LAGOS-OGUN PROPERTY MARKET EXPANDS BEYOND SAGAMU AXIS *New estate development emerge in Iperu-Remo
The much talked about Lagos-Ibadan expressway part of the Lagos-Ogun Property Market, which includes areas like Isheri-North, Arepo, Magboro, Ibafo, Mowe-Ofada and Shimawa is still gathering huge momentum. Recent developments in the area has shown that the market has now expanded beyond the Sagamu axis.
A new estate known as His Grace Estate has now been officially unveiled in Iperu-Remo, Ogun State. The estate which comes in two phases, has phase one located along Iperu-Ilisan Road and its ase two located along Iperu-Ibadan road, about 35minutes and 45 minutes’ drive to Ibadan and Lagos respectively. His Grace Estate Phase 1 as it is called is now selling off plan and is comprised of: 9units of 1bedroom flats on 60sqm at N5million (shell form) and N6million (complete finish) with an initial deposit of N2.4million.
Other offers in the Phase 1 are: 4units of 2bedroom flats on 80sqm of land at N7million (shell form) and N8.5million (complete finish) and an initial deposit of N3.4million. 4 units of 2bedroom duplex with 1room bq on 240sqm at N12.5million (shell form) and N15million (complete finish) with an initial deposit of N6million as well as another 8units of 3bedroom duplex with 1 room bq on a plot measuring approximately 255sqm at N13.7million (shell form) and N16.5million (complete finish) with an initial deposit of N6.6million.
His Grace Estate Phase 2 which comes with bigger type of houses has: 2units of 2bedroom house with bq on 127sqm of land at N12.85million (shell form) and N15.5million (complete finish) with an initial deposit of N6.5million. 3units of 3bedroom house with 1 room bq on a plot of land measuring approximately 153sqm at N14.2million (shell form) and N17million (complete finish) with an initial deposit of N6.8million. Lastly, the phase 2 has 18units of 3bedroom duplexes with 1 room bq on approximately 209sqm of land at N15.4million (shell form) and N18.5million (complete finish) with an initial deposit of NN7.5million. To make the purchase of houses in the estates seamless for willing subscribers, developers of the estate explained that they are in talks with a mortgage bank to finance any qualified investor at friendly interest rates payable over a reasonable period of time depending on the age and income of the applicant.
Both estates are planned to have some of the best and upscale facilities. They include: CCTV and alarm systems, paved road with covered drains, central water system, nursery and primary school, automatic access control at entrance gate, electric shock perimeter wired fence, estate multipurpose hall and street lights. The prospects for investing in an estate in a location like Iperu-Remo is premised on the fact that more than ever before the Federal Government has shown willingness and deep commitment to completing the expansion work on the Lagos-Ibadan expressway which so far has made transport time from Lagos reduced significantly and now almost stress free. It is believed that at the final completion of the expressway, journey from Lagos to areas like Iperu-Remo will only get better. It is also important to note that Iperu-Remo is one of the fastest developing communities within Ogun State with excellent facilities for serene, peaceful and quiet living. The Babcock University is also located within the axis and the influx of new settlers into the areas over the last decade according to our findings have been quite massive and impressive.