Posts with tag "housing scheme"

Citing his governments desire to encourage low income Lagos residents to own homes without much stress, the Lagos State Governor, Mr. Babatunde Raji Fashola on Monday 03/02/2014 flagged off the Lagos Home Ownership Mortgage Scheme (LagosHOMS). Mr. Fashola said LagosHOMS is part of his administration's solution towards reducing the acute housing deficit in Lagos State. According to Fashola, "the economic realities had made house ownership almost impossible for most income earners". He went further to say, "for many years, our people have had to acquire houses, often times being required to pay cash once and for all, as if they were buying a shirt or a pair of shoes in a shop. This approach in part, explains why a large number of ordinary middle class and working people, cannot afford to acquire homes on the basis of their legitimate income derived from hard work. In Lagos, we are of the view that a home is not something you buy in one day, but over time in a way that your ability to acquire is tied to your income and continued prosperity".

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There is some cheery news for prospective home/house owners in Nigeria. Nigeria’s Federal Executive Council recently approved the request of the Minister of Finance, Dr. Ngozi Okonjo-Iweala, to secure a $300 million loan from the International Development Association Housing Projects in Nigeria. Housing demand exceeds its supply and this has a multiplier-effect on rents. It is estimated that Nigeria needs more than 700,000 housing units annually as against the current 100,000 units available.

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To meet the United Nations Millennium Development Goals (UN-MDGs) on housing needs in Yobe State in the year 2015, Yobe State Executive Council, last week approved the release of ₦1.6 billion for the construction of 300 additional housing units under the state government’s Owner Occupier Housing Programme (OOHP).

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Following concerns by subscribers of the Egan-Igando millennium scheme on the delay in the delivery of the project, fresh efforts are underway to resurrect construction activities in the 1,350-unit Housing Estate in Alimosho area, Lagos State.

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Higher income bracket subscribers will again have a pride of place under the government’s dream project to increase the housing stock in the country.

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For those who need homes to buy but don't have all the money for outright payment, Coral Courts offers an opportunity for homeownership with its flexible payment plan.

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Spirited to increase estate development and home ownership in Nigeria, the Federal Mortgage Bank of Nigeria (FMBN), has proposed a fresh initiative, which will usher in an Estate Development Guarantee (EDG) scheme

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Following the decline in few performance parameters, the Lagos State authorities have generated N13.23 billion, out of the projected N15.9 billion from the Land Bureau in the 2010 fiscal year, which is about 81.61 per cent of the budget provision for the period under review.

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Real estate investors seeking advice and creative solution for their investment need not look farther as their destination is here at Propertymart Real Estate Investment Limited. Propertymart is a Lagos-based firm involved in real estate investment, design , construction and marketing with a deep understanding of the unique demands of owning property. The company is also committed to delivering results. In addition to its mission provide creative and effective solutions in real estate investment, the company also has the vision to be the foremost real estate investment company whose tentacles are spread all over the world to offer high value services to all its clientele and partners.

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Nigeria Property Centre does NOT subscribe people to the HOMS Scheme. Visit the Lagos State Government website for details on how to subscribe.

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