Can I Still Get A Genuine Land With C of O For N2.5million?
- Posted by Karo Itoje in Our Estates With C of O, Uncategorized
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A genuine land, a land that is free from any encumbrances and with proper title, C of O, how much does it sell for now?
Well, it depends on the location. But in major Nigeria cities such as Lagos and its environs, it’s almost impossible now to get at that price, N2.5million. Even in cities like Abuja and Port Harcourt it’s not very common. That’s why I am happy to be writing on this now because there’s a rare investment opportunity now (depending on when you’re reading this, this information might no longer be valid), where you can get a genuine land with C of O for only N2.5million in Abuja!
Why are Lands in Lagos with C of O so Expensive Now?
A major reason is because the C of O lands that are selling now in Lagos are allocation C of O. Although the C of O is the same as any other C of O, but today’s C of Os are not created the same way as the ones that already exist before now. What I mean is, before to get a C of O for a land, you follow an application process, complete it and get your C of O. However now the lands are being bought directly from the government and the C of O then automatically comes with the land being that it was purchased from the government. This type of C of O is called allocation C of O and it’s very expensive. Anywhere you hear allocation C of O, know that the developer has paid a whole lot to get the land from the government.
Why are they buying from the government and not the villagers as its commonly the case? It usually applies to areas where the government has a lot of interest which is the case with Ibeju Lekki and Epe areas of Lagos. If these developers don’t work directly with the government to acquire land in these areas, they could run into some serious trouble in the future. So to avoid that they go to the government for allocation titles, so estates such as Itunu Residential and Itunu City, Lagoonfront Estate, Marbella Estate and so on are directly bought from the government, which cost a lot of money. You don’t even want to know how much these developers are paying the government, and because the money is so big they usually pay it over a period of time.
Anyway now to answer the question, can you still get a genuine land with C of O in a good location for N2.5million a plot? While it doesn’t come around often, at the moment yes you can! There’s an estate one of our partners is selling now called Sun City Estate in the federal capital city Abuja, with Right of Occupancy that’s on prelaunch now for N2.5million. An Acre (6 plots) for N15million only. Here’s an introduction video of the estate. Please skip to 3:47 minutes of the video below to watch the video of the estate.
It’s been bothering me that properties have become very expensive because I know most investors can’t afford to pay N30million and above for just a plot of land. So I always look out for affordable properties for this reason. Even if you can afford to pay that much, it can be very profitable to vary properties in your portfolio. The money you would have used to buy one plot, you can use it instead to buy acres of land and bank. There’s no way the returns from a plot of land can ever compare to what you can make over the years from an acre or more. Also imagine having a property in the federal capital. It’s a flex on its own especially if you already have some in Lagos. 😊
Prelaunch prices ends November 20th, 2024. So act now if this interests you. Call/Whatsapp me on 09071070691 / 08067845791 to secure a plot or more for you before prices go up. I’ll be expecting to hear from you.
