A new investment opportunity has been opened for medium income buyers and sundry investors at the second phase of MastaHomes Garden, the developer of the estate has said.
MastaShelter Nigeria Limited, developer of the estate, says the estate which sits on 278 acres of land along Ado-Odo road, off Lagos-Badagry Expressway, Agara, is a follow up to the successful outing of its first phase.
Abass Adeshina Lasisi, MastaShelter’s managing director, says the estate, conceived to cater for diverse class of people, would on completion accommodate residential apartments in different designs and configurations.
According to him, the estate promises terrace and detached houses, recreational centres, shopping malls, resort and leisure as well as a commercial and an industrial layout, adding that Roseberry Estate, Greenlife Estate are the estate’s neighbours just as it is bordered by Agbara and Sango industrial layouts.
On the cost of plots at the estate, Lasisi says the estate has been divided into three residential layout plans including the Mayor, the Duke and the Emperor, explaining that Mayor is expected to house bungalows exclusively and sells for N365,000 per plot outright payment with other flexible instalment payment option.
The Duke, which goes for an outright price of N495,000 per plot, is designed to house duplexes while Emperor, designed for mansions, sells for N760,000 per plot for outright payment,
On the commercial layout plan, he says the business class which measures 1,400 square metres sells for N1.5 million on outright payment, explaining that it is designed to house religious centres, schools and shopping centres.
“The estate also has an industrial layout plan designed for smart and visionary entrepreneurs longing to explore immediate benefit of abundant raw materials in the region, as the small scale and Large scale plots in this layout are selling for N1.5 million and N4 million respectively,” he says.
“After a value forecast and in comparison with the first phase of the estate which has been sold out, after the first 12 months, land prices are expected to make about 20 percent return on its value; about 25 percent increase after the second year, and by the fifth year, we may be looking at over 100 percent return on investment.
Lasisi discloses that the company would be building its own housing units as it is currently doing at its first phase with the aim of providing affordable houses for its clients.
ODINAKA MBONU
