Lagos State is opening the bid for 1,000 housing units in the rent-to-own policy under the Lagos Home Ownership Mortgage Scheme (LagosHOMS).
Commissioner for Housing, Gbolahan Lawal, said at a news conference in Lagos that about 12 housing estates in different parts of the state would be affected by this offer
“The rent-to-own policy targets the low and medium income earners in both the formal and informal sectors. Under this arrangement, individuals are required to pay 5% of the value of the housing unit as commitment fee and the balance is spread over 10years.
This programme allows the tenant to live on the property while paying towards ownership at a fixed rent within the period of 10years.
A total of 12 housing estates have been dedicated for the implementation of the rent-to-own policy.”
The commissioner listed sstates involved in the offer to include Sir Michael Otedola Estate, Odoragunshin, Epe; CHOIS City, Agbowa, Odo-Onosa, Agbowa; Adetoun Mustapha Estate, Ojokoro; Olaitan Mustapha Estate, Ojokoro, among others.
“The policy is to be launched on December 8, 2016.
The state government collaborating with the law enforcement agencies, is also to frontally enforce the restriction on operations of commercial motorcycle and tricycle operators, starting from now.
Lanre Elegushi, the Lagos State acting commissioner for transportation while speaking on the issue, together with the representative of the commissioner of police in Lagos, Fatai Owoseni, said nobody, no matter how highly placed, would not spared, warning that any law enforcement officer caught violating the law would be dealt with.
Joshua Bassey
