Posts with tag "lagos state"

In my article - "Making the Process of Buying  Property in Nigeria Less Cumbersome", I posited that by virtue of the Land Use Act of 1978, all lands in the respective States of Nigeria, belongs to the State government. In the light of this, it is the prerogative of the State governor/government to determine what a piece of land can be used for. It beggars belief that via a fiat, a State government will displace an entire community that have lived in a particular place for hundreds of years, in some cases, with little or no compensation or alternative arrangement for the displaced people. When there is compensation, corruption makes it impossible for the money to trickle down to the rightful beneficiaries.

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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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If feelers from the Lagos State Government is anything to go by, the state is finally poised to relocate the ever popular Ikeja Computer Village to a new site, Katangowa Internet City, somewhere around Katangowa Market in Agbado, Oke-Odo area of Lagos State (Along the Abeokuta-Lagos expressway).

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We wrote in one of our previous articles that arrangements are in advanced stage by the Lagos State Government to start issuing electronic C of O's to landowners in Lagos State. This step will not only make the process transparent but it will also check the fraudulent activities of unscrupulous estate agents, surveyors and the so-called omoniles. Herein are the required documents needed to obtain the electronic C of O:

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After sorting out all issues surrounding one of the outstanding but upcoming housing projects in Lagos State, the coast is now clear for the take off of the development, as indication emerged last week that the developer may soon move its contractors to site to deliver  ‘Modo Heights’ estate.

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In the Tenancy contract, the Landlord hands over exclusive possession of the property to the Tenant for an agreed period of time, in return for rental payment; at the expiration of the Tenancy period, exclusive possession of the property reverts to the Landlord.

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All abandoned properties within the landmass of Lagos State may be taken over by the state government, a step to forestall security threats milling round the metropolis, officials in the Ministry of Physical Planning and Urban Development have hinted.

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Lagos State government earmarked N43 billion in the state’s 2012 budget to tackle the problem of housing in Nigeria’s commercial nerve centre, through a rent-to-own option.

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The Lagos State governor, Babatunde Raji Fashola SAN, seems intent on complicating the (even at best of times) fractious relationship between landlords and tenants in the state. After signing into law the Tenancy Law which restricts the payment or rent to one year in advance, proposing that landlords may be asked to account for the criminal activities of their tenant, he has now told tenants to deduct withholding tax from the rents they pay their landlords. Speaking at the 5th Lagos State Taxation Stakeholders Conference last month, the Governor said “Everybody who pays rents for example, is collecting agents for withholding tax. And it is five per cent.

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