The real estate market in Nigeria is rapidly evolving and most developers are beginning to adopt the offtake system of purchasing a property. An offtake agreement is an agreement that a buyer makes with a developer. The developer agrees to sell the property at an agreed price while construction is in progress. An offtake agreement usually occurs before or during the construction of the property.
Buying a property at offtake has tremendous benefits such as the following:
For the Buyer
An offtake agreement allows you to buy at a comparatively lower cost, which appreciates in value once construction is completed. Offtake prices are typically lower than the cost of a fully constructed property.
Buying at offtake allows you to save more and as a plus, you benefit from instant value appreciation of up to 10% once the building has been completely constructed.
An offtake agreement functions as a hedge against future price fluctuations. As an offtake buyer, you’re insulated from fluctuations in the money market, for instance, weakening of the naira against the dollar.
Buying at an offtake allows you the freedom of expression. You’re given room to voice your expectations, tastes and what you want in terms of designs required in your building. This saves you the extra cost of renovating an already constructed building to suit your taste.
The developer also benefits from the offtake agreement in the following ways:
For the Developer
An off-taker purchase allows the developer to recoup a large chunk of their investment and prevents long-vacant periods after construction. It’s common to see buildings stay vacant for up to three years after construction, in which they’d have to factor in depreciation. The system also allowed for a reduction of void before the building is constructed. Offtake agreement facilitates the easy transition from construction to occupancy and increased value of the property.
The offtake agreement gives the project the extra nudge to guarantee the completion of the project in the future.
Inspired by the warmth of home and the love of lavish living, SEVIC PDC brings you a paradigm of urban living; aligning the finest elements into developing LekkiVale Estate in Ibeju Lekki. LekkiVale Estate succinctly captures the heart of luxurious, scenic living in one location – Lekki Free Trade Zone, Dangote Refinery Lekki, La Campagne Tropicana Beach Resort, Deep Seaport and many more. From our prime homes optimized to deliver exceptional comfort, to our secure lush lands. LekkiVale is an aspiration of ALL home patrons across the country.
LekkiVale creatively blends nature and modern architecture. Here, stylish apartments overlook lush greeneries, skillfully demarcated by well-paved roads and magnificent street lights. Our homes are fully constructed and finished.
WHY CHOOSE LekkiVale Estate?
LekkiVale Estate is located in one of Lagos’ fastest growing regions at Ibeju Lekki. Lekki is fast transforming into West Africa’s most successful and prosperous residential zone. This economically thriving zone is home to some of the finest schools, restaurants, hospitals and road network systems in Lagos. Owning a home at LekkiVale Estate places you at the centre of it all.
Education and Workforce
The Lekki region is home to some of the best primary and secondary schools in Lagos like the Greensprings School, Corona Schools Lekki, Pan-Atlantic University, and Lagos Business School (LBS) amongst others.
The Lekki region is home to some of the most highly qualified workforce is Lagos, making it a great location for networking.
Nearly 50% of Lekki – Ibeju Lekki’s residents are employed in high-value knowledge jobs
Ibeju Lekki is recognized as a fantastic and serene place to live and raise a family.
LekkiVale Estate features
Finance and Business
LekkiVale Estate is strategically located to provide unprecedented connectivity to Sangotedo, Lakowe, Ikoyi, Victoria Island, Lagos Island, Lekki and the rest of Island.
The Ibeju Lekki area is just a few kilometres from the bustling commercial streets of Lekki and Victoria Island; both of which are Lagos’ commercial centres.
Ibeju Lekki is filled with branches of various banks, with ATM spots easily accessible.
Easy and fast connectivity to the rapidly growing Ibeju-Lekki region.
LekkiVale Estate is strategically located on the Lekki corridor, bordered on the West by Lekki Free Trade Zone, Dangote Refinery Lekki, La Campagne Tropicana Beach Resort, Lakowe Gulf course, Funtopia Park and the Atlantic Ocean to the South. LekkiVale Estate gives you all it takes to experience a vacation on a regular day.
LekkiVale Estate benefits from excellent road connection to the Lekki-Epe Expressway way linking to Lekki, Ikoyi, Victoria Island to the west and Epe to the east. LekkiVale Estate is essentially a convergence of two rapidly growing economic strongholds of Lagos; Lekki and Ibeju-lekki.
…a brilliant new way to invest in real estate
Nestling between the thriving Lekki V.I region and the emerging Ibeju-Lekki area is a 10km2 site in the heart of LekkiVale Estate currently undergoing an incredible metamorphosis.
LekkiVale Estate offers you a once in a lifetime investment opportunity with a possible ROI of 20% in just two years.
Location:LekkiVale Estate is located in rapidly developing region with existing infrastructure like the gatehouse, roads, paved roads, working drainages, power, clean water, 24-hour security patrols, and the serene beautiful golf course.
LekkiVale Estate is also a few kilometres from the emerging Ibeju-Lekki region, which is expected to generate over than 70% of Lagos wealth by 2025. Easy accessibility to Victoria Island, Ikoyi and the rest of Lekki.
Occupancy Rate: LekkiVale Estate is located within Ibeju Lekki with an estimated occupancy rate of 60%, half of which is being constructed. The region has a high occupancy rate with most of its houses and lands selling out within a period of 12 months; coupled with the annual population influx rate of 3.2% in Lagos and the projected 800,000 expected to move to Ibeju-Lekki.
Security: LekkiVale Estate offers a solid and safe investment option with a valid C of O. Authentic and hassle-free property documents.
Flexible payment plans: 10% initial payment and balance spread over 12 months.
LekkiVale Estate Features
There’s never been a more perfect time to invest in real estate.
Comparison between investing in LekkiVale Estate and Money Market Instruments.
*This table below shows the proposed ROI on LekkiVale Estate in comparison to Treasury bills and Time Deposits.
Yield on outright purchase
Yield on instalment purchase
Yield on Treasury Bills
Yield on Time Deposits
Time Deposits interest rates are set at the Banking sector average of between 10-12% for 365 days
Treasury Bills interest rates are set at CBN average at 13.5% for 365 days
ROI on LekkiVale Estate increases yearly in response to value appreciation and an increase in demand for houses in the region.
Immerse yourself in true moments.
Here, neighbours become friends, moments turn into memories and weekends feel like holidays.
Every aspect of LekkiVale Estate radiates a lifestyle of sheer relaxation and soft elegance, well deserving for you and your family.
From our modern buildings to our unmatched amenities offering:
A central connection of treated running water
24 hours centrally generated power supply
Well paved roads and covered drainages
Top notch 24 hours security and access control
Green areas and Kids Park
…revel in peace and tranquillity.
Drive from the uproars of city life into a veneer of nature. Here, rich horticulture flow within the large spaces between buildings.
Getting to and from LekkiVale Estate couldn’t be more convenient given its strategic location. LekkiVale Estate is a 10 minutes’ drive from the Lekki-Epe Expressway, which connects to the rest of Lekki, Ikoyi, V.I and Lagos Island environs. It offers quick access to public transportation and only 30 minutes from the proposed Lekki airport.
With over 200 plots available at LekkiVale Estate. The plot sizes here range from 450m2 to 600m2. Don’t miss out of this unique opportunity to build your dream home or get the ultimate real estate investment. LekkiVale Estate has a valid C of O, making this property truly remarkable.
A VIBRANT, SIZZLING NEIGHBOURHOOD
In an area brimming with life and colour, your neighbourhood is a reflection of the fountain of youth, a thriving economy and the fresh familiarity of nature. Choose an apartment from a variety of arrangements and be a part of a neighbourhood that offers something for everyone.
LekkiVale Estate showcases ultra-modern, power saving architectural structures, designed to deliver world-class housing standards. At Sevic PDC, we offer you SIX free architectural designs to choose one from. This is to eliminate the lengthy and stressful process of conceptualizing, designing and building your dream home. Our unique designs save your money, spares you time and take you one step closer to the development of your home.
Your hopes of LIVING IN A MASTERPIECE – begins with ONE DECISION.
Sports / Recreation Area
In addition to our beautifully structured community, LekkiVale Estate strikes the perfect balance between Work, Life and Play. Our multi-sporting centre is equipped with a gymnasium, pool, tennis court and basketball court. Our goal is to give you the opportunity to explore, get physically active with friends and family.
At LekkiVale Estate, we make your weekends feel like a vacation. Our generously placed gardens and green areas give you the soothing aroma of nature. You get to invite friends over for a game, get the family around for a barbecue or simply stroll down the serene walkways. Here, nature is a step away.
Well Planned Layout
LekkiVale Estate is carefully structured and designed to deliver a holistic living experience. We have positioned jogging trails, strategic green zones and a commercial centre at the heart of the estate for easy access and shopping. It promises to meet your every need, placing street lights along the pavements and daily maintenance of all common area.
ACCESS CONTROL & TOP NOTCH SECURITY
We offer a 24/7 state-of-the-art security system, you can truly have peace of mind and the best in secure living. Our security system includes:
Lagos is no stranger to housing deficit in Nigeria and real estate challenges. The state is estimated to require about three million housing units to resolve its growing housing deficits. In a bid to tackle this housing and real estate challenges, the Lagos State government has set in motion, plans to provide 20,000 units of houses across Lagos state.
However, the growing number of unsold housing units in certain areas tell a different tale about the growing housing deficits and real estate obstacles. It appears that the problem isn’t so much lack of housing but lack of affordable housing. Some properties remain in the market for years and even months without a buyer. Areas like the Banana Island, Ikoyi and Victoria Island tend to command high property prices with some properties accepting foreign currencies as payment. While the supply for the high-end property has seen a steady rise, the demand for these properties hasn’t risen proportionately to its supply.
This is partly due to the recent recession, fall in oil prices, weakening of the naira against the dollar, a high cost of land and building cost. In addition, financial institutions and mortgage firms are lagging behind in providing adequate buying support. As a result, these high-end properties are shunned for more affordable alternatives, further deepening the housing challenges.
A close examination of the real estate market in Lagos shows that, although there’s a growing demand for homes, the real demand is for affordable homes. Affordable housing is fast becoming out of reach to the medium to low income earners, who are unable to keep up with the high costs of rents and houses.
LekkiVale Estate features
At Sevic PDC, we’ve carefully identified these loopholes and we’re developing houses to tackle the average Lagosians’ housing and real estate challenges. In developing residential developments, our main focus is affordability, comfort and sustaining world-class standards. All our estates are developed with the comfort and pocket of the average Lagosian in mind. We’ve set in motion the following strategies to make your dream home a reality:
We are partnering with various mortgage institutions to provide a sustainable system where home buyers can readily access finances and choose a mortgage plan that best suits their budget. At Sevic PDC, your dream of owning a home is one call away through improved mortgage plans.
Rome wasn’t built in a day; just like your dream house isn’t going to be built in a day. Our homes are built to suit your taste and your specifications. We let you choose the type of house you want in the desired location. The added advantage of value appreciation is, after your house is been fully constructed, it appreciates by at least 10%.
Whether you’re a business person, a single person, a full-time worker or a stay-at-home mom, we all want our homes to be comfortable and luxurious. When it comes to choosing where to live, several factors come to play other than the building itself. So far, Lekki emerges as one of the most suitable locations to live in Lagos. Lekki offers proximity to good schools, restaurants, malls, hangout spots and churches making life comfortable and convenient.
LekkiVale Estate features
All our estate imbibes comfort and luxury, providing the following amenities:
24-7 Power and water supply
Exceptional view of refreshing green areas
Street Lights and paved roads with provision for jogging trails
Well-Landscaped Areas and Green Recreational Areas
Fully equipped gymnasiums, tennis court and basketball court
Young, dynamic neighbourhood.
Most of our constructions are ongoing. Check out our top selling estate at www.lekkivale.com
Your next house is just one call away. Call us today 09081234564, 09095757575 and we’ll walk you through the entire process of picking your dream home at the most affordable rates in Lagos.
Urban living can subject you to a boxed life. From a box-like room to a box-like car to a boxed office environment with little or no greenery. There’s increasing proof to correlate nature and mental wellness in humans. Several studies show that people who spend time in a greenery experience the feeling of enchantment and relief.
Here are some fascinating benefits of nature on your health and longevity:
A study done in the Netherlands found that people who had access to green spaces in their neighbourhood reported better mental health, a better quality of fresh air and generally felt happier than residents in high-rise buildings with little or no greenery. More research links green spaces, particularly those that feature water parks with emotionally stable residents. If you’re looking to be calmed by nature’s soothing touch, choose a neighbourhood that has green spaces. A walk in the park might just take the edge off on rough days.
Nature can reduce your Stress
Some days come packed with stress. Sudden changes like ill health, challenges in a relationship, death or even loss of a job can induce high levels of stress. A report showed that people report to feeling at ease when they spend time in a quiet, green park. Spending time in nature is reported to lower stress experienced in handling every day’s challenges. The New York Times revealed that even having a window that views rich greenery increases feelings of well-being and helps alleviate stress.
Nature can boost your Immune System
It has been shown that there are over 20 established pathways between overall health and exposure to nature. Several studies suggest that exposure to nature can protect you from diseases like depression, diabetes and cancer. Yet, how nature protects you from these illnesses remains unclear. It appears our human bodies seem to do much better in green areas. Imagine taking a run every morning in between rich horticulture, inflating your lungs with refreshing air.
Nature can help you recover from Illness
It’s been observed that patients in hospitals with gardens show signs of quicker recovery from illness than patients with minimal exposure to nature. Being in a natural setting decreases cortisol levels – the stress hormone – and reduces systolic blood pressure. Thus, improving sleep patterns and aiding recovery and better health.
Nature can increase your Energy Levels
According to the most recent coffee statistics from the International Coffee Organization (ICO), we pour about 1.4 billion cups of coffee a day worldwide. Most people rely on caffeine and other energy boosters to kick-start the day. A study carried out by the University of Rochester reveals exposure to nature can increase energy levels and make you feel more alive. If you find yourself struggling to stay up in the morning or need extra boosters, it might be an indication to increase your exposure to nature to gain a greater sense of vitality. Ultimately the goal is to attain better health and well-being. As such, prioritizing outdoor time in nature should be top on your list.
Lekkivale Estate and Ottalakes Country homes revolve around nature. Ottalakes literally encircles a lake. We have designed our estates to strategically placing green areas to the benefit of all our residents. We’re taking one step at the time to change the conventional boxed way of life by reinventing modern housing and placing nature at the forefront of our developments.
This is a story based on a businessman who failed to verify the land title on the property he bought.
SegunAbejuis a businessman who decided to invest in real estate. His decision was based on the need to securelong-term investment and a retirement plan. After talking to an oldfriend about his plans to buy a few plots of land, his friend claimed to know a family who was selling offparts of their large estate at a give-away price at Sangotedo.
Segunsaw this as an excellent opportunity to cash in and immediately bought into the idea. He was confident that his friend was handling the transaction. He went ahead to make the first deposit of N4,000,000 to his friend’s account.Later that week, his friendscheduled a site visitation to inspect the land.Segunnoticed the shabby signboard at the entrance, but his friend argued that since itwas a family property, they hadn’t bothered with maintenance. Segun didn’t mind, after all, the land reportedly had a C of O. He didn’t know much about verifying land titles. He didn’t want to bother himself with the stress.
Two weeksafter the site visitation, Segun didn’t hear anything from his friend. He tried calling him several times yet no response. It was one excuse after the other with this said friend. After a month of no headway, Segun decided to takematters into his hands. He went out to checkthe land for the second time, in an attempt to get in touch with the family that ownedthe land.
To his surprise, everything had been an act. There was no signboard and even the man who had posed to be the first son of the family was a paid actor.Itturned out the landbelonged to the government. For months Segunstruggled to get a hold of his friend but to no avail. He later found out had travelled out of the country.
Segun couldn’t believe he had been scammed. In his words, “God will punish all those people, it will never be well with them. I cannot believe my own so-called friend did this to me.”
As sad as it sounds, Segun is just one out of the many Nigerians that fall into the trap of fraudsters. When itcomes to acquiringproperty, verificationis a crucial process.It doesn’t just end at inspecting the property.Youneedto ensure the land you inspected is owned by the seller.
Recently, we hadanotherclient who had been previously cajoled into buying a propertyhethoughthad a C of O. It turned out the land document he had seenbelonged to anotherproperty, completely different from the propertyhe had inspected.
Benefits Of Verifying Land Documents:
It shows proof beyond doubt of the validity and ownership of the property.
Itacts as a form of insurance.
Italsogivesyou the freedom to do anything you want with the property; either construction or re-selling.
Don’t just go for a site inspection.Always ask for a copy of the land documents. Take these land documents to the The General Surveyor’s office at Alausa, Ikeja.
How to Confirm the Authenticity of a Property Title
Ask for a copy of a survey plan and get a Surveyor to ensure the site you’ve visited fall within the stipulated survey plan.
Ask for a copy of the land document. Check the authenticity of land documents at the Land Bureau at Alausa.
Use the coordinates to cross-check what the plot of the land has been set aside for at the Master Plan in the Ministry of Physical Planning. Avoid lands that have been set aside for agricultural purposes or allocated for government use. Stick to lands allocated for residential purposes.
Demand to see the layout plan and pick a suitable plot.
Find out if there’s an ongoing dispute or litigation over the land.Find out if the land was inherited or bought.
Make sure dates check out. Cross-check documents to ensure they aren’t fake.
Document every single part of the transactions involved in buying land in Nigeria. From the cost of land to the survey fees.Treat every land transaction as it should be, a business transaction.
It doesn’t matter is the personyou’re buying from or interfacing with is your uncle, aunty, boss, friend, pastor…make sure they provide all the documentationyouneed before proceeding to makepayments. Also, take the time to read the documentsyou’re given carefully.
Great! We’d loveto help Call us today to find out more about investing in real estate in Nigeria. You can call us right now to book a land inspection at 09081234564, 09095757575 or send us an email at firstname.lastname@example.org