“Form is Free”: Minister Updates Procedure to Buy Houses, Invites Nigerians Home, Abroad
- The federal ministry of work and housing has commenced the process of evaluating home sales
- The ministry invites Nigerians, home and abroad, to apply under the National Housing Program
- It stated that Nigerians living abroad can get the form from the Nigerians in Diaspora Commission's office
Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
The federal ministry of works and housing is inviting interested Nigerians living in the country and abroad to apply as it has commenced the process of evaluating house sales under the National Housing Program.
Source: UGC
The ministry's permanent secretary, M. Mamma, revealed this in a statement.
Need to complete interest form
According to the statement, part of the new sales process is the completion of an expression of interest form.
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It noted:
“Interested subscribers who were offered a provisional offer of allocation that elapsed between 10th March 2022 and 18th October 2023 are free to reapply by completing the Expression of Interest Form.”
The statement also pointed out that all interested subscribers are to get their Expression of Interest forms for free from the Federal Controllers of Housing and Urban Development office in each of the 36 federal states and the Federal Capital Territory.
It further stated that Nigerians living abroad who would like to subscribe to the residences should get their Expression of Interest Forms from the office of the Chairman/CEO of Nigerians in Diaspora Commission (NiDCOM).
Cross subsidies in housing projects
Earlier, the Federal Ministry of Housing and Urban Development announced intentions to implement a new program known as cross-subsidies in housing projects.
After evaluating prior attempts to reduce deficits, the initiative aimed to ensure the inclusivity and affordability of homes in the nation.
Market-rate flats are priced more under the system, typically reflecting the actual cost of construction and developer profit margins. Projects are constructed with a mix of units catering to diverse income levels.
A specific proportion of units are designated affordable housing within the same complex. These apartments are offered for sale or rental at prices that are far less than the going rate.
The profits from the market-rate units cover affordable units' building and upkeep expenses. Families with lower incomes can now afford housing thanks to this subsidy.
"Give us names": FG announces plan to collect triple rent from landlords of unoccupied houses
In related news, Legit.ng reported that the federal government would ask for triple ground rent on estates and houses left unoccupied after three months.
Ground rent is a tax charged and collected by the government on land (both developed or undeveloped).
Ahmed Dangiwa, the minister of housing and urban development, disclosed this after a tour of three housing projects in Abuja.
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Source: Legit.ng
