When investing in real estate, especially in a bustling city like Lagos, it’s crucial to be aware of lands under government acquisition. These lands are often earmarked for specific purposes by the government, such as infrastructure development or public projects. Acquiring such lands without proper due diligence can lead to significant financial loss and legal complications. In this post, we’ll provide a detailed list of specific areas in Lagos under government acquisition, explain what this means for potential investors, and offer some tips on how to navigate these challenges.
What is Government Acquisition of Land?
Government acquisition of land refers to the process by which the government takes ownership of private land for public use. This can be for various reasons, including building roads, hospitals, schools, or other infrastructure projects. Once a land is under government acquisition, it is generally not available for private purchase or development unless the government releases it, which is rare.
Why is it Important to Know About Lands Under Government Acquisition?
Investing in land that is under government acquisition can be risky. Such lands are often sold at cheaper rates, attracting unsuspecting buyers. However, if the government decides to proceed with its planned project, any structures or investments made on that land may be demolished without compensation. Therefore, it’s vital to verify the status of any land before purchase.
List of Lands Under Government Acquisition in Lagos State
Here’s a detailed list of some areas in Lagos State that are currently under government acquisition:
1. Lekki Free Trade Zone Area
- Reason for Acquisition: This area has been acquired by the Lagos State Government for the development of the Lekki Free Trade Zone, a major industrial and commercial hub.
- Implications for Investors: The land in this zone is primarily intended for industrial and commercial purposes, and any private real estate development may face legal challenges. It’s advisable to avoid purchasing land in this area unless it has been officially released by the government.
2. Badagry Expressway Corridor
- Reason for Acquisition: The land along the Badagry Expressway has been acquired for the expansion of the expressway and related infrastructure projects.
- Implications for Investors: Investing in land along this corridor without proper verification could result in loss due to government demolition. Potential investors should consult with the Ministry of Lands and ensure the land has been properly documented.
3. Ibeju-Lekki (Around the Dangote Refinery)
- Reason for Acquisition: The area around the Dangote Refinery has been acquired for industrial development, including the refinery itself and other associated projects.
- Implications for Investors: This area is primarily designated for industrial use, and any residential or commercial development may be at risk. Investors should verify the land’s status before making any purchase decisions.
4. Oshodi-Isolo Industrial Area
- Reason for Acquisition: The government has acquired land in the Oshodi-Isolo area for industrial and infrastructural development.
- Implications for Investors: Investing in this area without proper checks could lead to legal disputes, especially if the land is earmarked for future government projects.
5. Epe (Some Parts)
- Reason for Acquisition: Certain parts of Epe have been acquired for agricultural development and other government projects.
- Implications for Investors: As Epe continues to grow as a residential and commercial hub, it’s important to verify the status of any land in this area to avoid potential conflicts with the government.
How to Verify Land Status in Lagos
Before purchasing any land in Lagos, it’s crucial to take the following steps:
- Conduct a Title Search: Visit the Lagos State Ministry of Lands to conduct a title search. This will reveal if the land is under government acquisition or if it has a valid Certificate of Occupancy (C of O).
- Hire a Surveyor: Engage a professional surveyor to survey the land and ensure that it is free from any government acquisition or encumbrances.
- Request a Land Information Certificate: This document from the Ministry of Lands will confirm the status of the land and provide peace of mind before making any investment.