The Lagos State Governor, Mr. Akinwunmi Ambode, has approved the creation of three new residential schemes for allocation to residents in the state as part of efforts to meet the housing needs of Lagosians.
Mr. Bode Agoro, Permanent Secretary, Lands Bureau, who stated this in his office recently, reiterated the commitment of the present administration to alleviate the hardship faced by the citizens in securing comfortable accommodation at an affordable price in the state.
The Permanent Secretary stated that the schemes, namely Safe Court Gardens in Ijanikin, Treasure Park in Badagry and Prince Court in Sangotedo, Lekki were carefully designed to ensure that allottees live in comfortable homes in a safe, clean and peaceful environment.
He noted that the schemes will be unique, well managed and constructed with quality infrastructure to show government determination and willingness to provide sustainable property investment.
While urging potential buyers to take advantage of this noble initiative, Agoro stated that the government adopted the Off-Plan Sales method for allocation of these schemes as against the previous conventional method of allocation in the State.
He explained that the concept is to buy a property Off- Plan at current price and when infrastructural development is completed in a year or so later, the capital appreciation would have made it worth much more.
“This is the first time in the history of Lands Bureau that such method of allocation is being adopted”, he said.
He added that the Off -Plan Sales method of Allocation/ Payment is adopted to ensure successful delivery of the Schemes within stipulated time frame, while sparing the Government the hitches of sourcing for funds to bring these Schemes to fruition.
According to him, purchasing plots in these Schemes is a good investment for potential Owner, Occupier and Property Investors alike, stressing that limited number of plots in each scheme will be available on First Come/Pay, First Served basis.
The Commissioner maintained that plots in these areas will increase considerably in value with the Take-Off /Completion of the Schemes and will also end the era of double allocation which practically makes the investment secure as well as excludes the challenges posed by Land grabbers.