…Set To Roll Out More LagosHOMS
In a bid to cushion the effects of economic recession in the
country, the Lagos State Government has perfected plans to introduce monthly
payment plan on its Home Ownership Mortgage Schemes popularly called Lagos HOMS
across the State.
The State Governor, Mr. Akinwunmi Ambode, who stated this
after embarking on an extensive inspection tour of projects across the State,
said his administration has decided to scale up the rent-to-own policy by
introducing monthly payment plan whereby people can pay monthly instead of being
compelled to make a down payment of 30 percent of the total cost or pay for one
year.
He said: "We believe strongly that people should be able to
pay one month rent and live in our housing schemes. We don’t think in a
recession, we should be having a situation where we allow people to come and
buy when they don’t have money or to come and pay one year rent. We think the
way to move forward is to allow these our younger ones to just pay one month
deposit and pay one month rent and move into the houses and then more or less
play up our rent-to-own scheme," Governor Ambode said.
While speaking on the pocket-friendly initiatives of his
administration on housing, Governor Ambode said the State Government has taken
time to review its mortgage schemes vis-Ã -vis its financial flow, adding that
many ongoing housing schemes have reached advanced stages of completion, and
that they would be rolled out in a matter of months.
The Governor, who inspected the Illubirin Housing Scheme in
Lagos Island, said government, in partnership with private sector, is making
arrangement to transform the scheme into a live, work and play environment.
“In addition to that, the other housing projects that we are
doing are on course and I want to assure Lagosians that in the next few months,
we will be seeing a whole lot of housing units being rolled out,” the Governor
said.
On his part, the State’s Commissioner for Housing, Mr.
Gbolahan Lawal, debunked insinuation that the Illubirin Housing Scheme had been
abandoned, saying that government was rather working to improve on the project
which is sitting on 28 hectares.
He recalled how the project started under the administration
of former Lagos State Governor, Asiwaju Bola Ahmed Tinubu with sand filling,
while his predecessor, Mr. Babatunde Fashola carried on with the project.
He said: "Now, under the administration of Governor Ambode,
we want to scale it up and the idea is to make this place a live, play and work
environment and so we are projecting 500 units instead of the 1,260 that the
scheme was formerly designed for. We believe government funds should be
deployed to some other sites that we are working on and to also come up with
new designs and new buildings and so instead of government to recapitalize this
project, we are working with the private sector and the investor that has come
up is investing about $500 million."
According to Lawal, about five hectares of the Illubirin
scheme would be dedicated for leisure, while there would also be commercial
activities, as well as flyover which would be constructed.
He said the State Government is already working with the
Federal Ministry of Works and the Ministry of Waterfront in that regard, adding
that the flyover would be on another phase.
He also said that all the phases of the scheme are expected
to span between five to seven years, but that there would be a lot of
improvement on the project before May 2019.
Governor Ambode also inspected the ongoing construction of a
lay-by and slip road into Isheri Olowora at Berger bus-stop.
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