The Master Golden Estate in Ofada is being undertaken by Sim Properties & Homes Limited in association with Sim Trustfund Investment Limited on one hand and Abbey Building Society Limited on the other.

The estate is located at Ofada (Mowe) approximately kilometer 45 on the Lagos – Ibadan Expressway. It is about 25 minutes drive from what used to be Lagos toll-gate, ten minutes drive from the Lagos – Ibadan expressway and it is just before Rosebud Garden, Yotomi Estate and Royal Life Estate.

It is a mixed package comprising options of serviced land and built land. There are two variants to the buy land and develop yourself option. Under the first variant which has its price pegged at N400, 000 a person is required to pay an initial deposit of N100,000, pay the balance in various instalments within five months. Under the second variant, the prospect is required to accept to pay a price pegged at N450,000, has to pay an initial deposit of N50,000 the balance payable in various instalments within 5 months. A quarter plot which will cost the home owner N115,000, plot which will cause a dent in the purse of the homeowner to the tune of N215,000.00.

It is now in the third phase. The work started in December 2008 and it is projected for a period of three months. A total of 100 housing units have been proposed for this phase. It offers a mixed portfolio of development options. A prospective home owner can buy plot and develop it himself/herself or buy a fully developed house at a good price.

Attached to the offers are incentives that include free building plan and architectural design. There is also an offer of mortgage facility. A prospect can obtain a maximum of N5million mortgage facility from the National Housing fund (NHF) to build a house. No collateral is required and repayment is extended over a period of 25years with interest at 6 percent. The cooperatives of organizations are the main target of this attractive offer.

Under the land with building option, there are offers of 3 variants consisting of 3 – bedroom detached bungalow and the 2 – bedroom semi – detached bungalow and the 4 – bedroom proto detached house type. The 3 – bedroom detached bungalow has a price tag of N4.5million while the 2 – bedroom semi bungalow has the price tag of N2.8million. The typical characteristics include moderate size lounge, step- up dinning, spacious master bedroom ensuite and concrete paved environment.

Another generous side to the Master Golden Estate building offers is that the buyer is given key with just 40 percent down payment made. However, letter of allocation, deed of assignment/conveyance, global registered certificate of occupancy and other vital documents will only be given upon full payment.
Sim Properties & Homes Limited will manage the totality of the MG Estate for the benefit and enjoyment of would – be landlords until a cooperative society of resident Landlord Association is set – up for the running of the MG Estate. The managing director/chief executive officer of the company says that “MG estate is packaged to accommodate every need and dream”.

It is an easily affordable real estate deal which has been carefully tailored to meet the housing needs of low income earners in Ogun State and its environs including those living in metropolitan Lagos. Interestingly, no collateral is required to secure a mortgage facility and full payment is not a necessary condition to be put into possession of the houses.

Among the infrastructure to be provided for the modest estate is electricity and water supply from central borehole. There is perimeter fencing for the estate and a network of earth roads. Sim Properties & Homes Limited, an estate development outfit and project engineers with over fifteen years experience and core competence in site and services, planning and building, regards its services as “equal to none”