As Nigeria’s housing deficit up to 17 million, there are fears that this figure, which has been bandied about for years may not be true. Ascertaining the actual figure will require empirical checks or survey, say experts.
Towards this end, an estate firm, Chattel Realty and Investment Company, has introduced a land scheme to eradicate land ownership problems in Lagos State.
The scheme, on a site and service basis, with access roads, drainage, recreation centre and so on, would see more Nigerians owning land with ease under the payment model. It will avail the public the opportunity to pay N2, 500 for land purchased weekly if they so desire. One of the schemes with which the firm intends to achieve its plan is the Palms Villa Estate in Ibeju-Lekki and Ikorodu.
Aside the 10 per cent discount offer on all land payment plans, the company is spreading payment options for purchased land up to four years. This, it says, is to give all low income earners an opportunity to be landlords in Lagos. For instance, to own a plot of land at Chattel Reality’s Palms Villa Estate in Ikorodu, an intending buyer can pay as low as N22,000 or N83,000 monthly for land in the Palms Villa Estate in Ibeju Lekki.
Its Managing Director, Mr. Ifeanyi Okafor, explained that such initiative is one of the company’s strategies to get more Nigerians to invest in properties and own their own houses. “We must as a matter of urgency always look for incentives to encourage people to own their homes. Things are pretty difficult at the moment and many people might not be able to afford a huge sum of money to purchase a land not to talk of building a house. So for us, we are more interested in empowering people and helping them to achieve their dreams of becoming a landlord,” he explained.
Okafor further disclosed that its site and service is a strategic plan and that in three years, the company would begin housing development. In five years, he said his firm would have provided 20, 000 Nigerians with opportunity to own their property.
Chattel Realty and Investment Company Limited is an innovative real estate development company that engages in the development of master-planned housing estates. The company’s objective is to provide cutting-edge real estate solutions to the huge Nigerian real estate market, which yearns for affordable housing as well as other real estate investment products.
Source: The Nation