How To Overcome The Challenges Of Land Acquisition In Lagos

Gabriel Ama·July 12, 2024·Home Buying Tips·1 min·

Land acquisition in Lagos State, Nigeria, can be complex, but investors can navigate the challenges effectively by following these steps:

Due Diligence: Before purchasing land, conduct thorough due diligence. Verify the land’s ownership, title, and history. Engage a legal professional to review documents and ensure there are no encumbrances or disputes.
Survey and Measurement: Hire a licensed surveyor to accurately measure and demarcate the land. Confirm that the survey aligns with existing records and boundaries.
Title Verification: Check the land’s title status. Titles can be freehold, leasehold, Certificate of Occupancy, Governor’s Consent or customary. Ensure the title is valid and transferable.
Community and Government Approval: Obtain community and government approvals. Lagos State has specific regulations for land transactions. Compliance with the Lagos State Real Estate Regulatory Agency (LASRERA) is crucial.
Land Use and Zoning: Understand the land’s designated use (residential, commercial, industrial, etc.). Zoning laws affect development plans.
Environmental Impact Assessment (EIA): For large-scale projects, conduct an EIA to assess environmental impact. Obtain necessary permits.
Payment Structure: Negotiate payment terms with the seller. Consider installment payments or escrow arrangements.
Legal Assistance: Engage a real estate lawyer to handle legal aspects, including drafting contracts, conducting searches, and ensuring compliance.

Remember that each land acquisition case is unique, that is why at Zuzlon Properties Limited, we are a team of experts in Land and Properties acquisition with years of professional experience to help you in making the right choice.

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