Sisi Eko May 24 EazyNews

A very good day to you, I believe your day is going very well, I stumbled upon this information today and decided to share it, I believe this is good news and will benefit everyone one way or another.

The prayers of investors in landed property in Lagos, who have been complaining of the high cost of perfecting transaction, may soon be answered as the state government is considering a drastic reduction in the cost of Governor’s Consent to subsequent transactions.

If the proposal of the Lands Bureau is endorsed by the state Executive Council led by Governor Babatunde Fashola, anybody who buys a landed property in the state will only need to pay to the government between 2% and 5% of the assessed value of the property instead of the current 13% to register it in his/her name.

Due to agitations by property merchants and most residents in the state, the government has been seeking ways of reducing transaction costs for landed properties, with the first attempt made by the immediate past governor, Bola Tinubu, who cut the consent fee from 30% of the transactional value to 15%.

This change is expected to bring the percentage chargeable to an internationally acceptable standard without any adverse effect on revenue, it will enhance transparency in all land transactions and assessment and eliminate delay and corruption.

To read more click on this link: http://www.eazyhc.com/eazyhomeblog/cost-of-governors-consent-to-be-reduced-in-lagos