Investment in Real estate in Nigeria is one of the most lucrative investment you can ever think of. In metropolitan cities like Abuja, Lagos, Port Harcourt etc the returns on investment are very high. For example, in the city of Lagos, Epe town which is almost of Lagos used to be a place with no activity but today with the presence of the Dangote Multi-billion dollars petrochemical refinery and fertilizer plant in Ibeju-Lekki, the value of lands has shot up.
Some years ago, a plot of land was N100,000 but today, it is above N900,000. Land is always appreciating but not when it is bought on forbidden grounds. There so many landed properties that are being demolished by state governments when it deemed fit. Why the demolition of these properties?
There are two reasons why the government can seize or demolish your property. The first reason is when it involves fraud or lack of payment of loans and the second reason is when you encroach into government committed land. The second reason can be avoided from the moment you make up your mind to acquire that land.
To buy land in any part of the country, the needful must be done. You must get a professional surveyor to chart the land. Charting a land saves you from a lot of problems. It is from the surveyor’s report that you will know whether the land is located with government committed area or not. Based on the land use act of 1978, all lands are vested in hands of the government.
However, there are some lands that are safer to buy and through the process of regularization you can release it from the hands of the government. Any land you buy that falls within a government committed area is a land that will have any structure built on it demolished in the future and then the land is seized as well.
To avoid loss of money and avoid a future heart attack, you need the services of a professional Land surveyor to help you chart the land. Even though there are documents such as a survey plan, you still need the surveyor to check it for you to know if it was registered as well as have the stamp stating “This land is free from government acquisition”. Without the survey plan, you can not process other relevant documents such as the certificate of occupancy and your building designs will not be approved.
To avoid future demolition of your houses, you need to first chart your land and if it is free, get a registered survey plan.
The Real Estate Explorer.