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AVAILABLE PROPERTIES FOR STAFF UNDER THE HOME-OWNERSHIP SCHEME
At its meeting on Monday, 13th August, 2007, the Management Committee approved that the available properties for staff under the home-ownership scheme be published in the University Official bulletin for the information of every member of staff.
Interested members of staff are hereby advised to contact the Chairman, Staff Welfare Committee on 8547288 or Ms. Adegoroye on Telephone 8547707 for the application forms and further details.
AVAILABLE PROPERTIES READY FOR PURCHASE ARE AS FOLLOWS:
S/N |
Description |
Location |
Price |
Vendor and Conditions |
|
EGAN/IGANDO MILLENNIUM HOUSING SCHEME |
Vendor: Lagos State Ministry of Housing, Lagos Building Investment Company AND Resort Savings and Loans Limited.
Type: Blocks of flats on expansive estate with all infrastructural facilities, road network shopping complex, etc.
Delivery date: Dec. 2007
Financial Commitment before allocation |
1 |
Type A
2-Bedroom Flat |
EGAN/IGANDO |
N2.5M |
2 |
Type B
2 Bedroom Flat |
EGAN/IGANDO |
N2.8M |
3 |
Type C
2-Bedroom Flat |
EGAN/IGANDO |
N3.5M |
4 |
Type D
3 Bedroom Flat |
EGAN/IGANDO |
N5.0M |
|
LAGOS STATE MINISTRY OF HOUSING |
|
5 |
2-Bedroom Flat |
SHASHA |
N2.5M |
Vendor: Lagos State Ministry of Housing.
Type: Blocks of flats infrastructural facilities in place.
Delivery date: Already selling. Limited units. |
6 |
2-Bedroom Flat |
OKO-OBA |
N2.5M |
7 |
3-Bedroom Flat |
SUNSHINE ESTATE III,
OKO-OBA |
N7M |
8 |
3-Bedroom Executive Flat |
ABRAHAM ADESANYA ESTATE, AJA. |
N12M |
|
FHA DIAMOND ESTATE, ISHERI OLOFIN |
|
9 |
3-Bedroom detached bungalow |
ISHERI/LASU ROAD |
N4.8M
(Until
mid-Aug.) |
Vendor: DIYA-FATIMILEHIN & COMPANY.
Detached bungalows, located on vast estate with all infrastructural facilities already on ground.
Houses ready for delivery. |
|
AHCON ESTATES LIMITED |
|
10 |
3-Bedroom detached bungalow |
AGBARA |
N4.75M |
Vendor: AHCON ESTATES LIMITED.
Estate Financed directly by UBA. Detached houses.
First 15 units for LASU available by end of September, at no financial commitments until delivery.
Other units to be ready for delivery in Dec. 2007, only on order. Forms free. |
- Options may carry expected additional costs (application fee, agency fee, survey fee, etc.) and estate regulations.
AVAILABLE PLOTS OF LAND FOR PURCHASE FROM LAGOS STATE GOVERNMENT:
S/N |
LOCATION |
STAFF PRICE |
1. |
ROSE GARDEN, IJANIKIN |
N211,000/PLOT |
2. |
ISHERI NORTH |
N2.04M/PLOT |
3. |
AYOBO |
N187,000/PLOT |
4. |
IPAJA |
N85,000/PLOT |
5. |
MOSAFEJO/ARADAGUN |
N208,000/PLOT |
6. |
GREEN GATE SCHEME |
N160,000/PLOT |
7. |
OWORONSHOKI RESIDENTIAL SCHEME |
N1,064,000/PLOT |
8. |
EPE RESIDENTIAL SCHEME |
N160,000/PLOT |
9. |
OGUDU GARDEN VALLEY |
N2,486,800/PLOT |
10. |
OGUDU PHASE II EXTENSION |
N 2,186,800/PLOT |
MORTGAGE LOAN FACILITIES
Please recall that Management has approved the participation of staff in the UBA Mortgage Loan facilities of N1 billion being extended to members of staff of the University published in the Official bulletin ref. INFO/PR/LASU/298 dated 9th July, 2007.
The following should be noted by any member of staff who is interested in participating in the facilities:
- that the pay back period should be tailored towards the number of years that the staff has to spend in the service of the University, in view of the Pension Act. This is however limited to a maximum of 20 years and 10 years for purchase of a house or land respectively.
- that the University or Staff Welfare Committee will identify housing estate(s) to reduce the added cost to the staff e.g. valuation report fees, legal search fees and bill of quantities fees. It will also reduce premium on insurance. Staff can however opt and are, indeed, free to locate other properties they may be interested in, outside any arrangement by the Staff Welfare Committee.
- that equity contribution of 20% by staff should be considered e.g. for a property cost of N3.5 million, the staff will have to pay the sum of N700,000.00 in order to qualify for the facilities.
- that the ability of staff to meet the risk calling acceptable should be taken into consideration. According to the regulations, repayment should not be more than one third of the take home pay of the staff.
- that the monthly repayment amount is equal throughout the live of the loan.
Interested members of staff should liaise with the Deputy Bursar Operations, (Mr. J. A. Lasisi) for further clarifications.
UNIVERSITY MANAGEMENT
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