of contention here is to make houses affordable and comfortable to its users.


Getting to pay for 1 or 2rooms for a stretch of 10yrs is not a bad idea, but after 10yrs, will I still need the 1 or 2rooms?

chigoizie7:



Lolz, 1 room or 2 rooms might be feasible.

But u must have one thing in mind, naija is not as stable and organised as US or UK or Canada or even SA.

Let look @ it this way, 80% of nigerians will want to get married and as such, look up to bigger families like, 4 or 5(dad,mum and 3kids or 2 or more)

Now, how will u expect me to go through he'll to pay for 1 or 2rooms for a whole 10 yrs only to start looking for a lager apartment to accommodate my family again?

I mea, we all know that a family of 5 can not live comfortably in a room or 2 rooms.

The bone of contention here is to make houses affordable and comfortable to its users.


Getting to pay for 1 or 2rooms for a stretch of 10yrs is not a bad idea, but after 10yrs, will I still need the 1 or 2rooms?

chigoizie7:
Ok


[s]But, how feasible is that?

I mean, housing businesses in nigeria are virtually run by private enterprises,

The last time I checked, from number of registered voters as @ 2011, lagosians are above 10million or there about. (18yrs is legal for eligible voters, 2011 to now is 5yrs added to 18 which will be 23 and @ 23 most are graduates and are eligible to get their own apartments).

Lagos state government does not have up to 1million houses in lagos.

So, how are they gonna achieve this?

Are they going to force the private sectors to follow their policies?

Are they going to start building now? Where is the money?

Maybe it will be a public, private partnership project, of which they are gonna need a financier, a bank to bank roll most of the project. Will the banks be able to dole out such funds @ this critical time of financial crunch?

Are they gonna be patient for 10yrs? Can they re-coup their funds?

Those are the things the govt will have to consider 1st b4 mounting podiums to spill what they can not achieve.


Housing scheme is one big capital intensive project and a long term investment.


Can the state survive it now?


Best bet, create a conducive environment, allow private investors, but make a policy to help reduce the rent.


But this 10yrs housing scheme? Hmm. I don't think it is feasible.

Let's assume u bought a plot of land for 2million and den build with 5million, that is 7million all together.

5% of 7million is 350k, leaving a balance of 6.65million, spilt that into 10yrs, u will have a minimum of 665k per anum. Excluding the interest rates and profits after investment. Which low income earner can afford 665k per annum? Best bet a FG worker with level 8 earns 100k per month, and then he will churn out 665k from his/her 1.2mill per annum take home for just rents alone? Mbanu!!!!

Let's forget about people who ear 50k and so on[/s]

samofson:


[s]how will the people that buy these properties pay for it? the risk is too much for the financier. he would rather recoup his money as quickly as possible instead of waiting for 10 years.[/s]