by Christopher
Finding land for sale in Lagos is one thing; however, getting a great piece of land in Lagos without getting into legal battles or “damaging” your blood pressure is entirely different.
The average Lagosian knows people who have suffered some form of loss trying to purchase land in Lekki or other parts of Lagos, despite all the protection put in place by the Lagos State Government.
Sometimes it is not the fault of the victims. Dubious sellers take advantage of these victims and deprive them of their hard-earned money. However, other times, these problems can be narrowed down to unavoidable errors made during the purchase or documentation.
That is why this lengthy guide has been compiled to help you avoid most (if not all) of the pitfalls associated with buying land in Lagos.
Land for Sale in Lagos Island with Payment Plan
If you’re looking for land for sale in Lagos Island with high ROI potential, proximity to the city’s major transportation arteries, and situated in a choice estate, then Capital Gardens is the perfect place for you.
Capital Gardens by Nedcomoaks is projected to be Africa’s first fully solar-powered city that will house residential duplexes, commercial powerhouses, healthcare facilities, educational institutions, an artificial lake, recreational spaces, a Silicon Valley-like tech hub, and the largest waterpark in Africa. This is why it is the hottest-selling real estate property in Lagos, currently, after these best estates.
You can own 300-600 sqm of land at an affordable sum and spread the payment over 12 months. Capital Gardens is located at Idera, with proximity to some of the fastest-developing infrastructures in Lagos State Government.
To book an inspection now, call 07000200824.
Steps to Buy Land in Lagos Like a Pro (How to Buy Land For Sale Like a Pro)
If you search for “How to Buy Land for Sale in Lagos” on Google, you will see a myriad of good steps anyone can take to be a successful landowner.
However, some of those lists are bankrupt of certain procedures that should make your land purchase journey easy and error-free.
Below are some of the common steps for owning landed properties in Lagos, plus alternative steps if you’re buying from a developer:
- Determine the size of the land
- Set your budget
- Choose a location
- Find a reliable realtor or developer
- Hire a lawyer
- Inspect the land
- Conduct due diligence
(Verify ownership, confirm boundaries, check zoning laws, and ensure the land has a valid title) - Make payment & obtain the contract of sale
- Get the Deed of Assignment
- Registration and Other Documentations[Or Post-sales Documentation]
Step 1: Determine the size of the land
Choosing the size of land that matches your needs [and budget] is the first step in your land ownership journey.
In 2020, a Chinese manufacturing company sent representatives to establish a regional headquarters in Lagos, and they were seeking to collaborate with local developers with access to the size of land they needed at a certain location in Ikate.
Several contractors bid for the job, and Felix [not his real name] seemed the most likely to get it. Given the timeline of the bidding, he had gone ahead to take out a loan and buy a large parcel of land in preparation for the project.
However, close to the D-day of signing the partnership agreement, the deal was called off and given to someone else. Mr. Felix lost his mind and went behind to inquire why what had happened despite the assurances he had received from them.
You might not be Mr. Felix, looking to secure a contract. However, there are too many tales of people who, in one way or another, bought pieces of land that were either too small or too big for the project they wanted to execute. Don’t be one of them, because in this game, size does matter!
Step 2: Set Your Budget
This seems like a no-brainer, but setting your budget beforehand makes the purchase process faster and streamlines your options.
Call any qualified realtor or real estate agency today to get listings on land for sale, and their first question would be: What is your budget?
Pro tip—when you’re deciding on your budget, aside from the actual cost of the land, also factor in legal fees, agency fees, survey plan, cost of documentation, fencing cost, et cetera.
Step 3: Choose a location
Another important step to factor in your land acquisition journey is the location. Yes, you need land, but you NEED to settle on a location so as to avoid a wild goose chase.
Location is important because it determines the cost of said property and, in some cases, the authenticity of ownership. This also begs the question of the price of land in Lagos. If you want to own land in the best places in Lagos, consider the following prices of landed properties.
Price of Land in Lagos for Sale
The prices below are dynamic, but they represent the average benchmarked price of listed land for sale within Lagos.
Price of Land in Lekki Phase 1 for Sale
The price of land in Lekki ranges from 150,000,000 to over 800,000,000 depending on the size and availability of infrastructures like road network.
The price of land in Lekki Phase 1 is relatively high due to the luxurious infrastructure, prime location, proximity to commercial hubs, and the hype.
Price of Land in Epe for Sale
The price of land in Epe ranges from 9,000,000 to over 100,000,000.
Although Epe is less developed than Lekki or Ikoyi, it is beginning to see an influx of development and residents, hence the increase in the current value of land there compared to the prices a few years ago.
Price of Land in Banana Island (Lagos) For Sale
The average price of land in Banana Island is over 2,000,000+ per sqm. This explains why most investors pay nothing less than 500,000,000 for pieces of land that are barely wider than the palm of your hands.
This is not hard to explain as Banana Island is one of the most expensive places to live in Lagos, attracting HNIs like “old money” families, expatriates, business magnates, and celebrities.
Price of Land in Ibeju Lekki For Sale
The price of land in Ibeju Lekki ranges from 13,500,000 to over 100,000,000, depending on the size and nature of the neighborhood.
More developers are raising massive projects in Ibeju Lekki, and Lagosians are moving down en masse there to avoid the exorbitant and overcrowded parts of Lagos Island.
Price of Land in Orange Island, Lekki
A sizable land in Orange Island Lekki costs between 300,000,000 to a billion naira depending on several factors. Orange island is shaping up to become the Banana Island of Lekki due to its infrastructure and well-planned environment.
Some of the major projects around there include Brum Heights 7 and Oasis Heights, both luxurious projects that are pushing the boundaries of luxury living in the neighborhood.
Price of Land in Lagos Island For Sale
The price of land in Lagos Island is about 150,000,ooo in neighbourhoods like Lekki Phase 1. While it is considerably higher in more exclusive neighborhoods in Lagos Island, it is significantly lower in others like Epe and Ibeju-lekki.
Step 4: Find a Reliable Realtor or Developer
This is probably the best course of action to take if you’re looking to buy land in Lagos without any headache, especially with reputable real estate agencies and developers like Nedcomoaks.
Getting a realtor or land banking agency in Lagos, will reduce your chances of getting scammed by half. The realtor or real estate agency will ideally provide you with insight and grant you access to insider information your quest will benefit from.
But the best step overall is buying from a renowned developer like Victoria Crest Homes. More than just reducing your chances of being defrauded, it also expedites the transaction process and gives you peace of mind.
Step 5: Hire a lawyer
If you’re going on a sea adventure, without a ship navigator, you will get lost or shipwrecked even before you leave the shore. A land deal involves as much mental and legal rigour as a sea adventure. And there’s no one better equipped to guide you like a lawyer.
This is the most important step in your land acquisition process. This is because a lawyer can help you with the title verification, document drafting, oversee ownership transfer and provide necessary legal guidance.
Step 6: Inspect the land for Sale
You don’t want to experience the case of ‘what-I-got-vs-what-ordered.’ So, you must go for a physical inspection, see what you’re buying and confirm the land in question is exactly what you want.
Step 7: Conduct due diligence
Before you make any financial commitment in your land purchase journey, thoroughly investigate and verify all aspects of the deal. You don’t want to make payments and realise later on you’ve signed up for decades of court cases and high blood pressure.
Essentially, verify the title of the property, confirm the land zoning status, ensure the property is free from disputes, and check for any encumbrances.
Step 8: Make Payment and Obtain Contract of Sale
When you’re satisfied with the authenticity of the land and its ownership, the next step is to make payment and sign the contract of sale. The contract of sale is usually drafted by a lawyer for the seller or buyer. It outlines the price, land description, parties involved, and the obligations of both parties.
Step 9: Get the Deed of Assignment
Once payment has been confirmed, you and the buyer sign the deed of assignment to legally bind the transaction. Essentially a deed of assignment is a contract used to transfer ownership of a piece of land or property. You, the buyer, would have the original deed.
Step 10: Registration and Other Documentations [or Post-sales Documentation]
This step involves multiple steps, like obtaining:
- A survey plan from a certified surveyor
- The certificate of occupancy from the state government
- The Governor’s Consent if the land comes with a C of O
- The land purchase receipt from the buyer as proof of payment
- The tax clearance certificate from the LIRS
- If you’re buying the land from a developer in Lagos or the government, you will also need to obtain an Allocation Letter.
9 Documents you Need to buy Land For Sale in Lagos (Types of Property Titles and Land Documents]
Another major consideration for those looking to buy land in Lekki or any part of Lagos is land documents. Knowing the documents you need helps you make better decisions and avoid the pitfalls that plague those who have made mistakes in the past while buying land.
Certificate of Occupancy (C of O)
A Certificate of Occupancy is a land document that legally confers ownership on you. It is issued by the state government [in this case, the Lagos State Government] to confirm that the land is legal.
Deed of Assignment
The deed of assignment is a legal document that formalises the transfer of ownership from the seller to the buyer. It is signed by both the buyer and seller and serves as the official record of the transfer of ownership on both sides.
Survey Plan
One of the most important documents you need during the purchase is the survey plan. A survey plan is a professional document that delineates the boundaries, dimensions, and geographical location of the land. It helps you determine the exact area of land you are getting, to curb disputes and ensure that the land is correctly identified and recorded.
Land Purchase Receipt
Land purchase receipt is one of the most important documents in your land ownership journey. It is essentially a proof of your financial commitment. It confirms that you have paid the agreed sum and stands as an evidence of the financial exchange to seal the deal.
Governor’s Consent
If the land you’re buying has a certificate of occupancy, it is necessary to obtain the Governor’s Consent during the ownership transfer phase. The Governor’s Consent is just a formal validation from the Lagos State Government, without which the ownership transfer of land is incomplete.
Tax Clearance Certificate
This is a document for land issued by the Lagos State Internal Revenue Service [LIRS] or other tax bodies. It is the official proof that the landowner has no outstanding tax debt.
Deed of Mortgage
While mortgage is not yet a popular concept in the Lagos real estate market, some individuals have closed massive real estate deals backed by mortgages.
So, a deed of mortgage is a legal document created when a buyer takes out a loan to finance their land purchase in Lagos. It essentially states the terms of the mortgage loan and also assigns legal rights to the lender until the loan is paid.
Contract of Sale of Land
The contract of sale is a binding written agreement between the seller and buyer that specifies the terms of sale and outlines the obligations of both parties.
Letter of allocation
A letter of allocation is another legal document issued by the government or concerned bodies that confers ownership of a particular piece of land to a party (an individual or a group).
This letter gives the recipient the right to occupy and develop the land within the confines of the agreed-upon building plan. In the possession of the seller, it grants them the legal right to transfer ownership of the land to other parties.
How to Find Land for Sale in Lagos
Getting land for sale in Banana Island or any other place in Lagos is relatively easy if you know where to look. Below are some of the places you can get help with your land search:
Online Property Portals
If you search for “Land in Lagos for sale”, you will find several proptech platforms listing plots of land with their individual information. These platforms include property portals for listing, social media accounts, and a Google My Business page. Transacting on these platforms is risky, especially if you’re doing a bulk purchase of land.
Some of the property platforms for landed properties in Lagos include Capital Gardens, Privateproverty.ng, and Nigerian Property Center.
Real Estate Agents and Property Brokers
In your search for the perfect land for sale in Lagos, your path would most likely cross with real estate agents or brokers. These individuals usually have deep knowledge about the Lagos property market, are connected to property owners, and can assist you in manoeuvring negotiations and paperwork. You can find agents online or ask your network for recommendations.
Government and Corporate Land Sales
Corporate organisations, the Lagos State Land Bureau, and government organisations often allocate or sell land to individuals. The advantage of buying from this group is that they have a better legal framework and are often located in planned estates.
Other Places You Can Find Land for Sale in Lagos
The aforementioned are some of the best ways you can find land for sale in Lagos. But you can also find land in local newspapers, through networking, estate developers, land auctions, real estate exhibitions, and physically visiting the neighbourhood of your choice.
10 Mistakes to Avoid When Buying Land in Lagos For Sale [How to Avoid Land Scams]
Improper Property Vetting
One of the major mistakes people make when buying land is a lack of due diligence. You need to thoroughly verify the legal status of the land and check for existing encumbrances. You don’t want to risk buying disputed land or buying one whose title is not legal.
Skipping legal guidance
Due to the often high legal fees involved, some people avoid using lawyers to cut costs. While this is understandable, at the end of the day, you will still pay a price for carrying out the deal without legal counsel. Many have tried and regretted it.
Failure to register with the relevant authorities
It is not enough that you buy the land and have the contract of sale. Some people have made this assumption and when push came to shove, they were found wanting; either because someone else had bought the same land after them and went registered with authorities, or for other reasons.
The point is, it is a big mistake to buy said land and not register it with the proper authorities [find out the proper authorities and add a link to reach them].
Neglecting faulty documentation
One of the biggest mistakes you can make when buying land for sale in Lagos is buying property with faulty or incomplete documents. Many people have done this and regretted it.
Their story is always that they either trusted the owner or felt it wasn’t a big deal. IT. ABSOLUTELY. IS. Regardless of how well you trust anyone, do not buy land that opens you up to court cases or land seizure.
Buying land without Documentation
In the mistake above, people buy land with incomplete or forged documentation. But this is probably the worst mistake you can ever make: buying land that doesn’t have any form of documentation.
It is better to go the bank, withdraw the exact amount for the land, take the money to the lagoon and dump it there, rather than buying land without documentation in Lagos.
Poor budgeting
One rookie mistake people make when searching for lands for sale in Lagos is assuming that the price of the land is the “last of it.” With this assumption, they attempt to let’s say buy a plot of land of 40 million with only 42 million in their possession.
In the middle of the deal, they’d discover extra costs like legal fees, taxes, government charges, and other miscellaneous fees. This usually leaves them in debt or makes them unable to carry out some documentation, which will haunt them in the future.
Skipping physical inspection
One of the common mistakes people make when looking for properties is believing everything they see and are told online.
So they buy properties and when they finally go to check it out, they realize that the said property is either in an inaccessible location, in waterlogged environment or worse, the property neither exist or belong to the advertiser. Take precaution, this should be your first point of due diligence; if you haven’t seen it, don’t buy it (unless the seller is a reputable brand with stellar track record).
Ignoring zoning regulations
Do not make the mistake of ignoring zoning regulations. Some people have done that and faced problems like as legal battles, inability to use the land as intended, decrease in property value, conflict with neighbours, and varying government sanctions.
Other mistakes to avoid when buying land for sale in Lagos includes: neglecting to obtain a survey plan, buying land in high-risk location, not securing a land purchase receipt, failing to use contract of sale, ignoring the land’s tax status, making partial payments without documentation, trusting unreliable agents and owners, etc.
Taxes and fees involved in land transactions in Lagos (Fees Paid When You Buy Land in Lagos)
Consent Fee (Governor’s Consent)
This is a fee paid by the buyer to the state for obtaining the Governor’s consent, which is necessary for transferring ownership of land. It is required for all land transactions, especially those within the reach of the Land Use Act.
The consent fee is usually 2.5% of the land transaction value
Stamp Duty (Property Purchase Tax)
Stamp duty is the tax on transaction documents like deed of assignment. It is required for all property types and is paid for by you… the buyer. The stamp duty fee in Lagos is 1% of the property’s purchase price.
Legal Fees
Legal fees are payments made to your hired lawyer for preparing and reviewing all necessary documents, carrying out due diligence, and ensuring all aspects of the transaction are legal and benefit you.
Registration Fee
This fee covers is for registering the land transaction at the Lagos State Land Registry, to legalize your ownership and the transaction. Registration fee is usually between 0.5% and 1%.
Survey Fee
This fee is paid when the property needs to be surveyed or requires an updated survey. It is paid by the buyer to a surveyor who measures and records the boundaries of the property to avoid future disputes. Survey fees in Lagos are usually between 1% to 3% of the property value, in most cases.
Agent/Agency Fees
Agency fee is the sum paid to the realtor or broker who connected the buyer and seller and facilitated negotiations. The fee is usually between 1% to 10% depending on the value of the property purchase, and is usually paid by the seller or in some case, the buyer.
Land Use Charge
The land use charge (also called LUC) is an annual fee imposed by the Lagos State Government for the use of land in the state. Proceeds from this is used to fund public service and infrastructure maintenance. It is usually paid by the owner of the land and ranges from 0.1 to 1% of the land value per year It is different from the less-popular Ground Rent.
Property Insurance
Property insurance is a smart financial commitment that secures the land from risks like flood and other damages that affect the value of the property. Insurance premiums for this range from 0.1% to 0.5% of the property value and is paid annually. This is not compulsory but comes into play if both parties agree to it or the transaction is being financed by a mortgage.
Valuation Fees
Valuation fees are paid to a property valuer to ascertain the market value of the land. While this is not compulsory for every land transaction, it is necessary if you or the owner need the correct valuation for mortgage processes, tax assessments, or other reasons.
The valuation fees are usually around 0.5% to 1%.
Capital Gains Tax (CGT)
Capital Gains Tax is taxed on the profit made from the sale of the land. This is invariably paid by the seller and usually 10% of the extra amount made by the seller, compared to the amount they paid for the land
Transfer Tax
This can vary, but it is often part of the stamp duty or Governors Consent fee. It is paid by the buyer. While the tax refers to stamp duty and consent fee. It could also apply to other federal or state taxes on property transfer.
5 Advantages of Buying Land in Lagos for Sale
Investment Opportunity
It is a known fact that land appreciates with time, which typically makes it one of the most reliable long-term investments. For most people who bought land for sale in Lagos years ago, stories of returns generated from sales of said properties will leave you stunned.
How you can use Land for Investment in Lagos
Most people buy land in Lagos to build projects on it. However, others buy land for investment purposes, such as:
- Residential development
- Commercial development
- Growing crops, raising livestock, or engaging in other agricultural activities
- Recreational use
- Land banking, etc.
Low maintenance
Unlike most property purchases in Lagos and around the globe, land costs little or nothing to maintain. Most people go overboard to fence the land and put up signs to ward off land grabbers. But essentially, some investors who bought land 10 years ago haven’t changed a thing about it to date.
No depreciation
Another major advantage of owning land is that, unlike most properties, land rarely depreciates. It can maintain its value or skyrocket in value, but going down in value can only happen through a change in infrastructure, zoning structure, and socioeconomic conditions.
Diversification of portfolio
Owning land is one of the best ways to diversify your investment. No sensible investor puts all his capital on one opportunity alone. No, spreading them across investment classes makes you twice lucky, especially if your portfolio has the right balance of risk and returns.
Inheritance and legacy
Another major advantage of owning land is the inheritance factor. If legacy means anything to you, it is important to leave a piece or more of real estate properties for your kids or significant other. This will ensure they have a long-term and reliable investment that can serve them in more than one way.
Conclusion: Did This Answer Your Questions On How to Buy “Land for Sale” in Lagos?
Of course, this is guide does not automatically make you a pro. Neither does it mean you don’t need help from realtors and legal representatives to process your land deal. It is our hope that you now know enough to ask all the right questions and have a comprehensive checklist, while buying a land in Lagos.
FAQs
How much is 1 plot of land in Lagos?
The average price for a plot of land in Lagos is 50,000,000. However, the price is highly dependent on location; in places like Alimosho, you can buy a plot of land for at least 2,000,000 – 10,000,000, while you’d get a similar size for at least 50,000,000 in Victoria Island or Ikoyi.
Can I buy land in Lagos and pay instalments?
Yes, you can. There are proptech startups in Lagos who facilitate that and real estate companies like Victoria Crest Homes making it possible for you to buy landed property in Lagos and pay instalmentally. Call 08097888882 for more enquiries.
How much is land in Nigeria?
The price of land in Nigeria is between 500,000 to over 200,000,000 depending on the location, size, and owner.
How many plots is 1 Acre?
1 acre is equal to 6 plots of land in Nigeria, where a standard plot is considered to be 600 square meters.
To break it down:
- 1 acre = 4,046.86 square meters
- 1 plot = 600 square meters
Thus, 1 acre divided by 600 square meters per plot gives approximately 6.7 plots, which is usually rounded down to 6 plots.
Where is the best place to buy land in Nigeria?
The best place to buy land in Nigeria is Lagos. Lagos is Nigeria’s top commercial hub, teaming with a predominantly youthful population, an ROI-rich real estate, plus architecture suited for the smart 21st century African. This means the commercial and residential possibilities of land in Lagos is vast, almost as high as the return on investment.
How many years can you own land in Lagos?
Typically, you can only own landed property in Lagos for 99 years according to the Land Use Act and supporting legislations. Unless you’re acquiring a freehold land that is devoid of this legislation, but subject to other obligations.
What happens after a 99-year lease in Nigeria?
After the 99-year lease, the land automatically reverts to the government. But you can also renew the land after the government has done a revaluation. However, there is still a high possibility of being evicted and/or compensated when your lease on the land expires.
How much is the land use charge in Lagos?
Land use charge is usually 0.394% of most land types—residential, commercial, or other vacant lands. You can find more info at the Lagos State Government website.
How is the land use charge calculated?
Land use charge is usually calculated the multiplying the property’s market value by the annual charge rate. Or, according to the Lagos State Government’s website, you can calculate your Land Use Charge using the following formula: LUC = [(LA x LR) + (BA x BR x DR)] x RR x CR
LUC: The annual Land Use Charge (LUC) in Naira for a land parcel.
LA: The area of the land parcel measured in square meters.
LR: The average market value per square meter of a land parcel in the neighbourhood, as determined by professional valuers appointed by the Commissioner.
BA: The total floor area of any building or apartment unit on the land, measured in square meters, or the total floor area of a separate apartment unit.
BR: The average construction value of medium-quality buildings in the neighbourhood, per square meter, determined by professional valuers.
RR: The tax relief rate, if applicable, for owner-occupiers, which is determined by the Commissioner and published in official documents. This relief is reviewed every five years.
CR: The annual charge rate as a percentage of the market value of the property, which can vary based on property type, occupancy status, and other factors like age or disability.
DR: The depreciation rate for buildings and improvements, which considers factors like the building’s condition, quality, and degree of completion compared to others in the neighbourhood.
What does a C of O cost in Lagos?
A C of O in Lagos costs about #100,000, depending on the land size, location, and property type. However, you are more likely to get a C of O for 500,000 and above than for less.
Can I pay the land use charge online to the Lagos State Government?
Yes, you can pay for land use charge online through this Lagos State Land Use Charge Portal and other verified channels.
How Do You Calculate the Land Amount or the value of the land?
The land amount is calculated based on the market value, size, and location of the land. Market value is what similar plots are being sold for, while size refers to square meters, acres, and hectares
How is a plot of land calculated in Nigeria?
A plot of land in Nigeria is commonly measured in square meters or acres.
In urban areas like Lagos, the most common size is 60ft by 120ft (18.29m x 36.58m), which is equivalent to 648 square meters.
One plot is often taken to be 600 square meters, but this can vary in rural areas.
How Do You Count Land?
Counting land typically refers to measuring its size or area (in square meters, feet, acres, or hectares) or counting the number of plots (e.g., if one plot is 600m² and you have 3 plots, that’s 1,800m²).
How to Check Lot Size
To check the lot size (area of land):
- If you have access to the land documents (deed, survey plan), they will list the exact area.
- If you don’t have documents, hire a licensed surveyor to measure the land.
- You can also use measuring tools (e.g., tapes, laser distance measuring tools) if you want to measure the land physically.
How to Get the Cost of Land?
To get the cost of land, check with:
- Real estate agents in the area
- Online property portals (e.g., PropertyPro.ng, Jumia House)
- Local government land offices for current rates (e.g., Lagos Land Registry)
Prices can vary significantly based on the location and development around the land.
What is the easiest Way to Measure Land?
The easiest way to measure land is:
- Using a measuring tape for small areas
- Using a GPS or laser measuring tool for more precision
- Hiring a surveyor for accurate measurements (especially for larger plots)
How Much is One Plot of Land in Lekki?
The cost of land in Lekki, a highly sought-after area in Lagos, can vary based on location within Lekki and proximity to major roads or developments.
As of 2023, the price for one plot in Lekki can range from ₦20 million to ₦100 million or more, depending on the location (e.g., Lekki Phase 1, Lekki Free Trade Zone, etc.).
What is the Standard Size of a Plot of Land in Lagos?
The standard size for a plot of land in Lagos is 600 square meters, though it may vary. Some areas use 648 square meters as the norm.
How Much Area is a Plot of Land?
In urban areas like Lagos, one plot of land is commonly considered to be 600 square meters (approximately 60ft by 120ft or 18.29m by 36.58m).
In rural areas, the size may vary, but it is often around 1,000 square meters or more.
How Much Does It Cost to Clear a Plot of Land in Nigeria?
The cost to clear land (e.g., removing bushes, trees, debris) in Nigeria typically ranges from ₦50,000 to ₦200,000 depending on the size and condition of the land, as well as the location.
How Much is the Legal Fee for Land Purchase in Nigeria?
Legal fees for land transactions in Nigeria typically range from 1% to 3% of the total value of the land.
This fee covers the legal services required for the deed of assignment, contract drafting, and other legal documentation related to the purchase.
What is the Difference Between Acres and Hectares?
- 1 acre = 0.4047 hectares.
- Conversely, 1 hectare = 2.471 acres.
- Acres are commonly used in the United States and the UK, while hectares are more commonly used in countries that follow the metric system, including Nigeria.
