Prime Estates offers clients a wide range of vast opportunities. Whether you want to own a home or invest, you want to build for business or you want to have an industrial edifice, we suit you in every way and we give you a wide range of choice in different locales in the country.
Prime estates can be found in various areas:
Prime Estates 2
This Estates are on Papalanto Road, Ofada via Mowe, Obafemi Owode Local Government Area, Ogun State. About 25minutes drive from Lagos end of the toll gate.
FAQs - Prime Estates 2
Q1. Where are Prime Estates?
Ans: P.E 1 & P.E 2 on Papalanto Road, Ofada via Mowe, Obafemi Owode Local Government Area, Ogun State. About 25minutes drive from Lagos end of the toll gate.
Q2. What are the names of other estates and institutions within 3 KM radii of Prime Estate?
Ans: For P.E 1 & P.E 2, Jubilee Golden Estate, Redemption camp, the Redeemer University, Intercontinental bank training school, Cornerstone Estate, University, KICC University (proposed), Graceland Estate, Trinity Secondary school, U.A.C Co-Op Estate, Union Homes Staff Co-op Estate, Master Golden Estate, Good Shepherd Homes, Parkland Meadows, Rosebud Gardens, Honey Land Estate, Resort Estate, etc.
Q3. Who is the developer of Prime Estates?
Ans: Realty Point Limited. REALTY POINT LIMITED (RC 621592) is a dynamic multifaceted Pan-African real estate going concern primarily involved on the supply side of the industry, with a strong presence in Real Estate Development, Investment, Training/Consultancy and Marketing Syndications.
Q4. What is the size of residential/commercial plot?
Ans: 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. When allocated, account between RPL and the subscriber will be reconciled as to the actual size of the allocated plot(s). Where allocated plot is less than 648sqm, RPL will credit client’s account with the differential at the rate of purchase and vice versa.
Q5. Any special infrastructure?
Ans: Green parks, Police/Security Post. These are to be maintained by RPL on behalf of the residents.
Q6. Is there any encumbrance on the landed properties?
Ans: Before we commenced these projects, our thorough investigation reviewed that the landed properties are free from every known government acquisition and no adverse claimant.
Q7. What types of infrastructure will the developer provide?
Ans: Perimeter fencing, earth road, transformer and connection to the national grid, boreholes randomly sited to assist during construction.
Q8. What infrastructure will the developer not provide with the purchase price?
Ans: Electric poles and strings, piped water system, drainage, and road network.
Q9. How will increase in price affect subscribers?
Ans: Increase in price will not affect existing subscribers in any way except if/when they want to subscriber for additional plot(s).
Q10. What other payments do I make apart from the payment for the land?
i) Survey fee: N130,000
ii) Legal Documentation fee: N20,000.00
iii) Development Levy Deposit: N300/Sqm
iv) Development Levy Balance: N700/sqm2
Subscribers are allowed to pay the development levy balance over a maximum equal monthly installment period of 24months at N18, 900 per month. But the standing order/post dated cheques will be issued before allocation
v) Plot Maintenance Fee: N1, 000 monthly
Thereafter, Estate Services & maintenance Fee becomes payable per annum 12months after allocation
This applies only to a subscriber that is not coming forward to fulfill the requirements for allocation after paying for the plot(s). It becomes due and starts to accrue 12months after the completion of payment for plot (i.e the 13th month) till the client steps forward and fulfills all the necessary conditions for allocation. When necessary payments for allocation are to be made, arrears of Plot Maintenance Fees will have to be paid first.
a. Kindly note that the fees stated above are subject to review.
b. Where review of any fee takes place before a subscriber completes such payment, the reviewed amount is what becomes payable by the subscriber.
Kindly note that the fees and levy stated above are subject to review.
Q11. What do you mean by Development Levy Deposit?
Ans:Developmental Levy Deposit calculated now @ 300/sqm is the initial amount payable for infrastructural development in the estate. It represent about 30% of total payable as Dev. Levy subsequent payment for Developmental Levy will be when the final figure is calculated at the time the actual size of land is determined by Survey and current operating cost is known. This comes before construction and it is called final Developmental Levy.
Q12. What is the Development Levy used for?
Ans: Provision of drainage, electric poles and strings for the distribution of energy, randomly sited water stations and road network.
Q13. When do I pay Development Levy Deposit?
Ans: After completion of payment for Land and Documentation.
Q14. When will my (plots) be allocated to me?
Ans: Physical allocation will take place after completion of payment for Land, Documentation, Survey and Development Levy Deposit. The company shall identify the plot to be allocated and issue the subscriber a Sketch Survey. Upon receipt of the Sketch Survey, the subscriber is expected to move to site and take possession by commencing construction work, the least of which has to be perimeter fencing of the plot with gate within 2months of getting the sketch survey. It is the commencement of work within the 2months that will activate the issuance of the original Survey, Declaration of Deed Restrictive Covenant, Estate Management Agreement and the Allocation Letter.
It is strictly an attempt to ensure development in the estate is in a systematic way such as will enhance value of investment within the estate for all. Over subscription is being guided against and every subscriber who pays up on his/her subscription shall be allocated within the estate.
Q15. Can I start construction or building on the land now?
Ans: Yes, you can start building on the land immediately after physical allocation.
Q16. What do I get after completion of payments for the land, survey and title document?
Ans: Receipt, Deed of Contract, Letter of Allocation, Declarations of Deed Restrictions (Consists of Estate Covenant and Constitution of Landlord Association) also the Estate Management Agreement and Deed of Assignment.
Q17. What type of title does Realty Point limited have on the land?
Ans: We allocate progressively on first in line basis at the discretion of the company. However, preference shall be given to request for corner piece(s) plot allocation provided it is still available subject to the payment of a fee.
Q18. Does Realty Point Ltd have Certificate of Occupancy (C of O)?
Ans: 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.
Q19. What about Omo-oniles?
Ans: You will not have any nexus with Omo-oniles. No Omo-onile wahala. If at all there is, we deal with that, not you.
Q20. What title would I get eventually?
Ans: Deed of Sub-lease/ Assignment of the unexpired term of 99 years less one day.