The beautiful sides of lakeside property

“The lake makes the place beautiful. It’s very comfortable living here. The lake is unique in Abuja. This is the only lake in Abuja and the neighbourhood is good.” These were the words of Ibrahim Bako who has lived in Lakeview Homes, Abuja for one year. His only worry is that poor electricity supply has […]

“The lake makes the place beautiful. It’s very comfortable living here. The lake is unique in Abuja. This is the only lake in Abuja and the neighbourhood is good.” These were the words of Ibrahim Bako who has lived in Lakeview Homes, Abuja for one year. His only worry is that poor electricity supply has pushed the cost of living in the estate higher.
A property built by the lakeside is beneficial because it attracts high premium to the developer and it provides comfort to those living in it. Living in a property by the lake is indeed, the desire of many.
In Abuja, Lakeview Homes developed by Urban Shelter Limited is one of the few property privileged to be by the lake. It is by the north-west end of the still-looking but precious Jabi Lake.
Lakeview Homes which has become one of the most sought-after estates in Abuja has phase one with 120 units of residential houses and eight shops. The second phase has 148 units and 16 shops. All this was sold before they were completed.
The houses include three-bedroom flats, four-bedroom terrace duplexes, four-bedroom semi-detached duplexes, five-bedroom semi-detached duplexes and five-bedroom detached-duplexes
The Facility Manager of the estate, Mr Garba Biba explained where Urban Shelter Limited got the idea of building the estate where it did: “We have an estate in Lagos close to a lake like this. So we have idea of what having a home by the lake is. Many prefer to live close to the lake for aesthetics and comfort.
“When we finished phase one, being close to the lake, many people were attracted to it. When we started phase two, before we could finish construction, all the units were sold.” Upon purchase of a unit, the buyer is issued allocation papers while the estate firm pursues the certificate with relevant government body.
A three-bedroom flat is N45 million. A four-bedroom terrace duplex is around N70 million while the four-bedroom semi detached is N95 million. The five-bedroom semi-detached is N110 million and the five -bedroom detached is N140 million.
According to the facility manager, many bought the houses for rent so they have rented them out. The three-bedroom flat goes for N2.5 million per annum while the four-bedroom terrace is N3.5 million per annum. The four-bedroom semi-detached flat is N4.5 million and the five-bedroom semi-detached duplex is N5 million. The five-bedroom detached duplex is N5.5 million.
The most interesting thing about this place is all the streets are asphalt covered just as the plots areas are paved with interlocking tiles. Red burnt bricks adorn the houses giving them mixed wall colour of red and cream.
There is playground of about 3000sqm. Amenities are not personal – even internet and CCTV services are general. Plans are underway to have a common cable TV service for the whole estate said Biba.
There is a standby generator for power supply. Water is supplied 24 hours. Cleaners are always on hand to mop up dirt and waste. Waste evacuators are on ground. Security is guaranteed. You cannot come into this place without permission. All houses are linked with intercom for link with residents in case a visitor comes. The place is serene, away from the hustle and bustle of the city.
But the estate is not without problems. The facility manger explained, “The main challenge we face is power failure. For example, our monthly budget for diesel is N1.2 million but in March, we spent about N4.6 million. This April, we’ve spent N4.2 million on diesel. In just two months, we’ve spent what should go for six months. It’s really affecting management.”
Anyhow, there is good understanding between management and residents. There is a resident committee that works with the facility manager. Meetings are held and decisions are taken together so there is harmony.
Because of this common understanding, each house pays its service charge without trouble. Those in the three-bedroom flats pay N300,000 per annum; four-bedroom terrace pay N400,000; four-bedroom semi-detached N450,000; five-bedroom semi-detached duplex N480,000; five-bedroom detached N500,000.