Lagos State Government Revokes Unoccupied State Allocated Housing Units

The Lagos State Government has announced the revocation of state-allocated housing units left Vacant for over two years.

Announcing this decision, The state Commissioner for Housing, Moruf Akinderu-Fatai, in a statement issued by the Director of Public Affairs, Ganiu Lawal, on Wednesday said:

“The Lagos State Government has announced the revocation of unoccupied housing units allocated to subscribers left vacant for over two years.

“The Lagos State Government Housing Units are meant for those who need them, not speculators,” he stated.

Lagos State Housing Allocation

In recent years, the Lagos state government has focused on championing affordable housing through outright purchases, Rent-to-Own schemes, and the Lagos Home Ownership Mortgage Scheme (Lagos HOMS) aimed at supporting first-time homeowners.

These schemes provide a means of homeownership for many individuals who might not be eligible for mortgages all with the aim of reducing the state’s housing deficit of 3 million.

Rent-to-Own Scheme

The Rent – to – own scheme is a lease arrangement that allows residents to rent a house in different state-built estates in Lagos, including new projects in regions like Sangotedo and Badagry with an opportunity to buy it later.

Allocation of houses are done through an open ballot system targeting low- and middle-income earners. This initiative allows prospective homeowners to pay an initial 5% of the cost of a housing unit and spread the remaining 95% over a 10-year period through monthly rental payments thus making it easier for residents to transition from renters to owners over time.

However, to be eligible for this scheme, individuals must have a regular income and be registered with the state as compliant taxpaying residents.

Lagos Home Ownership Mortgage Scheme (LHOMS)

The Lagos Home Ownership Mortgage Scheme is an initiative created by the Lagos State Government to promote affordable homeownership, particularly for first-time buyers.

Under this initiative, the Lagos state government offers mortgages spanning 10-15 years to enable first time buyers purchase homes through incremental payment while living in them. To also be eligible for this scheme, individuals must have a regular income and be registered with the state as compliant taxpaying residents.

Why Lagos state is Revoking Housing Allocations

Some of the allocated housing units have been left occupied long after allocation while some housing units have also been held on to by speculators which has defeated the state government’s purpose of allocating such units to individuals in genuine need.

This neglect has also led to the deterioration of such estate’s hence the government’s decision to retrieve such unoccupied allocations and reallocate same to other residents in genuine need of housing.

 

 

 

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