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Own a home at Egan/Igando Millennium Housing Scheme with N250,000
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A block of 2-bedroom flats at the estate
In a country like ours, where housing has become a luxury rather than a need, homeownership goes beyond adding value to the human person.
As a low income earner, being able to buy a home in a country where developers, for profit motives nonetheless, target only the rich, is a rare privilege.
This privilege is what the Lagos Building Investment Company Limited (LBIC) (mortgage bankers) in conjunction with the Lagos State Ministry of Housing is offering the low income earners in the state via its mass housing project at Egan/Igando community in the state.
The N3 billion Egan/Igando Millennium Housing Scheme is a joint venture in which the state government provided the land and design of the housing scheme, while LBIC is providing the funds.
Assistant General Manager (Finance & Systems) of LBIC, Bayo Adeogun, told Business Day that the project, sitting on 17 hectares of land, is a mixed but solid development of 1,350 housing units segmented into three phases of 450 units each.
The first phase consisting of 2-bedroom (Type A), 2-bedroom (Type B), 2-bedroom (Type C) and 3-bedroom (Type D) housing units, he disclosed, would be delivered in September this year.
Type A 2-bedroom flat, according to him, goes for N2.5 million, Type B 2-bedroom goes for N2.8 million, Type C 2-bedroom goes for N3.5 million while Type D 3-bedroom goes for N5 million, adding that each flat has standard bedrooms and family lounge.
To take possession of these houses, Adeogun said: “You only need to obtain a N2, 500 form and fill after which you pay a deposit of 10 percent of the value of the house to own any of these flats. The proviso, however, is that you cannot collect your key until you finish payment”.
He added that “subsequent payments depends on your capability, but it must not be bellow 10 percent”, pointing out that mortgage facilities could be arranged for certain category of buyers.
Apart from affordability, Egan/Igando Housing Scheme’s highpoint is its location. The location of the project in the quiet neighbourhood of Egan/Igando Road, close to Lagos State University (LASU), ASPAMDA Shopping Complex and Alaba International Market makes it a good decision for low and medium income residential development.
This neighbourhood is quite accessible as it is flanked by Badagry Expressway on the northern axis and Isheri-Idimu Road on the western axis. It is also close to other housing estates such as Gowon Housing Estate Ipaja, Ibesan Low Cost Housing Estate, Iba Housing Estate, Good Home Housing Estate, among others.
Adeogun disclosed that facilities at the estate have been planned to meet the common needs and aspirations of prospective residents.
These will include a commercial centre, potable water, police post, estate shops, adequate parking spaces, maintenance/estate office, good road network, perimeter fencing and electric power supply.
He added that such infrastructural facilities as water, roads and electricity are being developed alongside the housing units, pointing out that whereas roads are being handled by Guffani/Morin Investment Limited and electricity by JKN Nigeria Limited, water is being drilled by Unilinks Nigeria Limited.
This privilege is what the Lagos Building Investment Company Limited (LBIC) (mortgage bankers) in conjunction with the Lagos State Ministry of Housing is offering the low income earners in the state via its mass housing project at Egan/Igando community in the state.
The N3 billion Egan/Igando Millennium Housing Scheme is a joint venture in which the state government provided the land and design of the housing scheme, while LBIC is providing the funds.
Assistant General Manager (Finance & Systems) of LBIC, Bayo Adeogun, told Business Day that the project, sitting on 17 hectares of land, is a mixed but solid development of 1,350 housing units segmented into three phases of 450 units each.
The first phase consisting of 2-bedroom (Type A), 2-bedroom (Type B), 2-bedroom (Type C) and 3-bedroom (Type D) housing units, he disclosed, would be delivered in September this year.
Type A 2-bedroom flat, according to him, goes for N2.5 million, Type B 2-bedroom goes for N2.8 million, Type C 2-bedroom goes for N3.5 million while Type D 3-bedroom goes for N5 million, adding that each flat has standard bedrooms and family lounge.
To take possession of these houses, Adeogun said: “You only need to obtain a N2, 500 form and fill after which you pay a deposit of 10 percent of the value of the house to own any of these flats. The proviso, however, is that you cannot collect your key until you finish payment”.
He added that “subsequent payments depends on your capability, but it must not be bellow 10 percent”, pointing out that mortgage facilities could be arranged for certain category of buyers.
Apart from affordability, Egan/Igando Housing Scheme’s highpoint is its location. The location of the project in the quiet neighbourhood of Egan/Igando Road, close to Lagos State University (LASU), ASPAMDA Shopping Complex and Alaba International Market makes it a good decision for low and medium income residential development.
This neighbourhood is quite accessible as it is flanked by Badagry Expressway on the northern axis and Isheri-Idimu Road on the western axis. It is also close to other housing estates such as Gowon Housing Estate Ipaja, Ibesan Low Cost Housing Estate, Iba Housing Estate, Good Home Housing Estate, among others.
Adeogun disclosed that facilities at the estate have been planned to meet the common needs and aspirations of prospective residents.
These will include a commercial centre, potable water, police post, estate shops, adequate parking spaces, maintenance/estate office, good road network, perimeter fencing and electric power supply.
He added that such infrastructural facilities as water, roads and electricity are being developed alongside the housing units, pointing out that whereas roads are being handled by Guffani/Morin Investment Limited and electricity by JKN Nigeria Limited, water is being drilled by Unilinks Nigeria Limited.
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