Promises to work on affordable mortgage rates for the people.
In pursuit of the vision of a Greater Lagos where decent homes are available to all, the State Government has delivered a total of 1576homes to the residents of the State within the first year in office of the Administration led by Mr. Babajide Sanwo-Olu.
This was revealed by the Honourable Commissioner for Housing, Hon. Moruf Akinderu-Fatai during the ministerial briefing on the activities of the State Government in the Housing sector. At the event which was held on Tuesday , Akinderu-Fatai disclosed that Lagos State Government has completed six Housing Schemes located at Igando in Alimosho Local Government Area, Igbogbo in Igbogbo Baiyeku Local Council Development Authority, Igbokushu, Lekki Phase 1, Idale in Badagry, Iponri in Surulere Local Government and Lekki Phase 2 also in Eti Osa Local Government Area.
The provision of Housing in major parts of the State according to him are in line with the T. H. E. M . E. S. Agenda under the pillar of Building a 21st Century Economy.
He said, “provision of decent housing for Lagosians is an integral part of the transformation agenda of the present administration. Housing being a critical need of humans forms the bedrock of other developmental efforts hence the great attention given to it by the present administration “.
According to Akinderu-Fatai, the strategies deployed in meeting this agenda are building through Direct Budgetary allocation for the completion of existing housing schemes as well as through Public Private Partnerships. He said 492 of the homes located at Lateef Kayode Jakande Gardens Housing in Igando and 360 at LagosHoms Igbogbo 2b were actualized through Direct Budgetary allocations while the rest were made possible through Joint Ventures with Private investors”.
Akinderu-Fatai informed the public that 120 homes at Courtland Luxury Villa in Igbokushu, 124 homes at Lekki Apartments, 252 at Lagos State Affordable Public Housing Scheme in Idale Badagry, Iponri Housing Scheme with 132 units and Lekki Phase 2 Scheme in Eti Osa local Government Area having 96 units were achieved through Partnerships with Lagos State Property Development Corporation, Le Grand Property Development Company, Step Development, Echostone Housing and..Messrs Lekki Ultimate Constructions respectively. While appreciating the efforts of the Partners, Akinderu-Fatai called for more serious minded investors to join hands with Government for speedy resolution of the housing deficit challenge in the State .
He also disclosed that more schemes will be completed before the first quarter of 2021 to yield an additional 2284 home units. These projects according to him include LAGOSHOMS Sangotedo clusters with 1218 homes in Eti – Osa LGA, 660 homes at Lagoshoms Odo Onosa /Ayandelu in Agbowa Local Council Development Area, Egan Igando Scheme with 270 homes, and Lagoshoms LASU in Lagos State University main Campus with 36units.
Other Government owned Housing schemes that are still being developed include Epe Housing Scheme in Itamarun Epe local Government with 112 homes.
He also affirmed that the State Government is working assiduously to increase manpower development through skills upgrade of 1000 artisans in the Building sector for an improved capacity as well as enhanced income generation.
In the area of accessibility of the homes, Akinderu-Fatai pointed that according to the State Government Housing policy, the homes are targeted at first time home owners who are residents of the State, and who could come on a convenient mortgage system or make outright purchase of the homes.
“The State Government has strengthened its convenient mortgage system under the Rent.-to -Own Scheme under the Lagos State Mortgage Board to bring as many people as possible on the Home Ownership ladder.” Within the period under review, a total of 1332 Lagosians benefited from the Rent to Own Scheme. With an initial payment of 5% of the homes and monthly payments spread over 10 years, more Lagosians can become homeowners without experiencing serious financial hardship.
In looking forward to the next years of the Administration, Akinderu-Fatai pledged that the State Government will aggressively pursue the delivery of more homes by working with Private sector investors, organizing Housing Challenge Competition to drive innovations in the building sector and ensure that the poor, the distressed and vulnerable have more access to social housing.
Also speaking at the event, the Special Adviser to Governor on Housing, Mrs. Toke Benson-Awoyinka lauded the administration of Mr. Babajide Sanwo-Olu for activating the law that established Lagos State Real Estate Regulatory Authority (LASRERA). She said “with the promulgation, the Authority is now empowered by Law to register Real Estate Practitioners/Property Developers across the State and issue licenses annually to genuine practitioners” Benson-Awoyinka also said that the new Agency engaged in investigation of complaints and petitions against licensed and unlicensed Real Estate Practitioners /Property Developers and imposed sanctions in accordance with the Law where necessary during the period under review. Various Stakeholders Fora were also organized to enhance transparency in Real Estate investment transactions. These strategies, according to her, helped in elimination of unethical Real Estate Business transactions in the Sector and protected innocent citizens in the State from unscrupulous individuals. In furtherance of its objectives, The Agency also launched a Portal www.lasrera.lagosstate.gov.ng for the registration of the Practitioners in Property Market and Real Estate Business. The Online platform was unveiled by Governor Babajide Sanwo-Olu, on 30th, October, 2019 at a grand event held at Eko Hotel and Suites, Victoria Island, she said.
“The seamless and robust Platform has been put in place to gather data of genuine Stakeholders in the industry for the purposes of planning and promoting Ease of Business. “More importantly, it was also a way of addressing the issue of sharp practices in the sub sector in which many innocent citizens in search of accommodation, purchase and sale properties have been criminally defrauded by fake/dubious Practitioners, “Benson-Awoyinka revealed.
In order to further enlighten members of the public about the activities of the Authority, there were series of interactive sessions with the Body of Permanent Secretaries of the MDAs and 57 Chairmen of the Local Governments and Local Council Development Areas, Officials of inter related Ministries, Departments and Agencies in pursuit of the achievement of the goal of the Authority.
She also said that the State is working on the Mortgage and Property Law Cap M5 Laws of Lagos State, 2015 which was established to generate a conducive environment for accessible and affordable mortgage/ charge for the benefit of the citizens of the State so as to protect the residents of the State from sharp practices in relation to mortgage.