estates – 9japroperty http://9japroperty.com.ng All you need to know about properties Wed, 04 May 2016 13:59:22 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.15 Lagos to build housing estates in all LGAs http://9japroperty.com.ng/lagos-build-housing-estates-lgas/?utm_source=rss&utm_medium=rss&utm_campaign=lagos-build-housing-estates-lgas http://9japroperty.com.ng/lagos-build-housing-estates-lgas/#respond Wed, 04 May 2016 13:59:22 +0000 http://9japroperty.com.ng/?p=4523 As part of its new housing policy, the Lagos State Government says it plans to partner local government councils in building construction. The Commissioner for Housing, Gbolahan Lawal, said the move would enable the state to provide houses for residents, while the government worked on other social infrastructure. Lawal said during an interactive session with […]

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As part of its new housing policy, the Lagos State Government says it plans to partner local government councils in building construction.

The Commissioner for Housing, Gbolahan Lawal, said the move would enable the state to provide houses for residents, while the government worked on other social infrastructure.

Lawal said during an interactive session with journalists that the government planned to construct 50 housing units in each local government area of the state under the scheme.

He stated, “This is the new policy of this government. We believe that we must collaborate with the local government councils as it is being done in other countries. The state government cannot boast of owning all the land; so, the space for housing development is going to be a major challenge. So, we cannot say we want to have 200 housing units in a place like Lagos Island for instance.

“So, we must find a way around it. With 50 units in each of the LGAs and our one in 16 models that is coming, it means we just need like three blocks to develop and won’t need so much land. Because of the problem of productivity of the workforce, we want people to live near where they work, while we are working on other social infrastructure. With that, we will be able to have growth.”

Lawal said there was the need for the government to have new settlements, new towns and also economic activities across board.

He added, “So, if you want to reduce rural-urban migration, you must be able to stimulate economic activities in such rural areas and their environs. For instance, look at Epe; it is close to Lekki where we have the Free Trade Zone; people can conveniently live in Epe and work in Lekki, which is just about 10 minutes’ drive.

“Self-built models are everywhere now and it is a challenge. Lagos is just 3,750 square kilometres. Now, we know we have to go vertical in construction in order to accommodate more houses and people. In our estates, we encourage four floors and as physical infrastructural facilities improve, we can move up to six floors.

“Our physical planning regime will change. When that time comes, the Ministry of Physical Planning and Urban Development will adjust the policy of government where it says you cannot go above four floors in certain areas.”

The commissioner said that with the growing population as a major concern, the housing growth rate should be improved.

“We have to find a way of making the hinterland liveable, making economic activities expand to those places so that it will help in reducing rural-urban migration,” he said.

Lawal also stated that the government had introduced the rent-to-own initiative to accommodate resident who could not afford its housing schemes.

He explained, “When this administration came on board, we were bombarded with a barrage of complaints from people saying they could not afford the government’s housing schemes. So, we conducted a study and from the report we gathered that there was a need to come up with a more inclusive housing policy like the RTO.

“So, for a consenting home owner, you will deposit five per cent of the cost and the interest rate is six per cent, with 10 years repayment period, after which the house becomes fully yours. The conditions that prequalifies a person is that you must be a Lagos resident, be tax-compliant and must have the ability to pay, that is be in the informal sector or in paid employment. If you have a source of income, then you are have the opportunity of owning a home in Lagos State. It is also part of the financial inclusion programme of the government.”

 PUNCH.

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Palms Villa Estates berths in Lekki, Ikorodu http://9japroperty.com.ng/palms-villa-estates-berths-in-lekki-ikorodu/?utm_source=rss&utm_medium=rss&utm_campaign=palms-villa-estates-berths-in-lekki-ikorodu http://9japroperty.com.ng/palms-villa-estates-berths-in-lekki-ikorodu/#respond Wed, 28 Oct 2015 08:40:32 +0000 http://9japroperty.com.ng/?p=3846 A real estate firm, Chattel Reality and Investment Company says it has introduced a land ownership scheme that will eradicate owning a land in Lagos State as being the exclusive reserve of the rich and the powerful. One of such schemes with which the firm intends to achieve this is the Palms Villa Estate in […]

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A real estate firm, Chattel Reality and Investment Company says it has introduced a land ownership scheme that will eradicate owning a land in Lagos State as being the exclusive reserve of the rich and the powerful. One of such schemes with which the firm intends to achieve this is the Palms Villa Estate in Ibeju Lekki and Ikorodu,  which the firm has started selling.

Aside from its 10 per cent discount offer on all land payment plans, the company is spreading payment options for purchased land up to four years. This, it says, is to give all low income earners an opportunity to be landlords in Lagos. For instance, to own a plot of land at Chattel Reality’s Palms Villa Estate in Ikorodu, an intending buyer can pay as low as N22,000 monthly and N83,000 monthly for land in the Palms Villa Estate in Ibeju Lekki.

Its Managing Director, Mr. Ifeanyi Okafor, explained that such initiative is one of the company’s strategies to get more Nigerians to invest in properties and own their own houses. “We must as a matter of urgency always look for incentives to encourage people to own their homes. Things are pretty difficult at the moment and many people might not be able to afford a huge sum of money to purchase a land not to talk of building a house. So for us, we are more interested in empowering people and helping them to achieve their dreams of becoming a landlord,” he explained.

Chattel Realty and Investment Company limited is an innovative real estate development company that engages in the development of master-planned housing estates. The company’s objective is to provide cutting-edge real estate solutions to the huge Nigerian real estate market, which yearns for affordable housing as well as other real estate investment products.

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Another look at Lagos housing estates and the challenge of infrastructure decay http://9japroperty.com.ng/another-look-at-lagos-housing-estates-and-the-challenge-of-infrastructure-decay/?utm_source=rss&utm_medium=rss&utm_campaign=another-look-at-lagos-housing-estates-and-the-challenge-of-infrastructure-decay http://9japroperty.com.ng/another-look-at-lagos-housing-estates-and-the-challenge-of-infrastructure-decay/#respond Tue, 23 Dec 2014 10:54:52 +0000 http://beta.9japroperty.com.ng/9japroperty/?p=2383 Lagos plays host to lots of housing estates in the country, which are mostly owned by either the government or private developers. The first civilian governor of Lagos State, Lateef Jakande, during his time as the governor of the state, was widely acclaimed to have built many estates in the 70s and 80s with functional […]

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Lagos plays host to lots of housing estates in the country, which are mostly owned by either the government or private developers. The first civilian governor of Lagos State, Lateef Jakande, during his time as the governor of the state, was widely acclaimed to have built many estates in the 70s and 80s with functional facilities and basic infrastructure.

By the time his administration was brought to an abrupt end in 1983, Jakande had left estates in many parts of Lagos which had the potential to meet the housing needs of over 20,000 people.

Not only were the houses constructed by Jakande, examples of what low-cost housing estates are meant for, they were also said to be of good qualities. It is therefore not too surprising that no other governor of Lagos State since then has been able to achieve Jakande

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