Saturday, June 7, 2014

Land for sale in Lekki Villa

Lekki Villa: Is located within the Bogìjè/Shàpàtì area of the Ibeju Lekki environs. A land size of 675sqm sells for 1.5M outright payment or 1.8M for a 12 month installmental payment.

The estate also has an ongoing promo in which if you buy one plot, you get 10 Bags of Cement and 3 trips of Sand on Allocation. Buy 5 plots and get One plot FREE! This promo runs till the end of june. Hurry Now!

Content from Nigeria Property Centre

Real Estate Investment in Nigeria pretty easy.

Property in regard to land and buildings is one thing that is worth your investment in the long term due to the fact that landed properties appreciate with time.

Investigations reveal that as at 2011, only 37% of Nigerians were house owners. Providing relevant and timely information to potential investors and to the general public can help increase this figure. Also, there is a need to break down the barriers to investing in the sector by simplifying the process. These steps include
1. Research

If you are interested in the property market, there are great platforms to find information you need, including the mass media, online and around you. Talk to locals. Use the internet for your research as its an avenue for you to get the much needed information at the palm of your hand. You have to understand it before you can get into it. It is important to note that Real Estate information in Nigeria is scarce and thus requires effort on your part, whether you are in the country or abroad.
2. Decide on the property market you wish to invest in.

Based on your research and depending on your goals, pick a sector that will benefit you more. You could chose from office to industrial property, retail centres or residential units. According to a developer in this BusinessDay article, a shopping mall in Nigeria is sold off before it is even complete while residential units take several years to actually sell out.
3. Which real estate market is blooming?

Decide on areas where a highway is constructed which  eases traffic and the working class tends to move in that direction, or areas with newly constructed facilities making it a worthy cause to build high-rises to rent out to them.
4. Decide on where and how you will get finances

It could be from friends and family or financial institutions. You could also finance it yourself. When you approach the bank or institution, make sure you know what you are doing. Your plan has to be viable enough to make them give you the money. As stated here last time, the Nigerian government secured a $300 million loan from the World Bank to establish Nigerian Mortgage Refinance Company (NMRC) at the beginning of 2014. Hopefully its effect in terms of liquidity and bank lending is being felt now. You could benefit.
Remember that property in the better parts of Lagos and similar upscale urban areas is as expensive as in some Western markets.
5. Get the details right

You can never be too careful. Talk to industry experts, a lawyer and make sure you get everything ironed out right from the federal government requirements down to the owner’s issues. It is another known fact that property scammers run amok in our big cities; pretending to sell houses whose owners are away, complete with fake title deeds. Beware. Get the advice of relevant professionals such as surveyors who will check out the property and advise you accordingly.
6. Know your Law

You have the right to own property as a Nigerian. All the same, the 1978 Land Use Act gives state governments authority over land within their borders. They in turn avail it to you after an intricate and bureaucratic process. You will then receive a certificate of occupancy to actually use the land i.e. sell it or develop it. Your right can also be denied if you are living in a place that is not your area of origin, which can be very subjective at the very least and can create ethnic tension.

Mistakes can be made in the real estate market in Nigeria as in anywhere else and that is why one needs to practice patience and wise resolve. Remember, Nigeria is a developing market with great potential in sight.

A Newly Built Lovely 3 Bedroom Flat Content from Nigeria Property Centre

 See details bellow

Property Description

a newly build lovely 3br flat on the art of yaba.

secure an serin environment.

all room ensuit .

just 4 block of flat wit a big car park.

easy drive to vi obalende ikorodu ikeja.

rent is 2yr but de can do 1an half if u are seriou just 2 left.

intrested client

call 08184100140 07039434655

butterfly properties

pass it on
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Content from Nigeria Property Centre
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Sunday, June 1, 2014

15 statutory laws governing land/property transactions in Nigeria.

Many people do not know that there are some statutory laws that have been enacted and established by both the state and federal government to regulate, guide and govern all forms of land and landed properties’ transactions in Nigeria which could make such transaction illegal or even lead to forfeiture whenever the parties to the transaction do not adhere to the provisions of such statutory laws as been laid down or stipulated.

Land and landed properties are static in nature and because they are immovable, hence the Latin maxim “Quicquid plantatur solo solo cedit” (meaning; whatever is affixed on the land belongs to the land).

Land and landed properties’ transactions (ownership, sales, acquisition, lease, mortgage, alienation, assignment/conveyance, sublease) are a contractual relationship between two or more persons for exchange and release of interest they have on land and landed property in consideration for a compensation which is usually of monetary value in nature.

For the protection of all parties involved in any or all of the above mentioned transactions as well as making such transactions legal and tenable in any court of law, the government (state and federal) of the federation has enacted some statutory laws to guide, govern and protect all persons who find themselves embarking on any of these land and landed properties’ transactions in Nigeria.

2There are so many reasons why government enacts statutory laws to govern and guide land and landed property transactions in Nigeria. Some of which are:

• To help generate additional revenue for government
• To add up to the Gross Domestic Product (GDP) of the economy
• To endeavour government carry out one its constitutional statutory function of protecting lives and properties
• To protect land/property investors and owners against fraud
• To have a detailed record of all land and property transactions in the country
• To assist government in planning towards adequate provision of infrastructural facilities in the country
The first part of the statutory laws governing land/property transactions in Nigeria which I will write on are:
1. Land Use Act
2. Land Instruments Registration Laws
3. Registration of Titles Acts
4. Rent Control and Recovery of Premises Acts
5. Tenancy Law of Lagos state
6. Tenement Rate Laws
7. Land Use Charge Law of Lagos state

UK Nigeria Diaspora Bodies Collaborates With Diarep Uk Exhibition

The Nigeria Diaspora Direct Investment Summit (NDDIS) and Central Association of Nigerians Living in the United Kingdom (CANUK) has extended their hands to collaborate with Real Edge Alliance Limited, the major promoters of Diaspora Real Estate Project (DIAREP) to organize an real estate exhibition for Nigerian living in the UK. The exhibition will be holding in London on the 26th and 27th of July 2014 at the Imperial College, London.