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Committed Acquisition

Posted by Danbel Properties Investments on November 25, 2023
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Communities at Agbado/Oke-Odo Local Council Development Area.
Communities at Kosofe Local government area., Oworonshoki.
Communities at Mushin Local government area, Idi araba.

These are examples of a few areas in Lagos the state government have been demolished, leaving people displaced without homes and no alternatives… but why ?

Keep up with me here …

When buying land, one of the most important if not the most important aspects of such transactions is the documentation on the title, the Land Title.

Land Titles

A Land Title is the evidence of a person’s rights to or ownership of land (the deeds or certificate of ownership) or the ownership itself, depending on the context. It is an official record detailing who the owner of a piece of land is.

To simplify, land title serves as proof of ownership in real estate, without this document, making a financial commitment to the effect of purchasing real estate, is equivalent to effectively squandering your money.

It is important to note that by default all land within a state belongs to the state governor, a land title of which we refer to as “Global acquisition”
this simply means that state government has not decided what to do with the land just yet, they can decide to:

  1. Excise the land to the public for general use (General land acqusition) available to the public for personal use
  2. Excise the land specifically for agricultural purposes (Agricultural land acquisition) available to the public for agricultural use
  3. Excise the land specifically for government initiatives (Committed acquistion) never available to the public, as it has been dedicated to future government projects.

This is where the problem lies “Committed acquisition”

Committed acquisition lands are lands that the government set apart solely for the purpose of future government projects, they are never available for public use
as these lands have been dedicated for official use.

An example of a committed acquisition is the 3500 hectares of land dedicated to the Lekki- Epe international airport, located in the Ibeju Lekki – Epe axis, if you were to acquire and build on this land, in that specific area in the Ibeju Lekki – Epe axis, that has been mapped out for official use, the government will declare it an illegal structure and demolish it without reparation.

A number of demolitions happening in Lagos are a result of erecting structures on committed acquisition lands, people are losing their homes, investments and more because they have not done their due diligence.

The Lagos state government often advises individuals to always run a background check with the appropriate authorities,
before making a financial commitment to any land.

Conclusion

Does this mean there is no longer any land available for sale in Lagos ?

Absolutely not ! You just have to do your due diligence

Here at Danbel we take measures to ensure that all our properties are free from encumbrances, when our clients want to make a financial commitment we encourage them to run a background search
on the property in question, to ensure they are no problems with the property before a purchase, we are sure and we want you to be sure. Take a bold step and go with us, we have lands in Epe and Ibeju Lekki free from committed acquisition, ready for you to purchase for investment, residential or commercial purposes.

Avalanche Hill Park – Eredo Epe

5,050,000 – 500SQM

3,050,000 – 300SQM

Avalanche Park Estate – Igbogun Ibeju Lekki

3,700,000 – 600SQM

2,700,000 – 300SQM

Think Investment, Think Real Estate, Think Danbel.

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