Many
times I’ve heard clients seeking for land and/or landed property mostly for residential
accommodation purpose having special preference for different types of estate
schemes as the major determining factor for them in acquiring such land and/or
landed property.
Some
of the reasons for this special preference are largely due in part to the way
these residential estates housing schemes are well planned and arranged,
coupled with the provision of adequate infrastructural amenities as well as
level of security.
Another
reason is also due to the high level of ownership genuniety of the estate
schemes which goes a long way in discouraging any doubtfulness on the part of
the buyers seeking for land and/or landed property in the estate schemes.
So
today, I have decided to write on the various types of residential estates housing
schemes that are found in Nigeria. The motive for writing this particular post
is to expose and enlighten you on the different residential housing estates
schemes available in Nigeria which will serve as a guide whenever you are
contemplating or decides to acquire land and/or landed property for your
accommodation needs.
The
different types of residential estates housing schemes in Nigeria are:
1.
PUBLIC ESTATES RESIDENTIAL
HOUSING SCHEMES
As
the name implies, public estates residential schemes are those types of
residential housing estate schemes been developed and constructed by government
(State and Federal) for the masses mostly low-income earners and generality of
the populace without any restrictions to who can acquire them.
Public
estate schemes are of two types; namely; Site and Service residential estate
schemes and Built-up residential housing estates schemes.
Site
and Service residential public estate schemes are those types of public estate
schemes where government (State and Federal) acquires large expanse of large
for the sole purpose of dividing it into lots/units/plots to be allocated and
sold to all those willing and interested in acquiring land for accommodation
purpose.
Also
in the site and service residential public estate scheme, what government
actually sells and allocates is the large expanse of bare land that has been surveyed
and divided into different lots/units/plots to the masses who has applied to
government for such estate scheme.
Examples
of site and service public estate schemes in Nigeria are: Isheri-North
residential estate scheme, Abijo residential estate scheme, Banana Island
estate, Ayobo residential housing estate, Ikeja GRA, Ogudu GRA, Magodo
residential estate phase 1 & 2, Agbara residential estate, Sango-Ota
Government Residential Area, etc
It
is the sole responsibility of government to make provision for infrastructural
amenities (tarred road, drainage system, electrification, drinkable water) in
the estate scheme layout.
Built-up
residential housing estate schemes on the other hand are those types of public
estate schemes where government acquires large expanse of land and thereafter
constructs different classes of residential accommodations (duplex, 1bedroom, 2bedroom
or 3bedroom apartments) which are later sold to the general public.
Built-up
residential public housing estate schemes could be high rise units of flats,
detached houses, duplexes or roles bungalow structures.
Unlike
the site and service public estate schemes, what government actually sells to
people in built-up residential housing estates are the different classes of
residential apartments/structures that have been constructed and sold per unit.
Examples
of built-up public housing estates in Nigeria are: The popular Jakande estates
found in various parts of Lagos state, Festac Town estate, Millennium estates,
MKO Gardens, LSDPC estates, Federal Housing Authority low cost housing estates
found in all states of the federation.
The
title documents which government gives to purchasers/applicants of public
residential housing estate schemes in Nigeria are: Certificate of Occupancy,
Deed of Assignment or Conveyance.
2.
PRIVATE ESTATE
SCHEMES
Private
estates residential housing schemes are those types of estate schemes been
acquired, developed, advertised, sold and managed by private property
development companies with the aim of generating income/profit for the company
through the development of different kinds of residential estate schemes for
the general populace.
Just
like the public estate schemes, private residential housing estate schemes are
also of two: types (Built-up residential estates and Site and service
residential estates) in Nigeria.
Private
built-up residential housing estate schemes are those types of private estate
schemes where a private property development company acquires large expanse of
land in any part of the country and thereafter develop or construct different
classes of residential accommodation or apartments to be sold to people.
Examples
of built-up private residential housing estates are: Amen estate, Eden garden
estate, Hagar estate, etc
In
selling any of the private built-up residential housing estates, the developer
(property development company) of such estate embarks on massive marketing, rigorous
awareness, purchase incentives, mortgage options and advertisement of the
private estate scheme to people.
Most
private residential housing estate schemes been developed by a property
development company are mainly for investment purpose and usually of the same
design, structure and finishes.
While
site and service private residential housing estate schemes are those types of
private estate schemes where a property development company acquires large
expanse of land and thereafter divides it into lots/units/plots to be sold to
the general public.
In
selling private site and service residential housing estate schemes to the
public, the property development company who is the developer of the estate
makes provision for different options for payment when buying the estate either
through one-off direct payment option or installment payment option which is to
be spread over certain period of time.
Unlike
the public residential estates where provision of infrastructural amenities
(Tarred road, street lights, drinkable water, drainage systems, etc) is the
sole responsibility of the government, that of private residential housing
estate schemes is not so as it is the responsibility of the property development
company embarking on any site and service private residential estate housing
scheme to provide for all the various infrastructural amenities in the estate.
Developers
of some private residential housing estates stipulates the acceptable building
design and structure to be constructed by all interested subscribers of their
estates while some permits different designs of residential accommodations
in their estates.
Title
documents that can be issued to successful subscribers of any of these private
estate residential schemes are either Deed of Assignment or Deed of Conveyance.
Examples
of private estate residential housing schemes are: Victoria Garden City (VGC)
estate, Victory estate, Oakwood estate, UAPDC Estates, etc
Subsequent
management of the private residential housing estate scheme lies with the
property development company who owns the estate.
3.
CORPORATE RESIDENTIAL
ESTATE HOUSING SCHEMES
Corporate
residential estate housing schemes is another type of residential estate scheme
found in Nigeria.
They are usually embarked upon by various multinational
companies who are carrying out business activities in Nigeria.
Most
corporate residential estate housing schemes are usually in form of built-up
residential apartments been constructed in a well organized and planned large
expanse of land by corporate multinational companies to allocate various units
to their staff workers in need of housing accommodation.
Corporate
residential estate housing schemes are usually made up of different classes of
built-up residential apartments which are specifically constructed to house and
accommodate some staff workers of various multinational organizations carrying
out business activities in Nigeria.
It
is the multinational companies that provide all the various infrastructural
amenities needed in the estate as well as the control, management and
allocation of each unit of residential apartments.
The
main distinction between corporate residential estate housing schemes is that
while every other type of residential estate schemes are either acquired
out-rightly, allocated, assigned or can even be disposed off, mortgaged and
inherited, that of the corporate residential estate housing schemes are
restricted to what can be done on them by the occupiers. This is largely due to
the fact that corporate residential estate housing schemes are privately owned
by multinational organizations whose management boards have developed such
estates to basically cater for the accommodation needs of some of their staff
workers.
Some
of the corporate residential housing estate schemes in Nigeria are: Chevron
estate, Shell Quarters, Mobil estate, La’Farge estate, etc
4.
CO-OPERATIVE
ASSOCIATION RESIDENTIAL ESTATE HOUSING SCHEMES
Co-operative
association residential estate housing schemes are those type of estate schemes
been developed and allocated to staff members of business organizations
(Private, Public, Corporate etc) by the worker’s co-operative
society/association of such
organization.
Co-operative
association residential estate housing schemes are always in the form of site
and service estate scheme where large expanse of land is usually acquired in
the name of the business organization’s workers association and thereafter
divided into different units/plots by the board of trustees of the business organizations’ workers union.
The units/plots of land are afterwards allocated to only the staff members/workers
of the business organization’s co-operative society/association.
To
qualify for allocation of a plot of land in this type of residential estate
scheme, any member of the business organization’s co-operative
society/association must have contributed money through their salary and/or
other employment incentives to the co-operative association’s residential
estate housing scheme fund been floated by their business organization co-operative
society before such staff member can even be considered for allocation of a
plot of land in the estate scheme.
The
development and management of co-operative residential estate housing schemes
are usually taken care of by the business organization’s co-operative society/association
of its workers/staff members.
5.
INDIVIDUAL PRIVATE
RESIDENTIAL ESTATE HOUSING SCHEMES
Individual
residential estate schemes are the type of residential estates housing scheme
where an individual personally acquires large expanse of land in his/her name
and afterwards re-sells such large expanse of land to the general public in
units/plots.
Some
very rich individuals can even go as far as acquiring a large expanse of land
and thereafter develop such land with the construction of different classes of built-up
residential apartments so as to either sell or lease to people that can afford
the sales or rental value of those built-up residential apartments.
While
the management and provision of infrastructural amenities lies with the
purchasers of the bare land sold in the individual private estate residential
schemes or the government, other individual owners of these residential estate schemes
takes it upon themselves to manage the estate scheme as well as provide
infrastructural amenities.
Examples
of individual private residential estate housing schemes are: Oluwa Ni’Sola
estate, Adeniran Ajao Estate, Atunrashe estate, etc
6.
FAMILY RESIDENTIAL
ESTATE HOUSING SCHEMES
This
is the most popular type of estate schemes that is been acquired by people in
Nigeria.
It
refers to all those large expanse of land that was owned by an individual in
the olden days but which has been transferred now to the family members of such
an individual.
Portions
of the family land been transferred to each group of family members is
thereafter named after such group of family members and afterwards sold to the
general populace.
What
anybody buying this type of residential estate housing scheme gets from the
family land owners is a receipt of purchase and in some cases an agreement of
transfer of their interest in the estate to the purchaser but this must be with
the consent of the head of that family.
Majority
of the family residential estate schemes in Nigeria are not well planned and
which in turn have adverse negative effect on the arrangement and development
patterns of land and/or landed properties been developed in the estate scheme.
The
management and provision of infrastructural amenities is most times embarked
upon by the community development association (CDA) of landlords residing
inside the family residential estate schemes which in turn also makes the level
of infrastructural development to be very slow and stagnant.
I
hope with my explanations on the various types of residential estate housing
schemes above, you are well equipped to choose the best option for yourself
whenever the need to acquire/secure residential accommodation arises.
While
you are contemplating on the best type of residential estate housing scheme
most suitable for you, do not forget to seek the professional guidance and
services of an Estate Surveyor and Valuer to assist you in this rigorous
process.
ABOUT
THE AUTHOR
Adeniyi Akinjiyan is a
Higher National Diploma (HND) holder of Estate Management from the prestigious
Yaba College of Technology, Yaba, Lagos state, Nigeria. He possesses a
Professional Practice Certificate in Estate Surveying and Valuation from the
Nigerian Institution of Estate Surveyors and Valuers (NIESV).
He is the principal
consultant of Aakient Consultants Ltd, a highly progressive and consolidated
property and construction project management company, which is committed to
providing the highest level of professional services in meeting clients’ real
estate needs.
