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Things You Need To Know
This is not a good time for the Lagos State property players. Many of them have been battling to survive in the businesses, as Lagos State is set to clamp down on many housing estates without building approval.
Currently, so many housing estates have been marked for demolition in Ibeju-Lekki area of the state.
Lately, two government officials have come out to give reasons why most estates are denied approval on that area of the Island.
A few days back, Commisioner for Agriculture, Lagos State, Abisola Olusanya, revealed that many of the acquired agricultural land in the state are now being used as residential estates, saying that the entire Lekki corridor was zoned for agriculture but has been taken over for housing estate development.
She said the government is committed to ensuring that the land for agriculture was used for the intended purposes; making it an organised system and value-chain destination; achieving its aims and objectives of agricultural and food systems road map as well as food security policy hub.
Also in another news, the Lagos State government revealed that 80% of buildings around the Ibeju Lekki and Epe corridors do not have government approval.
This was made known by the Lagos State Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, during a recent interview with newsmen.
This is coming at a time when the Lagos State government is facing a lot of criticism for the way and manner it has been handling the demolition of buildings and shanties across the state.
Olumide, said despite the rigorous procedures involved in securing government approval, property developers and owners are still circumventing due process as a result a lot of estates have been marked demolition Olumide said, “Just last week Thursday and Friday, myself and the team were in Ibeju Lekki and Epe axis and you would agree with me that anybody passing through that corridor would see a lot of estates marked. :We went there, and I can tell you that from what we saw, over 80 percent of those estates do not have approval.
“The procedure to get approval is first to get the planning information, as to what those areas have been zoned for. In that area, I can tell you that it was marked for agricultural activities, and people now go to their families to buy land ment for agricultural use for other purposes. Of course, those lands would be sold because those families did not know the use such buyers would put them into.
“The next thing to get is the fence permit. If you missed the earlier information on zoning, at the point of getting the fence permit, you should be able to find out what the area is zoned for. After that, the layout permit of a large expense of land follows.”
Olumide noted that a layout permit cannot be granted if it is not for the purpose it was designed for.
He added, “So, you can see all these guide lines, but people still go ahead to start advertising. Some have even gone to the extent of displaying the sizes they want to sell. Imagine someone in the diaspora who wants to send money without any knowledge. Then, no approval is eventually gotten. Even if they pass the assignment and the survey to us, we would not grant the individual permit, because that area was not zoned for that purpose.’’
Ibeju Lekki, a local government area in Lekki, Lagos, which is also referred to as the New Lagos, is a rapidly growing area in Lagos State. Ibeju Lekki, is one of the most wanted locations in Lagos Real Estate today due to the high level of development going on in that location.
Ibeju Lekki, is known to have a high yield on investment on capital, which is why many people today want to get land there to join those benefitting from their investments in that location.
The high number of projected developments in Ibeju Lekki are recognized as some of the most priced and expensive assets. Today, a plot of land in Lekki Phase 1 is up to 100,000,000 naira while the same plot cost as low as 5,000,000 naira some years ago. A plot of land at Ibeju Lekki can still be obtained for as low as 1,000,000 naira, but with the increased assets in Ibeju Lekki today, the cost of land in the future will project as high as the price of Lekki Phase 1, which is a high return on investment for people who are investing today.
But if you are buying land in Ibeju Lekki axis, you must do your due diligence from Alausa, before you commit your hard earned money into it.
