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Nairaland Forum / Nairaland / General / Properties / "Lekki Gardens Estate" How Genuine Is It? (136825 Views)
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Re: "Lekki Gardens Estate" How Genuine Is It? by skimanski(m): 1:35pm On Mar 20, 2016 |
Re: "Lekki Gardens Estate" How Genuine Is It? by antispexish(m): 5:18pm On Mar 20, 2016 |
Coldplay007: that will be the most difficult thing to achieve o. take for example , 8 flats where built on a piece of land(like 4 floors). The building was demolished, how will they share the land?. If they decide to sell the land and share the money, it wunt cover their investments. If two decide to buy the land from the others, they will start fighting on who will buy it and how much. If they decide to build a new building of 8 flats, I'm sure one person will say he does not have money, that's even if they don't fight on how much should be contributed or who will do the construction. either way, lots of people will lose their investments. |
Re: "Lekki Gardens Estate" How Genuine Is It? by amanikondo: 7:05pm On Mar 20, 2016 |
skimanski: At all Skimanski. Why I knew about the sacking was that I am doing building approval through one of them. I will call you for something soon. |
Re: "Lekki Gardens Estate" How Genuine Is It? by DOYI: 12:06pm On Mar 21, 2016 |
Hi all, can anyone with property in phase 3 keep us all informed about the structural integrity tests when they finally get to phase 3?....i heard all Lekki Garfens estates will be subject to the tests....I just commenced my finishings before all this wahala ![]() |
Re: "Lekki Gardens Estate" How Genuine Is It? by Missonitemi: 7:30pm On Mar 21, 2016 |
DOYI: |
Re: "Lekki Gardens Estate" How Genuine Is It? by DOYI: 12:32pm On Mar 22, 2016 |
Great idea....will do so.Thanks alot |
Re: "Lekki Gardens Estate" How Genuine Is It? by abike12(f): 9:08pm On Mar 22, 2016 |
I was so close to doing installment plan with LG, na God save me. I'm just hoping first that everyone living in their properties are safe and that compensation will be given if any ones need to be demolished. |
Re: "Lekki Gardens Estate" How Genuine Is It? by abike12(f): 9:14pm On Mar 22, 2016 |
richijag: omg u called it! 2 Likes 1 Share |
Re: "Lekki Gardens Estate" How Genuine Is It? by Tvegas(m): 9:22am On Mar 23, 2016 |
eziokwu2015: This post from 2015 still leaves me surprised. Eziokwu are you sure you are not a prophet Jeremiah of some sort?. If a building actually collapsed in nike art gallery then the recent collapse could have been prevented by lasbca. Shame on our goverment agencies. 1 Like |
Re: "Lekki Gardens Estate" How Genuine Is It? by blank(f): 7:04pm On Mar 26, 2016 |
Tvegas: My understanding is that these ones that were recently demolished were done, not because of structural defects, but because they had no approval for those buildings. |
Re: "Lekki Gardens Estate" How Genuine Is It? by Tvegas(m): 7:23am On Mar 27, 2016 |
blank: Have they demolished any building yet? I thought they are still conducting the tests and serving notices. |
Re: "Lekki Gardens Estate" How Genuine Is It? by blank(f): 10:25am On Mar 27, 2016 |
Tvegas: They have marked some other buildings to be demolished without tests. |
Re: "Lekki Gardens Estate" How Genuine Is It? by rikimarucrowdk(m): 11:37pm On Mar 29, 2016 |
I have been following this thread for a while and recently also secured an apartment just before the collapse. I see alot of 'dem say' in the comments here and it's worrisome for me sha. A question I just want to ask: If the tests results come out (they said it's ready), and certifies the buildings as stable, what will be the comments here? I have looked at the buildings and yes the 'finishing' is shoddy but that doesn't always mean unsafe. Please read my words carefully before you react. I have built a house before with my dad and not everything was perfectly in line but the house is very sound and still standing for 22 years. ANyway just my thought. 1 Like |
Re: "Lekki Gardens Estate" How Genuine Is It? by SangoCrusader: 11:37am On Mar 30, 2016 |
rikimarucrowdk: Many people have genuine concerns and provide good advice. However, a lot of the other people who could not afford to buy into the estates in the first place are "relieved" for reasons beyond me. Best of luck with your apartment - I hope the integrity tests conclude that the other building are safe. 1 Like |
Re: "Lekki Gardens Estate" How Genuine Is It? by sped1oro(m): 3:30pm On Apr 07, 2016 |
10 JUSTIFIABLE REASONS TO RALLY SUPPORT FOR LEKKI GARDENS AND RICHARD NYONG 1. FALLIBILITY: The Owners of Lekki Gardens are Human being like you and I, the ONLY one devoid of imperfection will be the Almighty God. Why not temper mercy with justice in this unforeseen calamity? I can bet my life on this, Lekki Gardens or Richard Nyong will never wish to experience such an unseemly publicity stunts with human lives, it is an error that could happen to the best of engineers anywhere in the world. The memory of crane collapse at mecca which killed at least 107 people and injured almost 400 during a severe thunderstorm accompanied by violent winds is still fresh in our minds, this is a sacred place where projects are handled by the best in Engineering and real estate development skills, unfortunately the accident happened and ONLY God knows why it does at that important period during the pilgrimage. 2. BASIC NECESSITIES OF LIFE: Lekki Gardens is a service provider in one of the 3 basic necessities of life i.e; food, clothing and shelter. They belong to the real sector of the economy whose demand is high and government has never been able to meet up with their socio-economic responsibilities to the teeming masses. An entity like Lekki Gardens and its owners needs be encouraged to do more through our support when things go awry unexpectedly. 3. NIGERIA’S GDP CONTRIBUTOR: According to a report in 2015 by Accounting and Auditing firm PricewaterhouseCoopers (PwC), “the Nigerian real estate sector is growing at a rate of 8.7 percent, which is faster than the average GDP growth rate of 7.4 percent” Lekki Gardens and Richard Nyong are among the biggest contributors to Nigeria’s GDP and the more reason prosecutor needs to be careful by not “throwing away the baby with the bath water”. Government at all levels are looking for ways to enhance the operations and production capacity of critical sectors of the economy such as real estate in order to boost the GDP of Nigeria’s economy, so why not re-evaluate the events that led to this unfortunate incident and come up with corrective cum preventive measures to avert future occurrence instead of “killing mosquito with a sledge hammer”. 4. EMPLOYMENT CREATION: Real Estate business is the one of the biggest employer of labour and provides employment to large number of the populace. I can boldly reveal to all who cares that I became a graduate, paying for my school fees from real estate jobs, I was a maison, Tile and interlocking paving stone installer, House painting and decorations. While In the service of Guaranty Trust Bank Plc, I usually take up project management jobs during my leave/vacation, I happen to supervise the first Multi-links base station in Enugu. Even after I left Gtbank, I was a project manager on several real estate projects in Abraka, Makurdi, Badagry and Ikorodu. The last was an access road project in 2014 at Sangotedo beside LEKKI GARDENS ESTATE, Lekki. Lekki Gardens and Richard Nyong employs over 500 persons directly and 100,000 indirectly, can we afford to make life miserable for such families benefiting from his economic contribution? 5. INVESTMENT OPPORTUNITIES: A lot of investment opportunities abound in real estate development sector of the economy. When you buy or build a house, and lease out to tenants, that property starts to earn you rental revenue (monthly or yearly depending on the treaties with your tenants). With increasing yearnings for affordable housing units and ever growing inflation rate, rental values are always on the increase. Higher rental prices mean more profits for you, the owner. Compared to other investment options, the revenue from real estate is the most consistent. Lekki Gardens and Richard Nyong has created a wide range of investment opportunities for banks, Surveyors and valuers, corporate organizations, Insurance brokers, etc. 6. TAX BENEFITS TO GOVERNMENT: Property tax plays a critical role in state and national development, property tax is a levy on immovable property, such as land and buildings, usually paid by the owner to the state. This form of taxation is closely associated with financing government projects because of the immediate connection between property values and services funded at the local level. These services may include the provision of potable water, street lighting, waste management, security, and the maintenance of public parks, schools and roads. Lekki Gardens and Richard Nyong must have contributed a sizeable value in property tax to states where their real estate projects are sited. Why not give this indigenous firm and this young man a chance to contribute to the taxation drive of the economy. 7. SOCIAL INFRASTRUCTURE DEVELOPMENT: Real Estate developments usually contribute to the communities their projects are located at, by providing infrastructure, employment, Skills Training and Development. Most of the host communities have attested to the fact that the presence of Lekki Gardens in their area has opened up their access roads neglected by the government. Most communities whose lands are acquired for real estate developments have found solace in firms such as Lekki Gardens and the likes. Directly or indirectly, real estate companies have provided more social infrastructures than any known philanthropist in Nigeria today. 8. CREATING HOME OWNERS THROUGH MORTGAGE: Mortgage Home Ownership is an arrangement that is offered through acquisition of property with intending owners making an equity contribution of about 20-30% of the total cost of the property and deferring the mortgage loan amount for periods between 2-20yrs. Many people have benefited from this mortgage arrangements from real estate companies such as Lekki Gardens, the dream of becoming a landlord would have just been illusions save for the magnanimity and patriotic zeal for human developments of private estate development firms. It is a known fact that governments alone could not satisfy the housing needs of the masses and reason for coming on board of real estate firms such as Lekki Gardens. 9. HOUSING AS COLLATERAL AND SECURITY FOR LOANS: Getting collateral or security for bank loans is one of the biggest hindrance faced by loan seekers and investors to start a new venture or acquire working capital (such as a factory, machinery or equipment), especially in Nigeria. When banks ask for collateral or security, they prefer something that is equal to or greater in worth to the loan value you are requesting for. Banks usually prefer landed property as security because it is known to existentially appreciate in value. Unlike your automobiles, which lose resale value every day, the economic values of real estate are more likely to grow. And compared to shares or stock portfolio investments, the importance of a property possession cannot vanish overnight. As a result, an investment in property can be used as leverage to get a loan from financial institutions and other lenders. Only very few other business venture can give the stripes of leverage that real estate guarantees. Consequently, Lekki Gardens and Richard Nyong have provided housing units in choice areas that are attractive to financial institutions when considering loan applications. Wouldn’t it rather be harsh to degrade and debase the foundation set by this noble young entrepreneur? 10. PROMOTION OF ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA: The Federal Government has promised to pump about N350 billion into the economy in the forthcoming months, Finance Minister Kemi Adeosun has said. Addressing State House correspondents on 22nd March 2016, at the conclusion of the two-day National Economic Council retreat, Adeosun said the money would be paid to contractors to enable them re-engage staff they had laid off. She emphasized that “There is a focus at state level on PROPERTY and CONSUMPTION taxes to help in improving revenue in a fair manner. The campaign for entrepreneurship development in Nigeria could be promoted from the creativity and zeal of a promising young man in his thirties and whose feat in real estate has laid a foundation for others to follow. Richard Nyong was awarded and named the Property Developer for the year, 2014 by the Institute for Government, Research Leadership and Technology, CEO and Real Estate Person of the year, 2014 by the leadership of Real Estate Unite, Lagos and Property Developer of the year, 2014 by City People Magazine. ''Unus pro omnibus, omnes pro uno'' "One for all, all for one" http://hollalaycan..com.ng/2016/03/10-justifiable-reasons-to-discharge-and.html 1 Like |
Re: "Lekki Gardens Estate" How Genuine Is It? by monkeyDsabo(m): 6:45pm On Apr 09, 2016 |
Don't want to be rude, but i might as well be. must say, all you have said is a big pile of horse sh*t and dog vomit! as a subscriber i want Richard Nyong & lekki gardens to do well, as that guarantees my investment. am a bit appalled by what as happened, and i am sad for the lost lives. but then, Richard must account for and pay for his role in this fiasco. from what we know, his idiotic & greedy friend/contractor used substandard materials etc. & Richard got wind of this and sacked him, fine and comendable. so why then did he okay the construction of additional floors than planed on this said building(s) ![]() ![]() sped1oro: 5 Likes |
Re: "Lekki Gardens Estate" How Genuine Is It? by Sammiejo: 8:12am On Apr 19, 2016 |
http://thenationonlineng.net/no-development-permits-32-lekki-gardens-sites-2/ More bad news for Lekki Gardens subscribers 1 Like |
Re: "Lekki Gardens Estate" How Genuine Is It? by Tvegas(m): 4:27pm On Apr 19, 2016 |
Sammiejo: Am not supporting breach of town planning laws but how many sites has development permit in lagos? ![]() 1 Like |
Re: "Lekki Gardens Estate" How Genuine Is It? by Grajomama: 1:50pm On May 10, 2016 |
Hello, I'm new to nairaland and new to this forum - my very first post online. I recently bought a 2 bed apartment in the Ikoyi Osborne estate from lekki garndes. Was about to pick keys when the disaster struck in Lekki. In LG's fairness, I was given 12 months completion timeline and it would have been 12 months (less 2 weeks) if the disaster had not happend. Now, I live outside Nigeria, been on the phone several times to LG to learn of the latest updates but not told much. I would appreciate if anyone knwos what is going on with the sites in Ikoyi? As I am not yet a resident, i don't know of any resident association groups (online, bbm or whatsapp). What are other investors not yet residents doing? Also, what will LG do if the integrity tests come out negative? what can investors do? Thanks a lot for your support. |
Re: "Lekki Gardens Estate" How Genuine Is It? by kyandy1: 4:42pm On May 16, 2016 |
babestell: Hello babestell, there are a few good investment properties in Portharcourt, it only boils down to the question on 'what exactly are you looking for'? From the list I have been privileged to come across, I'll mention a few that should pick your interest if your looking for an investment property. 1: Property along Aka road by Saipem, near Master Energy. Its a 10 unit studio rooms (self contain) completely finished and rented out already (current rent for the year goes directly to buyers account.) Its on a two plot of land, ownership certificate is a deed of assignment. Entire property goes for N 10,000,000.00 Only 2: There is also private hostel for sale right beside the the university that's also available but the project is a Lagos project @N 2,500,000.00 per Unit. Others are commercial properties but more on a larger scale investment. Like I said earlier buying a property all depends on what your looking for, Short/Long term Investment, Commercial Investment, Land Banking etc.. It makes investing much safer, easier and profitable when you know what you want |
Re: "Lekki Gardens Estate" How Genuine Is It? by MrMcJay(m): 12:19am On May 17, 2016 |
Grajomama: The truth is that at this point, you need a physical visit to Lekki Gardens and request to speak to someone in authority and not a customer care officer. LG is in a tight spot and is trying to cut its losses. Whether your investment is part of the losses which LG would cut depends largely on the steps you take. The LASG has conducted several tests on LG's sites and the results are in the custody of LASG and LG. This information can't be divulged by a customer care rep who has no idea whatsoever. You need to be speaking to someone in senior management. I suggest you get a lawyer here in Nigeria to pay a visit to LG's office and sort things out with them. I'm a lawyer and I can do that on your behalf if you so wish. Kindly reach me on +234 908 4444 776. 1 Like |
Re: "Lekki Gardens Estate" How Genuine Is It? by kaydeee: 11:52am On May 21, 2016 |
After reading this news, http://guardian.ng/news/lagos-reopens-lekki-gardens/ , I went to Horizon court in lekki phase 1 ( Nike art gallery) where i have a duplex with lekki gardens. To my relief, i found out work has re-commenced and almost done. I dont know about other estates. Thank God my hard earned money is not lost afterall 2 Likes |
Re: "Lekki Gardens Estate" How Genuine Is It? by SangoCrusader: 5:32pm On May 21, 2016 |
kaydeee: Congrats! LG have now recommenced construction on most sites, which means our investments were not in vain. All the haters and "I told you so's" can crawl back into their "Face me I Face you" hole. |
Re: "Lekki Gardens Estate" How Genuine Is It? by babestell(f): 12:39pm On May 22, 2016 |
kyandy1: Hi just logged in to see this. The first option interests me. Can we discuss on it |
Re: "Lekki Gardens Estate" How Genuine Is It? by Grajomama: 2:01pm On May 23, 2016 |
Dear MrMacJay, Thanks for your candid opinions. I will send a relative to their offices and to also check out the sites, and then decide on next steps. Many thansk for your number. I plan coming home this summer and will contact you (should thhe situation not be solved). Regards, MrMcJay: |
Re: "Lekki Gardens Estate" How Genuine Is It? by MrMcJay(m): 4:33pm On May 23, 2016 |
Grajomama: Thanks. I do believe the issues on ground would have reached an appreciable level of resolution before summer. Cheers. |
Re: "Lekki Gardens Estate" How Genuine Is It? by kyandy1: 10:22am On May 25, 2016 |
babestell: Hello, sure we can discuss further on these properties, so as not to mix up things on these thread... go to this link https://www.nairaland.com/3126173/garden-city-greater-port-harcourt |
Re: "Lekki Gardens Estate" How Genuine Is It? by monkeyDsabo(m): 2:19pm On Jun 16, 2016 |
Hi All, it seems the recent heavy downpour and flooding affected quite a lot of lekki and the island in general. can someone on ground give us updates on the lekki gardens estates? which phase was affected? and if there's any damage on the properties there if at all? "i hope that's not the case... thanks! |
Re: "Lekki Gardens Estate" How Genuine Is It? by debojyde(m): 2:28pm On Jun 16, 2016 |
Saw this on Linda ikeji. http://www.lindaikejisblog.com/2016/06/photos-floodwater-affected-houses-at.html Don't know what estate this is. Phase 2, 3 or 4. I've sent someone to check on my units in phase 4 |
Re: "Lekki Gardens Estate" How Genuine Is It? by monkeyDsabo(m): 7:05pm On Jun 16, 2016 |
debojyde: Thanks for the post and response, thats a very sad and sorry sight indeed... my heart goes out to all who were affected.. i have a 4 bed unit in phase 4 myself. just keeping my fingers crossed at the moment. please kindly share the feed back you got from the person you sent to check out your place. would do the same too. hopefully my brother is able to go this weekend. thanks! |
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