The Lagos State Government has delivered a total of 1,348 homes to Lagosians within the first year in office of the Governor Babajide Sanwo-Olu’s administration in Lagos State.
According to the State Commissioner for Housing, Mr. Moruf Akinderu-Fatai, the state government has completed five housing schemes located at Igando in Alimosho Local Government Area; Igbogbo in Igbogbo Baiyeku Local Council Development Authority; Igbokushu, Lekki Phase 1 and Idale in Badagry.
Akinderu-Fatai explained that the provision of decent accommodation for Lagosians is an integral part of the transformation agenda of the present administration on housing, adding that the strategies deployed in meeting this agenda involved building affordable houses through direct budgetary allocation for the completion of existing schemes and through Public-Private Partnerships (PPP).
He said: “The 492 homes located at Lateef Kayode Jakande Gardens in Igando and the 320 at LagosHoms, Igbogbo 2b were actualised through direct budgetary allocations while the rest were made possible through joint ventures with private investors.
“The construction of 120 homes at Courtland Luxury Villa in Igbokushu; 124 homes at Lekki Apartments and 252 at Lagos State Affordable Public Housing Scheme in Idale Badagry were achieved through partnerships the Lagos State Development and Property Corporation had with the Le Grand Property Development Company, the Step Development and the Echostone Housing respectively.”
The commissioner called for more serious-minded investors to join hands with the state government for the speedy resolution of the housing deficit in Lagos State.
He also disclosed that more schemes would be completed before the end of the year to yield an additional 1,662 home units by the end of 2020. These projects, according to him, include the LagosHoms, Sangotedo cluster with 774 homes in Eti-Osa LGA; 660 homes at LagosHoms Odo-Onosa /Ayandelu in Agbowa LCDA; Iponri Estate Housing Scheme in Surulere LGA with 132 units and Lekki Phase 2 Scheme in Eti-Osa LGA with 96 units.
Akinderu-Fatai averred that the government-owned housing schemes being developed across the state include the Epe Housing Scheme in Itamarun Epe LGA with 112 homes and LASU Housing Scheme with 36 units within the Lagos State University main Campus in Ojo.
The commissioner said the state government is working assiduously to improve manpower development in the building sector through skills upgrade of 1000 artisans improved capacity and enhanced income generation.
Akinderu-Fatai pointed out that the homes are targeted at first time homeowners who are resident in Lagos State with convenient mortgage system or outright purchase.
In his words: “The state government has strengthened its convenient mortgage system under the Rent-To-Own Scheme of the Lagos State Mortgage Board to bring as many people as possible on the home ownership ladder with an initial payment of five per cent of the price and monthly payments spread over 10 years, Lagosians can become homeowners without experiencing serious financial hardship.”
Akinderu-Fatai posited that the state government would pursue the delivery of more homes by working with private sector investors and organising Housing Challenge Competitions to drive innovation in the building sector and ensure that the poor, the distressed and vulnerable have access to social housing.
Also speaking at the event, the Special Adviser to Governor on Housing, Mrs. Toke Benson-Awoyinka, lauded the Sanwo-Olu’s administration for activating the law that established Lagos State Real Estate Regulatory Authority (LASRERA), saying that “with the promulgation, the agency is now empowered by law to register real estate practitioners and property developers across the state and issue licenses annually to genuine practitioners.
Benson-Awoyinka said the new agency is also saddled with the responsibility of investigating complaints and petitions against licensed and unlicensed real estate practitioners and property developers and imposing sanctions in accordance with the law where necessary.
She revealed that various stakeholders’ fora were organised by the government to enhance transparency in the real estate investment transactions, stressing that the initiative would help eliminate unethical conduct in the real estate business transactions in the sector and protect innocent citizens in the state from unscrupulous individuals.
The special adviser disclosed that the agency has launched a Portal: www.lasrera.lagosstate.gov.ng for the registration of practitioners in the property market and real estate business, noting that the online platform was unveiled by Sanwo-Olu, on October 3, 2019, at a grand event held at Eko Hotels and Suites.
The special adviser hinted that the state government is working on the Mortgage and Property Law Cap M5 Laws of Lagos State, 2015, which was established to foster conducive environment for accessible and affordable mortgage/charge for the benefit of the citizens of the state.