Buying Land and properties in Abuja Nigeria >>>
Abuja has been experiencing a housing boom over the past years. Developers have been investing greatly in new, modern homes, Residential and commercial buildings.
Abuja Real Estate has proven to be one of the most lucrative
investment opportunities currently available in Abuja the Federal Capital of Nigeria
with low variability of returns. Nevertheless, investors must be aware of the somewhat
long tenure of holding period that may possibly be required. Location of such property usually has an
important effect on the holding period required.
Federal Capital Development Authority FCDA allows any company, individual, Nigerian or non-Nigerian to buy Land property rights for maximum of 99 years, on condition that the purchase is declared to the government in advance.
If you are planning to secure land in Abuja keep a few things in mind to ensure all goes smoothly:
Who owns the land or property?
You need to validate that the person/group you are buying real estate from is the correct titleholder because There have been several instances of land being sold by unlawful owners, or being sold to more than one buyer at a time. To safeguard you make sure a land title assessment is done at the appropriate government office which is (AGIS) Abuja Geographic Information Services, and a land valuation is also executed. There is usually a fee for these which are paid for at the purchaser’s expense.You need to analysis or review all property documents by yourself, and include yourself in all stages of the property buying process.
As an extra protection, you need to have an independent lawyer to analyse your documents before you make payment for the property.