LAND MATTERS 21.0
Certificate of Occupancy (C of O): Pros and Cons.
Few weeks ago, like a seer, I wrote extensively on good reasons to invest in properties at Ibadan. Do you remember? At the end, I suggested you invest in Christal Villa, Kentop, Ebelu GRA then going for N800,000 per plot. It's my pleasure to inform you that it is now priced at N3 million per plot. That's about 400 percent appreciation. The deciding factor for this drastic change of price is that it now has a C of O.
Certificate of Occupancy (C of O) is evidence that the Governor of a State has granted a statutory right of occupancy as contained in Section 5 of the Land Use Act on a specific area of land. It vests on any holder, the right over that land for a definite term, usually a period of 99 years.
From experience, it is common to hear people insist on lands with C of O for obvious reasons. It guarantees the client of no mishap in future as well as demonstrates that the land is suitable and ready for occupation. That's about the benefits of a C of O. It is submitted here that experienced real estate investors do not subscribe to land with C of O for sound reasons.
First, they are usually highly priced. For instance, an investor who bought into Christal Villa will make massive returns in a split second when the C of O gets issued. Being long in the game, investors know that since they do not intend to occupy the land immediately, it is not prudent to go for land with C of O, business-wise. Besides, whereas C of O is for a definite term (99 years), other land titles are held in perpetuity for as long as such land right exist.
Is C of O really necessary? Absolutely, should you want a ready-to-build land! Do you intend to invest? Optimize profits! Opt for lesser land titles and play the waiting game.
These are lands for occupiers and investors for your consideration:
👉 Brooklyn Court
Location: Akodo Ise, Ibeju Lekki
Price: N800k per plot
Title: Excision File Number
Location: Akodo Ise, Ibeju Lekki
Price: N800k per plot
Title: Excision File Number
👉 Green Acre Court
Location: Akodo Ise, Ibeju Lekki
Price: N1M per plot
Title: Excision File Number
Location: Akodo Ise, Ibeju Lekki
Price: N1M per plot
Title: Excision File Number
👉 Lekki Vale Estate
Location: Beside the Proposed International Airport, Ibeju Lekki
Price: N5M
Title: C of O
Location: Beside the Proposed International Airport, Ibeju Lekki
Price: N5M
Title: C of O
👉 Grandeur Estate
Location: Abijo GRA, Ajah
Price: N10M per plot.
Title: C of O
Location: Abijo GRA, Ajah
Price: N10M per plot.
Title: C of O
Land available in other areas: Magodo, Ikorodu, Mowe, Shimawa, Arepo and outside Lagos at Ibadan, Port Harcourt, Abuja, Calabar, etc.
Contact: https://api.whatsapp.com/send?phone=2348034334692.
IG: @qlhomes.
