The Lagos State Government, acting through the Lagos State Real Estate Regulatory Authority (LASRERA), has successfully resolved the land dispute between RevolutionPlus Property Limited and its customer, Kayode Oladipo....CONTINUE READING THE FULL ARTICLE>>>
In a statement signed by Adeoti Shobowale, Deputy Director of Public Affairs at LASRERA, it was revealed that the resolution comes after a viral video where Oladipo claimed non-allocation for 20 purchased plots.
According to Shobowale, the dispute has been settled with an agreement for the allocation of five plots at Amazon Estate, Epe, as specified in the statement.
Oladipo, currently residing abroad, accused RevolutionPlus Real Estate and its Managing Director, Bamidele Onalaja, of defrauding him of over N40 million.
He insisted that he had paid the amount to the firm in 2017 and was supposed to be allocated 20 plots of land.
In response to the situation, Lagos State Governor, Babajide Sanwo-Olu, directed LASRERA to investigate the matter. This led to top government officials, including the Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, initiating fact-finding discussions with RevolutionPlus Limited management.
The statement stressed the commitment of the state government to investigate such allegations in line with the LASRERA Law 2022, aiming to address fraudulent practices and safeguard the interests of investors in real estate transactions.
Bamidele Onalaja, CEO of RevolutionPlus Property Limited, explained that Oladipo subscribed for 20 plots of land, of which two were fully paid for, and the documentation completed. He clarified that the remaining 18 plots had not been fully paid, alleging non-compliance with the payment agreement.
He said, “Property not fully paid for with its associated costs will not be processed based on contract conditions because, in case of non-compliance, the company policy requires the relocation of such subscriber to another site upon completion of payment or refund of the deposited sum less than 40 per cent.
“Having defaulted in his payment pattern, RevolutionPlus Property Limited relocated him to another land site at Amazon Estate, Epe, which he declined while the option of refunding the sum advanced was also rejected by the complainant.”
The company relocated Oladipo to another land site at Amazon Estate, Epe, due to the payment default, but Oladipo declined and demanded his initially subscribed plots. Eventually, an agreement was reached for the allocation of five plots at Amazon Estate, Epe.
However, during the investigation, Oladipo maintained that he paid a deposit of N18,606,000.00 in 2017.
He cited job loss as the reason for discontinuing payments, rejected the relocation offer, and sought the government’s intervention to compel RevolutionPlus Property Limited to allocate his subscribed plots.
After deliberations, Oladipo agreed to accept the allocation of five plots at Amazon Estate, Epe, equivalent to the present value of his payment…CONTINUE READING>>
