Get Ahead of the Real Estate Market- The Ikorodu Sub-Regional Master Plan

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Strategically Investing on the Ikorodu Axis of Lagos State

 

A couple of weeks ago news filtered in that the Lagos State Government had perfected plans to present the final draft report of the Ikorodu Sub-Region Master Plan.

 

I decided to do a bit of research, so I will be sharing with you what the master plan is about and what real estate enthusiasts can expect from it.

 

What is the Ikorodu Sub-Region Master Plan All about?

It is hardly debatable that Ikorodu has over the course exhibited flashes of its potential to function as a major gateway corridor to Lagos metropolis. These potentials however remain hindered by large planning gaps as evident in the rapid uncontrolled urbanization.

This has resulted in other urban issues such as high population growth, inadequate infrastructure, traffic congestion, flooding, environmental degradation, conflicting land uses and a host of other issues.

 

The Ikorodu Sub-Region Master Plan is an integrated Twenty (20) years master plan aimed at providing holistic strategy to enhance safe living, economic development, and sustainable urban development for the Ikorodu sub-region.

 

Cityscape Planning Services, the urban consulting firm contracted to prepare the Ikorodu sub-region master plan touts the project as a long-term plan intended to integrate an all-inclusive approach that will contribute to the safe-living, socio-economic development and sustainable urban development of the sub-region.

 

How soon is the project execution commencing?

While there isn’t a clear-cut answer to this poser, we all can find solace in the fact that the project has reached its third stage – The displaying of final draft report for public engagement, this stage precedes the preparation of the final master plan.

 

The draft final report has been on display for public engagement in no less than twelve (12) different centers across the state and will remain so until September 30, 2020. Some of the display centers include: Old Secretariat - Ikeja, the Lagos State Physical Planning Permit Authority (LASPPA) office, along Beach Road, Ikorodu, secretariats of: Ikosi-Isheri, Agboyi-Ketu, Igbogbo-Baiyeku, Ikoeodu West and Ikorodu North. Also included is the Ministry of Physical Planning and Urban Development, Alausa – Ikeja.

 

What does this mean for real estate enthusiasts?

 

Generally, the Ikorodu Master Plan is expected to nip the various physical planning and environmental issues bedeviling the area, and consequently stimulate socio-economic growth.

 

Understanding the planning zones for residential and commercial development will help the savvy investor acquire land strategically to take advantage of the developmental plans of the State Government.

 

Ikorodu area still has some of the lowest Land prices in Lagos State. Good bargains can be snapped up especially for the investor or developer who is ready to adopt a long term perspective. The long term approach will guarantee strong value appreciation expected to come with implementation of the regional plan. Strategic positioning based on the coming plans of the state government is the key.

 

We visited the State secretariat at Alausa to get a copy of the plan, but unfortunately they did not have one we could take. However, we got to take pictures of the plan on display.

 

Check it out below. You can also click here to view a higher resolution image.

 

Study them, and let’s know if you get any insights on how to strategically invest in Ikorodu.

 

Good Luck!