Approximately 500 square metres per plot (100 ft by 50ft), except otherwise stated.
Igbeyinadun Layout Schemes are Land-Banking Plot Sub-division developments by REALTY POINT LIMITED (RPL). They are projects conceptualised to enable subscribers bank their money on land so as to better store/preserve the value of money over a long term. Subscribers to these schemes will be living the age old sayings that “the best investment on Earth is Earth” and “you do not wait to buy land, you buy land and wait”. The fact that land has been identified as one of the best stores of value. We believe what the former USA President; Franklin D Roosevelt said, “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” And Igbeyinadun Layout Schemes are our own way of making this possible for middle and low income earners. 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 Real Estate Investment Aggregation since 2005. FAQs of Igbeyinadun Layout Scheme, Ofada – Kobape
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), WhatsApp chat/Voice notes, 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. Thank you.
Always ensure that at the bank you indicate your name as we have it in our records as the depositor even if/when you send someone else to the bank. This will help our internal accounting process. One more very important thing please; Also, we expect that you will send in your payment details through your Agent or to our Customer Service WhatsApp number +2348059899724.
While we are not discrediting anybody, we strongly advise that cash should be paid to REALTY POINT LIMITED designated bank accounts. Otherwise, cheques should be issued in favour of REALTY POINT LIMITED only. The management of REALTY POINT LIMITED accepts no responsibility for any liability that may arise as a result of deviation from the above instruction.
i)Payment of land ii)Payment for family receipt, Job card & all other customary fees iii) Congratulatory letter and provisional allocation of land iv)Payment for registered survey and Deed of Assignment v) Physical allocation of land vi) Payment for the processing of Certificate of Occupancy(optional) All CDA payment shall be as decided by the CDA
We recognize that buyers may need to sell their purchase for varying reasons. However, due to the administrative and legal issues required in the proper transfer of these purchases, we would only honour transfers once full payment for land (plot) has been made and/or plot has been allocated and possessed earlier by the intending seller. Both intending seller and buyer have to complete our Property Unit Transfer Form after which necessary documentation shall be issued to the new owner (intending buyer). Plot ownership verification, an exercise which should take place in writing and in our office by the new buyer if he so desires with the consent of the intending seller attracts a fee. A non-refundable Transfer Fee (reviewable from time to time) per unit is payable before the Property Transfer Form can be treated.
Yes. The Layout Scheme is designed such that allotees have to take possession of their plots within not more than 3months of the allocation, otherwise, unpossessed lands after 3months of allocation stand revoked and shall be re-allocated. RPL does not plan to remain on the Layout Scheme as the Administrator beyond the initial intension. Possession for this purpose is defined as at least an 8” – 9” coaches of sandcrete block perimeter fence and gate or commencement of your building construction work. To therefore aid development and maintain healthy value appreciation, allocated subscribers are encouraged to start construction immediately. They can start the fence work around the perimeter of their property or the foundation work of the main construction. RPL and other company in our group shall be there to give every support and encouragement we can to facilitate speedy development of the estate.
After the payment of the initial deposit, you are expected to continue to make your monthly payments. Non-payment monthly as at when due will be treated as fundamental breach of contract which MAY result in the 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. To prevent this from happening however, the Developer expects you to initiate a standing order instruction with your Bankers to credit her account with the appropriate sum monthly throughout the tenure of the transaction.
Any payment default puts you at the risk of revocation from this layout Scheme subscription and re-allocation to any other available Layout Scheme considered at par at the instance of the Developer or refund of what you have paid less appropriate charges. 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 40% administrative charge in the least. This is because the project is patterned after joint ventures. Kindly note also that these charges are subject to review.
Yes, RPL is very willing and positioned to construct for clients. We would be your preferred construction contractor because the fact that we are on ground and shall be handling multiple units give us great economy of scale, making our pricing difficult to beat by any external/outside builder without compromising quality. We can handle the whole building process from architectural design, bill of quantity, building approval processing to actual construction for any client. Also, RPL is your best source for quality building materials for your construction activities.
Yes, you are in fact required to take physical possession of your land within 3months of allocation by way of at least erecting a perimeter fence of not less than 9coaches of 6”/9” sandcrete block and putting a Gate failing which the land can be reallocated to a more ready subscriber and you will be re-allocated when ready and we still have plot(s) to be allocated in the scheme or you are relocated plot at another scheme at the company’s discretion or refunded your payment less administrative charges. Note that re-allocation may attract extra charges.
Paper Allocation and thereafter site physical allocation will be done immediately all the payments in Q12 i – iii are made. Physical allocation will be done in batches; subscribers will be notified. However, note that possession and occupation of the plot(s) shall be deemed to have commenced from the date fixed for handover and all risks and benefits in respect of the property shall pass to the purchaser.
Other payments to be made before a subscriber can be allocated are; Legal Documentation Fee Survey Fee Family receipt fee, Job Card and all other Customary fees CDA Development/infrastructure fee as may be decided by the CDA Kindly note that the fees stated above shall be as fixed from time to time.
The developer is not charging subscribers for Development Levy. The CDA will do that at the appropriate time and communicate to subscribers and allottees as required from time to time. The developer shall be available to offer guidance when and if required. Note however that all customary fees (e.g Family receipt, Job Card & security, foundation, decking and roofing fees) payable on land shall be payable in this case. Payments shall be coordinated by RPL and her agents on the site and there shall be no nexus with Omo Onile to prevent any Omo Onile wahala for subscribers and allottees.
The founding members shall be the first 5 allotees in the Layout Scheme who take possession of their land within required timeframe and discharge their responsibilities within the layout Scheme and to the Developer without drag, delay or discord. The CDA shall be constituted in a meeting to be called by the Developer once there are up to five(5) alloteess. Deleibration at that inaugural meeting and subsequent meeting of the CDA as spelt out in the CDA’s constitution shall be binding on all allottee/plot owners within the layout Scheme.
CDA is a voluntary long-term standing body set up to assist in the upkeep and development of the Layout Scheme. Every Buyer/Allottee/Resident within the Layout Scheme by buying into and/or accepting allocation of plot(s) or residing within the Layout Scheme hereby agrees to be a member of the CDA, a membership that cannot be separated from the purchase/ownership of plot(s) and/or residence in the Layout Scheme.