I have been paying rent year after year in Lagos mainland. I was satisfied and happy with it until I visited my friend in his own house.My friend is a secondary school teacher. He told me the norm- pay one year rent and pack to your own house the following year.

I thought it was a joke until he asked me to buy a plot of land in his area for a mere 250k. I paid without delay since its far below my one year rent in Lagos mainland. My friend acquired the land. The land is being developed. I will pack in soon.

Many people live in Lagos, pay rent for as much as 500k, not knowing that same amoumt can buy plots of land in Ikorodu. They're just unaware of what their money can do for them.

kindly add your comments. don't just view. Also, can it make front page so that more people will read and learn

Plot in Ikorodu for 250k? R u sure?

aduhube: I have been paying rent year after year in Lagos mainland. I was satisfied and happy with it until I visited my friend in his own house.My friend is a secondary school teacher. He told me the norm- pay one year rent and pack to your own house the following year.

I thought it was a joke until he asked me to buy a plot of land in his area for a mere 250k. I paid without delay since its far below my one year rent in Lagos mainland. My friend acquired the land. The land is being developed. I will pack in soon.

Many people live in Lagos, pay rent for as much as 500k, not knowing that same amoumt can buy plots of land in Ikorodu. They're just unaware of what their money can do for them.

I think people with the means should be encouraged to invest in real estate and not necessarily because they want to live in their own house.

You can live in your own house at Ikorodu, and you will be worse off than a tenant at Surulere in terms of cost of commuting from Ikorodu to work on the Island.

I have an income generating property at Ajah and Ibafo, with the third one nearing completion at Agbara, but I am still a renter in Lagos Mainland because of the distance from my residence to place of work and business.


It is not smart for anybody to pay a rent of 500k without having a plan to invest a minimum of 250k in real estate.

mercylicious: Plot in Ikorodu for 250k? R u sure?

It depends on the part of Ikorodu, but can get land of 250k in Shagamu, Ijebu Ode and some parts of Epe.

manie:



I think people with the means should be encouraged to invest in real estate and not necessarily because they want to live in their own house.

You can live in your own house at Ikorodu, and you will be worse off than a tenant at Surulere in terms of cost of communing from Ikorodu to work on the Island.

I have an income generating property at Ajah and Ibafo, with the third one nearing completion at Agbara, but I am still a renter in Lagos Mainland because of the distance from my residence to place of work and business.


It is not smart for anybody to pay a rent of 500k without having a plan to invest a minimum of 250k in real estate.

With the expansion of Ikorodu road going on presently, it takes about 10 minutes to drive from Ketu to Ikorodu.

aduhube:
With the expansion of Ikorodu road going on presently, it takes about 10 minutes to drive from Ketu to Ikorodu.

What part of Ikorodu are you talking about? The part of Ikorodu where you can spend 10 minutes to Ketu are areas like Agric, Idi_Iroko, Ogolonto, Ita Elewa, Ebute, but you can not get a plot of land for 250k.

Most people buy land at Ori Okuta, Odongunyan, Ogijo, Igbogbo, Ijede, Igbokuta, Imota, Isiwu etc are these places are very more than 10 minutes drive to Ikorodu Town proper.

All the same this should be not discourage people from investing in real estate, but I can not say because I have a house in Ikorodu I will then relocate to that axis of Lagos. I do not see such a move as a smart one, but I can rent out the house to people who work or transact their business at Ikorodu eg Dangote Pasta, Nigerian Port Authority, Egbin Thermal Station, PZ Industries, Chikki noodles, Lagos Polytechnic, Caleb University, Pipeline Product Marketing Company, Ragolis water, Plastic companies in Ikorodu, Banks in Ikorodu etc.

@OP don't get it wrong, there's no land in Ikorodu for N250. I'm a resident and have firsthand information. I live around Igbo oluwo axis, church b/stop and a plot of land there is 6-7 Million naira. Recently i bought half plot of land around Ewunren for 1.5M. The least you can get for now is between 500k and 800k and i bet it will definitely be around sagamu, Ogun state. Properties are becoming expensive in Ikorodu; the earlier the better, one cannot live in a rented apartment forever. i move in around 2008 due to economic situation and cost of rents in surulere, it took me one year to acclimatized, i was offered a plot of land for N2M and i vowed never to erect any structure in Ikorodu due to the obsolete lifestyle of the people, but now things have changed, same land i was offered was bought by another young man and recently i was informed he sold it for 4.5M

FrontPageLawyer: @OP don't get it wrong, there's no land in Ikorodu for N250. I'm a resident and have firsthand information. I live around Igbo oluwo axis, church b/stop and a plot of land there is 6-7 Million naira. Recently i bought half plot of land around Ewunren for 1.5M. The least you can get for now is between 500k and 800k and i bet it will definitely be around sagamu, Ogun state. Properties are becoming expensive in Ikorodu; the earlier the better, one cannot live in a rented apartment forever. i move in around 2008 due to economic situation and cost of rents in surulere, it took me one year to acclimatized, i was offered a plot of land for N2M and i vowed never to erect any structure in Ikorodu due to the obsolete lifestyle of the people, but now things have changed, same land i was offered was bought by another young man and recently i was informed he sold it for 4.5M

Good for you, where do you work? My brother equally moved to his house in Ikorodu, only for him to pack out to rent another apartment at Ajao Estate off Airport Road Lagos. He has rented out his house to a manager at Dangote Pasta.

Government needs to invest on good roads and rail system. If we have good transportation system in Nigeria, people will not mind to live in Ibadan and work in Lagos.

@mania. pls. what part of epe do u say one can get a plot of land 4 250k? and what is d distance btw d area and d lekki free trade zone area?

henrimoto: @mania. pls. what part of epe do u say one can get a plot of land 4 250k? and what is d distance btw d area and d lekki free trade zone area?

Let us say an average of 250k to 400k, but you guys need to buy acres of land as a co-operative society and then divide the land among yourselves. But as an individual you should be able to get at 500k.

Plots of land can be bought at Owode, Sagamu for between 250k and 300k. Nestle plant in not far from Owode, while Honeywell Flour just got land at Sagamu interchange for the construction of a manufacturing plant. Owode is between 15 to 20 minutes drive to Sagamu.

Oga Manie, u r very knowledgeable in real estate investment in lag/ west. I already have 2 here in the east,d next will be in west.I'll be needing ur help/assistance when am ready and able to do that, hopefully in 2 years time (if christ doesn't come).

mercylicious: Oga Manie, u r very knowledgeable in real estate investment in lag/ west. I already have 2 here in the east,d next will be in west.I'll be needing ur help/assistance when am ready and able to do that, hopefully in 2 years time (if christ doesn't come).

Never knew you are based in the East, I thought you are based in Lagos.

[quote author=manie]


simplesoul05@gmail.com we need to tlk MANIE

FrontPageLawyer: @OP don't get it wrong, there's no land in Ikorodu for N250. I'm a resident and have firsthand information. I live around Igbo oluwo axis, church b/stop and a plot of land there is 6-7 Million naira. Recently i bought half plot of land around Ewunren for 1.5M. The least you can get for now is between 500k and 800k and i bet it will definitely be around sagamu, Ogun state. Properties are becoming expensive in Ikorodu; the earlier the better, one cannot live in a rented apartment forever. i move in around 2008 due to economic situation and cost of rents in surulere, it took me one year to acclimatized, i was offered a plot of land for N2M and i vowed never to erect any structure in Ikorodu due to the obsolete lifestyle of the people, but now things have changed, same land i was offered was bought by another young man and recently i was informed he sold it for 4.5M

if you get one plot of land through an agent, who may have gotten it from another agent, then the price will be high. The secret is to get land from the owner.

manie:



I think people with the means should be encouraged to invest in real estate and not necessarily because they want to live in their own house.

You can live in your own house at Ikorodu, and you will be worse off than a tenant at Surulere in terms of cost of commuting from Ikorodu to work on the Island.

I have an income generating property at Ajah and Ibafo, with the third one nearing completion at Agbara, but I am still a renter in Lagos Mainland because of the distance from my residence to place of work and business.


It is not smart for anybody to pay a rent of 500k without having a plan to invest a minimum of 250k in real estate.

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henrimoto: @mania. pls. what part of epe do u say one can get a plot of land 4 250k? and what is d distance btw d area and d lekki free trade zone area?

Most people don't seem to talk about property in the badagry axis....talking about agbara,okoafo and the likes.Are they not lucrative?

are you selling land in ikorodu?

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