FAQ Galaxy Gardens,ibeju-lekki project

· Provide brief background of Cornell Realtors Ltd and location of Galaxy Gardens Ibeju-Lekki project and including status of current management of the estate?

ØCornell Realtors Limited is a company limited by shares and incorporated in Nigeria since 2010 under the companies and allied matter to carry out Integrated Real Estate services.

Ø Lagos Office:29,olonode street,off alagomeji busstop,yaba,lagos
07069055647,08097026097
cornellrealtors@gmail.com
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Ø Galaxy Gardens Ibeju-Lekki project is strategically and beautifully located in the Ibeju-Lekki axis of Lekki Peninsular and just 5.5 KM from Lekki Free Trade Zone (LFTZ), Lekki Deep Sea port, Lekki Industrial Area and in general proximity to Pan African University (Lagos business school new site) and the new international airport.

Ø Galaxy Gardens project is situated on the prime Coastal Road linking the LFTZ to Leko JNC/ Eko Atlantic/Victoria Island

Ø The Galaxy Gardens project is designed as a Low density residential gated service estate (strictly bungalow, duplex and not more than 2 floors block of flats: no high rise building) which is being manage by Cornell Realtors Ltd for strict compliance to designe

· How does your service plots differ from the normal plots system.
Ø Galaxy Gardens project are fully integrated service plot option in that unlike the normal plot system, Cornell Realtors Limited would provide in addition integrated estate infrastructures.
These include: Pave Access Roads & street networks and Storm Water Drains, Power Distribution Network to plots (individual would only need to tap connection into their properties) and Street Lightings, Landscape green areas and parks, Recreation Amenities, School, Clinic and 24 Hours Security Monitoring plus CCTV & Police Station.

· How much will participant be paying for the plot,development (service plot infrastructures) fee and mode of payment?
Ø The service plot infrastructures cost N1.5M which is payable over 12months after a mandatory 30% downpayment.development levy is N500k only per plot and four times payment spreadout per quarter.

· Any penalty if someone refuses to pay the development fee later?
Ø After several notifications and at most one year in default, plot allocation will be revoked.

· What ‘Tittle’ does the place have
Galaxy Gardens is fully covered by an excision executive order of Lagos State Government domicile at the Lagos State Lands Registry Office, Alausa, Ikeja, Lagos in favour of LEPIYA COMMUNITY. ‘Tittle Deed of Conveyance’ from LEPIYA COMMUNITY in favour of Cornell Realtors Ltd. All participants would be given a copy of the Gazette as attachment to her ‘Tittle deed of Assignment’. All participants would also be issued with duly signed Lagos State Government FORM 1C as attachment to her ‘Tittle deed of Assignment’ (for participants that desires individual ‘Governors consent’).

· What is the detail process of issuing title of land to a buyer after payment? And how long will it take to receive the land title document after payment?

Ø Every aspect on the documentation is put together by Cornell Realtors ltd and would be ready before the expiration of the spreadout payment timeline (Dec 2015) and given to beneficiaries on payment of last installment.
ØDocument cost of N100k and Survey fee of N150 (or as applicable then) per document would be paid on document collection.

· How is site visitation arranged?
Ø Site visits to Galaxy Gardens is every Saturday from 10am (muster point: Lagos Business school).

· When one is ready to commence development, who should he/she contact?
Ø Individuals development would commence by 2015 alongside with the general infrastructure. Cornell Realtors site office would be fully functional with field staff that will help you in your start up and as need arises.

· Being a service estate what would constitute the services to be render by Cornell Realtors when estate is fully developed?
Ø The Provisions that Constitute Services in Galaxy Gardens will include: Street Lighting, Water and Water treatment, Road/Drainage Maintenance, Cleaning of commons and Landscape green areas/parks, Refuse Collection, Sewage Disposal, Security.

· Will Cornell Realtors automatically become managers of participants buildings in the estates?
Ø Participant would have the liberty to choose their real estate managers to manage their properties in the estate.

· Any other information, we should know?
ØThe Ibeju Lekki Free trade zone-new international airport- Lekki industrial area and tourist Hub is a fast developing area that the residential needs in the near future will dwarf the residential need of present day Lagos/Victoria Island (a dominantly blue chip coys hub).

ØReturns on your investment in the Lekki Peninsular area is rated one of the best in the world for now.

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