Service plots of land available for sale at Lashone Estate Ibeju-Lekki

LASHONE ESTATE IBEJU LEKKI

In the mind of a true developer, location is key and an area that has successfully attracted over 2 million people including the state & federal government, multinational companies, factories and industries  could only be seen as city of fortune, which brings development, great investment and a good life. Lashone Estate Ibeju Lekki is a definition of an affordable housing scheme resident in the city of fortune, located in an area that fully enjoys accessible roads, maximum security, well planned neighborhood, adequate water supply and electrification.

With a growing population of 20million and the rapid growth to becoming a megacity, Lagos state has become the home to investors both local and foreign. And Lekki has become the panacea for the turning of Lagos into a megacity. Lashone Estate Ibeju-Lekki is located at Ibeju-Lekki, about 5 minutes drive after eleko junction and shares a fence with Amen Estate.

Lashone Estate Ibeju Lekki is a housing initiative that is set up to meet housing demands across the country. This successful project has brought satisfaction to every subscriber who has bought into it by offering instant allocation and a self mortgage plan which gives you that dream home you deserve.

 The estate is a 10 minutes’ drive from the prestigious Lekki Free Trade Zone and Estates and other Landmarks within the neigbourhood include Federal Government Teacher’s Estate, Lagos State Golf Course, Cargo Port Construction, Seaport Construction, La Campagne Tropicana Beach Resort and Island International Airport.

 Estate Facilities

v  Street Lights

v  Shopping Center

v  Clinic

v  Schools

v  Integrated Security System

v  Landscaping

v  Central Sewage Treatment Plant

v  Central Water

Recreational Center

v  Swimming Pool

v  Club House

v  Sports Center

LAND SIZE	PLAN TYPE	PAYMENT TYPE	INITIAL PAYMENT	MONTHLY PAYMENT
324sqm 450sqm 450sqm 450sqm 648sqm 648sqm 648sqm 1000sqm 1000sqm 1000sqm	------- Outright payment Supple (6months) Economy (12month) Outright payment Supple (6months) Economy (12month) Outright payment Supple (6months) Economy (12month)	N2,500,000 N4,000,000 N4,500,000 N5,000,000 N5,000,000 N5,500,000 N6,000,000 N7,000,000 N7,500,000 N8,000,000	----- ----- N1,000,000 N1,150,000 ----- N2,000,000 N1,600,000 ----- N2,500,000 N2,500,000	----- An acre N20m (N700,000 X 5month) (N350,000 X 11month) An acre N25m (N700,000 X 5month) (N400,000 X 11month) ----- (N1,000,000X5month) (N500,000 X 11month)

For more information and site visitations on any of these listed properties, kindly contact Ifeanyi on; mobile: 08088995417, 08066348443. 

Email: onuohaii@gmail.com, 

BBM: 59339598

Oakwood Garden Phase 2 by Lekki Free Trade Zone selling for N4.5m (with C of O)

Oakwood garden estate phase 2 is indeed a true definition of luxury by the sea side. It’s located on the same lane with the Lekki Free Trade Zone (LFTZ), Dangote Petrochemical Refinery, Power Oil Industries, and it’s also overlooking the major Coastal Road, the Deep Sea Port, Industries, and numerous estate to mention but a few.

The estate has a perfect title; a Certificate of Occupancy, and it’s available for viewing and proper verification at Alausa, Ikeja.

Ibeju Lekki axis is experiencing a very rapid rate of development with an annual economic growth rate of about 25%. Real estate Investors around this corridor reap nothing less than 200% per annual as the rate of return on investment has always been on the increase. The LFTZ is a model project for inter-governmental cooperation between China and Nigeria attracting preferential policies and incentives for the investors in the zone. The area is planned to thrive in production, manufacturing, oil & gas, import & export trade, transshipment, tourism and real estate.  Lekki free trade zone region is the new investment, business and tourism haven of Lagos state, particularly in line with the mega-city status of Lagos.  COME NOW & INVEST INTO AFRICAN DUBAI

PRICE: Oakwood park estate is now offering for sale plots of land for N4.5m only. Installment plan is selling for N5m, with an initial deposit of N3m, and the balance spread over a period of 12 months at N250,000 monthly.

The estate will serve as a major landmark to be reckoned with along this axis, serving both commercial and residential purpose. This housing scheme will also provide a unique, luxurious, serene, secured, and state of the art environment that will enhance healthy and safe living.

Plot size: 675sqm

Land type: Dry, sandy soil that doesn’t need sand filling.

FOR MORE INFORMATION AND SITE INSPECTIONS; CALL IFEANYI ON 08088995417, 08066348443

OFFERING FIRM: PWAN HOMES LTD

Amazing Real Estate Opportunity at Havilla Garden Estate Ibeju-Lekki

BUY 5 PLOTS OF LAND GET 1 PLOT FREE AT HAVILLA GARDENS ESTATE

PRICE: N540,000 PER PLOT

Havilla Garden is a well planned estate situated at Elerengbe axis, off lekki –Epe Express way, Ibeju-lekki Lagos State. The land is currently undergoing excision process in Lagos state land bureau.

Within this Estate, there are areas allocated for the provision of infrastructural facilities such as roads, walkways, green and recreational area etc. There will be adequate land provided for the construction of a school, bank e-center, shopping center, fast food center and recreational area. The plots are well arranged and strategically located.

The primary goal of the scheme is to provide a unique, quiet, safe, serene, secured and clean residential environment that will enhance healthy and safe living devoid of the hustle and bustle of inner Lagos.

The basic objective of the residential scheme is to provide a top class residential environment for an exclusive group of people, complete with infrastructural facilities and social amenities that would compliment the residential area within a defined and walled estate.

Buy 5 plots and get one plot free! Yes it’s real. The land is very dry and sandy. No omonile issues.

Price: N540,000/plot. or N180,000 for three consecutive months
Installment plan: N600,000. With inittial deposit of N120,000 and the balance spread over a period of 12months at N40,000 monthly.

The location is about fifteen minutes drive away from Eleko junction, and about forty-five (45) minutes drive from Ajah bus stop.

Plot Size: 675sqm

Type of Land – Dry, sandy land

Title: Survey Plan

Offer closes in November.

For more information and site inspections  which takes place everyday except Sundays, call Ifeanyi on 08088995417, 08066348443. PWAN EDGE LTD.

Buy a plot at Gosgra Neighbourhood Estate Ikorodu for only N500,000

Gosgra Neighbourhood estate Ikorodu is another laudable project by Gosgra Properties and Investment Limited. The estate is strategically located within the easy access of Itokin road. It's more than 170acres estate located at Mosafejo bus-stop immediately after Imota, about 10mins drive from Caleb University.

The estate has been fenced round with the drainage facilities almost completed, the security post and the gate house has also been completed. The land is dry and not prone to flooding, it's a very good location for land speculators who are ready to reap huge fortune in the real estate sector as the product is more affordable when compared to other real estate products within the same geographical location.

The facilities to be provided withing the estate includes the perimeter fencing, gate house, security post, road network, drainage system, etc. The estate has been thoroughly surveyed and the document is available anytime at the request of our prospects/clients.

PAYMENT OPTIONS:
The outright price per plot is N500,000


N190,000 monthly for 3 months = N570,000

Don't wait to buy this land, buy the land now while it's very cheap and affordable, then wait and watch as your investment grow overtime.

For more information and site inspections, contact Ifeanyi at Gosgra Properties and Investment Limited. 1B, Akinwale street, off Thomas Salako street, Ogba, Lagos.
Mobile: 08088995417, 08066348443

Stimulating economic growth through housing finance

By YINKA KOLAWOLE

The housing sector is seen as an important sector for stimulating economic growth in most developed countries. Indeed, housing construction indices are some of the most common measures used by analysts to gauge economic trends in OECD countries. Today, housing and construction sector still accounts for only 3.1 percent of the GDP of Nigeria, Africa’s largest economy with a GDP of N80.3 trillion ($510 billion) as at 2013.

Despite the size of the Nigerian economy, mortgage debt to GDP is only about 0.5 percent. Minister of Finance/Supervising Minister of the Economy, Dr. Ngozi Okonjo-Iweala, noted at a recent World Bank forum, highlighted the potential contribution of the housing sector to national development in three possible ways.

First, she noted that the sector can serve as an important contributor to economic growth. According to her, the housing sector has a tremendous multiplier effect on the broader economy.

“Housing contributes to GDP through two main channels, namely: private residential investments, such as, construction of new homes, and also via the consumption spending on housing services.

There are also secondary economic impacts of the housing sector. Housing wealth is often a large component of net personal wealth (about half of net personal wealth in the USA). And in developed countries, housing wealth/assets can often be used as collateral to stimulate additional private consumption and investments,” she stated.

Okonjo-Iweala also noted that the housing sector can support job creation and economic inclusion. “The job creation potential for the housing sector is enormous in Africa and other developing countries. In India, each new housing unit generates 1.5 direct and 8 indirect jobs. In South Africa, each housing unit creates 5.62 direct jobs and 2.5 indirect jobs.

But the key point is that the sector can also help promote economic inclusion by creating jobs for our craftsmen and artisans such as masons, plumbers, welders, electricians, painters and so on. It is estimated that for every new house built 3 direct and 8 new indirect jobs are created. Unlocking the housing sector will mean the creation of thousands of jobs for architects, builders, plumbers, welders, electricians, painters,” she declared.

The minister said the housing sector also provides social benefits by contributing to community – and nation – building. “We know that home-ownership often gives citizens a true stake in their communities. After owning a home, many citizens tend naturally to be concerned about the provision of public goods in their communities – from schools, to clinics, to security.

These are intangible social benefits which a strong housing sector can help to generate,” she remarked. Sonnie Ayere, pioneering CEO of the Nigeria Mortgage Refinance Company (NMRC), said that the company, which was launched in January 2014, is expected to unlock the value drivers within related business sectors further increasing multiple lines of incomes for business.

He added that lower income households are expected to benefit from NMRC through direct jobs created by the construction of new housing units and services required to build a home and deliver it to the final customer. “We expect to see an estimated 490,000 additional sustainable jobs over the next coming years.

The wages earned by workers and profits earned by businesses during the construction period are spent on other local goods and services. This generates additional income for local people, which is spent on still more local goods and services, and so on,” stated.

When Governor Babatunde Fashola inaugurated the Lagos State Home Ownership Mortgage Scheme (Lagos HOMs), he remarked that several jobs were created on construction sites that have benefitted 134 construction companies, 459 sub-contractors employing over 1,168 persons, seven consultancy companies and 5,442 suppliers, artisans, labourers and numerous citizens who are employed in the supply chain of sand, gravel, wood and fittings, as well as food vendors and transports.

Indeed, the impact of housing development goes beyond the valuable social benefits of providing shelter, not least of which is giving homeowners a true stake in their community. Also, at the launching of the first 10,000 Affordable Homes Mortgage Scheme under the Nigerian Housing Finance Programme, Okonjo-Iweala harped on the socioeconomic impact of the scheme.

“It will lead to the increased contribution of housing to GDP from the current negligible 3.1 percent of our rebased GDP to the high tens of emerging and developed economies such a Malaysia and the United States. It will lead to more jobs being created and to greater economic inclusion. It is estimated that for every new house built 3 direct and 8 new indirect jobs are created.

Unlocking the housing sector will mean the creation of thousands of jobs for architects, builders, plumbers, welders, electricians, painters,” she declared. Gregory Ozegbe, Executive Chairman, Housing Alliance Group, estimated that Nigeria’s mortgage market has the potential to contribute more than 50 percent of the country’s GDP.

“To put matters into perspective, assuming that 18 million Nigerians qualify for mortgage loans at an average affordable housing loan of say about $20,000.00, the potential size of the mortgage market would be $360 billion while at the same time adding this amount to Nigeria’s GDP,” he stated.

The impact of housing development goes beyond the valuable social benefits of providing shelter, not least of which is giving homeowners a true stake in their community. In fact, there are substantial indirect benefits that result from consumer spending, as housing industry workers spend more money and new homes are occupied.

http://www.vanguardngr.com/2015/04/stimulating-economic-growth-through-housing-finance/

Affordable housing: Fashola unveils CHOIS City Estate in Agbowa

By Olasunkanmi Akoni

The initiative which is meant to address the housing deficit in the state witnessed the unveiling of the first phase which comprises 280 two-bedroom semi-detached bungalows and 180 three-bedroom semi-detached houses.

Speaking at the event on Wednesday, Fashola disclosed that the project which involves the partnership between the state government and First World Communities to provide 10,000 homes was to complement government’s effort in community development under the Co-operative Home Ownership Incentive Scheme, CHOIS, in such a way that the ability to become a landlord will be tied to the occupant income and prosperity.

The governor stated, “The truth is that there are many people in our society who need home and can get loan from their place of work but there is no houses to buy while some people also need the support of government to become the landlord, this is what the Lagos State Mortgage Homes and CHOIS City meant to address. This is our first establishment of lease-to-own that involves gradual payment in which after 15 years window one will become the ownership.”

He however, noted that such benefit is what democracy can offer when government is accountable to his people. “Agbowa and its environment ensure you collect your voter’s card and vote wisely so as to ensure continuity of this progressive work in the state and vote for change which our party represents.”

On his part, President of First World Communities, Brig Gen Tunde Reis, Retd, said that the first phase of the project which is 10,000 homes is going to be built across the three senatorial districts of Lagos State with the core aim of delivered housing for low and medium income households in sustainable communities through lease-to-own schemes.

“The pilot project, CHOIS Garden, which was developed at Abijo Government Reservation Area, GRA along the Lekki-Epe Expressway is to have over 2,000 homes with over 500 already built and allocated. Agbowa target is 4,000 homes, Epe-Ibeju is 1,000 while Badagry axis is to cover 3,000 homes. All in such a way that ability to avoid it is tied to once income and continued prosperity.”

Speaking on the benefit of newly commissioned CHOIS City at Agbowa, Reis said that once the prospective buyers pay 10 per cent of the total purchase price, he/she is entitled to move into the house. “This initial deposit is expected to be funded from personal savings and on the completion of payment the title passes on to the buyer.

“The estate is accessible from Central Lagos via Epe, and from Ikorodu via Itoikin. Agbowa is about 30 kilometers from Ikorodu town and the estate could be reached from Agbowa through Lateef Jakande way on either of Agbowa city centre or Community Grammer School, Owu-Ikosi in close proximity off the Itoikin Road. Access is also possible to the site through the Lagos Lagoon from Ijede in Ikorodu, Badore and Victoria-Island.

“The estate is to have 4,000 housing units on about 200 hectares of land with associated infrastructure and amenities. The first phase of development comprising 460 homes of two and three bedroom semi-detached bungalows and interested person can apply to Lagos CHOIS LP for membership”, he stated.

- See more at: http://www.vanguardngr.com/2015/01/affordable-housing-fashola-unveils-chois-city-estate-agbowa/#sthash.0H0lNaPG.dpuf

Rising rent, vacant houses, homeless tenants

By Yinka Kolawole

In spite of the huge housing deficit in Nigeria, there are increasing cases of unoccupied houses in major cities across the country. Experts blamed this mostly on soaring cost of renting houses in places such as Lagos, Port Harcourt and Abuja, which are beyond the reach of potential tenants.

Other reasons fingered for this paradoxical situation, especially in high brow and middle brow areas of the cities, are high cost of building material, land, lack of infrastructure facilities, inability to access fund, among other reasons.

Findings reveal that annual house rents range from N500,000 to N1 million for 2/3 bedroom flats in such places as FESTAC, Surulere and other middle income areas of Lagos. In FCT, it costs between N2.5 million and N3 million to rent a two-bed bungalow in areas such as Maitama, Asokoro, Wuse and Garki, while it costs between N400,000 and N700,000 to rent a two-bed room apartment in the satellite towns such as Kubwa, Lugbe and Karu areas per annum.

Port Harcourt, one-bedroom flat costs N250, 000 to N350, 000 per annum, depending on the location in the oil city, a two-bedroom flat goes for between N400, 000 and N650, 000 per annum, while a three-bedroom flat and four-bedroom bungalow cost between N800, 000 and N1.3 million per annum, respectively. Prof. Timothy Nubi of the Department of Estate Management, University of Lagos, noted that by UN standard, a worker should not spend more than 30 percent of his/her income on rent.

“By the time a civil servant pays 60 percent of his income on house, it definitely affects his general well being. The UN standard is that nobody should pay more than 30 per cent of his income on rent. By the time you pay more than 30 percent it means that the houses are not affordable,” he said. Emeka Okoro, who has been searching for accommodation through an estate agent for the past six months in Lagos, lamented the astronomical fee being demanded as rent.

“You see lots of beautiful buildings that have been completed but with no occupants because of the outrageous prices they are tagged, either for rent or sale,” he lamented. Analysts believe that lack of property tax regime is partly responsible for the increasing cases of unoccupied buildings littering the cities. They posited that property tax will provide a check on greedy property owners and alleviate the sufferings of tenants who can’t afford the high cost of accommodation being demanded.

As a way of redressing the trend, the Nigerian Institution of Estate Surveyors and Valuers (NIESV) has called for imposition of special taxes on unoccupied buildings. According to Mr. Rowland Abonta, 2nd Vice-President of the institute, imposition of taxes on properties that are vacant for years continuously would force owners of such buildings to reduce the cost of rent to attract tenants. “There are quite a number of vacant houses around but the rent is high.

Many of these houses are built by very rich people who didn’t suffer much for the money and so when they build the houses and fix the prices, they can afford to lock up the houses if people don’t rent them. But there is a way out – government should start imposing taxes on such accommodation when these houses are built. They should be able to pay government such taxes and this could be used to put pressure on them to rent out the houses,” he said.

Indeed, the Federal Capital Territory Administration (FCTA) said it had mapped out measures to check the activities of owners of housing estates that remained unoccupied for more than six months after completion. Mr Dominic Odenigbo, Head of Aesthetics and Amenities, Department of Development Control of the Administration, noted the reason for constructing a house is habitation, adding that the initiative would have been defeated if after completion such houses remain unoccupied for years.

He said that some owners of such unoccupied estates were not eager to allow tenants into their houses and estates because their sources of funds could be questionable. “Part of our condition for granting building approval is for that construction to commence not later than six months after approval and completed, at most, two years after. But we have observed that several of the houses in the city and in some mass housing estates are not occupied for several years after construction and that is not acceptable.

Some builders acquire these structures as a way to tie down illegally acquired wealth so, they might not be eager to rent them out. To stop this trend, we plan to include a clause in the approval that would compel builders to rent or occupy such houses not later than six months after completion,” he stated.

The Central Bank Cash Transaction limit policy makes it impossible to lodge certain amount of money without drawing attention. So, people who embezzle money invest in property with pseudo names with no plans to rent or make the rents unaffordable. The introduction of property tax, whereby anyone who has more than two houses, or owners of houses unoccupied for upwards of six months, would be made to pay higher tax on such properties will not be out of place.

http://www.vanguardngr.com/2015/03/rising-rent-vacant-houses-homeless-tenants/