Frequently Asked Questions
You can modify the interior of your homes subject to approval from the developer.
Homes are “solar power ready” – this means that the infrastructure to install solar power have been provided. These include a batter / inverter room, heat extractors where necessary, conduit pipes to the roof, interface to home power etc. However, a homeowner will need to procure and install solar equipment.
Infrastructure (roads, drainage, power, and water) is communal and cannot be constructed independently for each block. Instead, it will be developed in phases according to the buildings scheduled for handover. The first phase of infrastructure will include the first 8 buildings in the project.
For the conveniences of all homeowners, all homes will be fully finished. This will minimize noise and other associated and construction annoyances for residents.
Cocoon Atlantic will be a gated estate and will enjoy a secured perimeter, access control and 24-hour estate security services.
Homes are allocated upon payment of 40% of the purchase price
There will be a service charge payable for the security, maintenance of public infrastructure and facilities. This cost will be competitive and established when a Facility Manager is appointed.
Legal documentation costs and survey costs are payable at hand-over.
The Ajayi Apata Estate, within which Cocoon Atlantic is located, is a Government Approved layout and is free from government acquisition. Homeowners will get a Deed of Assignment.
Subscribers can only withdraw from the project, if another buyer is taking up their subscription and will be charged an administrative fee of 10% of the property price on exiting the scheme. Please refer to the application form and contract of sale for full terms and conditions.
Subscribers can take full ownership of their homes, for personal use or to rent out on completion of their payments.
Delivery of homes in the first phase of the project will commence in the first half of 2021.
From time to time, Cocoon may offer homes to accept buyers who are seeking funding from the NHF. As a Contributor to the NHF scheme, you will be able to access the NHF mortgage in buying a housing unit in the Cocoon Atlantic Estate. Cocoon will facilitate the process of your application to the FMBN through a Cocoon nominated Primary Mortgage Bank
The NHF scheme is available to Nigerians in all sectors of the economy including those in the informal sector of the economy. An individual who can provide satisfactory evidence of regular income is eligible to access the NHF mortgage facility. Any intending beneficiary must be a registered contributor and up to date with his/her contributions.
Please visit https://www.fmbn.gov.ng/National%20Housing%20Fund/nhf.html#nhf-faq for further information about the NHF mortgage loans.