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ROYAL COURTS ESTATE
Royal Courts is located at Igbesa Agbara, Ogun State after OPIC estate along Atan road, off Badagry Expressway. The estate is situated just by an existing tarred road and shares boundary with Gateway City Polytechnic to the left and OPIC residential estate on the southern side. The Ogun State free trade zone already under construction is located right opposite Royals Courts, Igbesa. Other existing institutions around Royal Courts are Multinational companies (Unilever plc, Nestle, Glaxo Smithklime etc), Crawford University, Prime Estate Igbesa, Covenant University, Cedar Estate etc WHY SHOULD I INVEST IN REAL ESTATE? Owning a home is a keystone of wealth, both financial affluence and emotional security. Donald Trump (Real estate billionaire) WHAT ARE THE NAMES OF OTHER ESTATES AND INSTITUTIONS ETC WITHIN 2KM RADIUS OF ROYAL COURT ESTATE? A Agbara Estate, Opic Estate, Upcoming Two Universities, Free Export Trade Zone, Multinational Manufacturing Companies, Shell Gas Company, Cedar Garden Estate, Prime Estate Etc. WHO IS THE DEVELOPER OF ROYAL COURT ESTATE? Roy – Hill Realties Ltd; 1st Floor, Valley View Plaza; 99, Opebi Road, Ikeja Lagos Nigeria. WHAT IS THE PRICE PER PLOT? N550, 000 is the promotion offer for instalment payment at N25,000 per month which is valid while offer lasts. Outright payment is N500,000. WHAT IS THE PRICE PER PLOT IN SIMILAR ESTATES BESIDE ROYAL COURTS The least selling plot in any estate around Royal Courts now is N650,000. WHAT IS THE SIZE OF A PLOT? 648 square meters or 60ft x 120ft or 18meters x 36 meters. i.e. Standard Plot. WHAT IS THE MODALITY OF THE ESTATE? It shall be for Site and Services. WHAT HAPPENS IF A LESSER OR BIGGER SIZE OF LAND IS ALLOCATED TO ME? The financial equivalence of the shortfall as measured in area will be backed off the total cost and it will be refunded. The opposite will also be true if the allocation is discovered to be more than 648sqm. IS THERE ANY ENCUMBRANCE ON THE LAND? The land is free from every known government acquisition and no any adverse claimant. WHAT TYPE OF INFRASTRUCTURE WILL THE DEVELOPER PROVIDE? Perimeter fencing, earth road, transformer and connection to the national grid, borehole water supply. WHAT INFRASTRUCTURE WILL THE DEVELOPER NOT PROVIDE? Electrification of individual houses (Poles and its stringing), connection of individual’s houses to the water mains, drainages, and tarred/paved road. WHAT OTHER PAYMENTS DO I MAKE APART FROM THE PAYMENT FOR THE LAND? There are no hidden charges to the amount payable for the plot(s) of land purchased e.g survey fee, legal fee etc. However, the owners of plots reserve the right to make their individual surveys or allow the estate developer to do the survey on their behalf for a fee. WHEN WILL ALLOCATION BE DONE? The First Set of Allocation will be done last week in June 2009 . Subsequently allocation date will be communicated to subscribers on the scheme. WHAT DO I GET AFTER COMPLETION OF PAYMENTS FOR THE LAND? Receipt, letter of allocation, estate covenants, survey plans and deed of assignments. WHAT TYPE OF TITLE DOES THE COMPANY HAVE ON THE LAND? Irrevocable power of attorney donated by the customary owners. DOES ROYAL COURT ESTATE HAVE A CERTIFICATE OF OCCUPANCY (C of O)? The Certificate of Occupancy for Royal Courts is being processed with the Ogun State government. WHAT HAPPENS IF I CANNOT COMPLETE PAYMENT OR DEFAULT IN THE PAYMENT OF MONTHLY SUBSCRIPTION? You will get a refund of total money paid less bank charges and 15% administrative expenses. CAN I PAY A DEPOSIT AND PAY THE BALANCE ANY TIME WITHIN THE DURATION OF TENURE CHOSEN E.G. 1 YEAR? 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 a fundamental breach of the contract which can result to termination or revocation of the contract. DOES ROYAL COURTS ESTATE CHARGE INTEREST ON THE BALANCE OF PAYMENT? The transaction is interest free. CAN I START CONSTRUCTION OR BUILDING ON THE LAND NOW? The Subscribers can start building upon 80% completion of payment for the Land. IS THE ROAD TO THE ESTATE GOOD AND MOTOR-ABLE EVEN DURING RAINING SEASON? Yes, the road to the estate is tarred and it is motor-able and accessible even at the peak of the raining season. IS THERE ANY RESTRICTION AS TO THE TYPE OF BUILDING I CAN PUT UP? Yes, you are limited to building residential houses and chosen block-type houses within the area designated as residential and commercial houses on area 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 allowed. IS THERE ANY TIME LIMIT TO COMMENCE WORK ON MY LAND AFTER ALLOCATION? The time limit is 3years by which you will be required to commence work immediately to control weeds. Otherwise you reserve the right to sell out rightly at the market prevailing price or ROY–HILL REALTIES LTD buys it back from you. ROY–HILL REALTIES LTD will be constrained to relocate defaulters. IF I PAY OUT RIGHTLY, DO I GET ANY DISCOUNT? Yes as much as 10% IS ELECTRICITY GOING TO BE 24/7? No, unless on a private arrangement because we are not providing electricity back up like estate generator except the estate association unanimously decides to organise for such. HOW WILL PAYMENTS BE MADE? The payment will be made into the company’s account with Bank PHB, Diamond Bank and Intercontinental Bank. IS THERE GOING TO BE A CENTRAL BOREHOLE? Yes, at designated points. WILL EACH HOUSE HAVE ACCESS TO WATER? Connection to water mains shall be done by the subscriber. IS THERE A PARTICULAR PRICE RANGE FOR DIFFERENT TYPES OF HOUSES? Yes, depending on the conveniences and finishing touches. WHO WILL BE RESPONSIBLE FOR BUILDING PLAN APPROVAL COST? Individuals will be responsible for the cost of building plan approval though ROY–HILL REALTIES LTD can help with the guidelines and general consultancy.
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