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FREQUENTLY ASKED QUESTIONS (CEDAR GARDEN)
Q. WHERE IS CEDAR GARDEN?
A It is located after Opic Estate which is popularly called Medina Tipper Garage along Atan Road off Badagry Expressway in the same neigbourhood with Lora International School.
Q. WHAT ARE THE NAMES OF OTHER ESTATES AND INSTITUTIONS ETC WITHIN 2KM RADIUS OF CEDAR GARDEN?
A Agbara Estate, Opic Estate, Upcoming Two Universities, Free Export Trade Zone, Multinational Manufacturing Companies, Shell Gas Company Etc.
Q. WHO IS THE DEVELOPER OF CEDAR GARDEN?
A. Pentagon Real Estate Investment Limited. Full Address is available on the flyer.
Q. WHAT IS THE PRICE PER PLOT?
A. N650, 000 is the promotion offer which is valid while offer lasts.
Q. WHAT IS THE SIZE OF A PLOT?
A. 648 square meters or 60ft x 120ft or 18meters x 36 meters.i.e Standard Plot.
Q.WHAT IS THE MODALITY OF THE ESTATE?
A. It shall be for Site and Services.
Q. WHAT HAPPENS IF A LESSER OR BIGGER SIZE OF LAND IS ALLOCATED TO ME?
A. 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.
Q. IS THERE ANY ENCUMBRANCE ON THE LAND?
A. The land is free from every known government acquisition and no any adverse claimant.
Q. WHAT TYPE OF INFRASTRUCTURE WILL THE DEVELOPER PROVIDE?
A. Perimeter fencing, earth road, transformer and connection to the national grid, borehole water supply.
Q. WHAT INFRASTRUCTURE WILL THE DEVELOPER NOT PROVIDE?
A. Electrification of individual houses (Poles and its stringing), connection of individual’s houses to the water mains, drainages, and tarred/paved road.
Q. WHAT OTHER PAYMENTS DO I MAKE APART FROM THE PAYMENT FOR THE LAND?
A. Subscribers shall pay N100,000 for the survey of each plot and N20,000 for the legal documentation before the allocation.
Q.WHEN WILL ALLOCATION BE DONE?
A. The First Set of Allocation will be done
last week in April 2009 . Subsequently allocation date will be
communicated to subscribers on the scheme.
Q. THE DEVELOPMENT LEVY WILL BE USED FOR WHAT?
A. Provision of electric poles, strings for the distribution of energy and distribution of water mains.
Q. WHEN DO I PAY DEVELOPMENT LEVY?
A. After full payment for the land and other charges like the Legal & Survey Fees.
Q. WHAT DO I GET AFTER COMPLETION OF PAYMENTS FOR THE LAND?
A. Receipt, letter of allocation, estate covenants, survey plans and deed of assignments.
Q. WHAT TYPE OF TITLE DOES THE COMPANY HAVE ON THE LAND?
A. Irrevocable power of attorney donated by the customary owners.
Q. DOES CEDAR GARDEN HAVE A CERTIFICATE OF OCCUPANCY (C of O)?
A. Pentagon Real Estate Investment Ltd now has a Certificate of Occupancy on Cedar Garden (See Ogun State Publication in Compass Newspaper dated October 15, 2008, page 28).
Q. WHAT HAPPENS IF I CANNOT COMPLETE PAYMENT OR DEFAULT IN THE PAYMENT OF MONTHLY SUBSCRIPTION?
A. You will get a refund of total money paid less 2.5% administrative expenses.
Q. CAN I PAY A DEPOSIT AND PAY THE BALANCE ANY TIME WITHIN THE DURATION OF TENURE CHOSEN E.G. 1 YEAR?
A. 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.
Q. DOES CEDAR GARDEN CHARGE INTEREST ON THE BALANCE OF PAYMENT?
A. The transaction is interest free.
Q. CAN I START CONSTRUCTION OR BUILDING ON THE LAND NOW?
A. The Subscribers can start building upon completion of payment for the Land, Survey and Legal Fees and of course the development Levy.
Q. IS THE ROAD TO THE ESTATE GOOD AND MOTORABLE EVEN DURING RAINING SEASON?
A. Yes, The road to the estate is motor-able and accessible even at the peak of the raining season.
Q. IS THERE ANY RESTRICTION AS TO THE TYPE OF BUILDING I CAN PUT UP?
A. Yes, you are limited to building residential 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.
Q. IS THERE ANY TIME LIMIT TO COMMENCE WORK ON MY LAND AFTER ALLOCATION?
A. The time limit is 2 years 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 PREIL buys it back from you.PREIL will be constrained to relocate defaulters.
Q. IF I PAY OUT RIGHTLY, DO I GET ANY DISCOUNT?
A. Yes as much as 5%
Q. IS ELECTRICITY GOING TO BE 24/7?
A. 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.
Q. HOW WILL PAYMENTS BE MADE?
A. The payment will be made into the company’s account with Fidelity Bank, UBA, Zenith Bank, Diamond Bank, GTBank and FCMB etc.
Q. IS THERE GOING TO BE A CENTRAL BOREHOLE?
A. Yes, at designated points.
Q. WILL EACH HOUSE HAVE ACCESS TO WATER?
A. Connection to water mains shall be done by the subscriber.
Q. IS THERE A PARTICULAR PRICE RANGE FOR DIFFERENT TYPES OF HOUSES?
A. Yes. depending on the conveniecences and finishing touches.
Q. WHO WILL BE RESPONSIBLE FOR BUILDING PLAN APPROVAL COST?
A. Individuals will be responsible for the cost of building plan approval though Pentagon can help with the guidelines and general consultancy.
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