Rent-to-Own: Lagos hands over keys to 100 allottees
… says 100 flats to be given out monthly
Some 100 allottees of the rent-to-own housing programme being promoted by Lagos State were on Monday handed keys to their flats in some of the schemes developed by the state government.
Gbolahan Lawal, the state commissioner for housing, who presented the keys to the beneficiaries, said 100 housing units across the various schemes would be handed over monthly going forward.
According to Lawal, about 4,355 homes are ready and available under the rent-to-own programme in five estates – Sir Michael Otedola Estate Odoragunshin, Epe; Oba Adeboruwa Estate, Igbogbo, Ikorodu; Choice City, Agbowa, Hon Olaitan Mustapha and Alhaja Adetoun Mustapha, Ojokoro, adding that a total of 12 schemes have been earmarked for the policy.
The rent-to-own policy initiated by Governor Akinwunmi Ambode is aimed at making houses affordable and accessible to the people in a state with over 3 million housing deficit. They came up with programme to cushion the effect of the economic recession and aid low/middle-income earners become homeowners. Under the scheme, the beneficiary pays 5 percent of the value of the flat and spreads the balance of 95 percent over 10 years while living the house.
“Suffice it to state that the housing policy was introduced in response to the yearnings of the populace for a cheaper and affordable shelter. This therefore prompted the state government to come up with some kind of innovation and amendment to the existing policy in order to meet up with the growing challenges of housing in Lagos State,” the commissioner said.
Some of the allottees that spoke at the presentation lauded the initiative. William Nsebot, a chartered accountant from Akwa Ibom State, who was allotted a three-bedroom at Olaitan Mustapha Estate, Ojokoro, said it was gladdening that the government had fulfilled its promise.
Bamidele Idowu, another allottee of a two-bedroom flat at Sir Michael Otedola Estate, Odoragunshin in Epe, thanked the state government for keeping faith with the programme