By Eguasa Godspower
The Edo State Government has announced the approved payment plans for acquiring properties in the real estate development project called the Emotan Gardens Phase 2 .
According to Edo State Property Development Agency, EDPA, the payment plan is exclusive of the survey and service charge fees.
After successfully selling out phase one of the project, this phase offers 2-bedroom semi-detached bungalows for N12, 925, 000, 3-bedroom semi-detached bungalows for N15, 275, 000, and 3-bedroom fully-detached bungalows for N17, 625, 000, all amounts inclusive of the statutory 5 percent legal fee, 5 percent agency fee, and 7.5 percent Value Added Tax.
Subscribers have the opportunity to make payments in installments, spread over a maximum period of 6 months.
An initial deposit of 3, 000, 000 is required across all categories of properties, with five payments of 20 percent of the total fee spread over a 6-month period.
This means that subscribers purchasing 2bedroom semi-detached bungalows will pay the initial 3, 000, 000, followed by five monthly payments of 1,985,000, while subscribers buying the 3 bedroom semi-detached bungalows will follow their initial 3,000, 000 payment with five monthly payments of 2,455,000.
Similarly, those buying the 3-bedroom fully-detached bungalows will pay the initial 3, 000, 000 followed by five monthly payments of 2,925,000.
The Emotan Gardens project is a brainchild of Governor Godwin Obaseki who has frequently committed to providing the enabling environment for Edo residents to acquire homes in an affordable and respectable manner.
The first phase of the Emotan Gardens sold out 68 2-bedroom housing units and this second phase boasts 52 units of 2-bedroom semi-detached bungalows, 64 units of 3-bedroom semi-detached bungalows and 31 units of 3-bedroom fully-detached bungalows, bringing the total number of housing units in the phase to 147.
