INTRODUCING BAY-PAY (Build-As-You-Pay)
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Contemporary city life of a modern day Nigerian urban dweller can be likened to bird daily movement activities. ‘The NEST’ is conceived as a resting safe haven after the day’s stress. ... Read more
FAQ: The Nest
Q
WHO IS THE DEVELOPER OF THE NEST, MOWE?
A
SSA Realities Limited. Full Address is on the flyer.
Q
WHERE IS THE NEST?
A
Mowe area of the Lagos-Ibadan Expressway, beside Paradise City.
3 Minutes Drive from the Redemption Camp.
Q
WHAT ARE THE LANDMARK DEVELOPMENTS WITHIN 2KM RADIUS OF THE NEST?
A
Paradise City, St Georges Park, Mainland Park, Redemption Camp, Redeemers University, Assemblies of God Youth Camp, C.P.M Camp Ground, Wisdom Landlord Estate, Evermore Estate,Beaufort Royale Estate.
Q
WHAT IS THE PRICE PER PLOT?
A
The price is N800, 000 for Residential and N1, 500, 000 for Commercial Plot.
Q
WHAT IS THE SIZE PER PLOT?
A
60 ft x 120 ft, 648 square meters or 18meters by 36meters.
Q
WHAT HAPPENS IF THE PLOT ALLOCATED TO ME IS BIGGER OR SMALLER?
A
The equivalent shortfall as measured in area will be deducted from the total cost and refunded. The reverse will be the case if allocation is discovered to be more than 648sqm.
Q
IS THERE ANY ENCUMBERANCE ON THE LAND?
A
The land is free from every known Government acquisition and No adverse claimant.
Q
WHAT TYPE OF INFRASTRUCTURE WILL THE DEVELOPER PROVIDE?
A
Perimeter fencing, earth road, transformer and connection to the national grid and bore-hole water supply.
Q
WHAT INFRASTRUCTURE WILL NOT BE PROVIDED BY THE DEVELOPER?
A
Electrification of individual houses (poles and stringing), connection to water mains, drainage and tarred/paved road.
Q
WHAT OTHER PAYMENTS WILL I BE REQUIRED TO MAKE APART FROM THE COST OF THE LAND?
A
Survey fee – As per prevailing Government rate & legal documentation fee N20, 000.
Development Levy – 20% of Land Cost.
Q
WHAT IS THE DEVELOPMENT LEVY FOR?
A
Provision of drainage and paving major roads.
Q
WHEN DO I PAY DEVELOPMENT LEVY?
A
Before construction of houses and can be paid in instalments.
Q
WHAT DO I GET AFTER COMPLETION OF PAYMENT FOR THE LAND?
A
Letter of Allocation, Receipt, estate covenants, survey plans and Deed of Sublease.
Q
WHAT TYPE OF TITLE DOES THE DEVELOPER HAVE ON THE LAND?
A
Irrevocable Power of attorney donated by the customary owners.
Q
DOES THE NEST HAVE A CERTIFICATE OF OCCUPANCY (C of O)?
A
The nest has C of O already.
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 20% administrative expenses.
Q
CAN I PAY A DEPOSIT AND PAY THE BALANCE ANY TIME WITHIN THE PAYMENT DURATION CHOSEN FOR E.G 1 YEAR?
A
After the payment of the initial deposit, you are required to pay the balance monthly. Non payment monthly as at when due will be treated as a fundamental breach of contract which can result in termination or revocation of contract.
Q
DOES THE NEST CHARGE INTEREST ON THE BALANCE OF PAYMENT?
A
The transaction is interest free.
Q
CAN I START BUILDING CONSTRUCTION ON THE LAND NOW?
A
Once the payment is completed you can start building on the land right-away.
Q
Is there any restriction to the type of building I can build?
A
You are expected to build residential houses in the area designated for residential and commercial structures in designated areas only. Provision of shops in residential houses is prohibited.
Q
CAN I BUILD MYSELF WITH MY SPECIFICATION?
A
Yes, but after the plan has been appropriately checked by SSA Realties in accordance with estate guidelines .This is for effective development control.
Q
WHO WILL BE RESPONSIBLE FOR BUILDING PLAN APPROVAL COST?
A
Individuals will be responsible for the cost of building plan approval though SSA Realties can help with the approval logistics at no extra cost.
Q
IF I PAY OUTRIGHTLY, DO I GET A DISCOUNT?
A
Yes, up to 5%.
Q
IS THERE GOING TO A BE CENTRAL BORE-HOLE?
A
Yes.
Q
WILL EACH HOUSE HAVE ACCESS TO WATER?
A
Connection to water mains is at a fee and serviced monthly.
Q
IS ELECTRICITY GOING TO BE CONSTANT?
A
No, we are not providing electricity backup like Generator for the estate only if the Estate Association unanimously want to pay for it while we manage it.
Q
IS THE ROAD TO THE ESTATE GOOD AND MOTOR-ABLE?
A
Yes, the road to the estate is motor-able and accessible.
Q
IS THERE ANY TIME LIMIT TO COMMENCE WORK ON MY LAND AFTER ALLOCATION?
A
Yes, the time limit is 18 months by which you will be required to commence work immediately. The land must not be left unkempt and allowed to be overgrown with weeds. If this happens, the developer will enter the land, clear it and keep it tidy and the expenses incurred transferred to you. Otherwise you reserve the right to sell out rightly at the prevailing market price or SSA Realties buys it back from you.
Q
IS THE ESTATE TO BE MANAGED BY SSA REALTIES?
A
Yes, it will be managed by SSA Realties Limited.
Q
HOW WILL PAYMENTS BE MADE?
A
Payments will be made into the company’s account with a host of banks: First Bank, Skye Bank, UBA, Intercontinental Bank, Access Bank, GT Bank, Zenith Bank, Diamond Bank and other banks as you will be furnished from time to time. Details can be requested from the office.
Q
INSTALLMENTAL PAYMENT FOR HOUSING, HOW IS IT DONE? IS IT GOING TO BE A MORTGAGE?
A
Option 1: self finance Option 2: Mortgage.
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