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Wednesday 01 March 2023 00:57:27 GMT
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The 98 Villages Allocation: Why Every Landowner in the Axis Should Recheck Their Land Status Yesterday, I discussed the Lagos State Government’s allocation of land to 98 villages and what it means for landowners and investors. Today, I want to highlight an equally important issue. If you own land in Ito-Omu, Ibeju-Lekki, Epe, or any community affected by the recent allocation exercise, this is the time to reconfirm the status of your land. Why? Government allocation and the implementation of new layout plans can alter the planning framework of an area. In the process, some parcels of land may become committed acquisitions, that is, land reserved for public purposes such as roads, drainage systems, schools, hospitals, utility corridors, or other government infrastructure. A plot that was available for private ownership yesterday may now fall within a government-designated public use because of an updated layout or development scheme. This is why relying solely on an old survey plan, a previous search, or assurances from the person who sold the land to you may no longer be sufficient. As a landowner or prospective buyer, you should consider carrying out fresh due diligence to determine: * Whether your land is affected by the new layout; * Whether it has become part of a committed acquisition; * Whether its planning status has changed; and * Whether there are any new government restrictions affecting your property. Real estate is dynamic. Government planning evolves, and land records are updated to reflect new development priorities. Protecting your investment requires periodic verification, especially after significant government actions such as this. A simple verification today could save you from years of financial loss and legal disputes tomorrow. Don’t assume your land status is still the same. Verify it. #propertylawyer #samueltiamiyu #98villagesallocation #allocation
The 98 Villages Allocation: Why Every Landowner in the Axis Should Recheck Their Land Status Yesterday, I discussed the Lagos State Government’s allocation of land to 98 villages and what it means for landowners and investors. Today, I want to highlight an equally important issue. If you own land in Ito-Omu, Ibeju-Lekki, Epe, or any community affected by the recent allocation exercise, this is the time to reconfirm the status of your land. Why? Government allocation and the implementation of new layout plans can alter the planning framework of an area. In the process, some parcels of land may become committed acquisitions, that is, land reserved for public purposes such as roads, drainage systems, schools, hospitals, utility corridors, or other government infrastructure. A plot that was available for private ownership yesterday may now fall within a government-designated public use because of an updated layout or development scheme. This is why relying solely on an old survey plan, a previous search, or assurances from the person who sold the land to you may no longer be sufficient. As a landowner or prospective buyer, you should consider carrying out fresh due diligence to determine: * Whether your land is affected by the new layout; * Whether it has become part of a committed acquisition; * Whether its planning status has changed; and * Whether there are any new government restrictions affecting your property. Real estate is dynamic. Government planning evolves, and land records are updated to reflect new development priorities. Protecting your investment requires periodic verification, especially after significant government actions such as this. A simple verification today could save you from years of financial loss and legal disputes tomorrow. Don’t assume your land status is still the same. Verify it. #propertylawyer #samueltiamiyu #98villagesallocation #allocation

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