Monday the 17th day of July 2017, The City of Lagos witnessed the birth of a new company and by the grace of God I was privileged to be a major promoter of this company and their External Solicitor.The name of the company is BERKELEY PROPERTY INVESTMENTS LTD.

The object for which the company was established among other things is to carry out the business of property acquiring, Estate development, investment in real Estate, acquire, hold and dispose all interest in landed properties. (www.berkeleypropertyinvest.com)

The company's mission statement is determined to empower Nigerians through property ownership and its vision is to facilitate wealth creation through innovatively investing capital skill and knowledge into property development. In their portfolio they have four (4) Estates namely: ROYAL HERITAGE VILLAS,THE VINE VILLAS ,BLESSINGS GARDEN VILLAS, AND EXCEL GARDEN VILLAS all situate within Ibeju Lekki Local Government Area of Lagos State.


I assisted and contributed my quota to the growth of this company for so many reasons, which has also motivated me to write on the TOPIC: LAND BANKING.

Years ago, before development came to Ibeju-Lekki axis of Lagos State, my friend bought ACRES of land from one of the indigenous families in the locality. According to him, he wasn’t quite sure he was making the right decision when he purchased the land because he diverted all the proceeds of a business on the investment.

His initial intention for purchasing such vast size of land was to use it for Agricultural produce but circumstances did not allow him achieve that purpose, so he left the land not sure of what may happen afterwards. But for the fear of trespassers and the dreadful land grabbers sighting the land on a choice location, he took immediate possession by planting some crops as well as constructing a perimeter fence on the land.

Fast forward to 2010 - 2011, the Lagos State Government started a massive development plan in the area (The Sea Port, Lekki Free Trade Zone, The Fourth Mainland Bridge, The Refinery etc), and just like that, the demand and price for land in Ibeju-Lekki axis tripled.

He told me how he didn’t have to look for buyers. “I got offers from every direction, that I was so confused… I eventually started selling to the highest bidder”. His eyes lit up as he adjusted in his seat “I immediately realized the opportunity and fortune I could make in the nearest future, so as I sold, I acquired more and today….I have a permanent financial breakthrough because I am still selling”.

As I listened with rapt attention, I watched his body movement, the pride in his eyes and the confidence in his voice, even his laughter conveyed a message; inspired by his story, I decided to write a reminder, a motivation and to enlighten my readers on LAND BANKING.


LAND BANKING is an aspect in the real estate sector that has been known by few for decades, a goldmine yet explored, but recently gaining popularity in Nigeria. These very few that had prior knowledge about land banking, has made from it a lifelong wealth. Today, I will be discussing on what land banking is, and how you can use same to build wealth.

The illustration above gives you a practical idea of what Land Banking is.

http://www.ibejulekkilawyer.com/land-banking-nigeria/

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/

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/

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/

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/

Being an attorney myself, it disheartens my heart that I write this article yet reality must be told. With all truthfulness and without being one-sided, I declare to my fellow readers that even in the legal profession there is fraud and misrepresentation particularly in the real estate sector. My experience: recently, I accompanied a very good friend of mine to finalize the documentation of a land transaction. The process began with his attorney seated and the other parties’ attorney, unknown to everyone but my friend that I was also a guru in the real estate business. The process began...http://www.ibejulekkilawyer.com/how-do-you-choos…al-estate-lawyer/

Being an attorney myself, it disheartens my heart that I write this article yet reality must be told. With all truthfulness and without being one-sided, I declare to my fellow readers that even in the legal profession there is fraud and misrepresentation particularly in the real estate sector. My experience: recently, I accompanied a very good friend of mine to finalize the documentation of a land transaction. The process began with his attorney seated and the other parties’ attorney, unknown to everyone but my friend that I was also a guru in the real estate business...http://www.ibejulekkilawyer.com/how-do-you-choos…al-estate-lawyer/

Being an attorney myself, it disheartens my heart that I write this article yet reality must be told. With all truthfulness and without being one-sided, I declare to my fellow readers that even in the legal profession there is fraud and misrepresentation particularly in the real estate sector. My experience: recently, I accompanied a very good friend of mine to finalize the documentation of a land transaction. The process began with his attorney seated and the other parties’ attorney, unknown to everyone but my friend that I was also a guru in the real estate business...http://www.ibejulekkilawyer.com/how-do-you-choos…al-estate-lawyer/

Being an attorney myself, it disheartens my heart that I write this article yet reality must be told. With all truthfulness and without being one-sided, I declare to my fellow readers that even in the legal profession there is fraud and misrepresentation particularly in the real estate sector. My experience: recently, I accompanied a very good friend of mine to finalize the documentation of a land transaction. The process began with his attorney seated and the other parties’ attorney, unknown to everyone but my friend that I was also a guru in the real estate business...http://www.ibejulekkilawyer.com/how-do-you-choos…al-estate-lawyer/

iboboyswag:


You are welcome and #wehdonesir

Op over to you.

EgunMogaji:


Thanks for the mention.

I enjoy reading these types of educative posts. One can only take so much roofing sales, Lekki and Lagos - Ibadan land sales thread from fly by night sellers on here.

Following.

Thankso much. You can also visit ibejulekkilawyer.com for more educative articles

iboboyswag:
Come on let's gather round..... its another opportunity for learning.

Make i invite my oga them.

Cc: Egunmogaji, kingreign, gazzuzz, lawyer, skimanski

you can also learn more on ibejulekkilawyer.com.

In my profession and as a legal practitioner with bias in the real estate sector, I handle a lot of land matters which I personally learn from and in turn, share this experiences so that my readers can be enlightened and not fall into similar issues. I am presently handling a matter in court, which involves “SALES OF LAND PENDENTE LITE” meaning sales of land pending litigation. For obvious reasons, I will not be able to give an in depth details of the case but will briefly and on the face of it share with you all.

After buying a land, the next step for most people is to construct a building on it. Construction of buildings is more than just contracting your everyday artisans for construction. Certain established rule and principle have to be followed to ensure that the construction of such building is of good standard and safe for people living in, and around it.

We have heard severally about building collapsing all over Nigeria, some individuals have been arrested as regards this. For example, in March 2016, the Managing Director and Chief Executive Officer of Lekki Gardens was detained over the collapse of a five story building under construction at Kushenla Road, Ikate Elegushi, Lekki Lagos. Apparently, the collapsed building was served with a contravention notice for exceeding the approved floors and thereafter sealed by the Lagos State Building Control Agency. The owner of the building, the promoter of Lekki Gardens however criminally unsealed the building and continued to build beyond approved floors. This act led to the death of about 30 people last year....... http://www.ibejulekkilawyer.com/consider-the-law…ing-on-that-land/

After buying a land, the next step for most people is to construct a building on it. Construction of buildings is more than just contracting your everyday artisans for construction. Certain established rule and principle have to be followed to ensure that the construction of such building is of good standard and safe for people living in, and around it.

We have heard severally about building collapsing all over Nigeria, some individuals have been arrested as regards this. For example, in March 2016, the Managing Director and Chief Executive Officer of Lekki Gardens was detained over the collapse of a five story building under construction at Kushenla Road, Ikate Elegushi, Lekki Lagos. Apparently, the collapsed building was served with a contravention notice for exceeding the approved floors and thereafter sealed by the Lagos State Building Control Agency. The owner of the building, the promoter of Lekki Gardens however criminally unsealed the building and continued to build beyond approved floors. This act led to the death of about 30 people last year....... http://www.ibejulekkilawyer.com/consider-the-law…ing-on-that-land/

After buying a land, the next step for most people is to construct a building on it. Construction of buildings is more than just contracting your everyday artisans for construction. Certain established rule and principle have to be followed to ensure that the construction of such building is of good standard and safe for people living in, and around it.

We have heard severally about building collapsing all over Nigeria, some individuals have been arrested as regards this. For example, in March 2016, the Managing Director and Chief Executive Officer of Lekki Gardens was detained over the collapse of a five story building under construction at Kushenla Road, Ikate Elegushi, Lekki Lagos. Apparently, the collapsed building was served with a contravention notice for exceeding the approved floors and thereafter sealed by the Lagos State Building Control Agency. The owner of the building, the promoter of Lekki Gardens however criminally unsealed the building and continued to build beyond approved floors. This act led to the death of about 30 people last year....... http://www.ibejulekkilawyer.com/consider-the-law…ing-on-that-land/

After buying a land, the next step for most people is to construct a building on it. Construction of buildings is more than just contracting your everyday artisans for construction. Certain established rule and principle have to be followed to ensure that the construction of such building is of good standard and safe for people living in, and around it.

We have heard severally about building collapsing all over Nigeria, some individuals have been arrested as regards this. For example, in March 2016, the Managing Director and Chief Executive Officer of Lekki Gardens was detained over the collapse of a five story building under construction at Kushenla Road, Ikate Elegushi, Lekki Lagos. Apparently, the collapsed building was served with a contravention notice for exceeding the approved floors and thereafter sealed by the Lagos State Building Control Agency. The owner of the building, the promoter of Lekki Gardens however criminally unsealed the building and continued to build beyond approved floors. This act led to the death of about 30 people last year....... http://www.ibejulekkilawyer.com/consider-the-law…ing-on-that-land/

Are you tired of fraud and land scam, have you been a victim of more that one land scam transactions, today we bring to you from the desk of ibejulekkilawyer.com list of verified properties for sale from our clients willing to sell. Visit.....http://www.ibejulekkilawyer.com/property-for-sale/

Sometime in February, I wrote an article about dredging in real estate. Therein, I disclosed comprehensive details and procedures of dredging and what it entails. I also listed the requirements for the registration of dredgers. Today, I will be writing about reclamation and its various forms and method.

Yesterday, I got an E-mail on ibejulekkilawyer@gmail.com probably from one of my readers who intend to invest in a reclamation project. He asked me about land reclamation, its meaning and benefits. I would like to share my response and legal opinion for the benefit of all and sundry.

Most of us staying in Lagos Nigeria especially Lagos Island are probably staying on a land that was reclaimed. Let me give few examples......http://www.ibejulekkilawyer.com/land-reclamation-its-benefits-and-disadvantages/

As far back as it goes, agriculture has been the style and source of living in Nigeria. Before the colonial rule, it was estimated that agriculture served about 75% of the countries whole population. Back then for our ancestors, it was the major occupation; they had less equipped modern tools as we do nowadays but still they found a way to feed more than half of the population.....http://www.ibejulekkilawyer.com/land-and-agricultural-investment/

I am sure all will agree with me that documentation is the backbone not just in legal process, but in all business transaction. As a legal practitioner, I am a big believer of documentation not just for record purpose but because it serves as very strong evidence either in court or anywhere it may be tendered. Many people have gotten into trouble and have served jail terms because of evading documentation. Some others have lost huge land and monetary investment also because of wrong documentation.
http://www.ibejulekkilawyer.com/importance-of-documentation-especially-in-land-transaction/

It is so sad that the issue of acquiring secret profit by an agent in Nigeria is a rather widespread occurrence. Owners of property are usually tricked into believing that the property they have given to their agents is sold at the amount agreed upon while in the real sense, the property is usually sold for a higher amount without delivering to its owner the extra profit on the land.

It is therefore important for all agents and land owners to know the consequences and effect of making secret profit on a land transaction without the consent of the principal or its owner(s). http://www.ibejulekkilawyer.com/padding-in-property-transaction/

In Nigeria, female child and widows rights to inherit their father/ husband’s property in most tribes and cultures are somewhat similar. Generally in the inheritance system, female child or widows are usually excluded or limited to inherit their father/ husband’s property. This principles or custom has raised arguments, debates on equality and discrimination of the female gender. However, some of this principles and customs have been changed or amended by the court of justice as we shall see below......http://www.ibejulekkilawyer.com/womens-right-of-inheritance/ ‎

Some times last year, in October 2016, I wrote an article on Will. Therein, I defined a Will as an instrument of conveyance, a legal document by which a person (the testator), expresses his or her wishes as to how his or her property is to be distributed at death, and state one or more persons (the executors/trustees), to administer the estate until it’s partitioned or shared. A Will is like an umbrella, it covers all kinds of property, all imaginable and unimaginable assets such as copyright, patent, Right to trade mark, movable and immovable property.... http://www.ibejulekkilawyer.com/transferring-tit…ath-of-its-owner/

Misplace of document is not a very uncommon issue these days. Either due to the carelessness of the holder or neglect of the banker, documents are found missing. Having your original property documents has practical and legal reasons. You need the document to show evidence of ownership because this would be necessary if you are selling or refinancing your house or property, or transferring the title for estate-planning purposes.....http://www.ibejulekkilawyer.com/misplaced-proper…ments-what-to-do/

In my last article on co-ownership, I defined Co - Ownership as the right to the ownership of a property by more than one person, such that on the death of any of the joint owners, the deceased owner’s portion of the property passes to the surviving owner or owners of the property. Today, I am writing on the Right to own property between a Husband and his Wife. A husband and wife have the authority and right to own property separately in their own name without restrictions. A wife has the right to own or acquire property and sell it at any time she wishes without restrictions from her husband. This same principle goes for the husband.... http://www.ibejulekkilawyer.com/ownership-of-property-between-a-husband-and-his-wife/

Smart people purchase and own landed property as a way of investing in the future. Investment in landed property can come in form of residential, commercial or for industrial purposes. The purchase of a land can be owned solely or jointly by two or more people as the case may be. A land can as well be inherited by two persons through a gift or devise in a will or via a grant in a deed or simply when two persons pull resources together to acquire an interest in land.....http://www.ibejulekkilawyer.com/co-ownership-of-property-between-two-persons-part-1/

I have received couple of emails asking me for my legal opinion in land investment in the oil and gas sector and because of popular demand; I have decided to address these issues in this article.
Imagine I bought a land around ibeju-lekki, and years later I discovered crude oil on it. What will be the position of the law in this matter?.... http://www.ibejulekkilawyer.com/what-happens-to-your-land-when-you-find-crude-oil-on-it/

Some of my readers emailed me, asking if there are criteria for land investment for a Fuel (filling) station. To address the issues, I will start by saying that there are lots of conditions, clearance and guidelines to follow for the construction while investing in land for a filling station. I should stress that, it is a very long list and I am doing this according to popular demand.... http://www.ibejulekkilawyer.com/land-investment-in-the-oil-and-gas-sector-guide-lines-to-follow/

Happy new year to everyone. I hope you all had a fulfilled holiday. I will start by appreciating all my readers for your time, comments, shares and words of encouragements. Either it’s believed or not, your responses have continued to inspire me and have kept me going. My blog officially started on the 7th of August 2016 and so far, I have written couple of articles concerning land investments, guidelines on land issues, Law and property and various tips on how to get the best property investment. To appreciate your efforts, I will now make a list of TOP 10 ARTICLES FOR THE YEAR 2016 (AUGUST TO DECEMBER) with the highest shares, views and likes on all Social media.....(read more http://www.ibejulekkilawyer.com/top-ten10-articles-for-the-year-2016-august-to-december/)

Complement of the Season to you all.
This is usually the best time of the year where there is great tidings, comfort and joy; but sadly not for everyone. One of the most horrible situation anyone would not want to be in, especially during the festive season is having to deal with issues regarding shelter and accommodations. This is exactly the case for more than 500 families rendered homeless without shelter throughout the festive period and maybe after words.

Yesterday, the 30th of December 2016 property owners at Olokonla Gardens Estate near Lagos business school Ajah Lagos matched to Alausa Ikeja protesting over the demolition of more than 200 houses out of the estimate 1,000 buildings to be demolished in this area by the Lagos State Government. I personally visited the Estate and saw things myself...... http://www.ibejulekkilawyer.com/demolition-of-properties-in-olokonla-garden-estate-what-went-wrong/

Writing about my experience when buying a vast expanse of land in igbo land reminds  me of an article I once wrote (secret of making money in a vacant land. it is undeniable that land has different meaning and uses to different people. For some, it  is a space for producing grains to feed themselves, their family and their livestock’s, for others, it is an entity that they give respect to and worship, while for most, it is a source of income and economic strength. http://www.ibejulekkilawyer.com/buying-a-vast-expanse-of-land-in-igbo-land-my-experience/