• Wednesday, July 24, 2024
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Hybrid Landtech redefines property acquisition with direct occupancy certificate

Hybrid Landtech redefines property acquisition with direct occupancy certificate

To address the bottlenecks in obtaining property title in Nigeria, Hybrid Landtech has launched an initiative that provides a direct certificate of occupancy (C-of-O) issued by the Lagos state government to buyers of its housing properties.

Hybrid Landtech, developers of Havens Cottage in a statement, said the initiative of a direct C of O is the first of its kind in the Epe axis, which is traditionally designated and known for farming and fishing.

“There is expected to be continued strong government influence in Epe and the rest of Lagos. For context, the state government acquired several hundreds of hectares of land in areas of Epe like Ketu, Sala, Aleke, Igbodu, Molajoye and more in the late 1900s for food production,” Oyeyemi Olodun, an engineer and chief executive of Hybrid Landtech said.

“Much of this land is now being marketed to the public for residential and commercial uses, which is expected, given the state’s housing deficit of over three million units,” he explained.

Read also: Why issuance of C of O is often delayed in Nigeria – Doherty

“However, at Hybrid Landtech, we believe lands should not be converted for residential or commercial use without proper government approval. This is also the position of the Real Estate Development Association of Nigeria (REDAN), which Hybrid is associated with,” Olodun noted.

According to him, Havens Cottage’s direct C-of-O offering aims to streamline the process and provide buyers with enhanced security for their investments, adding that it is a significant development for the Epe property market.

He noted that the organisation’s consultants conducted thorough due diligence to ensure a secured residential property within the zone, enabling the business to acquire a residential certificate of occupancy in its name.

“This makes Hybrid Landtech the first developer to achieve this feat. By providing a direct C-of-O with each plot, we offer buyers the peace of mind and legal protection they deserve,” he added.

Epe, located on the north side of the Lekki Lagoon, has witnessed significant growth in recent years due to its proximity to Lagos and ongoing infrastructure development.

Havens Cottage’s location in the Noforija area of the town reflects this trend, boasting easy access to the Lekki-Epe Expressway, top educational institutions like Lagos State University of Education, St. Augustine University, and other upcoming developments.

Experts say providing direct C-of-O could further accelerate the growth of Lagos State’s real estate. Streamlining the land ownership process, as has been done with the launch of the electronic Geographic Information System (e-GIS) portal can attract more investors seeking secure investment opportunities in a promising market.