If you google “land in Ikorodu” you’ll see more than 1 million results. This article is written to help you make an informed decision when you want to buy land in Ikorodu.

In 2022, Ikorodu became Nigeria’s 12th largest city with a population of 1.04 million residents.

To the average person, this is a magnet for real estate investment.

But even as these figures offer great opportunity, acting on them without proper planning can land you into investment troubles.

So, when next you see a banner that says “Ikorodu Land for Sale”, calm down. Take a pause. There are vital things that you must consider before you commit your money, time, and energy to buying land in Ikorodu.

A lot of people have lost their hard-earned money buying land in Ikorodu because they bought land with government acquisition.

And such land is plenty in Ikorodu. You need to be well informed about the location before making a buying decision.

In this article, I will show you 

  1. 4 things you must know before you buy land in Ikorodu
  2. 3 crazy mistakes you must avoid before buying land 
  3. 4 documents to ask for when buying land in Ikorodu
  4. 5 Reasons to Buy Land in Ikorodu, Lagos

 

READ: Secrets to know before buying land in Lagos

4 Things To Consider When Buying Land In Ikorodu Lagos

In my years of experience as an investor and a consultant in real estate, I have invested in Osun, Ibadan, Abuja, and Lagos, but I have noticed a pattern.

And everyone I have consulted for always come back with one testimony: “Thank God I bought with you”. 

This is because real estate is beyond just buying land. It is about finding land that is good for investing for all kinds of uses. 

If you will be buying land in Ikorodu, let me show you 5 things you must consider before you pay for the land:

 

1. Location

Ikorodu is wide (a part is in Lagos State, the other part is in Ogun State) but it is also densely populated. It is currently one of the two cities within Lagos to have more than 1 million people within it.

This means that there are many people on little land. And this is where you should be careful.

Because you see a massive population doesn’t mean that the place is good to buy.

Instead, look out for locations within Ikorodu with these characteristics:

  • Good road network 
  • Growing (not large) population especially for land banking
  • Amenities such as schools, markets and hospitals
  • Good land titles 

The advantage of buying this type of property is that you can buy at a lower price and sell for a high price when the area eventually explodes.

Another big advantage is that you can develop it for your personal use.

These simple places allow you to raise your family in a serene environment far away from the hustle and bustle of the central Ikorodu area near the Garage and the Oriwu Central Mosque.

 

2. Your Target Market

Now this option is for investors but you can also read it if you want to grow your knowledge.

If you want to invest in Ikorodu, you must understand your target market as an investor first.

If you want to build commercial real estate like a row of shops or a shopping complex, you will have to buy land closer to where many people live. And that would be more expensive.

But if you want to buy land that you can resell to families looking to settle, you can go to the suburbs with characteristics that I described above.

When you buy this kind of land, you keep it till it appreciates and then you can sell it off at an interest.

Here are some amazing ideas you can execute in the developing parts of Ikorodu

  • Restaurant and bar
  • Hotel
  • Schools
  • Shops for building materials

If you know your target market, you will be able to decide on the place you want to buy land in Ikorodu.

 

3. Cost of Building and Maintenance

If you are a family person or a real estate investor who has found a spot, my first advice for you is to sit down and calculate every penny you will need.

See, building a house and developing real estate is not child’s play. 

You can rush in and not be able to complete your house

You can start developing a storey building and go broke at the decking level.

To avoid these troubles, you must first consider the amount you can commit to developing your land every month.

If you are a salary earner, how much percent can you drop monthly?

If you are getting a government grant or loan to develop property, can it cover the kind of property you have in mind?
Would you need to draw another plan that will fit your budget?

Always consider the money factor, it is too important! 

 

4. Legal Considerations

Lagos is called the land of wisdom for a reason. You must understand the legal implications of every single move you make when buying land, especially if you are buying from families in places like Ikorodu.

This is not an attempt to paint them as bad people but you have to be very careful when you transact.

After you find the land you want to buy and you meet the family, make sure you collect all the land documents with your lawyer present.

One of the legal sides that many people overlook is the approval stage.

When you buy from a family, one man cannot approve the transaction.

He may be the family head but he must get the approval of the decision-making elders in the family too.

If you buy without full consent from all the necessary people, your land can still be taken from you and you will have no defence in court.

In this next subtopic, I will also show you all the land documents that you must get from the land owners to show that you now truly own the land and are entitled to enjoy and even sell it. 

 

4 Documents to Consider When Buying Land in Ikorodu, Lagos 

“What documents should I ask for when buying land?”

I get this question a lot and here is a simple answer…

If you want to buy land from a family or a real estate agent, these are 4 vital documents you must ask for and ensure that you get.

If you can’t get them complete, just walk out of the deal. It will save you a truckload of trouble in future:

 

1. Deed of Assignment

I put this one ahead of the rest because it is the most important of all the documents.

You can have the remaining three documents and still lose your land if you don’t have your Deed of Assignment.

The deed of assignment is a document that shows you the buyer and the seller.

It clearly shows that the seller (assignor) has permanently transferred the title of the property to the buyer (assignee).

 

2. Survey Plan

The Survey Plan is a document that shows details of your land such as 

  • Size
  • Boundaries, and 
  • Location (Coordinates)

You are required to register this document at The Office of the Surveyor-General.

As a result, anybody can check to see if the government or a private individual owns your land. 

With that, you can avoid issues of multiple sales of land that has already been bought.

 

3. Purchase Receipt

This is evidence that you already paid for the land. 

When the buyer pays the full cost of the land to the seller, the seller will then issue the receipt.

The receipt is important because you will need it to register your land at the Land Office.

 

4. Certificate of Occupancy / Governor’s Consent

The C of O shows that the law recognizes the buyer as the owner of the land.

It is issued by the Governor, acknowledging that you have taken an interest in land in that state.

By law, the governor holds the land on your behalf. But with a C of O, the governor transfers the statutory right of ownership from his office to the individual buying the land.

But if you are buying land from someone who already has a C of O, you won’t need to get another one.

You will only need the Governor’s Consent on your Deed of Assignment.

 

5 Reasons to Buy Land in Ikorodu, Lagos

If you have any doubt about buying Land in Ikorodu, here are five reasons that you should change your mind:

1. Infrastructural Developments

Ikorodu is growing rapidly thanks to major infrastructure projects including the proposed Fourth Mainland Bridge. This project aims to connect Ikorodu directly to other parts of Lagos Mainland and Lagos Island. 

As a result, people can come in and out of the city faster than ever before, thereby increasing the number of residents that the city will have over time.

By default, the value of any property you buy today will increase when the project is complete.

Additionally, the Lagos State Government has approved the establishment of a new NYSC permanent orientation camp in Ikorodu.

This development will attract an influx of officials, corps members, and other businesses.

This will be a big chance to invest in residential, commercial and recreational real estate.

 

2. Affordable Land Prices with High Appreciation

Unlike many other parts of Lagos, Ikorodu offers relatively affordable land prices. These allow you to buy low and sell high even on a tight budget.

And as the area keeps developing, property values will appreciate and turn out more RoI over time.

 

3. Proximity to Major Economic Hubs

Ikorodu is central to economic centres like Maryland, Mile 12, and even Sagamu in Ogun State.
Because of this proximity, it can grow to be one of Lagos’ biggest innovation hubs attracting investors and expatriates.

Also, with the completion of the Fourth Mainland Bridge, the city will have direct access to the Island, opening it up to greater strategic opportunities.

 

4. Education Industry Growth

Ikorodu hosts several reputable educational institutions, including Lagos State University of Science and Technology and Caleb University.

This assures of a steady flow of populace who make up tenants, hence increasing chances for housing and commercial real estate.

Even more, you can invest in commercial real estate such as hotels, restaurants, clubs, and bars.

For instance, Domino’s Pizza, ColdStone, KFC, and Tasty Fried Chicken all have branches in Ikorodu. 

 

5. Robust Transportation Networks

Ikorodu has a well-developed transportation network that includes smooth roads and excellent water transport options which are being improved daily.

This connectivity links it to various parts of Lagos and even surroundings such as Ogun and Ibadan.

This increases its attractiveness to people looking to settle away from the busy city centres such as Mile 12 and Ikeja.

 

3 Common Mistakes You Must Avoid When Buying Land in Ikorodu, Lagos

As I already mentioned, you must look for all ways to secure your investment. Here are 3 common mistakes I have noticed that buyers make and that you should avoid:

1. Not Doing Legal Due Diligence

One of the biggest mistakes you can make when buying land in Ikorodu is to neglect to do your legal due diligence.

Make sure you hire a lawyer who has a history with land cases and can advise you on the specific steps you need to take to protect your land.

You can also engage a real estate company that has a track record of integrity when buying land in Ikorodu.

This is the best way to protect your land from any future legal battle that can shake the foundation of your land security.

 

2. Not Budgeting

It is easy to get bamboozled by the prospect of buying low and selling high in a place like Ikorodu. 

But you need to calculate other costs aside from your purchase amount. These can include 

  • Cost of documentation
  • Cost of perimeter fencing, and 
  • Maintenance fees

If it helps, you can hire an accountant to build a detailed financial plan for you. These help you to create a sustainable investment strategy.

 

3. Rush

The riskiest mistake you can make as a land buyer in a place like Ikorodu is to make decisions in a hurry.

Many people do this because they “don’t want to miss out on an opportunity”. As I already mentioned, take your time to count the cost. 

Research the kind of property you want to buy. 

Know the location you want to buy in based on the market that you want to sell to. 

If you are a family person, scout locations that will help you to raise your family peacefully. 

Tick all the boxes so you won’t have regrets later.

 

READ: Real Estate Investing for Beginners in Nigeria: The Complete Guide

 

Finally, As You Go On To Buy Land in Ikorodu

 

Buying land in Ikorodu can be a profitable investment, but only if you take the right steps to protect your interests. Here’s a quick recap of what you need to keep in mind:

  • Choose the Right Location – Prioritize areas with good road networks, growing populations, and essential amenities.
  • Know Your Target Market – Whether you’re buying for personal use or investment, understanding the demand will guide your decision.
  • Plan Your Budget – Account for land costs, documentation fees, and development expenses to avoid financial strain.
  • Ensure Legal Protection – Verify land ownership, collect necessary documents (Deed of Assignment, Survey Plan, etc.), and consult a lawyer.
  • Avoid Common Mistakes – Don’t rush, neglect legal due diligence, or underestimate costs.

By taking the time to research, plan, and seek expert advice, you can secure a profitable and stress-free land investment in Ikorodu.