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PRIME ESTATES
P.E 1 & P.E 2: P.E Pakuro: P.E Igbesa: What are the names of other estate and institutions within 3 KM radii of prime estate? P.E 1 & P.E 2: P.E Pakuro: P.E Igbesa: Who is the developer of Prime Estates? A consortium managed by Realty Point Limited. What is the price per plot for residential and commercial plots respectively? | |||||||||||||||
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What is the size of residential/commercial plot? Approximately 648 square meters or 60ft x 120ft or 18meters x 36 meters for Residential and Commercial plots are as indicated in the approved layout. Any special infrastructure? Green parks, Police/Security Post. These are to be maintained by RPL on behalf of the residents. Is there any encumbrance on the landed properties? The landed properties are free from every known government acquisition and no adverse claimant. What types of infrastructure will the developer provide? Perimeter fencing, earth road, transformer and connection to the national grid, boreholes randomly sited. What infrastructure will the developer not provide with the purchase price? Electric poles and strings, piped water system, drainage, and road network. How will price increase in price affect subscribers? Increase in price will not affect existing subscribers in any way except if/when they want to subscriber for additional plot(s). What other payments do I pay apart from the payment for the land? Survey fee: N 90,000.00 Kindly note that the fees stated above are subject to review. The development levy will be used for what? Provision of drainage, electric poles and strings for the distribution of energy, randomly sited water stations and road network. When do I pay development levy? After allocation of plots by letter and handover but before construction work can start. When will my (plots) be allocated to me? In batches of at least 100 subscribers after full payment for the land, survey fee and legal documentation. Can I start construction or building on the land now? Yes you can start building on the land immediately after physical allocation and payment of the stipulated development levy. What do I get after completion of payments for the land, survey and title document? Receipt, deed of contract, letter of allocation, estate covenants, survey plans and Power of Attorney/Deed of Assignment. What type of title does Realty Point limited have on the land? Exclusive irrevocable power of attorney donated by the customary owners. Does Realty Point ltd have certificate of occupancy (C of O)? Realty Point Limited initiates the process of getting C of O immediately as part of the acquisition process. We already have C of O for P.E 1, registered survey & approved layout for P.E 2 and permeter survey for P.E Pakuro and Igbesa. What about omo-oniles? You will not have any nexus with omo-oniles. and nothing like owo foundation & co. What title would I get eventually? Deed of sub-lease/ Assignment of the unexpired term of 99 years less one day. What happens if I cannot complete payment or default in the payment of the monthly subscription? You will get a refund of total money paid less 15% administrative expenses/ agency fee. Can I pay a deposit and pay balance anytime within the duration of tenure chosen (e.g 20, 24 months, e.t.c)? After the payment of the initial deposit you are expected to pay the balance monthly. Non payment monthly as at when due will be treated as fundamental breach of contract which can result to termination or revocation of contract. The developer is not required to put you on notice in this case. Does Realty Point Limited charge interest on the balance of payment? No. the transaction is interest free. Can I start construction or building on the land now? You can start building on the land immediately after physical allocation and payment of the stipulated development levy. Are the road to the estates good and motor able even during raining season? Yes the roads to P.E 1 & P.E 2 are tarred, good and motor able during both seasons. The road to P.E Pakuro shall be made very motor able all season. P.E Igbesa is also very accessible all season. Is there any restriction as to the type of building I can have? Yes, you are limited to building residential houses within the area designated as residential and commercial structures in areas designated as commercial. Provision of shops in residential houses and building of tenement house type (popularly known as FACE ME I FACE YOU) is not permitted. Is there any time limit to commence work on my land after allocation? 18 months after allocation for at least fence and gate and after another 5years for structural development, making a total of 6 year and 6 months grace period after allocation. Can I re-sell my plot/property? Realty Point Limited can buy back plots from subscribers who have paid up on their land or assist to get a buyer. A charge of 10% (agency fee) is deducted from purchase/selling/current price in either of the cases. Is Realty Point Limited going to assist subscribers in accessing national Housing Fund (NHF) loan? Yes, Realty Point Limited has Mortgage Institutions that are ready to partner with us in providing NHF and other Mortgage loan for subscribers. Can I pay cash to your Agent? While we are not discrediting anybody, we strongly advice that cash should be paid to REALTY POINT LIMITED designated bank accounts. Otherwise, cheques should be issued in favor of REALTY POINT LIMITED only. Please note that the management of REALTY POINT LIMITED accepts no responsibility for any liability that may arise as a result of deviation from the above instruction.
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