Login Register
feel free to call 09056000005

FG urged to simplify land documentation

A real estate firm, Gestpoint Nigeria Limited, has implored the Federal Government to simplify the process of land documentation as a measure to enhance housing construction and home ownership across the country. The Managing Director of Gestpoint Nigeria Limited, Dr Ebenezer Akinrinade, made the call in a recent interview with journalists in Lagos.
 
According to Akinrinade, the current reality in the sector is that the process of getting land documented is cumbersome and time-consuming across the country, adding that the development impedes investors from Nigeria’s real estate sector.
He said, “The government, especially at the federal level, should consider setting up special funds for operators and providing grant extensions for would-be investors to encourage more developers to embark on real estate development, thereby solving the issue of housing shortfalls.”
 
Real Estate Photos, Download The BEST Free Real Estate Stock ...
 
He posited that if the government could give every other sector grants to do one or two projects, the real estate sector would equally need some funds. “If you are going to banks to collect loans, the interest on the loan alone will not encourage your business to grow. The government should look into that and we can have common grant templates,”   Akinrinade stated. 
 
He charged Nigerians to take advantage of the firm’s projects in Champions Court, Emerald Estate Phase I and II, Gold City Estates in Epe Lagos, Glamour Estate in Oshiwo, Ogun State, and Emerald Estate Moniya, Ibadan.
Akinrinade said, “The main target is affordable products and we aim to serve the lower income earners and empower the youths through home ownership. “The firm allows subscribers to spread payment from three to one-year payment plans to be able to afford homes. Affordable homes in the sense that we have a product at N1.2m in Ibadan and subscribers can spread payment.”
He advised developers to ensure property offerings were well documented for transparency and confidence in the sector and assured that due diligence was enforced in terms of documentation regarding titles and transactions with its properties well registered with the government.
 
Akinrinade further said Nigerians, investors, and developers must endeavour to prioritise knowing the status of lands before investing, explaining that the ‘status of land’ would reveal the plans of the government on any particular land, either for residential, commercial, industrial, or agricultural, and safe investors from committing funds to the wrong cause.
 
“Irrespective of the economic challenges, be it inflation and others Nigerians might be facing now, the best thing is to save through investment in landed property because if everything else fails, real estate will never fail.
“Daily, real estate appreciates. On the challenge of land grabbing, investors must try to know the sources of the land they are investing in and whether there is a dispute on the land and trace the land to the government because, on every land, there is a connection between the government and the land, “Akinrinade noted.
Source: PunchNG

Quick Links:

Similar Topics

US Election Race Intensifies: How Results Could Impact Nigeria’s Real Estate Market As the...

a month ago Read More

Equatorial Guinea Official Baltasar Engonga Ebang’s Video Sparks Controversy In recent days,...

a month ago Read More

Nigeria’s digital real estate company, Sytemap, has raised concerns over the ongoing trust...

2 months ago Read More

Governor Babajide Sanwo-Olu of Lagos State has urged for more investment to address the persistent...

2 months ago Read More

Housing sector stakeholders have raised concerns that the rising interest rates in the country are...

2 months ago Read More

Lagos State Governor, Babajide Sanwo-Olu, has emphasized the significance of innovation,...

2 months ago Read More

The Association of Private Practicing Surveyors of Nigeria (APPSN), a subgroup of the Nigerian...

2 months ago Read More

Nigeria has been admitted into WorldSkills International, marking a historic milestone in the...

3 months ago Read More

The Federal Government has launched the Ministry of Finance Incorporated Real Estate Investment...

3 months ago Read More

The National Board for Technical Education has inaugurated the Sector Skill Council for...

3 months ago Read More

The Environmental Defense Fund has partnered with Africa Practice to combat climate change in...

3 months ago Read More

The Minister of Housing and Urban Development, Ahmed Dangiwa, has reiterated the crucial role of...

3 months ago Read More

The Real Estate Developers Association of Nigeria has announced initiatives aimed at enhancing...

3 months ago Read More

The Global Environment Facility has approved $3.28m to tackle land degradation in Kebbi State under...

3 months ago Read More

The commercial real estate market is currently grappling with several major challenges, including...

3 months ago Read More

Real estate development is a key driver of economic growth in any region, and Africa is no...

3 months ago Read More

The Federal Government has signed a Memorandum of Understanding with Shelter Afrique...

3 months ago Read More

The Federal Government has issued a 90-day deadline for subscribers of the National Housing...

3 months ago Read More

The Minister of Housing and Urban Development, Ahmed Dangiwa, has disclosed that plans are underway...

4 months ago Read More

A real estate firm, Gestpoint Nigeria Limited, has implored the Federal Government to simplify the...

4 months ago Read More