Oko Oba Scheme 4 is located immediately after the Maplewood estate along the new Oko Oba road. It can be considered as an emerging estate on the axis, and unlike Maplewood Estate, Oko Oba Scheme 4 is somewhat lacking in infrastructure. Plots of land in the estate were allocated to private individuals at the verge of the exit of the former Governor of Lagos State, Bola Tinubu about 3 years ago. The roads in the estate are not tarred and there are no drainages yet around the estate.
At the time the plots of land in the estate were allocated, each sold for between N800,000 and N1.2 million. However, a plot of land in the estate, which can only be gotten from the secondary market, currently sells for between N12 million and N20 million, depending on it’s location within the estate.
Though the number of houses in the estate cannot be compared to the number in neighbouring schemes, there are currently a number of detached houses, flats and duplexes in the estate. In terms of rent, a detached house in the estate presently rents for between N600,000 and N700,000, while a flat rents for between N300,000 and N350,000.
In submission, however, due to the estate’s contiguity to other well built estates on the axis, real estate pundits still believe buying into the estate is a wise investment decision. They anticipate a price pull effect when infrastructure is eventually developed in the estate.
This is a blog about Homes in Nigeria.
For more information about Homes in Nigeria, visit www.mynigeriaproperty.com
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