estateprofits:
I was recently talking to a friend about where and where not to invest when it comes to properties and I mentioned Ibeju-lekki the new smartcity and his response was “why Ibeju-lekki?” so here are some of the facts i threw at him to encourage him into that axis, maybe it will help you too.
Strategically Lagos is divided along two axis – the Mainland and Island, over the years governance has been geared towards providing infrastructure that will cater for the needs of the people of these areas independently. Well, success rate is another point of discuss but an attempt has already been push forward backed by grandiose plan, moreover the crème de la crème residents on the island are tired of crisscrossing between the two axis to access major Government facilities.

Lagos State with an area of 3577 square kilometres is the smallest in the federation though the most densely populated in Land area. The consequences on the Land area are manifested in problems of housing, provision of basic infrastructure such as water supply, roads, storm drainage, reliable electricity, waste disposal and social infrastructure like Schools, Hospitals and recreational centres the list is inextensible.

LEKKI AIRPORT
Airport is coming and believe it or not it will come. Can you imagine the number of hours it takes people coming from Ajah to get to Muritala Mohammed Airport (be it local or International) its s whole day affair and if you are not careful u can miss your flight due to the unpredictable nature of lagos traffic. So it received great ovation when the Lagos State Government muted the idea of another Airport at Ibeju-Lekki.

The Lagos State Government established the Lagos Airport Development Company (“LADC”) solely for the purposes of managing the development of the proposed Lekki Airport. The primary objective for the development of the Lekki airport is to complement and support the Murtala Mohammed International Airport (“MMIA”), the only functional international Airport in Western Nigeria. Additionally, it is the state’s desire for the airport to develop into the a new hub for business and travel in the west African region, creating an environment of excellence for national, regional and international companies.

The above singularly makes it a huge prospect for investors but if you wait till the Airport is fully functional before taking an investment decision then you will be paying a huge premium then, I believe now is better

estateprofits:



Land Classification

Land can be classified as either free or
acquired. A parcel of land is considered free if the government has not indicated any interest whatsoever in that land.

Such land is safe to buy because the title on the land can be perfected without issues.

In most cases, such lands will either have a gazette, a C of O or a governor’s consent.

Now that you understand what it means for land to be free, you should also know that all lands that fall within areas that are designated as urban areas are under government acquisition until deemed committed or free.
There are two types of acquisition; committed acquisition and general acquisition.

Committed acquisition

A parcel of land is said to be under committed acquisition when the government has indicated an intention to use that land for a specific purpose such as provision of amenities.
Such lands belong to the government and can never be available for use by individuals.

If you purchase land that is under committed acquisition, it will be impossible for you to perfect your land title and you’ll only be occupying the land until the government comes to kick you out.

General acquisition

Lands that are under “general acquisition” or “global acquisition” can later be confirmed ‘free’ or ‘committed’.
A land under general acquisition can become free by a process called excision.

“Excision is a process whereby the government releases a portion of an expanse of land that is not committed”
If a parcel of land that was formerly under acquisition becomes excised, it is then considered free and becomes gazetted.

The gazette then becomes the title on the land and such land is safe to buy because a proper title can be processed on the land.

A second case where lands under general acquisition can be released is if an individual purchased a land that was under acquisition without going through an excision process.
Such lands can go through another process called “ratification” or “regularization” in which the land owner pays for the land to be ratified or regularized.

The only conditions in this case are that the land in question must not fall within a committed area and that the purpose for which the land was bought does not disrupt the original plan of the state .

Conditions for ratification may differ from state to state.
I hope by now you understand the most important question to ask when buying land in Nigeria and the kind of lands you should avoid.

If you got value from this article, please share it with others, you might just be saving someone from possible demolition in future.

What other questions do you think first time investors should ask?

estateprofits:



Land Classification

Land can be classified as either free or
acquired. A parcel of land is considered free if the government has not indicated any interest whatsoever in that land.

Such land is safe to buy because the title on the land can be perfected without issues.

In most cases, such lands will either have a gazette, a C of O or a governor’s consent.

Now that you understand what it means for land to be free, you should also know that all lands that fall within areas that are designated as urban areas are under government acquisition until deemed committed or free.
There are two types of acquisition; committed acquisition and general acquisition.

Committed acquisition

A parcel of land is said to be under committed acquisition when the government has indicated an intention to use that land for a specific purpose such as provision of amenities.
Such lands belong to the government and can never be available for use by individuals.

If you purchase land that is under committed acquisition, it will be impossible for you to perfect your land title and you’ll only be occupying the land until the government comes to kick you out.

General acquisition

Lands that are under “general acquisition” or “global acquisition” can later be confirmed ‘free’ or ‘committed’.
A land under general acquisition can become free by a process called excision.

“Excision is a process whereby the government releases a portion of an expanse of land that is not committed”
If a parcel of land that was formerly under acquisition becomes excised, it is then considered free and becomes gazetted.

The gazette then becomes the title on the land and such land is safe to buy because a proper title can be processed on the land.

A second case where lands under general acquisition can be released is if an individual purchased a land that was under acquisition without going through an excision process.
Such lands can go through another process called “ratification” or “regularization” in which the land owner pays for the land to be ratified or regularized.

The only conditions in this case are that the land in question must not fall within a committed area and that the purpose for which the land was bought does not disrupt the original plan of the state .

Conditions for ratification may differ from state to state.
I hope by now you understand the most important question to ask when buying land in Nigeria and the kind of lands you should avoid.

If you got value from this article, please share it with others, you might just be saving someone from possible demolition in future.

What other questions do you think first time investors should ask?

estateprofits:
Buying a property is one of the best ways to prepare for old age or retirement. You don’t want to be 70 years old and still have to pay rent, do you?
Owning a home helps you fulfil one of those many life’s goals.

If you had to choose between setting money aside for a new car or a new house, a house should be your go-too as a car, if anything, only depreciates in value over time.

Purchasing a property is also one of the safest long-term investments a person can make as houses tend to appreciate in value over the years.

Owning a house always brings freedom. You are free to do what you want in your own home. You have the freedom to express yourself. Buying a property comes with a fixed address. Your family members can easily build long-lasting relationships around. You don’t have to worry about the feeling of starting your life from scratch which usually comes with renting a new apartment often.

For clarification, I ask, do you want to own a home? Start by buying a piece of land in our Christal Villa- Queens Court.

Location: Shapati, lakowe lekki epe express way.
Title: CofO
Price: 5m promo price

What are we providing under Development?

*Standard perimeter fence with 5ft raft*
*Security house*
*Demacation of road*
*Demacation of closes*
*Standard Gate house*
*Accessible road network*
Just to mention but a few.

*Infrastructural Provision*

*Security/Electrified fence*
*24hours street light*
*24hours water within the estate*
*24 hours security both internal and external*
*Interlocked Roads*
*Concrete drainage*
*Under ground electricity*
*Communication system*
*Transportation*
*Green areas/sport arena/estate mall/estate hotel/estate super market*
*Standard school*
*Standard parking lots* etc

Call us on 08034761590, 08173897747 for further enquiries and plot bookings.