Thursday, 25 January 2018
IBADAN FOLKS - PROMO! PROMO!! PROMO!!!
CHRISTAL VILLA- Kentops
Christal Villa Kentops is an ideal living haven & investment destination perfectly seated on the high growth community of Elebu.
LOCATION: Elebu, Oluyole Extension, 20mins Drive from Akala Expressway
TITLE: Registered Survey
PRICE - #700k
PROMO: BUY 6 GET 1 FREE
SIZE: 500SQM
STATUS: DRY
BENEFITS
* Estate Gate and Gate House
* Road connectivity
* Water
* Electricity and Street Light
* Drainage
* Provision of Security
NEIGHBORHOOD:
* ICAST School
* Akala Expressway(Home to sprawling businesses)
* Oluyole Estate (40mis drive to the Governor's house)
For more information and enquiries, Contact Christal Homes on Call/WhatsApp: 08023947494
THINK REALTORS ARE USELESS FOR FINDING GREAT DEALS? CONSIDER THIS
THINGS TO CONSIDER BEFORE BUYING LAND TO BUILD A
HOME IN LAGOS, NIGERIA
Remember, It’s All About LOCATION, LOCATION,
LOCATION
This is,
above everything else, the most important consideration when buying a lot.
Aside from just choosing the right location on a macro scale (i.e. the side of
town you want to live on), it’s also important on a micro scale as well: for
example, if your lot is part of a bigger real estate subdivision, is it going
to be on the side that has a nice view, or the side that’s right next to a
highway? If you have children, you’ll want to think about nearby school
districts. If you are still in your working years, you’ll also want to make
sure you don’t build a house that’s so far from work that you have a commute
time that’s longer than you like. If you are retired or retiring, you may want
to look into nearby community amenities including medical services,
recreational facilities, clubhouses, fitness centers, etc..
Approval and Licences:
Once you
zero in on the property, check the builder’s paperwork ranging from
commencement certificate for work, environmental clearance and approved
building plans. Also ask for the status of the land title and see if the
builder has bought the land or has just development rights for it. Here is a
list of documents you should check. (a). Title Deed: Check whether the builder
has a right over the property. While buying a plot, see the title deed of the
land to confirm if the builder has the full right to it. You can also take help
from a lawyer to get the deed examined.
DivakarVijayasarathy,
Co-founder, MeetUrPro.com, says, “A mere NOC (no-objection certificate) from
the panchayat or the local body does not constitute approval by the authority.”
(b). Release Certificate: If you are buying
a property in resale, remember that it may have been pledged to get a bank
loan. In such a case, you will have to get a release certificate from the bank,
which will prove that the loan on the land has been repaid. Check Encumbrance
Certificate: It is also important to verify that the land is free from all
legal dues.
(c). Verify land use: Verify the land-use
zone as per the city master plan for the plot. You can get the plan from the
local body office in your respective city.
(d). Approvals by Local Body: Make sure that
the entire layout has been approved by the development corporation and the
local body of the city.
(e). Property Tax Receipts: If you are
buying a property in resale, ask for previous property tax receipts from the
seller along with other bills. This way you can ensure there are no pending
bills.
Try To Picture Your Neighborhood in 5-10 years
The
biggest mistake I see people make when they buy real estate land is that they
often get into a “house fever.” By house fever, I mean they fall in love with
some aspect or feature of the property that they forget to ask some of the
biggest questions.
For
example, what developments and properties are likely to be set up around the
area in 5 to 10 years.
Know The Property’s Setbacks
What are
the setbacks on your lot? (If you are not familiar with the term, “setbacks”
are the guidelines that state how close to the border of your property you can
build.) Your local building department or owners association will have the
answer to this question, and it may affect where you put your house; on smaller
lots, setbacks may even dictate the size of the home’s footprint.
Don’t Forget Zoning & Restrictions
Finally,
you’ll want to know all about the restrictions on the property. Are you buying land
in a community that has Covenants, Codes and Restrictions (CCRs)? Is there an
Architectural Control Committee (ACC) that you’ll have to run your design and
landscaping decisions by for approval? You’ll want to make sure you know this
before you buy the lot, and certainly before you start building.
Zoning is
important as well
Some areas have land that is zoned for either commercial or
residential use. You probably don’t want to build a house where you’ll end up
with a gas station as your next door neighbor… but even if you are in an area
that’s zoned for residential homes, is it zoned for more than one structure? If
you want to build a barn, a detached garage, or a “mother-in-law cottage”
behind your house, you’ll want to make sure your lot is zoned properly for
this, and finding a lot with this kind of zoning may be more difficult than you
think.
We hope
this has been a helpful list of items for you to consider as you look at buying
land.
Contact us at GARNET HOMES for available offers and let us help you work with your budget to make you become a land owner . Kindly call +2348023947494
HOW TO REGULARIZE OR RATIFY THAT YOUR LAND THAT IS UNDER GOVERNMENT ACQUISITION SO THAT IT WILL NOT BE DEMOLISHED
If
you have bought lands from Omonile in the past that do not have either a ( C/O)
or a Gazette in the following areas Ikeja, Opebi, Ogudu, Gbagada, Oregun,
Surulere, Anthony, Obanikoro, Adekunle Village.Isolo, Okota, Ilasamaja,
Ijeshatedo, Ojota, Bariga, Iju, Olowora, Isheri, Shangisha, Oworonsoki and
environs, Ojo, Ikotun, Egbe, Ejigbo, Shasha, Akowonjo, Okokomaiko, Owode
Onirin, Idimu, Egbeda and environs.Ayobo, Ipaja, Igando, Alagbado, Mebamu,
Ajangbadi and environs, Ikorodu, Badagry Axis, Lekki Axis (Eti-Osa to Abijo),
Ibeju Lekki to Epe & Epe Town and you haven’t been able to get a proper
document for your land, I have good and bad news for you.
The Bad news is that the Omonile has scammed you to sell lands that
belong to the government and masked it as their own family lands hereby making
you part with your money illegally and freely to them without any proper title
because they didn’t have any land to give and sell in the first place.
The Good news it that the Lagos state government has
decided not to demolish such houses or revoke those lands that has been
encroached on by Purchasers of this Bad Lands from Omonile and instead will
grant title to such Purchasers. This would afford those who unintentionally
bought government acquired land from Omonile or land Scammers the opportunity
to regularize their titles and thereby obtain Certificate of Occupancy (C of O)
through a process called Ratification Popularly Referred to as ‘RAT or
RATI’ ( Now referred to as Regularization).
NOW WHAT REALLY IS
RATIFICATION OR LAND REGULARIZATION IN LAGOS STATE?
According
to Land Bureau website “Ratification (now referred to as Regularisation)
is a policy of grace that avails squatters on uncommitted Government Land, the
opportunity to obtain legal title to the land encroached upon from the State
Government. It is the process of allocating Government land to someone who had
previously occupied landed property without lawful authority from the State
Government”
Regularisation is subject to two (2)
basic conditions:
(i)
That the property must not be situated in a Government Scheme, Estate or
Committed Area; and
(ii)
The property must be situated within an area that conforms with Urban and Regional
Planning regulations and standards of the State.
What
this means in plain English is that Omoniles have contributed terribly to
the sales of very bad lands that belongs to the Government to
unsuspecting buyers that did not do any proper search before they bought their
lands and because the lands purchased were defective from the start it will
be very difficult to process your papers at the Land Registry at Alausa because
they are illegal lands that shouldn’t have been bought from Omoniles and the Government
has every right to come and demolish any structure they find on the land.
Examples
of Bad lands people purchased from Omoniles include lands under Government
Acquisitions, Lands Government intend to build estates, drainages, roads,
Government Schemes, pipelines, high tensions, bad layouts and general lands
or property that do not conform with the Lagos State Urban and Regional
Planning Regulations .
Because
of the sale of these bad lands, it has been extremely difficult for the
purchasers of this lands to get even a simple Survey Plan approved or lodged at
the Surveyor General’s office, talk less of owning a Certificate of Occupancy (
C/O) or an Approved Building Plan Or the Right to claim proper Ownership of the
Land legally. These people live in constant fear everyday of an impending
Demolition or Revocation.
HOW TO UNDERSTAND THE
DIFFERENCES BETWEEN PURCHASING A LAND UNDER GOVERNMENT ACQUISITION AND A
COMMITTED LANDS SO AS TO KNOW WHICH ONES CAN BE REGULARIZED
It
is pertinent here to explain two concepts that affect the issue of Ratification
or Regularization before I move on and it has to do with the differences
between Owning Lands Under Government Acquisition and Committed Lands.
A
Land under Government Acquisition is a land acquired by the Government
for its own specific use and there are plans for these lands in the nearest
future depending on what the Government intends to do with the land. These
lands have been acquired for years by the government and its at the
Government’s discretion to release those lands to people who have illegally
bought the Land from Omoniles or not depending on if they need to use the lands
for a specific purpose or not and if the release of those acquired lands to
the people will not disrupt any regional or urban planning regulation.
Meanwhile,
a Committed Land is a land the Government already has Plans for
and nothing in this life will make the Government alter its mind to give up
that land. Such lands include lands earmarked for Government estates, Roads,
Government Schemes etc. In fact if you buy a land in a committed Area, you’re
on your own because they will never approve the papers and if you build a
property there, it will most certainly be demolished.
So
because of these problems of land owners who bought lands illegally from
The Dreaded Omoniles under Government Acquisition, the Lagos state
Government decided to take an Inventory of all unlawful structures erected in
areas under Government acquisition and endorsed a decision that all prohibited
structures erected on Land under Government acquisition which were not blocking
roads, drainage and not located in Committed Areas should have the opportunity
to process their papers and be granted building plan approvals and also
assist the Government to provide for more housing developments for low income
earners. This decision of approving the processing of getting their papers in
Lands under Government acquisition gave birth to the process of Ratification
and Regularization of owning lands within Non committed Government Acquisition.
Today
it is now known as Regularization officially at the Land Registry at Alausa
instead of Ratification. Regularization in other words is a process whereby
illegal owners of lands in areas under Government acquisition that are not
Committed lands are given the opportunity to obtain a legal title to the land
encroached or trespassed upon from the State Government.
To
simplify it, it means the process of allocating Government Land to someone who
had previously occupied landed property without lawful authority from the State
Government but it is subject to 7 Conditions:
1.
That the property must not be situated in a Government Scheme, Estate or
Committed area
2.
The Property must be situated within an Area that conforms to Urban and
Regional Planning Regulations and Standard of the State.
3.
The Appropriate Set back of the Land must be observed.
4.
The Appropriate distances from drainages, Canals, NNPC pipelines, Gas
Pipelines, NEPA transformers, High Tension Wires, Water Pipelines and other
restrictions laid down by the Physical Planning and Town Planning.
5.
The land must not fall on road Alignment
6.
The land must not fall within a Committed Government Area
7.
The Land must fall within the Permitted Regularization Areas
These
days it has been extended to areas without development schemes/layout plans and
areas without Unplanned Developments. Example of such areas include: Okota,
Ketu, Ikorodu, Badagry etc.
SO IF YOU HAVE BOUGHT A LAND THAT RUNS AFOUL OF THESE 7
CONDITIONS YOU HAVE YOURSELF TO BLAME BECAUSE YOU REFUSED TO DO A PROPER LAND
SEARCH AND YOUR LAND WILL EITHER BE REVOKED OR THE HOUSE BUILT ON IT WILL MOST
CERTAINLY BE DEMOLISHED
So
shine your eyes before one Omonile lies to you that he has power to sign
your documents and the right to sell lands to you in those areas listed above
and many more areas that we dont know about yet. You will most certainly pay
Lagos state government double the sum you used to buy it illegally from
Omoniles. Always do land verification searches before you part with your money
illegally.
P:S:
For those coming across the word OMONILE for the first time, it’s a
derogatory slang given to Land Speculators and Grabbers who specialize in
reselling other people’s lands or duping people off their money under the guise
of selling hereditary lands owned by their forefathers.
Courtesy : Barrister Mathew Ottah
Monday, 22 January 2018
HOPEWELL PARK ESTATE
Hopewell
Park Estate located in between The multi-billion dollars Dangote refinery and
the La Campagne Tropicana Resort.
This
Safari like view of the estate makes it a place to resort. Bounded by the
Atlantic Ocean to the south and Lagos lagoon to the north, it's a few minutes
walk to both water fronts.
The land
has excision, has a beautifully designed layout, free from acquisition and it's
dry.
Each plot
is 600sqm, sold for N2m a size which is enough to build 3 bedroom twin-duplex.
Your investment in Hopewell Park Estate is sure to appreciate by 100% yearly.
While the
estate is conceived to be gated we offer facilities like : road network,
drainage, green area, electricity etc.
For
inquiries and inspection please call : +2348023947494
REAL ESTATE INVESTMENT
Every
season comes with its own opportunities and challenges. Real estate investment
has proved to be one of those vehicles that reflect this dynamic mix of
opportunities, risks and returns. It is an investment vehicle of choice to the
discerning mind that understands and can navigate the risk.
To
maximise your opportunities in this sector, you need a fair understanding of
the various options available to you. Based on several factors, most investors
focus on one or two of the options and only shift to other types of real estate
investments after getting a good grasp of the available options.
One of the
options available to you as a real estate investor is buying vacant land and
holding it for a while. A vacant land with good title is a good investment if
you follow the location’s rule. One of the benefits of buying vacant land is
that as long as you are buying for investment purposes and you are ready to
give it a long-term view, you can purchase the land in areas that are presently
remote and undeveloped. Buying land in an area that you know is undeveloped
does not necessarily translate to wealth for you unless certain factors have
been considered.
Demography
is one of the key determinants of areas that a person should consider for
investment. If a location has certain factors in its favor, it will likely
appreciate faster. But if these factors are not properly considered, a person
could miss some fantastic opportunities or invest in a very slow area where it
will take years to recoup your money. Since you are more interested in capital
growth at this time, it is always good for you to buy land within a ‘line of
growth’.
There are
areas that are within a radius where physical and economic growths are expected
to take place. The closer you are to these areas, the more expensive the land will
become. The further you are to existing infrastructure, the cheaper the land
will become. Once the right factors are taken into consideration and you are
prepared to wait, it is simply a matter of time before you reap the dividend of
your investment.
Another
strategy that could be applied to vacant land is to buy wholesale, hold and
gradually offload at a profit. The first benefit you derive when you alone or
with your partners decide to buy wholesale is that you can use the number to
get a discount from the seller. You can also use this to leverage payment by installment.
Most
sellers are prepared to give you a flexible payment plan if they know that you
are buying wholesale. The benefit of buying more than one plot of land is best
felt when after the property has appreciated, you decide to sell one or more
parcels of land.
If the
property appreciates fast enough, depending on the number of plots, you may
make enough money to cover your initial investment and still make profit while
still retaining one or more plots.
Another
possibility is that you can buy a property or building, hold it for a while
without adding significant value and then sell or flip it as soon as you get a
good offer or deliberately buy the property and renovate or add serious value
to it before pushing it back into the market for sale. The latter option that
involves adding significant value by renovating the property is better.
Value
addition gives you a legitimate right to ask for more and often increases your
profit as a real estate investor. Depending on the skill, imagination and funds
available to you and your team, you can transform the property and make it a
money spinner.
The
advantage of this option is that you always negotiate with the owner from a
position of strength. Your aim is always to buy at a discount based on the
current state of the property. What you can do with the property should not be
discussed with the seller as this is your business secret.
Your job
is to buy it at a cheaper rate than its true worth, spend time and money to
bring out greater beauty from the property and sell or lease for a good profit.
This is an option that you should explore and research well before you enter
into it.
You should
enter and grow it slowly, one property a year so that you do not over extend
yourself. With a good strategy, the possibilities are enormous.
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