Experts within the real estate industry expect the value of property in Surulere, Lagos to increase following the delivery of some major development schemes by the Lagos authorities. These projects include the Gbaja Shopping, Mall, the upgraded Adeniran Ogunsanya Street and Adeniran Ogunsanya Shopping Mall, amongst others.
According to the governor, the development of the property had transformed what was formerly a scruffy part of town to a beautiful environment even as the project, which was completed in the stipulated time, is in consonance with the trend of infrastructural development being witnessed all over the state.
Developers suggest that these development give residential properties better attraction which is evident in the increase in residential property price off Bode Thomas, Adeniran Ogunsanya and Ogunlana Drive from between ₦700,000 - ₦900,000 to ₦900,000 - ₦1.2 million.
Commenting on the development, immediate past President, Nigerian Institution of Estate Surveyors and Valuers (NIESV), Chief Emeka Onuorah, is of the view that the new developments in Surulere will impact positively on property values in the neighbourhood.
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