5 Stages of Property Development in Nigeria

Building-Plan
How to Process Building Plan in Abuja?
July 23, 2018
Property Development Nigeria

Owning a landed property as a Nigerian is one of the dreams of almost every Nigerian out there. While we may not all achieve it, a lot of people have been able to achieve it. You are probably reading this piece because you also intend to acquire one for yourself or business. It is important to know that property development anywhere in the world is usually the product of a joint effort between an individual, several professional bodies, and the Government. You need the services of a good lawyer, architect, engineer (electrical and civic) and several other professionals in order to birth that dream building into existence.

If you are reading this piece with the intention to acquire one, be assured we will take you through the process bit-by-bit.

The stages are divided into five main stages:

1. Background Check on the Seller and the Land: While this might not be necessary for some developed countries, this is the most important step you must take before you acquire any landed property in Nigeria. You need to ascertain the eligibility of the seller and whether or not building permits can be issued for such land.

2. Site analysis and acquisition: After affirming the authenticity of the land, you can go ahead with analysis and acquisition. This stage will be successfully completed when the following considerations are met. That is, you have;

– Enquired if the building you intend to erect will be approved by the town council. This doesn’t apply in most places but some cities in Nigeria take this serious.

– Acquired the service of a real estate agent to help you analyze if building on that land is actually profitable.

– Successfully projected the cost and the source of fund.

If you get affirmation from the above-listed points, you can proceed to payment making and the acquisition of the relevant documents. Again, you will need the services of a real estate firm in this stage so as to avoid falling into the numerous dubious tricks of a greedy landowner.

3. Acquire development approval: All property development plans have to be within the framework of the state’s town council. The rule is stricter for constructions in most cities and towns around the world.

The Federal Capital Development Authority (FCDA) is the body granted with the approval of building permit in Abuja.

Before you begin development, you must first of all possess your Right of Occupancy. After acquiring that, you can proceed with the following document to the FCDA; Architectural drawing, structural drawing with precise calculations from a COREN certified engineer, survey, Title document and tax clearance slip.

4. Construction: Provided the aforementioned have been met, you can begin with the construction proper. The most vital point here is that regardless of the budget one must not compromise on quality materials. This step will include the construction of the building from the scratch and also the installation of the basic house fittings like installation of electrical fittings, plumbing works and so on. These are some of the steps;

– Grading and site preparation

– Construction of foundation

– laying of frames

– Installation of windows and doors

– Roofing

– Laying the ground works for electrical fittings and plumbing

– Insulation of the building

– Trimming where necessary

– Painting

– Finishing the electrical and plumbing works

– Flooring

– Connecting the house to a water source

– Connecting the house to a sewer line or septic tank.

Keep in mind that the steps listed above are not exhaustive. For an exhaustive list, you need the service of a competent real estate agency comprised of certified professionals who have successfully demonstrated times without number that property development is their niche.

5. Finished product: If you follow the steps accurately with the help of a real estate agent, you will have successfully engaged yourself in the development of a property from scratch until the finished product. It is left to you to decide whether you want to sell the building or keep it for private use.

Please note the stages of property development anywhere in the world require experience. While they may seem easy on paper, several times in the process, you will need to call on someone with experience in order to make quality decisions. This experience is what a real estate agent like Rural homes have in abundance. We have so many years of experience from building beautiful edifices both in the rural and urban area make them one of the forces to reckon with in the real estate industry.

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