₦airaland Forum

staaan:
[b]C of O Processing Breakdown

Form Submission, Advert, Inspection and Charting is 40k
Deed Preparation is 10k
Ground Rent is calculated as 7.5naira* area of land* 5yrs
So our calculation for Ground Rent would be 7.5*4070*5yrs equals 152625
Current Tax Clearance for Buyer 50k
The present administration now collects Tax Clearance from Seller too at 50k. So lets say u are not waiting on the seller to save more time and you provide this amount. It wld sum to 100k for both parties
Capital gain Tax is 5% of the price given. Using 350k for instance it amount to 17500
Stamp Duty is 3% of given price. Using 350k too that wld give us 10500
Then Deed Registration is 20k
Total amount wld be 350625

Now here is the thing. For my clients I may be willing to alter the given price of property purchased.
We will do this by signing 2 agreements, one bearing the real price purchased, the other bearing a convenient price agreed to be presented to the ministry of lands and survey.

Pls also note that there's presently no Commissioner for lands in Oyo State. But it is believed that Since Ajimobi has been upheld by the tribunal He wld appoint one within a month or there about. The implication is that it might take a couple of months before the C of O can be ratified since it has to be passed to the Commissioner for Lands.
That's the breakdown.[/b]

Please note that the above Breakdown does not include any professional fee or side tips or hand greasing, if you have a knowledge of things work at the Secretariat. I gave these exact figures to give an actual insight to what the government takes.
Thanks

AreaFada2:
Uwc sir. How much would c of o per acre cost in that area?

[b]C of O Processing Breakdown

Form Submission, Advert, Inspection and Charting is 40k
Deed Preparation is 10k
Ground Rent is calculated as 7.5naira* area of land* 5yrs
So our calculation for Ground Rent would be 7.5*4070*5yrs equals 152625
Current Tax Clearance for Buyer 50k
The present administration now collects Tax Clearance from Seller too at 50k. So lets say u are not waiting on the seller to save more time and you provide this amount. It wld sum to 100k for both parties
Capital gain Tax is 5% of the price given. Using 350k for instance it amount to 17500
Stamp Duty is 3% of given price. Using 350k too that wld give us 10500
Then Deed Registration is 20k
Total amount wld be 350625

Now here is the thing. For my clients I may be willing to alter the given price of property purchased.
We will do this by signing 2 agreements, one bearing the real price purchased, the other bearing a convenient price agreed to be presented to the ministry of lands and survey.

Pls also note that there's presently no Commissioner for lands in Oyo State. But it is believed that Since Ajimobi has been upheld by the tribunal He wld appoint one within a month or there about. The implication is that it might take a couple of months before the C of O can be ratified since it has to be passed to the Commissioner for Lands.
That's the breakdown.[/b]

Good morning

AreaFada2:
Uwc sir. How much would c of o per acre cost in that area?

It would be about 300k or less per acre. My sources within the ministry of lands say that the present administration have added some extra charges to process the C of O. I would give a breakdown of this later today.

This thread is specifically for Requests. If you are looking to Let Lease or buy a property within any location in Ibadan, avail yourself the opportunity of just posting the request and I will search and give you a reply as soon as I can.
Please do it in this order;

Type of Property

Preferred Location

Features Expected

Budget

Time Needed

Email/phone number



I will try to reach those interested within 24hrs
Cheers

Staaan

Progress

Buy today

AreaFada2:
Thanks@staan.

Doing a seemingly thorough job. Keep it up.

If all the docs check out well, it would be interesting.

My only concern is keeping it safe from speculators and encroachers since I have no immediate use for it.

At least for 3 to 5 years.

As for the 120k acres, also try & verify the documents for it. That way people can decide which they want. Or even a mix of.

Thanks for the compliment Boss. My advice for keeping it from encroachment would be to have a corner piece done after survey is duly registered and C of O processed. Then you allow some of the villagers to farm on it for as long as you feel is necessary. Trust me when I say those villagers have a way of protecting their benefactors interest even beyond what you would imagine.

Happy Sunday Folks









We manage properties in both Ibadan and Abuja. Give us the opportunity of managing yours. Thanks

Happy Sunday Folks







We manage properties in both Ibadan and Abuja. Give us the opportunity of managing yours. Thanks

Happy Sunday Folks









We manage properties in both Ibadan and Abuja. Give us the opportunity of managing yours. Thanks

Happy Sunday Folks









We manage properties in both Ibadan and Abuja. Give us the opportunity of managing yours. Thanks

Happy Sunday folks




We Manage properties in both Ibadan and Abuja. Give us the opportunity of managing yours today.

Happy Sunday folks




We Manage properties in both Ibadan and Abuja. Give us the opportunity of managing yours today.

EgunMogaji:
Which of the properties in question is this writ up about specifically?

I am looking at at the ones offered for N120k at this point.

This is for the properties offered without a Registered Survey, those for 350k and 250k respectively.

bebe2:
lol, tnk u

Your welcome anytime...

bebe2:
sorry if it sounds stupid,

where is this ashi, bodija what local govt area is it?

am not a lagosian.

It doesn't sound silly, it's a harmless enquiry...
Ashi/Bodija is within Ibadan Metropolis, under Ibadan North LGA

Call today

Neat

Inspections ongoing

Progress Report
Sequel to the under quoted post,

AreaFada2:
@ Egunmogaji, Are you familiar with this area?


Any worries of being committed land?

I was lucky to have done thorough land checks a few years back. The land was right behind a popular Pentecostal church along a Federal Highway. It turned out to be government land, the whole area.

I felt the need to clear the air and satisfy the yearning for due diligence. I took the pleasure of organizing a meeting between myself, the Lawyer of one of the companies interested (my clients) and the land owner.
We tried to ask and get answers to the following question from the Land Owner;
1. Is there Government Acquisition on any these properties that you own?

HIS ANSWER
During Awolowo's time, He asked to be given a portion so as to encourage farmers and help market their products. According to Land Owner, His fathers gave Awolowo about 10acres to build a Garri Processing Factory. This Factory was built and is still a visible structure when you go to that area today. He then said the Government never continued use of that place until this present Administration came in. However its just about 10acres and this is not among the areas He owns. This story was like a History Class to me as I took the pleasure of listening with rapt attention. lol...

2. How did you come to own so much of these lands?

HIS ANSWER
He Smiles and then continues, '' I was privileged to have made some little money early in life and my father was one of the Baales at the time. So I asked for all those willing to sell their properties to come together as one fold. I bought from them and paid in bits till I finished paying. I also have an agreement that covered this transaction at that time. This was in the early 70s.

3. Is there a way we can trace this title from the original owners to yourself and then to your company since you transfered the title to to your company?

HIS ANSWER
Yes, there are documents to show the trail and I will make them available to Stanley.

4. Is this Company of yours duely Registered?

HIS ANSWER
Yes it is a limited liability company and i will also give Stanley a copy of the Certificate of Incorporation.

5. Among those listed as your Board of Directors, Do you have your wife (wives) or Children in case of your demise?

HIS ANSWER
Yes I have 3 of my elderly children and these will take responsibility if anything should happen to me.

6. Does your company have a seal?

HIS ANSWER
Yes we do and can be sighted.


I got all documents promised as it was delivered to me by the company secretary.

We intend running some of these documents at the State Secretariat to further understand the Status of the company and will keep you informed as to our findings

These are excerpts from the meeting we held in the Lawyers Office. I do hope it clears some concerns.

PS I have a recording of these conversations during this meeting and will to make it available to only prospective buyers who request it.



We also manage properties in both Ibadan and Abuja, give us an opportunity to manage yours. Thanks

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Keep the calls coming

Good deal

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Nice

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This is a 4 bedroom office space located at Aare main avenue by the main road.
Features are;
Ceramic floor tiles all through
Air conditioners in the rooms
A waiting lounge downstairs
3 toilets and bath 2 ensuite
A balcony facing the major road for item and brand display
A balcony by the side
4 big rooms all suitable as board rooms or seminar rooms.
Parking lot in front of the building
Very neat ambience
Good comparative advantage

Rent is 1m

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Super nice

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