Q1. WHERE IS PEARL CITY estate located?
PEARL CITY is situate at Ogbeke-Nike, Opposite Ministry of Lands & Housing Estate (Rehobot Estate), less than 3 mins from Digital Bridge Institute, less than 5 mins from Elim Estate, Enugu State.
Q2. WHO ARE THE OWNERS/DEVELOPERS OF PEARL CITY?
A. PWAN-PRIME INVESTMENTS AND PROPERTIES LTD., a multi-award winning and leading Real Estate Company in Nigeria.
Q3. WHAT TYPE OF TITLE DOES PEARL CITY HAVE ON THE LAND?
A. Certificate of Occupancy.
Q4. ARE THERE ANY ENCUMBRANCES ON THE LAND?
A. The land is free from every known government acquisition or interest and adverse claims.
Q5. WHAT PLOT SIZE(S) IS AVAILABLE? 500sqm, 530sqm, 540sqm, 600sqm, 700sqm, 800sqm, and 900sqm.
Q6. WHAT IS THE PAYMENT STRUCTURE FOR THE PLOT SIZES?
SQM STARTER PLOT 500 SQM: 4,200,000.00 - ACTUAL PRICE | 4,620,000.00 - INSTALLMENT (0-6 MONTHS) | 5,250,000.00 - INSTALLMENT (0-12 MONTHS)
STANDARD PLOT 530 SQM: 4,500,000.00 - ACTUAL PRICE | 4,950,000.00 - INSTALLMENT (0-6 MONTHS) | 5,625,000.00 - INSTALLMENT (0-12 MONTHS)
STANDARD PLUS PLOT 540: 4,600,000.00 - ACTUAL PRICE | 5,060,000.00 - INSTALLMENT (0-6 MONTHS) | 5,750,000.00 - INSTALLMENT (0-12 MONTHS)
SQM STANDARD MAJOR PLOT 600: 5,000,000.00 - ACTUAL PRICE | 5,500,000.00 - INSTALLMENT (0-6 MONTHS) | 6,250,000.00 - INSTALLMENT (0-12 MONTHS)
HIGH DENSITY PLOT 700 SQM: 5,700,000.00 - ACTUAL PRICE | 6,270,000.00 - INSTALLMENT (0-6 MONTHS) | 7,125,000.00 - INSTALLMENT (0-12 MONTHS)
HIGH DENSITY PLUS PLOT 800 SQM: 6,500,000.00 - ACTUAL PRICE | 7,150,000.00 - INSTALLMENT (0-6 MONTHS) | 8,125,000.00 - INSTALLMENT (0-12 MONTHS)
SQM HIGH DENSITY MAJOR PLOT 900 SQM: 7,500,000.00 - ACTUAL PRICE | 8,250,000.00 - INSTALLMENT (0-6 MONTHS) | 9,375,000.00 - INSTALLMENT (0-12 MONTHS)
INITIAL DEPOSIT OF 30% IS REQUIRED FOR THE INSTALLMENT PAYMENT PLAN OPTION.
(b) Corner piece and commercial plots attract additional 10% of land cost.
Non-payment of the monthly installments as at when due and non-compliance with the payment structure shall be treated as a fundamental breach of the contract which will result in termination or revocation of the contract/OR attract default charge of 5% of the month payment or 5% of the total balance upon demand, OR 5% of the outstanding payment for every month of default after payment expiration.
Q7. IS THE ROAD TO THE ESTATE MOTORABLE?
A. Yes the road to the estate is motorable.
Q8. WHAT OTHER PAYMENTS DO I MAKE WITH/AFTER THE PAYMENT FOR THE LAND?
(a) Deed of Assignment: N200,000 (per plot)
(b) Registered Survey Plan Fee: N150,000 (per plot)
(c) Plot Demarcation: N50,000 (per plot)
(d) Development Fee:
SQM 500 SQM 530 SQM 540 SQM 600 SQM 700 SQM 800 SQM 900 SQM
N N N N N N N
DEVT. FEE 1,385,000 1,460,000 1,485,000 1,635,000 1,885,000 2,135,000 2,385,000
INSTALLMENT (0-3 MONTHS) 1,454,250 1,533,000 1,559,250 1,716,750 1,979,250 2,241,750 2,504,250
Development fee covers the following: (1) Estate Perimeter Fencing (2) Estate Gate House. (3)Electricity and Beautification of the Estate. NB: Development fees unpaid within 12 months of allocation will attract 2.5% monthly appreciation value.
Also note the cost of internal road construction and drainage construction shall be advised at a later date. All of the above fees are subject to review.
Q9. WHEN DO I GET MY ALLOCATION DOCUMENT AFTER PAYMENT?
Allocation Document would be issued within three (3) months after payment and physical allocation to be done during the annual dry season in order of subscription provided that at least 25% of development fees have been paid.
Q10. WHEN DO I MAKE THE OTHER PAYMENTS?
(I) Survey Plan, Deed of Assignment and Plot Demarcation should be paid before Physical Allocation. However, your Survey Plan and Deed of Assignment will not be prepared until we see development on your plot (Please note that the fencing of your plot is also recognized as part of development).
(ii) Development fees should be paid either on installment (over a 3 months period) or outright basis before or after physical allocation.
Q11. WHAT DO I GET AFTER THE INITIAL DEPOSIT?
A. Letter of acknowledgement of subscription and receipt of payment.
Q12. WHAT DO I GET AFTER COMPLETING PAYMENT FOR THE LAND?
(a) Completion Payment Receipt, Notification Letter, Contract of Sales and Plot Allocation Document.
(b) Deed of Assignment & Survey Plan within three (3) months of payment for Q8 (a) & (b) if allocation has been done.
Q13. CAN I START CONSTRUCTION OR BUILDING ON THE LAND NOW?
A.You can start building on the land after Physical Allocation and payment of development fee has been made. Fencing & Gatehouse to be constructed within the first year of introducing the estate and other infrastructure will commence from the 2nd year with regard to the general level of development in the area.
B.You are also expected to commence development on your plot within 6 months after Physical Allocation (Please note that the fencing of your plot is also recognized as part of development). Please contact the office for guideline on the fencing.
Q14. IS THERE ANY TIME LIMIT TO COMMENCE WORK ON MY LAND AFTER ALLOCATION?
Q15. IS THERE ANY RESTRICTION REGARDING THE TYPE OF BUILDING I CAN CONSTRUCT IN THE ESTATE?
A. 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, apartment buildings, detached houses (duplex). Note “Face-me-I –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 ESG afterwards (please contact the office for building plans).
Q16. CAN I RE-SELL MY PLOT/PROPERTY?
A. Yes, a subscriber who has paid in full for his land can re-sell his plot(s). In that event, PWAN-PRIME INVESTMENTS AND PROPERTIES LTD. would require you (the seller) to furnish the company with details of the new buyer. PWAN-PRIME can help with the process of re-sell when we have available buyers; please note that a 15% commission will be paid to PWAN-PRIME.
B. 10% of the land consideration paid by you will be payable by the new buyer directly or through you for Transfer of Title Documentation.
Q17. CAN I PAY CASH TO YOUR AGENT?
A. We strongly advise that cash payments should only be made to PWAN-PRIME INVESTMENTS AND PROPERTIES LTD. at its designated Banks. Otherwise, cheque(s)/bank drafts should be issued in favor of PWAN-PRIME INVESTMENTS AND PROPERTIES LTD. We shall not accept any responsibility for any liability that may arise because of a deviation from the above instruction.
Q18 WHAT HAPPENS IF I CANNOT CONTINUE WITH THE PAYMENT OR AFTER PAYMENT BUT BEFORE ALLOCATION? CAN I GET A REFUND?
A.Yes, you can apply for refund only if you have not been allocated your plot(s). However, refund can only be requested for within 60 days of Purchase and the refund policy will apply as stated in Q18(b) below.
B.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% (Administrative, Logistics & Agency Fees).
C.You cannot request for refund once allocation has been done.