Houses For Sale In Ibeju Lekki: Gracias Residences

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Introduction

Among the available houses for sale in Ibeju Lekki, my team and I took a special interest in Gracias Residences for 2 main reasons:

  1. Gracias Residences is very affordable. When we compared Gracias Residences to Amen Estate Phase 2, Gracias stood out in terms of price. Although they share the same landmarks, the cost of 2 units of 2 bedroom flats in Gracias Residences is less than that of 1 plot of land in Amen Estate Phase 2. That’s one of the best real estate deals presently in town.

By implication, if you buy 2 units of 2 bedrooms flat from Gracias Residences, that will sum up to just N17,000,000. That amount is less than the cost of 1 plot of land in Amen Estate Phase 2.

If you put the high cost of building materials, labour, and other miscellaneous expenses in the country into consideration, you will realize that Gracias Residences is a good buy.

  1. The cost of renting a similar apartment at Ibeju Lekki and its environ on average is N1,000,000. So, rent paid for such an apartment for 8 to 9 consecutive years will accumulate to the amount you need to own the property now. Thus, anyone presently considering one of the available houses for sale in Ibeju Lekki will find Gracias Residences a wise decision.

In addition to all these benefits, the developers of the estate made the payment plan very flexible.

See the plan below:

Payment Plan

(i). Outright or 3 Months Payment 

One Bedroom Flat – 7,500,000 Naira

Two Bedroom Flat – 8,500,000 Naira

(ii). 6 Months Payment Plan

One Bedroom Flat – 7,750,000 Naira

Two Bedroom Flat – 8,750,000 Naira

(iii). 12 Months Payment Plan

One Bedroom Flat – 8,000,000 Naira

Two Bedroom Flat – 9,000,000 Naira

Interested buyers can pay a minimum of 20% initial deposit and balance off with their monthly installments as agreed between them and the developer.

You will be given a receipt of payment, invoice, and a contract of sale when you pay 20% initial deposit. The house will also be allocated to you when 75% of the money has been paid.

It is important to note that the flat will be delivered with all externals finished: walls plastered, all windows and main external doors fixed, external painting done, electrical and plumbing piping done and upper floor ceiling done.

Hence, the internal fittings will be left to the client to fix to his/her taste. In case you want the developer to do the internal fittings, that will require additional cost depending on the quality of materials chosen by the client. There are 3 categories of quality you can choose from A, B, and C.

Gracias Residences has admirable estate features comprising of accessible roads, perimeter fencing, drinkable water connection, street light, and CCTV camera. It also has a drainage system, sanitary sewer system, and 24 hours electricity by solar and inverter.

Another benefit of buying from this estate is, it shares the neighborhood with Gracias Commercial Estate, Rehoboth Estate, Dangote Refinery Complex, Power Oil Industry, and Kellogg International Ltd.

Other developments located there are Lekki Deep Sea Port, Lekki Free Trade Zone, LaCampaigne Tropicana Resort, several private beaches, and several upcoming estates will make anyone who invests in Gracias Residences enjoy supernormal capital gain on their investment.

Additional Information

Location of the estate

Gracias Residences is at Moonstone, Okunraiye Town, Ibeju Lekki, Lagos Nigeria.

Title

The title of the estate is Certificate of Occupancy

VAT

The buyer will have to pay 5% of the total cost of the house for Value Added Tax.

Legal Documentation

The buyer will have to pay 5% of the total cost of the house for deed of assignment.

Development levy

The development fee is N2,000,000 (You can pay it in several installments).

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Donald Karo

Most Experienced Property Consultant/Agent In Nigeria

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