Developer decry cost, cumbersomeness of land documentation,
An upscale player in the real estate sector in the South East and Lagos area has called on the government to check the high cost of land acquisition and documentation.
He said many people are not able to live in proper and adequate houses because the cost and processes that go into land matters are enormous.
He lamented that the same challenge encountered in Lagos where land is a highly-priced resource and all the encumbrances that discourage housing development is also present in the Southeast area of the nation.
He said a typical developer is encumbered by challenges in land acquisition and documentation. CEO, ESSO Properties Limited, Smith Sosochukwu Ezenagu who plays largely in Anambra, Enugu and Lagos state in the upscale sector of housing development says the panacea for massive housing development for all strata of the populace is the liberisation of the documentation and the reduction on charges on land procurement, registration and associated fees. Some of his prime estates in Awka are Berry Prime and Sunray estate.
He spoke on the sideline of the award of Patriotic Personality and Corporate Investments Leadership Category by the League of Africa Development Students (LEADS Africa) in Lagos for the ingenuity and creativity he has brought into the real sector.
Ezenagu who plays in the GRA areas of Awka and Enugu the Anambra and Enugu state capitals and the Lekki area in an interview with The Nation Lagos said the long gestation period for land documentation for developers and other operators in the sector has created an avenue for dubious activities and scams with several people defrauded in the process.
Government I think our brother is right and you guys need to do something.
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