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2,500 get homes in Lagos housing scheme

2,500 get homes in Lagos housing scheme

2 October, 2020

 Tajudeen Adebanjo


THE General Manager of the Lagos State Mortgage Board, Mr. Bayowa Foresythe, has said about 2,500 family members have benefitted from Alhaji Lateef Kayode Jakande Gardens at Igando in the last seven months.

Speaking with The Nation, he said 492 units of flats have been handed over to subscribers in the last seven months.

“Multiplying the number of flats (492) by five, which is the average size of a family, this will give you 2,460. What this simply means is that we have provided shelter for 2,460 family members in the state within a short period,” he said.

Foresythe, who assumed office in January, said Governor Babajide Sanwo-Olu is passionate about providing affordable housing for Lagos residents.

The governor, he said, promised to increase the number of homeowners through LagosHoms and is doing everything possible to achieve it.

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Foresythe  said: “Our goal is to bridge the housing deficit in the state by providing affordable homes for the residents through the Rent-To-Own programme in which subscribers are to pay only five per cent equity contribution and payments are spread over 120 months (10 years). This, we believe, will sustain mortgage culture and increase home ownership drive in the state.

“We have taken the scheme to the five administrative divisions of the state, namely Ikeja, Badagry, Ikorodu, Lagos and Epe under the acronym IBILE. This is to ensure that no part of the state is left behind. With Lagos HOMS, we are providing an innovative and sustainable opportunity to enhance homeownership for Lagos residents.”

The mortgage chief said the Igbogbo IIB scheme was awaiting the governor’s inauguration.

“We have 360 flats of one, two and three bedrooms to be allocated to pre-qualified residents. Likewise, we will be delivering another set of 744 one, two and three bedrooms flats at Sangotedo in Eti-Osa Local Government, which will be ready by next year. Our mandate to reduce housing deficit is Herculean, but we are up to the task to deliver,” he said.

Foresythe urged Lagosians to key into the programme.

“To gain access to Lagoshoms properties, you are only required to pay five per cent equity contribution of the total value of the unit and other payments are spread over a 10-year period on monthly instalments.

The government has made it flexible so that many Lagos residents can afford to own a home,” he said.


The post 2,500 get homes in Lagos housing scheme appeared first on Smart9jaMedia.

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