Faq

Frequently asked questions

What are the functions of LSDPC?

Function of the Corporation

  1. The functions of the Corporation shall be to act as commercial developers, estate managers and agents in respect of landed properties, dwelling-houses, shopping centres, offices and industrial buildings in residential and industrial estates in the state presently vested in the Corporation, and subject to the provisions of this Law, the Corporation, for the purposes of carrying out its functions under this Law, shall have power to carry on all activities which are necessary, advantageous, convenient or profitable.

 

  1. Without prejudice to the generality of the provisions of subsection (1) of this section, the Corporation shall have powers —–

 

 

  1. To develop land or any estate or interest in land;
  2. To acquire, develop and maintain dwelling-houses, shopping centres, offices, industrial buildings that are necessary or desirable for the performance of the functions of the Corporation;
  3. To acquire, develop, maintain or repair any works, plant or apparatus necessary or desirable for the provision of electrical, water or sanitary services or in connection with any building owned, developed or managed by the Corporation;
  4. To sell, let or lease any building owned, developed or presently managed by the Corporation by virtue of this law upon such terms and conditions as the Corporation deems fit;
  5. To conclude agreements with any person for development, maintenance or repair of any movable property under its management;
  6. To buy and sell moveable property vested in it;
  7. To make, draw, accept, discount, endorse and execute promissory notes, bills of exchange or other negotiable instruments;
  8. To prepare development schemes within the state in accordance with the master plan prepared and approved by the State Ministry responsible for Physical Planning and Development Matters and to execute such scheme with the approval of the aforesaid Ministry.
  9. To do anything for the purpose of advancing the skill of persons employed by the Corporation including the provision of facilities for training, education and research.
  10. To invest money standing to its credit and not for the time being required for its purpose under this Law in stocks, shares, debentures, promissory notes or other securities whatsoever approved by the Governor, and to sell such stocks, shares, debentures or other securities with the approval of the Governor;
  11. To insure its property against all forms of risks;
  12. To act as agents for the State Government and other companies or corporations within Lagos State in purchase, sale, lease, or other acquisition or disposal of any real property or of an estate or interest therein;

What does LSDPC do?

LSDPC is in the business of property development and management . For further info feel free to contact us

How can I acquire an LSDPC property?

After confirming availability, purchase an application form, fill and return with payment either in full or in agreed installments.For further info feel free to contact us

Does LSDPC offer mortgage facilities?

No, however LSDPC as a developer has business relationships with several banks that can be introduced to prospective applicants. For further info feel free to contact us

What title do I get after purchase of property?

Final title deed of Sub-lease. Immediately after full payment, a letter of allocation is issued. Thereafter the deed of sub-lease is processed and consent obtained from the Governor’s office. For further info feel free to contact us

What is your policy on allocation?

Allocation of property is made only after full payment and it is on “first come-first served” basis. Clients are allowed to choose from available housing units. For further info feel free to contact us

What maintenance policy does LSDPC operate in its Residential estates?

LSDPC, through appointed service contractors runs an initial 2/3-year maintenance service in its new estates. This entails the followings:-

  • 1. Security
  • 2. General cleaning
  • 3. Gardening/Weed cutting
  • 4. Refuse Disposal
  • 5. Maintenance of Borehole/Water treatment
  • 6. Sewage Disposal
  • 7. Fumigation of common areas
  • 8. Maintenance of water supply network
  • 9. Maintenance of Electrical Installations
  • 10. Provision and Maintenance of Generating Sets for common services (street lights and water treatment plant).

For further info feel free to contact us

After LSDPC 2/3 year Maintenance, What's next?

Residents of our estates are encouraged to form Estate Residents Associations duly registered with the Corporate Affairs Commission. These associations take over from LSDPC after the 2/3 -year period.

For further info feel free to contact us .

What are the standard infrastructures to be expecting in LSDPC estate?

1. Separate transformer(s) for the estate
2. Reinforced concrete drainage/Block wall filled with concrete
3. Asphalt surface pavement of not less than 5.00m for a 2 – way road
4. Fenced estate with gate house
5. Estate Borehole with treatment plant
6. Street lighting and generator for common services
For further info feel free to contact us

Does LSDPC collaborate with private investors?

Yes, our Joint Ventures Department embraces private participation with private landowners and investors with financial capability to build estates, shopping complexes, and High-rise buildings. For further info feel free to contact us

Does LSDPC sell land?

No, we only lease designated service areas like Health Center, Schools etc. in our estates. Additional space beside a terrace house, bungalow or duplex could be leased as extra land. For further info feel free to contact us

Does LSDPC sell land?

No, we only lease designated service areas like Health Center, Schools etc. in our estates. Additional space beside a terrace house, bungalow or duplex could be leased as extra land.

For further info feel free to contact us .

If l buy one LSDPC-developed property from the secondary market, how do l go about change of ownership?

A. For an individual, the following are needed
i) Application letter from the Assignor (Original Allottee).
ii) Deed of Assignment duly stamped (I copy)
iii) Collection and completion of consent form by both parties (N2,500.00)
iv) Passport photographs of both parties (Assignor and Assignee).
v) Photocopy of the current tax clearance certificate of assignee.
vi) Payment of administrative fee.
vii) Photocopy of driver’s license or international passport.

B. For corporate entities, the following will be needed in addition to i – vi above;
a) Board Resolution authorizing the purchase/sale
b) Certificate of incorporation
All these are forwarded to the Corporation for reassignment. Please note that all payments are in bank cheques addressed to LAGOS STATE DEVELOPMENT AND PROPERTY CORPORATION. For further info feel free to contact us

Does LSDPC collaborate with private investors?

Yes, our Joint Ventures Department embraces private participation with private landowners and investors with financial capability to build estates, shopping complexes, and High-rise buildings. For further info feel free to contact us

How can I lease an LSDPC commercial apartment?

Please contact our property and land management department. For further info feel free to contact us

How do I acquire an LSDPC property?

After confirming availability, purchase an application form, fill and return with payment either in full or in agreed installments. For further info feel free to contact us