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Saturday, November 13, 2010

Lagos State Government Housing Scheme 2

                     
The Lagos state Government Housing Schemes are scattered in different zones to allow for even development within the state.
The Government is creating New Housing schemes, while new towns are being created, existing ones are being reviewed.
Provisions of infrastructure in these schemes have also been pursued with vigor and determination by The Lagos State Government.


PRINCIPAL OFFICERS IN- CHARGE



Commissioner For Housing
DELE ONABOLU
+234-08033852527
Onabokundele_housing@yahoo.com
Ministry Of Housing
Permanent Secretary
Engr.P.O Bamgbose Martins
matokins2003@yahoo.com
New Town Development Authority
Officer-In- Charge
Mrs.F.M Awofisayo
+234-8023132494
fmawofisayo@yahoo.com
Lands –Permanent Secretary
Mr.G.O Ashafa
+234-8022243054





We  recognize your constraints . We  are here on the ground and will be your eyes , your ears, and, your partner here in the Lekki Axis. We are here to help and will act fully on your behalf. So that you are rest assured of a stress free buying experience.












NINE NEW  ESTATES IN LEKKI


The Permanent Secretary of the Lagos State Lands Bureau has said that as part of the plan of the Lagos State Government to decongest metropolitan Lagos towards the North West, South West and Lekki axis, fourteen new schemes are to be developed in different parts of the state.
Nine of the schemes are to be sited in the Lekki axis, while five will be in the Badagry division and the last one in Ikorodu division. The Lekki Schemes are all located after Ajah towards Epe. 


1.Fairmont Garden Scheme. 
2.Rainbow Mixed Development Scheme. 3.Kings Court Residential Scheme.
4 CBD/Mixed Development Scheme.
5Grand View Mixed Development Scheme 
6.Ibeju Mixed Development Scheme. 7.Savannah Mixed Development Scheme. 8.Pearl Scheme. 
9.Queens Palm Mixed Development Scheme.


These are the grand sounding names of the new estates. This is probably because they are planned as high-end and middle-end estates.

According to the officials of the Public Relations Department of New Towns Development Authority (NTDA) both Fairmont Garden Scheme and Rainbow Mixed Development Scheme are located in Olokonla behind Abraham Adesanya Estate about three minutes drive after Ajah junction and about seven minutes drive from VGC. Both schemes are to be for mixed developments (commercial and residential). Opposite Abraham Adesanya Estate is Grand view mixed development Scheme

Kings Court Residential Scheme is situated in the Sangotedo about ten minutes drive from VGC. The total land area of this scheme is 70.19 hectares as follows: Sports area 5.34hectares, Housing 28.84hectares, Services 12.71hectares, Site and Services area 20.30hectares It has been designed in 5 Phases with only Phase 1 presently being developed. Phases 2 to 5 are awaiting investors tapping.

CBD/Mixed Development Scheme, Savannah Mixed Development Scheme, Queens Palm Mixed Development Scheme and Ibeju Mixed Development Scheme are all located in Abijo in Ibeju Lekki about five minutes drive from Sangotedo and about fifteen minutes drive from VGC. The last on the list, Pearl Scheme is located in Ogombo a fast developing neighbourhood along the Lekki Epe expressway. Ogombo is about ten minutes drive from VGC towards Epe Town

Though the new schemes have already been earmarked for different parts of the Lekki Peninsula, official information from NTDA, shows that they are yet to be available for the public to buy into. The explanation given for this is that, NTDA wants infrastructure to be put in the schemes before they start allocating plots to the public.

"We want to forestall the cases were Allottees refuse to develop their plots for a long time and distort the plans of the state government with excuses that they cannot move into their sites because of lack of infrastructure like road, electricity, drainage etc."

They however said some of the schemes will be available to the public before the end of the year.

Despite being planned as high-end and middle-end estates, officials of NTDA explained that their prices will be affordable with due consideration given to current price trend in the axis.

Pulic & private partnership
in :
the new towns development



I AM USING THIS MEDIUM TO OPEN THE DOORS OF INVESTSMENT OPPPORTUNITY TO NIGERIANS AND MOST ESPECIALLY THOSE LIVING ABROAD TO PARTICIPATE IN THE ECONOMIC TURN AROUND OF OUR DEAR NATION, IN LINE WITH THE NEW LAGOS STATE PUBLIC PRIVATE PARTNERSHIP POLICY IN THE NEW TOWNS DEVELOPMENT SCHEME TO ACCELERATE THE PROVISION OF PUBLIC AMENITIES SUCH AS ROAD, HOUSING, EDUCATION, HEALTH, AND OTHER PUBLIC INFRASRUCTURES TO THE BENEFIT OF THE INVESTORS AND THE GENERAL PUBLIC.




THE LAGOS STATE GOVERNMENT WILL PROVIDE THE ENABLING ENVIRONMENT:
LAND DOCUMENTATIONS AND APPROVAL TO EXECUTE THE PROJECT AS PART OF LAGOS STATE EQUITY SHARE IN THE PROJECT WHILE THE PRIVATE INVESTORS WILL PROVIDE ALL THE FACILITIES NEEDED TO COMPLETE THE PROJECT.


A RECENT SUCCESSFUL CASE STUDY IS THE CONSTRUCTION OF THE LAGOS-EPE CONCESSION EXPRESSWAY BY A CONSORTIUM AND THE LAGOS STATE GOVERNMENT.

INVESTMENT opportunities:             lagos lekki free trade zone


This is a general call for Investment in the Lagos Lekki Free Trade Zone.
Individuals can participate through Individual Merger,by pulling their resouces together to purchase Hectares of undevelop Land for the development of Residential or commercial Real Estate.
Corporate organizations can invest through Merger, to purchase undeveloped Land covered by the Lagos Free Trade Zone. They will establish manufacturing and allied company for production,with excellent production incentives by the Lagos State Government Free Trade Zone Incentives


CONDITION FOR ALLOCATION

        

Direct allocation from the Lagos State Government has proved over the years to be one of the best ways to acquire land in the state. Not only are the prices relatively cheaper, there is also the benefit of having what is considered to be the best title in the state: a Certificate of Occupancy issued directly by the state Government. What is quite interesting is that there are schemes which are affordable for both the "budget conscious" class and upper class as highlighted below.


Epe Residential Scheme –N200, 000
Epe residential scheme is located inside the main Epe Town. Major access road to the area is from the Lekki Epe expressway and traffic time from the area to other parts of Lagos takes over one hour without traffic. Epe is a developed community on the eastern axis of Lagos and it is a city noted for its aquatic splendour. It is also one of the few locations in Lagos with several access routes. Apart from the Lekki axis, Epe can be accessed through Ikorodu. Currently, the Lagos State Government has proposed to develop the new International Airport close to Epe and this might just be the trigger that would lead to a mass exodus of real estate developments in the area. Infrastructure in Epe is at appreciable level. The roads are tarred and electricity from the national grid is connected to the nooks and crannies of Epe; however, potable water in the area is majorly from wells and boreholes. In the views of real estate pundits, buying a plot of land in Epe is a good investment decision especially as the gap between the area and Lekki gradually close-up. The projection is that as more and more real estate developments move towards the Epe axis both from private developers and the government, Epe in the nearest future could well be a real estate investment destination of choice. 



The cost of acquiring a plot of land in Epe Residential Scheme is put at N200, 000. 00. It is broken down into Land Charges: N43, 000. 00, Registration/ Conveyance Fees: N6, 500. 00, Survey Fee: N50, 000. 00, Capital Contribution: N100, 000. 00.


Mosafejo Aradagun Mixed Development, Badagry –N280, 000
Mosafejo-Aradagun Residential Scheme is located in Badagry. Aradagun-Mosafejo today is seen by many conversant with the Badagry neighbourhood as one of the most densely populated part of the ancient town. It opens to other towns like Iworo-Ajido, Topo where the Administrative Staff College of Nigeria (ASCON) is situated and Epe Town where the popular resort centre, Whispering Palms is located. Aradagun Mosafejo is about 5 minutes drive to the Badagry main town. Traffic time from Badagry to other parts of the state is currently nothing to write home about. At the moment, it takes about 2 hours to get to Mile 2 from Badagry because of the heavy traffic situation on the Lagos Badagry expressway. However, succour is underway for Badagry residents as the construction of the ten lane Lagos Badagry expressway is on-going. The road when completed is expected to come with a Bus Rapid Transit track and a Mono Rail track to make it a truly international road. The BRT and Mono Rail are expected to terminate in Marina on the Lagos Island. With such bi-modal transport system, traffic time from Badagry to the Island is projected to improve immensely. Aradagun Mosafejo is blessed with appreciable level of infrastructure. Power in the area is from the national grid and road networks connecting the area to the expressway are tarred. In terms of investment prospect, Badagry is a major transit point from Nigeria to other Western African Countries and this is expected to have an impact on real estate values of the area in the nearest future. It might also interest prospective real estate investors in Aradagun Mosafejo that several tourist developments are slated for the ancient city.

Currently, two massive tourism projects are being embarked-on by two set of private investors in Badagry. The first being developed by Pinnacle Point Group Ltd is expected to be the largest golf and leisure estate developer on the African continent. The project called Lagos keys is expected to be N30bn world-class golf estate; the project includes 300 luxury homes. This is an indication that some of the rich and famous may sometime in the near future be relocating to Badagry.This sort of investment is expected to have a multiplier effect on real estate development in the whole area, with new businesses expected to be created leading to demand for land and property.

Another tourism project that is expected to improve the profile of Badagry is the “slavery theme park” being promoted by a group of American investors called “The Motherland Group (TMG)” lead by Marlon Jackson a former Jackson Five band member and older brother to international pop superstar Michael Jackson. This group of investors plan to invest $5.3bn in the project that is expected to include a replica slave ship and allow tourists “walk the route of shackled slaves” in Badagry. The park is expected to include luxury hotels, a golf course, and shopping malls and so on.

The Motherland Group projects that 1.4million visitors will come to the park in the first year and this figure is expected to reach 4.4million visitors in five years. If this project comes to fruition, the implication is that a whole new tourism market will be born in Badagry, and there is very little doubt that real estate will form an integral part of this market especially when one looks at other cities of the world like Rio de Janeiro, Miami or Dubai where the real estate market has benefited from tourism over time.
    
    Valley View Scheme, Agbowa Commercial, Ikorodu N704, 000 – N2.2m
Valley View Scheme is located after Ikorodu along Itoiki road leading to Epe. As the name connotes, Valley View Scheme is one of the schemes set up by the Lagos State Government for purely commercial purposes. Infrastructure in the area is in top shape. The road from Ikorodu all the way to Epe through Itoiki is tarred. Electricity is connected to the area from the national grid, while potable water is gotten from wells and privately dug boreholes. As a result of the commercial viability of the scheme, informed sources at the Lagos Lands Bureau explained to Castles that close to ten companies are ready to move into the scheme to commence operation this year. Some of the companies include, Sunola Foods, Spring Field, IAS Cargo Airlines Nigeria Limited and Broobs Company Nigeria Limited to mention a few.
Cost of acquiring a plot of land in the scheme is as follows: 2, 000sqm: N704, 000. 00. 5, 000sqm: N1, 200, 000. 00. 10, 000sqm: N2, 200, 000. 00.

Oko Orisan Water Front Scheme, Lekki N2.66m
Oko Orisan Waterfront Scheme is located along the Lekki Epe expressway just before the Lekki Epe Bridge. The scheme is few minutes away from the Lekki Free Trade Zone and Deep Sea Port being developed by the Lagos State Government in conjunction with other private international investors. Infrastructure in Oko Orisan is good. The major link road is the Lekki Epe expressway which is well tarred. Water is majorly from privately dug boreholes and wells but electricity is available from the national grid. The scheme is also being improved upon in terms of infrastructure by the Lagos State Government. Because of its Water Front nature, Oko Orisan scheme provides opportunity for eventual home owners in the scheme to have a feel of nature mixed with communal living.
To acquire a plot of land in Oko Orisan Water Front Scheme the figures by the Lagos State Government is put at N2, 660, 000. 00. It is broken down into Land Charges: N230, 000. 00, Registration/ Conveyance Fees: N120, 000. 00, Survey Fee: N150, 000. 00 and Capital Contribution: N2, 160, 000. 00.

Abijo GRA, Lekki – N7.47m
Abijo GRA is located few kilometers after the Victoria Garden City (VGC) along the Lekki Epe expressway. It is about 10 minutes drive from VGC and close to the scheme currently are privately developed estates of different shades and designs. Some of the estates include Fara Park Estate, Crown Estate, Ocean Gardens Estate, Amen Estate to mention a few. Recently, the Lagos State Government in conjunction with First World Communities unveiled another massive real estate development on the Lekki axis known as Cooperative Home Ownership Incentive Scheme (CHOIS). Located in Abijo GRA the housing scheme will consist a total of 1005 units of accommodation of both 2 and 3 Bedroom flats and Terraces, Duplexes cum Detached Houses of which the first phase having 64 flats is now ready for sale to the general public. The entire land area is 24 hectares already zoned according to the house types and uses. Presently, two classes of flats have been built in the estate namely, 2 Bedroom Standard (called Mobolaji) and the 2 Bedroom Deluxe flats (named Asiwaju). In terms of infrastructure, Abijo GRA is blessed with good and accessible road, while road network and drainages are almost on a daily basis being improved upon by the Lagos State Government. For prospective home owners, the impact of the expansion work on the Lekki Epe expressway on real estate values in the scheme cannot be overemphasized. Traffic time from Abijo to other parts of the Island like Victoria Island and Ikoyi is expected to improve to about 20minutes immediately the expansion work is completed as against the time of 1hour to 2hours because of the horrendous traffic along the Lekki Epe expressway. Abijo GRA is not far away from other well meaning projects from the Lagos State Government currently being developed on the Lekki axis. It is about 10 minutes drive to the ongoing Lekki Free Trade Zone, Deep Sea Port and the International Golf Course. The scheme being located to such important estate development is another reason why real estate pundits believe it is a good buy. Cost of acquiring a plot of land in the scheme from the Lagos State Government shows a figure of N7, 472, 500. 00 which is broken down into Land Charges: N285, 000. 00, Registration/ Conveyance Fees: N150, 000. 00, Survey Fee: N187, 500. 00 and Capital Contribution: N6, 850, 000. 00. However, in the secondary market, plots of land in Abijo GRA are already being offered for sale at between N10million and N12million.

Oko Orisan Commercial, Lekki – N13.178m
Oko Orisan Commercial is also located along the Lekki Epe expressway just before the Lekki Epe Bridge. It is a scheme specifically for commercial purposes. It is few minutes away from the Lekki Free Trade Zone and Deep Sea Port being developed by the Lagos State Government in conjunction with other private international investors. Infrastructure in Oko Orisan is good. The major link road is the Lekki Epe expressway which is well tarred. Water is majorly from privately dug boreholes and wells but electricity is available from the national grid. The scheme is also being improved upon in terms of infrastructure by the Lagos State Government. Because of its Water Front nature, Oko Orisan scheme provides opportunity for eventual home owners in the scheme to have a feel of nature mixed with communal living. For investors, buying into the Oko Orisan Commercial scheme is believed to be a good decision because of the number of on-going commercial cum industrial developments in the axis. A potential investor with plots of land in the scheme could well tap into the opportunities other businesses like the Free Trade Zone will eventually provide.
Price of a plot of land in the scheme is put at N13, 178, 860. 00. It is broken down into Land Charges: N638, 000. 00, Registration/ Conveyance Fees: N240, 000. 00, Survey Fee: N300, 000. 00 and Capital Contribution: N12, 000, 000. 00.

Conditions for acquiring Land in any of the Schemes
Interested persons are required to buy an application form from the Accounts Department of Lands Bureau, Block 13/ 14, Alausa Secretariat, Ikeja.
Form for the General Areas Scheme is N5,000
Form for the Prime Areas Scheme is N10,000
The Forms upon purchase are to be filled and submitted to the office of the Land Use and Allocation Committee (LUAC) for verification and processing.
After satisfactory examination of the filled and submitted form, the applicant will be issued with a letter of allocation which will supply information like: the plot size allocated to the applicant, the location, payment structure and amount paid
The payment structure are broken into four stages, which includes:
Land Charges
Registration and Conveyance Fee
Survey Fee
Capital Contribution Fee
Immediately the letter of allocation is issued to the applicant a 90 days deadline for payment of all relevant fees begin to count and failure to pay might lead to the Allottee forfeiting the allocated land. Even after the Allottee has completed the payment of the specified fees such an Allottee could still forfeit the land if he fails to develop the land within two years as it would be stated clearly in the letter of allocation.
Prime Scheme currently on allocation is: Abijo GRA.

General Schemes on allocation are: Oko-Orisan Waterfront-Epe, Mosafejo-Aradagun Residential Scheme-Badagry, Valleyview Residential and Industrial Scheme Agbowa, Agbowa Mixed Development Scheme-Agbowa and Epe Residential Scheme

OKO ORISAN WATERFRONT SCHEME,EPE LAGOS
The cost of buying a plot of land in Aradagun Mosafejo Mixed Development Scheme is put at N280, 000. 00. The cost is broken into, Land Charges: N20, 000. 00, Registration/ Conveyance Fees N5, 000. 00, Survey Fee: N75, 000. 00 and Capital Contribution: N180, 000. 00. Outside the scheme, plots of land from private owners in Aradagun Mosafejo and other developed parts of Badagry are already being sold for N800, 000. 00 to N1million.



For further inquiries please contact Tolu Sole at +234 702 801 6989 
Email tolulopesole@gmail.com

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