Lagasa Town – FAQ

PINEHURST ESTATE, LAGASA TOWN, LEKKI PENINSULA, LAGOS.

FREQUENTLY ASKED QUESTIONS / TERMS AND CONDITIONS OF PURCHASE

QUESTION 1. WHERE IS PINEHURST ESTATE, LAGASA TOWN LOCATED?

ANSWER – PINEHURST ESTATE, LAGASA TOWN is situated in Lagasa Area, KM 35, Off Lekki-Epe expressway. It’s about five minutes’ drive from Mayfair Gardens Estate and about 20 minutes’ drive from VGC. It is 40 minutes’ drive before the Lekki Free Trade Zone.

QUESTION 2. WHO ARE THE DEVELOPERS/CONSULTANTS  OF PINEHURST ESTATE, LAGASA TOWN?

ANSWER – PINEHURST ESTATE, a top notch Real Estate Development Company with construction and project management experience in the real estate sector, we have a joint venture with DARCHI WORKGROUP an architectural and Construction Company. MSG Energy UK, is providing solar solutions to the estate facilities, we are geared towards providing a retreat lifestyle environment in a gated community with life enhancing facilities.

QUESTION 3. WHAT TYPE OF TITLE DOES PINEHURST ESTATE HAVE ON THE LAND?

ANSWER –  GAZETTED IN 1995 WITH SURVEY WHICH IS 16.8 Hectares in total

QUESTION 4. ARE THERE ANY ENCUMBRANCES ON THE LAND?

ANSWER –  The land is free from every known Government acquisition or interest and adverse claims.

QUESTION 5. WHAT IS THE PAYMENT TERMS FOR STRUCTURED PAYMENTS AND OUTRIGHT PAYMENTS?

(a) Payment of the sum of N3.6M for 600SQM AND N4.4M for 900SQM [Promo Price] for regular plots [Call for Commerical and Waterfront Plots]

(b) Outright payment is N3M for 600SQM and 900SQM for N4M – PROMO PRICE TILL DECEMBER 31, 2017

(c) Initial payment is 50% of the land cost for structured payment plans

IMPORTANT NOTICE

Non-payment of the monthly installment as at when due shall be treated as a fundamental breach of the contract which will result in termination or revocation of the contract/OR attract charge of 10% of the month payment. We would take post-dated cheques for the structured payment arrangements.

QUESTION 6. WHAT ARE THE SIZES OF THE PLOT?

  1. A. 600SQM – STANDARD PLOTS
  2. 900SQM – CORNERPIECE PLOTS

QUESTION 7.  IS THE ROAD TO THE ESTATE MOTORABLE AND WHAT IS THE TERRAIN LIKE?

  1. A. Yes the road to the estate is motorable, the land has a waterfront view by the Lagoon and upland about 200meters before the Lagoon.

QUESTION 8. WHAT OTHER PAYMENTS DO I MAKE APART FROM THE PAYMENT FOR THE LAND?

(a)   Deed of Assignments:                 N 100,000 only per plot (50%discounted price)

(b)   Registered survey fee:                N 500,000 only per plot (Standard price from our registered surveyors)

(c)   Development  Fee:                      N 500,000 only per plot (For a limited number of plots normally N 500,000 )

QUESTION 9. WHEN DO I MAKE THE OTHER PAYMENT?

(a) Survey Plan can be done before or after the land title is out.

(b) The Deed of Assignment and Development Levy will be paid upon receipt of title documents

QUESTION 10. WHAT DO I GET AFTER THE INITIAL DEPOSIT

ANSWER –  Sign up package consist of receipt of payment and provisional allocation of plot based on layout availability.

QUESTION 11. WHAT DO I GET AFTER COMPLETING PAYMENT FOR THE LAND?

  1. Completion of payment receipt
  2. Contract of sales
  3. Deed of Assignment upon clearing of land and delivery of survey
  4. Registered survey plan after physical allocation is done.
  5. Governors consent – can be processed by our legal team on your behalf at a fee

QUESTION 12. CAN I START CONSTRUCTION OR BUILDING ON THE LAND NOW?

ANSWER – Allocation of land is intact on estate layout whist physical land allocation would be conducted after clearing and mapping out of the land in the estate. However the Estate has 2 years development plan within which all site activities would have been completed. Clearing, mapping layout in the 1st year (2017), physical plot allocation in the 1st year (2017) construction of building would commence from July 2018 after payment of development levy.

QUESTION 13. IS THERE ANY RESTRICTION REGARDING BUILDING TYPES I CAN CONSTRUCT IN THE ESTATE?

ANSWER –  YES. The estate layout is in sections and you are limited to build houses on each section based on designated use or plan for that section (commercial or residential) i.e bungalow, terraces, detached house (duplex), maisonette. Note “face me-1 face—you” (tenement building) will not be permitted. All building design must conform to the required set back of building control of the estate and such design would be approved by the company and with LSG (LAGOS STATE GOVERNMENT) Town Planning departments afterwards, our consultants

can assist with design, project management and construction of your building at an affordable fee.  All land owners would have to do a soil test verified by our consultants before they commence construction.

QUESTION 14. CAN I RE-SELL MY PLOT/PROPERTY?

ANSWER –  YES a subscriber who has paid up on their land can re-sell their plots. PINEHURST ESTATE CO. would require the seller to furnish the company with details of the buyer.  Do note that a charge of 10% of the land consideration (covering transfer documentation fee) shall be paid to the company by the buyer.

QUESTION 15. CAN I PAY CASH TO YOUR AGENT?

ANSWER –  We strongly advice that cash payments should ONLY be made to PINEHURST ESTATE CO at its designated Banks; otherwise, cheque(s) should be issued in favor of PINEHURST ESTATE CO. We shall not accept any responsibility for any liability that may arise as a result of a deviation from the above instruction.

BANK ACCOUNT NAME

PINEHURST ESTATE CO

BANKERS – FCMB PLC

3282965013

BANKERS – ZENITH BANK PLC

1014880453

QUESTION 16. What happens if I cannot continue with the payment? Can I get a refund?

ANSWER –   Yes, you can apply for refund only if you have not been allocated your plots. In the event of a Refund, you are required to give the company Ninety (90) days notice to process your refund request and a further sixty (60) days if the process isn’t completed after the first 90 days. The refund shall be processed and paid less 40% (10% Administrative and 30% Agency fee).

THE INFORMATION PROVIDED, FAQ AND TERMS HEREWITH IS ACCEPTABLE AND CONSENTED BY ME, I ACKNOWLEDGE A COPY OF IT.