Metro Gov Ambode Inaugurates Low Cost Housing Scheme in Lagos

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LequteMan

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Governor Akinwumi Ambode has inaugurated the Rent-To-Own and Rental Housing policy in Lagos state.

The scheme aims to make low and middle level income earners house owners.

Twelve housing estates spread across the three senatorial districts had been dedicated to the implementation of the policy.

“The Rent-To-Own policy targets the low and medium income earners in both the formal and informal sectors where individuals are required to pay five per cent of the value of the housing unit as commitment fee and the balance is spread over 10 years," Commissioner for Housing, Mr. Gbolahan Lawal, said.

“This programme allows the tenant to live on the property while paying towards ownership at a fixed rent within the period of 10 years.

“On the Rental Housing policy, which is to further ensure housing accessibility and affordability in Lagos State, the tenants are however required to pay one month deposit.”
 

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