GRACE COURT PHASE1 📍EPE TOWN

 

Q1. Where is Grace Court Pahse1 Located?

ANS: Grace Court Phase1 is Located opposite Micheal Otedola College of Education,Epe, Lagos.

 

Q2. Who are the developers of Grace Court Phase1?

ANS: ARKYHOMES LTd

 

Q3. What Land title is on Grace COURT PHASE 1? 

ANS: (Freehold) Registered Survey & Deed of assignment

 

Q4. Are there any encumbrances on the land?

ANS: No, the land at Grace Court Phase1 is free from government acquisition or interest and adverse claims.

 

Q5: What is the size of the plot?

ANS: 300SQM & 600SQM

 

Q6. What is the transaction sequence?

ANS:  Step1: Payment for Land

 

Step2: Collect receipt and contract of sale of land

 

Step3: Payment of Survey Plan and Deed of Assignment, Physical Allocation and Issuance of Allocation Letter, Issuance of Deed and Survey Plan.

 

Step4: Payment of Developmental Levy

 

Q7. What is the payment structure?

ANS: There are flexible payments available from 3 - 6months.

 

Q8. What document will I get after an Initial deposit?

ANS: Receipt of payment and Contract of sales

 

Q9. What other payments do I make apart from the payment of the Land?

ANS: Deed of Assignment Fee: ₦​150,000, Survey Fee: ​₦450,000 per plot

Development Levy: ​₦4200per SQM​ 

(The Developmental levy is the cost paid for the placement of infrastructure within the estate)

 

Q10. When do I make other payments?

ANS: Survey and Deed of Assignment should be paid before the physical allocation. The Developmental fee should be paid within 12 months on or after the receipt of Deed of Assignment.

 

Q11. When will my plot(s) be allocated to me?

ANS: Physical allocation of the plot(s) will be after full payments for Deed of Assignment, Survey/Allocation, and 50% of the Developmental levy has been made.

 

Q12. What are the facilities and benefits available in the estate?

ANS: Gate/Security House, Drainage System, Recreational Area, Solar Street Lights, Medical Facilities, Underground Electricity, Perimeter Fencing.

 

Q13. Is the Road leading to the Estate motor-able?

ANS: YES

 

Q14. When will the Development of the Estate commence?

ANS: Immediately

 

Q15. When can I commence with construction?

ANS: Construction can commence once the Developmental fee has been paid in full and all other Building approvals sought/received from relevant and appropriate Government authorities.

 

Q16. Is there any time limit to commence construction on my land after allocation?

ANS: Construction can commence within 4 months from the time of approval of the building plan.

 

Q17. Are there any restrictions on Building type?

ANS: YES. The estate layout is in sections, and you are limited to build houses on each section based on the designated designs/plans for that section. Also, all building design must conform with the required setback of building control of the estate and such design will be approved by the company and Lagos State Government afterwards.

 

Q18. Can I resell my plot(s)?

ANS: YES. A subscriber that has fully paid up his/her plot(s) can resell their land.

The buyer will inherit all the assets and liabilities of the plot(s). Arkyhomesltd Ltd would require the seller to provide the company with the details of the buyer.

 

Q19. If I can’t continue payment of my installment plan, can I get a refund?

ANS: YES. In the event of a refund, you are required to give 90 days’ notice to process your request. The refund shall be paid 30% less the amount paid for the plot(s).

 

Q20. Can I have survey for more than one (1) plot?

ANS: YES. However, payment for each survey (per plot) will be made in accordance with the number of plots purchased.

 

Kindly Note: After the initial payment, the remaining balance is meant to be paid monthly. Non-payment of the monthly installments as at when due will be termed as a fundamental breach of the agreement which can attract a charge of five per cent (5%) and possible relocation of the plot initially allocated to another portion within the estate with the same specifications.

 

Therefore, the information provided, FAQ and Term herewith is acceptable and consented by me. 

 

I acknowledge reading and receiving a copy of it.

 

 

 

All Payment must be made into ArkyHomes Ltd.

Zenith Bank: 1228554720

 

Subscriber’s Name:

 

Signature: ​