Real estate investors are subjected to multiple taxations, the taxes and levies paid by them include income tax, building plan approval levy, development levy, property tax, in some cases, renovation tax. There are plans by the Government to increase taxes and levy paid. For example the new land surveyor plan fee that has been drastically sky rocketed in Lagos State. Ikorodu, Epe, Badagry Ojo and Ajeromi Ifelodun local government which before now was N120, 000 have been increased to N350, 000.

In Lagos Island, Eti- Osa, Ikeja and Apapa, which is N300, 000 has been increased to N1million. Somolu, Alimoso, Mushin, Agege, Ibeju Lekki, Lagos Mainland, Amuwo Odofin Local Government, formerly N180, 000 has been increased to N650, 000. This price hike, no doubt has threatened the hopes of affordable construction cost and..... http://www.ibejulekkilawyer.com/5-major-challang…al-estate-sector/