Breaking News Nigeria, Latest Nigerian News
  • Home
  • News
    • Business
    • Politics
    • Science
    • World
    NewsShow More
    soludo
    Nigeria in Brief: Soludo signs a 260billion Naira budget into law as FG denies N89trn stamp duty scam
    December 14, 2022
    cbn
    Nigeria in Brief: CBN shares 9 trillion Naira to combat food inflation, others
    December 13, 2022
    atiku
    Nigeria in Brief: Atiku denies the existence of Sambisa Forest, and other trending news
    December 12, 2022
    INEC
    Nigeria in Brief: INEC reveals a top secret, and other trending news today
    December 11, 2022
    emefiele
    Nigeria in Brief: Reps and Senate to grill Emefiele, and other trending news in Nigeria
    December 9, 2022
  • Politics
    • Politics Featured Section
    • Politics Story for You
    PoliticsShow More
    soludo
    Nigeria in Brief: Soludo signs a 260billion Naira budget into law as FG denies N89trn stamp duty scam
    December 14, 2022
    atiku
    Nigeria in Brief: Atiku denies the existence of Sambisa Forest, and other trending news
    December 12, 2022
    INEC
    Nigeria in Brief: INEC reveals a top secret, and other trending news today
    December 11, 2022
    emefiele
    Nigeria in Brief: Reps and Senate to grill Emefiele, and other trending news in Nigeria
    December 9, 2022
    ex-president goodluck Jonathan's car accident
    Why I will never be Nigeria’s president again – Jonathan
    December 8, 2022
  • Business
    • Business Editor’s Pick
    • Business Featured Section
    • Business Story for You
  • SMARTKOBO
  • Entertainment
    • SportsNews
    EntertainmentShow More
    INEC
    Nigeria in Brief: INEC reveals a top secret, and other trending news today
    December 11, 2022
    troll
    Netflix and chill: 10 must-watch movies on Netflix right now
    December 10, 2022
    d'banj
    D’banj arrested, detained for allegedly stealing N-Power money
    December 7, 2022
    national-sports-festival-stephen-keshi-stadium
    Six states fight to host 2024 National Sports Festival after Delta
    December 7, 2022
    samm-okposo
    Singer, Sammie Okposo to be buried Dec 15, see burial arrangement
    December 5, 2022
  • #2023Elections
Reading: Size Matters: How to know what plot size you are buying
Share
Notification Show More
Latest News
nigeria presidential election
Presidential Election: Nigerians face obvious choice in 2023. Will they take it?
January 16, 2023
Nigeria in Brief: Mercy Johnson reveals battle with cancer and other trending stories today
January 14, 2023
Nigeria in Brief: Lagos Blue Rail Line ready for operations, Peter Obi leads in fresh poll
December 22, 2022
cbn
CBN bows to pressure, increases weekly cash withdrawal limit to N500k
December 21, 2022
JAMB releases registration date for UTME 2023
December 21, 2022
Aa
Aa
Breaking News Nigeria, Latest Nigerian News
  • Home
  • News
    • Business
    • Politics
    • Science
    • World
  • Politics
    • Politics Featured Section
    • Politics Story for You
  • Business
    • Business Editor’s Pick
    • Business Featured Section
    • Business Story for You
  • SMARTKOBO
  • Entertainment
    • SportsNews
  • #2023Elections
Have an existing account? Sign In
Follow US
  • Home
  • News
  • Politics
  • Business
  • SMARTKOBO
  • Entertainment
  • #2023Elections
© 2022 Nigeria Today News. All Rights Reserved.
Breaking News Nigeria, Latest Nigerian News > SmartKobo > Size Matters: How to know what plot size you are buying
SmartKobo

Size Matters: How to know what plot size you are buying

Lerato Lekena
Lerato Lekena August 19, 2021
Updated 2021/08/19 at 7:35 AM
Share
Plot sizes
SHARE

Understanding plot sizes in Nigeria

Marketing language seems to be causing, especially the novice buyers, some difficulties in knowing what plot sizes they are buying. And when I tag marketing as a culprit it is because, in many marketing and listing materials, the offers are listed as “A plot of land for sale” and this is irrelevant of what size of land they are offering.

What this tends to do is give some people the idea that a plot is that size they are offering and/or buying so when they are discussing a purchase in other areas they are enabled to compare against each other.

Technically, stating ‘a plot of land for sale’ when the size is not the most common size allocation in that area; is not the best way of making such an offer. This is so in my opinion because a plot is expected to have a standard measure and so even though plot sizes aren’t standard across the country, we should at least be able to give a fair appreciation of what is to be expected when buyers see/hear about a plot of land for sale.

For example, a plot as relates to real estate is defined as a small piece of ground marked out for a purpose such as a building. And because there is actually no standard plot size in Nigeria, below are the various different land sizes that can be referred to as a plot of land:

- Advertisement -
  • 60ft x 120ft (About 668.9sqm): This is a measurement common in Lagos state and Ogun states.
  • 50ft x 100ft (About 464.5sqm): This is the standard of measurement in Edo, Oyo and Rivers states, among others. Also you are most likely to see this measurement than any other in Abuja.
  • 100ft x 100ft (About 929sqm): This particular plot size is commonly found in commercial zones, or areas where land is still very cheap.
  • 500sqm: 500 square meters is a rare but predominantly growing plot size and you mostly find it within residential estates or expensive high-brow areas.
  • 600sqm: This is a common plot size in well planned estates, especially in Lagos and Ogun states.

But in some cases, there have been instances where marketers try to define the plots by sizing like half or quarter plots. This has been found to be a growing happenstance and as a buyer, you are better off asking for the size of the plot rather than assuming when being made an offer.

RELATED STORIES

  • 3 ways to get out of bad real estate investment and recoup some, if not all your money
  • 3 simple guides to extracting incredible value from your property investment
  • How to make passive income with real estate in Nigeria

As land gets even scarcer and prices climb up, many buyers find it more affordable to go for smaller land sizes such as quarter, half, and/or custom-sized plots within their budgets. And this has become a way for the developers to quickly sell out their plots especially within designated estates because the sizes on sale are not cast in stone.

If you are an investor who is interested in land banking, then chances are that you will be looking to invest in virgin lands that are not particularly defined by plot size but by the mass land measures – which are mostly more defined. These larger size measures would also apply to investors looking to purchase land for commercial, production, and/or retail use to include farming, industrial setup, and shopping mall development.

- Advertisement -

1.ACRE: Unlike a plot of land, an acre of land has a fixed size anywhere in the world. An acre of land is 4,046.9sqm or 43,560sqft. An acre of land contains 6 plots if the plot size is 60 x 120. For a plot size of 50 x 100, an acre would contain 8 and a half plots.

2. HECTARE: Just like the acre, the size of a hectare is fixed. A hectare contains about 2.5 acres and roughly 15 plots of 60 x 120 land. A hectare is 100m x 100m = 10,000sqm.

As you might have noticed, Square meters(sqm) have been the predominantly used measure and this is a metric measure of the land size with relation to the area covered. A square meter measure is arrived at by multiplying the linear measurements of length and breadth.

For example, where a plot of land being marketed for sale is defined by the overall plot size of either 300/500/600sqm until you are allocated and given the exact dimensions (also known as the layout of the plot) you will be unable to assertively design whatever you want to build and any seasoned practitioner would advise that you wait till you get that before going ahead to make building assumptions or conclude on building plans.

…to be continued

For more information, discussions and strategies on real estate investing, you can contact Lerato via email here. Lerato uses her business social media pages to address, educate and enlighten her followers on the same.

For more insights on real estate investing, get Lerato’s e-book here

TAGGED: plot sizes in nigeria, real estate
Lerato Lekena August 19, 2021
Share this Article
Facebook TwitterEmail Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

You Might Also Like

co-investment summit
BusinessBusiness Story for YouSmartKobo

Maiden edition of 2022 real estate co-investment summit kicks off today

December 8, 2022
real estate
Breaking NewsSmartKobo

How to beat inflation through real estate investing

July 26, 2022
real estate investing
Breaking NewsSmartKobo

Real Estate Investing Tips: Knowing when to buy, keep or resell

July 8, 2022
off-plan investing
SmartKobo

Leveraging off-plan investing for wealth creation in real estate

May 10, 2022
nigeria today news logo
Nigeria Today News logo

Subscribe to our newsletter

Please wait...
Want to be notified when our article is published? Enter your email address and name below to be the first to know.

Most Recent News

soludo
Nigeria in Brief: Soludo signs a 260billion Naira budget into law as FG denies N89trn stamp duty scam
Breaking News Business Politics December 14, 2022
cbn
Nigeria in Brief: CBN shares 9 trillion Naira to combat food inflation, others
Breaking News Business December 13, 2022
atiku
Nigeria in Brief: Atiku denies the existence of Sambisa Forest, and other trending news
Breaking News Politics December 12, 2022
INEC
Nigeria in Brief: INEC reveals a top secret, and other trending news today
Breaking News Entertainment Politics Sports December 11, 2022
emefiele
Nigeria in Brief: Reps and Senate to grill Emefiele, and other trending news in Nigeria
Breaking News Politics December 9, 2022

Most Viewed Posts

  • World cup qualifiers: See the full list of 30 players invited to represent Nigeria (1,569)
  • WAWU! Flavour marries first baby mama Sandra Okagbue (1,065)
  • BREAKING! Flutterwave shuts down Barter virtual dollar card services, to terminate all cards by July 17 (961)
  • 10 smart businesses you can start in Nigeria today with zero capital and make money immediately (Part 1) (892)
  • Oyo South senatorial primaries abandoned due to irregularities (722)

Stay Connected

Facebook Like
Twitter Follow
Pinterest Pin
Instagram Follow

© 2022 Nigeria Today News. All Rights Reserved.

  • About
  • Privacy & Policy
  • Terms
  • Contact
Please wait...

Subscribe to our Nigeria Today News

Want to be notified when our article is published? Enter your email address below to be the first to know.
SUBSCRIBE

Removed from reading list

Undo
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Register Lost your password?