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FAQs - Prime Estates 1 & 2


Q1. Where are Prime Estates?
P.E 1 & P.E 2 on Papalanto Road, Ofada via Mowe, ObafemiOwode 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?
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 price per plot for residential and commercial plots respectively?


 Residential Plots

 Commercial plots

P.E 1

 Not available (N/A)

 Not available (N/A)

P.E 2

Only Available in Secondary Market with the following payment options:

N1,200,000 (Outright Fee)

N1,350,000 (6 months installment payment)

N1,500,000 (12 months installment payment)<


 N3,500 per/sqm (Price inclusive of plots & Development Levy)

Q5. What is the size of residential/commercial plot?
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.

Q6. Any special infrastructure?
Ans: Green parks, Police/Security Post. These are to be maintained by RPL on behalf of the residents.

Q7. 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.

Q8. 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.

Q9. What infrastructure will the developer not provide with the purchase price?
Ans: Electric poles and strings, piped water system, drainage, and road network.

Q10. 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).

Q11. What other payments do I make apart from the payment for the land?
i) Survey fee: N150,000 per plot
ii) Legal Documentation fee: N100,000 per plot
iii) Development Levy:  N648,000 per plot (1,000 per sqm)

Development Levy should be paid as follows:
3a) Development Levy: N400,000
3b) Development Levy: N248,000 (Spread over 6 months) Please note that payment for Development levy deposit and a bank standing order for the balance should be issued before allocation.

iv) Electricity Connection Fee: N50,000
v) Plot Maintenance Fee: N1,000 monthly

Thereafter, Estate Services & maintenance Fee becomes payable per annum 12months after allocation

Plot Maintenance Fee: 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 and to be paid per plot
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.

Q12. What do you mean by Development Levy Deposit?
Ans: Developmental Levy Deposit of N400,000 is the initial amount payable for infrastructural development in the estate. It is paid in full before allocation.

Q13. 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.

Q14. When do I pay Development Levy Deposit?
Ans: After completion of payment for Land and Documentation.

Q15. 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.

Q16. Can I start construction or building on the land now?
Ans: Yes, you can start building on the land immediately after physical allocation.

Q17. 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.

Q18. 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.

Q19. 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.

Q20. 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.

Q21. What title would I get eventually?
Deed of Sub-lease/ Assignment of the unexpired term of 99 years less one day.

Q22. What happens if I cannot complete payment or default in the payment of the monthly subscription?
If your land is revoked due to none or irregular payment of your subscription or you indicated your interest at discontinuing the transaction, refund is subject to resale of your plot and you get your contribution less Cost of Deed of Contract and 30% administrative charges in the least (effective from May 15, 2013).  Kindly note also that these charges are subject to review. 

Q23. Can I pay a deposit and pay balance anytime within the duration of tenure chosen (e.g 20, 24 months, etc)?
After the payment of the initial deposit you are expected to pay the balance monthly. Nonpayment monthly as at when due will be treated as fundamental breach of contract which can result to termination or revocation of contract. The developer is not required to put you on notice in this case and this is subject to appropriate deductions.

Q24. Does Realty Point Limited charge interest on the balance of payment?
No. the transaction is interest free.

Q25. Can I start construction or building on the land now?
You can start building on the land immediately after physical allocation and payment of the stipulated total development levy.

Q26.  Are the roads to the estates good and motorable even during raining season?
Yes the roads to P.E 1 & P.E 2 are tarred, good and motorable during both seasons.

Q27. Is there any restriction as to the type of building I can have?
Yes, you are limited to building residential houses within the area designated as residential and commercial structures in areas 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 permitted.

Q28. Is there any time limit to commence work on my land after allocation?
18 months after allocation for at least fence and gate and after another 5years for structural development, making a total of 6 year and 6 months grace period after allocation.

Q29. Can I re-sell my plot/property?
Realty Point Limited may buy back plots from subscribers who have paid up on their land or assist to get a buyer. A charge (agency fee) is deducted from purchase/selling/current price in either of the cases. Note that transfer fee is also payable by either of the parties (seller or buyer).

Q30. Will Realty Point Limited assist subscribers in accessing National Housing Fund (NHF) loan?
Yes, Realty Point Limited has Mortgage Institutions that are ready to partner with us in providing NHF and other Mortgage loan for subscribers.

Q31: What is the sequence of event in this transaction?

  • Payment for land
  • Payment for Documentation
  • Letter acknowledging full payment for land and reserving the equivalent of plot(s) paid for within the concerned estate.
  • Survey & Development Levy Deposit.
  • Development Levy Balance or at least commencement of payment and agreed plan for subsequent payment till completion.
  • Allocation by letter
  • Physical allocation of construction
  • Final payment of Development Levy
  • Signing of the Deed of Assignment.

Q32: Can I pay cash to your Agent?
While we are not discrediting anybody, we strongly advise that cash should be paid to REALTY POINT LIMITED designated bank accounts. Also, PRIME EXCHANGE LTD designated Bank Account can receive funds being the Authorized marketing organization. Otherwise, cheques should be issued in favor of REALTY POINT LIMITED only. Please note that the management of REALTY POINT LIMITED/ PRIME EXCHANGE accepts no responsibility for any liability that may arise as a result of deviation from the above instruction

Q33: Can there be changes and/or amendment to this offering as it is presently known?
The real estate industry just like most others is a dynamic industry and as such things get to change from time to time most especially for the better. However any change, amendment or modification shall be communicated and endorsed by REALTY POINT LIMITED. Such communication shall be via letters, electronic mails, fax, short message service (SMS), handbill, posters and any other means of communication. This correspondence shall be deemed to have been received by the CLIENT having been sent by REALTY POINT LIMITED.

N. B: Please note the following among all others as may be communicated from time to time:

Development Levy Balance

  • Development levy deposit is N400,000
  • Balance of Development levy is N248,000 spread over 6 months (subject to review, according to market dictates). The balance should be paid within 6months via a Bank standing order instruction.
  • It comes to N648,000 for a 648sqm plot @1,000 per sqm
  • Electricity Connection Fee – N50,000

Service & Maintenance charges

  • This is for the continuous management of the estate(Service & maintenance) allottes and/or residents
  • Allottees that resides in the Estate N40,000 annually
  • Allottees with an on-going construction on site N30,000 annually
  • Allottees with no construction yet on site N20,000 annually
  • Investors N12,000 annually (i.e. N1,000 per month as plot maintenance fee)
  • Kindly note that all these payments shall be enforced by the Estate Managers and community Development Association/body within the Estate. 


  • Planting of 2 trees in front of your houses within your compound for aesthetics and health reasons
  • Putting 2-3 energy saving lighting points on your frontal fence outside to the road to assist as  streets light and further help illumination within the estate
  • Please let all subscribers ensure the use of the light brown colour roofing sheets on all of their structures for improved esthetics within the estate and to give a good sense of orderliness which always has a way of impacting on property value/worth.



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