PROPERTY NEWS

L AGOS-based real estate development outfit, Messrs. Vetra Ventures Limited (VVL), has commenced the marketing of its "Crystal Park Estate Phase 2" located off the Papalanto Expressway by Lasoju Village, Ofada in Ogun State.

This follows the sale of its Phase 1 scheme on the Papalanto Road, where it has also commenced construction work.

Head, Accounts and Administration of the company, Mr. Akin Oloyede, said that plans were under way to commence allocation of plots to the subscribers that had paid fully for their land within the Phase 1 scheme.

"The Phase 2 sales is also being offered at a discount to encourage the people that missed out on Phase 1 which is now being sold at N750, 000 because of the progress made both in the area of development and title regularisation," Oloyede stressed.

"Crystal Park Estate was introduced into the market in August 2008, when a plot of land sold for a promo price of N450, 000. The price has since jumped to N750, 000, representing some 60 per cent increase. Vetra Ventures Limited is offering installmental payment at the estate, where a beneficiary will pay N41, 000 monthly over 18 months.