Interesting Facts about Magodo Phase 2 & 1 Estate, Lagos. – This article is a review of Magodo phase 2 GRA Estate, a highbrow residential area, reputed to be the best place to live and socialize on the Mainland side of Lagos State, in Nigeria. In this article, we will look at the History of the place, including the structure and topography of the land, as well as its attractions which make it tick, and the prospects for the future as a place where a person can buy a home as an investment.
Interesting Facts about Magodo Phase 2 Estate
Location of the Estate
Magodo is located at the Lagos mainland, on a spot along the Lagos-Ibadan expressway, which is close to the border between Lagos State and Ogun State. Magodo is neighbors with Ikosi-Ketu and Ojodu Berger with which it shares borders. Magodo, along with the neighboring towns mentioned above is in Kosofe Local Government Area of Lagos State. Magodo Estate is just a few minutes’ drive to & from Ikeja, the capital of Lagos State, and the Muritala Mohammed International Airport.
History of Magodo
Magodo as a habitation dates back many years when there was a small but thriving community there. The name ‘Magodo’ comes from the Yoruba phrase ‘Ma gun Odo’ which means “Don’t pound on a mortar”. Apparently the residents of the land in the olden days considered it a taboo to use mortars and pestles. Apparently some indigenous residents of the place still hold to that tradition, although it has now been largely abandoned especially since the have no way of enforcing that law.
Structure of the Estate
Magodo is a well-structured estate and perhaps the most attractive residential environment in the whole of the Lagos Mainland. The area was initially created as a GRA for government workers, but has since been seen an upgrade and is now home to the ‘monetized’ – the middle -class as well as high income earners who may be due to their business or work location choose to be on the Mainland, or perhaps those who are running away from the frequent flooding on the island, or who just see the future prospects of Magodo and so want to key into the opportunity it presents.
Magodo is divided into two phases- Magodo GRA Phase 1 which is located in the Isheri area and Phase 2 in Shangisha, which is on CMD Road. There are several streets within the GRA which are grouped together as ‘Zones’ to aid the management as they have their individual security posts and security guards on patrol.
Magodo Phase 2 GRA
The Topography of the Estate
The ground is firm and tough- the ground has been stable like this for centuries, not like the island which is largely swampland that was sand-filled, or ocean beaches that were reclaimed to enable expansion. Most street roads within the GRA are steep and sloppy, which indicates that the estate is sited on a hill, which in turn means that the town is immune to flooding!
Attractions to Magodo
Apart from the immunity to flooding, there are many other reasons why this is a perfect place to settle down and raise kids.
The modern structures come with a touch of modern beauty, however, there are still a few old houses which add to the contrast and beauty and sense of history. To aid ease of movement, the estate has its shuttle buses that operate within, and there are also motorcycles which are allowed but not within the zones. There is also the good security structure in Magodo, we shall back to this later in the post. The estate also boasts of very good hospitals that can handle any of your potential medical needs. We shall highlight all these attractions one by one later in the post.
Perhaps the biggest benefit of living in Magodo is its closeness to Ikeja which is a major commercial city in Lagos. Living in Magodo means that one has access to all the ‘good stuff’ in Ikeja, including the business and work opportunities, the social life which offers the chance to meet with some of the most talented and business-savvy people in Lagos, the entertainment and nightlife, and so on.
Magodo GRA Shangisha
Property Price Appreciation
If you buy a house in Magodo right now you could be making the investment decision of your life, and your children would thank you forever. This is because property prices in Magodo have been on a steady increase for years, and looks like it will continue to do so, meaning that Magodo will continue to be a haven for the Nouveau Riche, the middle-class and those who are crossing the border from middle-class to rich. Magodo GRA being a luxury and expensive neighbourhood, property prices in Magodo are already comparable to that of Ikeja GRA, Lekki, and even the mighty Victoria Island.
Here below we give out a rough estimate of what it might cost to get a piece of property in Magodo Estate, in the Mainland of Lagos.
You can get a 3 bedroom flat for about ₦750,000 – 2 million for a yearly rental contract. You will still need to pay for your utilities, including security.
To buy a 4 bedroom terrace apartment you would need to shell out about – ₦60 million Naira, the fee does not include agency fees.
To get a 4 bedroom semi-detached/fully detached duplex you would need to pay ₦2 million – ₦3 million for a yearly rental contract, but to purchase the property outright you would need to shell out about ₦80 million – ₦100 million Naira.
To get a 5 bedroom semi-detached building you would have to pay ₦3 million per year, but to buy the place you would need to vomit ₦90 million – ₦115 million naira.
To get a 5 bedroom fully detached duplex on a purchase basis you would need to pay the whopping sum of ₦75 million – ₦180 million naira.
Please note that the prices stated above do not include monthly service charges and that these charges vary based on the zone in the Estate.
Furthermore, this is not investment advice; please contact your solicitor, mortgage banker, or any other trusted investment adviser before paying any money to anyone.
SECURITY IN MAGODO PHASE 2 GRA
Both phases of Magodo GRA have gated entrance. Magodo GRA Phase 1 entrance is around Isheri area while Phase 2 is along Shangisha on CMD road. There are two entrances and exits for Phase 2. The official entrance on CMD Road, i.e the Secretariat is for residents with estate tag only. Also, only the estate residents can exit through this gate. The unofficial entrance is unrestricted, however, there are security personnel at both points. Almost every street in the GRA is barricaded for security checks before entrance. These streets are called Zones e. g Foreshore Zone, Nelson Nweke Zone, Gateway zone and so on. There is also the Magodo Security Patrol Team, Magodo Phase 1 Police Post in Ikosi-Isheri Local Council Development Area, and another police post in Phase 2.
Magodo Specialist Hospital
Vision Capital Eye Hospital
Sky High Medical Center
To get accurate directions and traffic time from anywhere in Lagos to Magodo.
Magodo can be accessed via the Lagos-Ibadan expressway. People living in Magodo environs and working on the Island have to go through the third mainland bridge which is usually congested during peak hours/ rush hour between the hours of 6 am to 8 am. Evening traffic heading to the mainland begins at 4 pm. It takes less than an hour to get to Magodo from the Island on a good day without traffic.
ROADS, DRAINAGE & FLOODING STATUS
Magodo GRA has a very good network of well-paved roads and a good drainage system. Most of the street roads are steep/sloppy.
ELECTRICITY & WATER SUPPLY
Electricity supply within the estate is fair also considering it is a high-end neighbourhood. The electricity supply is from IKEDC and residents also use generators.
Residents in the estate have boreholes as well as water purification system.
There are branches of Zenith bank along CMD Road, Keystone Bank, Access Bank, GTB
MALLS, COMMERCIAL CENTERS, AND MARKETS
There are several supermarkets/plazas, for example, Estate Plaza
The closest local market is the Mile 12 Market. But there are many petty traders along Magodo road. The estate is very calm and serene, minimal noise from cars (no horning allowed except when very necessary). The closest local market is the MILE 12 market, one of the largest and busiest perishable food market situated in Ketu, along Ikorodu road. Mile 12 market is open daily from early hours of the morning till late night. Fresh food including fruits, vegetables, tomatoes, yam, palm oil, fresh meat, and many more are sold here in both retail and wholesale at a much cheaper rate than what is obtained in other Lagos markets.
Magodo Phase 2 GRA Scenery Video
The tranquility of the neighbourhood comes with no rowdiness, privacy, well-paved streets, good waste management, and little or no traffic.