Ifitech And Associates Unveils Low Cost Housing Scheme | Independent Newspapers Limited
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Ifitech And Associates Unveils Low Cost Housing Scheme

Posted: Oct 25, 2016 at 2:05 am   /   by   /   comments (0)

Nkasiobi Oluikpe


Lagos – Developers of WestPoint Gardens and Solid Base Gardens, Ifitech and Associates Limited, has unveiled a housing scheme that will provide accommodation for the low income earners in Nigeria.
With a target to delivering 2,000 affordable housing units to the low income earners and youth across the country before the end of 2017, the company has entered into partnership with the governments of Lagos, Enugu and Imo states.
In Lagos, the firm currently has six schemes at Ibeju-Lekki, two schemes in Imo State and one scheme in Enugu. All these schemes come under the WestPoint Gardens and Solid Base Gardens Estate.
Ifeanyi Isaac, Managing Director, Ifitech and Associates Limited said, “Since we target prospective landlords in the lowest end of the property ladder or those that are considered to be low-income earners, prices of plots in our estates start from as low as N250, 000. Our most expensive estates are the ones in Ibeju-Lekki axis and other upcoming landmark projects in Lagos, which range from N1 million to N2.5 million.”
Isaac remarked that every member of the public is hereby being encouraged to acquire property at affordable prices irrespective of their level of income.
“We currently have over 2,000 subscribers and they have all started to build their own houses added to the ones the firm is building and selling to those who may not want to go through the rigours of starting from land ownership. The company’s lands are devoid of procedural requirements such as survey fee, inspection fee, allocation fee and agency fee. Our properties are fenced instantly for clients to prevent undue encroachment.
He stated that buyers would be given certain period upon which the land must be developed and in the event of lack of financial muscle to develop it, the company would take up the cleaning on behalf of the client in which case, the company would recoup such fees later.
“All our estates currently have perimeter fencing with good road networks, drainage systems, water, security, play areas for family and shopping centres. We are hoping to create estates that will function with a communal lifestyle, where people will live in peace and harmony irrespective of religion or ethnicity.”
Isaac advised that government should partner with competent real estate developers through Private Public Partnership (PPP) whereby the government provides the lands to developers at reduced prices as well as ensuring that houses are built into the property market at reduced prices.
“Government can also ensure that Mortgage Banks provide long-term payment facilities for the developed houses and ensure that the interest rate is at single digit. They should also give concessions in the areas of payments for land documentation.”