Often times, especially in our own country, Nigeria, we hear people refer to where they live as Estates say "Prince and Princess Estate". Although commonly or widely used, it's incorrect.

According to wikipedia, an estate in common law, is the net worth of a person at any point in time alive or dead. It is the sum of a person's assets, legal rights, interests and entitlements to property of any kind, less all liabilities at that time. The issue is of special legal significance on a question of bankruptcy and death of the person. 

Depending on the particular context, the term is also used in reference to an estate in land or of a particular kind of property (such as real estate or personal estate). The term is also used to refer to the sum of a person's assets only

Meanwhile, Wikipedia gave the definition of a gated community as a form of residential community or housing estate containing strictly controlled entrances for pedestrains, bicycles, and automobiles, and often characterized by a closed perimeter of walls and fences. Similar walls and gates have separated quarters of some cities for centuries. Gated communities usually consist of small residential streets and include various shared amenities. For smaller communities, these amenities may include only a park or other common area. For larger communities, it may be possible for residents to stay within the community for most daily activities. Gated communities are a type of common interest development, but are distinct from intentional communities.

So when next you need an accommodation in an 'estate', won't you rather say to your realtor, "i'd love a 2bedroom serviced apartment in Prince and Princess gated community going for xxxnaira per annum...",  and impress or educate your realtor, whichever works.