HOME BUYERS SERIES: WHAT YOUR NHF CONTRIBUTION CAN GET YOU

The National Housing Fund (NHF) provides one-time access to funds of up to N15 million at an interest rate of 6% per annum, payable over 30 years to committed and regular contributors. With the ever-growing demand for housing at lower price points, there is keen interest to know which developments are available to NHF contributors. Developers are also aware of this ever-growing demand for lower priced properties and have become more innovative with their developments whilst providing the comfort, style and efficiency homeowners desire. This article is the first in our continuous series on what is available for first time homeowners and families with lower budgets.

Cocoon Atlantic Estate, a project by Cocoon Homes, is a 5-hectare project in Sangotedo, Lekki with a plan for 383 homes comprising of 2-bedroom flats, 3-bedroom flats and 3-bedroom terrace houses. Sangotedo is in the greater Lekki area and has experienced significant growth in recent times. Novare Lekki Mall, Lagos Business School and Alpha beach in the neighbourhood, are expected to continue to increase interest in the area. With about 45minutes commute time to Victoria Island in off peak hours, the LCC conversion of the roundabouts to intersections are expected to allow better flow of traffic and decrease commute time during peak hours.

Cocoon Atlantic Estate promises to have good water supply and sewage treatment plant, backup power supply, landscaped green areas and playgrounds, two parking spaces per home, commercial spaces for a supermarket, conveniences stores and other services, clubhouse with a fitness centre, swimming pool, other lifestyle amenities and professionally managed facilities. They have also built and tastefully furnished 3-bedroom terrace show homes to give the full experience of owning a property there.

As at the time of writing this article, the developer’s goal is to keep house prices at a maximum of N39million. The 2-bedroom flats start from N21million, 3-bedroom flats from N29million while the 3-bedroom terraces start from N36 million.
Cocoon Homes is offering staff of reputable organizations, through its Enhanced Payment Scheme, a unique opportunity to access their NHF towards buying two-bedroom and three-bedroom flats in Cocoon Atlantic. This opportunity offers Subscribers greater ease of payment and more comfort of delivery.
Jide Taiwo & Co has the mandate to sell the various properties in this estate. Contact us for more information

Olawunmi Olashore MRICS

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