TOV Homes has unveiled its latest estate project, “PLUS LAGOS,” in Abijo GRA, Lagos, with a strong call for secure property ownership, proper land documentation and reforms aimed at tackling fraud in Nigeria’s real estate sector.
The Group Managing Director of TOV Homes, Dr. Mbamalu Valentine, disclosed this during the official launch of the estate, where he stressed the need for transparency and legal verification in land transactions across the country.
Valentine, who is also a legal practitioner and entrepreneur, said the company is determined to address persistent problems of land fraud, poor documentation and insecurity in the real estate industry through title verification, public sensitisation and flexible housing initiatives.
TOV Homes, the real estate arm of TOV Group Limited, recently acquired Abijo GRA with a government allocation title, while the newly launched PLUS LAGOS estate has been approved for both residential and commercial purposes.
Speaking on the challenges facing the property sector, Valentine identified fraudulent transactions and improper land documentation as major reasons many Nigerians remain hesitant about investing in real estate.
According to him, his years of experience as a lawyer exposed him to numerous land disputes involving multiple ownership claims and fake documentation, leaving many unsuspecting buyers stranded after making huge investments.“As a lawyer, I have handled several cases involving land litigation and fraudulent activities in Nigeria’s real estate sector.
Many people become victims simply because they fail to verify documents properly before making payments,” he said.
He noted that the foundation of every successful property investment lies in authentic title documentation, warning that any error at the documentation stage could result in years of legal battles and financial losses.
“Without proper land title documentation and understanding what it means to buyers, the real estate sector will continue to experience serious problems. Once the title is wrong, everything else becomes complicated,” he added.
To tackle the growing problem, Valentine said TOV Homes has intensified efforts toward public enlightenment through quarterly training and sensitisation programmes designed to educate Nigerians on land verification processes and the importance of engaging legal professionals before purchasing properties.
According to him, many Nigerians still underestimate the role lawyers play in property transactions, often opting to buy land without carrying out due diligence.
“A lot of people think they can buy land without proper verification, but lawyers help to confirm the authenticity of documents and protect buyers from falling into the wrong hands,” he stated.He explained that legal charges attached to land verification are insignificant compared to the financial and emotional losses that arise from fraudulent property deals.
“Some lawyers may charge between five and 10 per cent, while others simply collect verification fees to help buyers confirm the legitimacy of the property before payment,” he explained.Dr. Valentine also addressed the issue of “Omonile” activities in Lagos State, noting that reputable estate developers usually settle such disputes before marketing their projects to buyers.
He explained that many Nigerians now prefer buying properties within organised estates because it protects them from harassment by land grabbers and local land agents commonly referred to as “Omonile.
“Why people buy into estates is mainly to avoid Omonile issues. Estate developers are expected to resolve those matters before selling land to clients,” he said.
According to him, TOV Homes has already resolved all related disputes surrounding PLUS LAGOS, assuring prospective buyers that they would not experience harassment or interference from local land agents after purchase.“The issue of people destroying fences or building materials is eliminated because agreements are already in place between estate owners and the Omonile groups,” he stated.
Speaking on the company’s expansion plans, Valentine revealed that TOV Homes currently operates estates in Luna City and Plethora City, while PLUS LAGOS represents the company’s third major development project.
He described the estate as strategically located within the rapidly developing Abijo axis of Lagos State and said the company introduced affordable pricing and flexible payment plans to accommodate middle-income earners.
According to him, land within the area currently sells for between N75 million and N80 million, but TOV Homes introduced a discounted launch price of N47 million for 500 square metres and N29.5 million for 300 square metres.“We introduced the launch price to allow more people buy at affordable rates before prices return to the market value.
The offer is only for a limited period,” he explained.
Valentine added that the company created flexible payment options to ease the burden of outright payment on prospective homeowners.“We understand the current economic realities, so buyers can make an initial deposit of N10 million and spread the remaining balance over one year based on agreed terms,” he said.
On the wider issue of housing deficit in Nigeria, he argued that the real estate sector alone cannot solve the country’s housing crisis without deliberate government support and economic reforms.He blamed rising inflation, increasing costs of building materials and unstable economic conditions for the continuous rise in property and rental prices nationwide.
“There is little developers can do when construction materials keep increasing daily. Housing prices are influenced by the realities of the economy,” he noted.He therefore called on governments at all levels to introduce policies that would stabilise prices, improve land administration and support developers through better housing regulations.
According to him, without stable governance and effective economic reforms, affordable housing may remain out of reach for millions of Nigerians.
Leave a comment