The current climate in Lagos State is challenging for property owners, real estate professionals, and related individuals or entities, as recent government activities have exposed numerous hidden frauds and other negative practices in the housing sector.
Real estate developers, realtors, and other stakeholders are facing significant difficulties in Lagos, with the state government frequently implementing new developments that impact the real estate sector. A few months ago, Lagos State Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Olumide, reported that 80 percent of buildings in Ibeju Lekki lack proper approval. He pointed out that much of the land in the Ibeju Lekki area are designated for agricultural use.
“The procedure to obtain approval involves first gathering planning information regarding the zoning of those areas. In this instance, we see agricultural land, yet people purchase this land from their families, not realizing government acquisition of the land,” he stated. This situation has led to several controversies over disputed Certificates of Occupancy (C of O) and ongoing land-related court cases. Buyers often find themselves facing unallocated lands and properties with documents that cannot be perfected, resulting in complicated legal issues.
Currently, demolitions are ongoing, and owners of multimillion-naira mansions in the Lekki/Ajah area live in constant fear, uncertain if their homes will be next to be demolished due to questionable government titles, invalid C of Os, missing building plans, proximity to canals or government easements, or pending court cases.
Given these challenges, it is crucial to conduct property verification before purchasing any property in the Lekki/Ajah corridors of Lagos.
Below are some of the Locations to Watch Out For:
Monastery Road: Prospective buyers should be cautious of Monastery Road, where lands are frequently sold with questionable title documents, fraudulent gazettes, and dubious governor’s consents. Many of these lands are reportedly owned by the Oba of Lagos, and unauthorized sales by developers could lead to serious legal tussle.
Chevron Extension: This area is plagued by properties featuring fraudulent governor’s consents and incomplete title documents. It is also affected by cloned Ojomu Deeds of Assignment, indicating widespread property-related issues.
Lekky County Extension: There are significant disputes concerning C of Os and ongoing land-related court cases in Lekky County Extension. Buyers often find themselves with unallocated lands and properties with documents that cannot be perfected, leading to extensive complications.
Behind LBS Sangotedo:The area located behind the Lagos Business School in Sangotedo is rife with land sales scams, including fake gazettes and unauthorized sales under false pretenses related to government schemes. The level of documentation fraud here is alarming. But there are some genuine real estate investments in the area and a lot of real estate firms with big names are selling genuine land there.
Okun Mopo and Mopo Ibeju: Dubious land sales are prevalent in Okun Mopo and Mopo Ibeju, where unsuspecting buyers often acquire lands that fall outside approved gazettes or lack proper C of Os.
Alpha Beach Road: Known for lands sold without title documents, buyers risk purchasing properties that are not included in the official gazette, which can lead to regrettable outcomes.
Igbanko Village, Badagry: Buying land designated for agricultural use in Igbanko Village can lead to demolition when the government decides to utilize that land. A perimeter survey alone is insufficient; it is vital to investigate the authenticity of the documents before purchasing.
Oko Agbon Village, Ibeju Lekki: Avoid purchasing property in this area, especially from any real estate company advertising on signboards, unless you are prepared to deal with significant challenges. Like doing proper due diligence on the property.
It is essential to exercise extreme caution when buying properties in these identified areas. While some of the lands in these regions may come with genuine documentation while many are fraudulent.
Key Scams to Watch Out For:
Selling with Fake Documents: This scam often involves meeting the supposed landowner, who presents seemingly complete and authentic land documents. However, these documents are fake, whether doctored title deeds or tampered survey plans. These scams can be particularly dangerous, as they may appear legitimate even to a professional.
Selling the Same Piece of Land to Multiple Buyers: This classic scam is prevalent in Lagos, particularly among ‘Omoniles’ (local landowners). Many Omoniles sell the same piece of land to unsuspecting buyers, making it crucial to conduct thorough verification.
Selling Land Without the Consent of All Owners: Scammers may attempt to sell land without obtaining consent from all legitimate owners, leading to further complications.
Proceed with caution and due diligence to protect yourself from potential fraud in the Lagos real estate market.
