Bennett Oghifo
A subscriber to one of the property of Pentagon Estate, Mr. Ademola Oluwaranti is distraught because he wasn’t allocated the two plots of land he paid for in 2007 until this month. Besides the long wait, he endured a bitter court process which favoured him. The court ordered Pentagon to give him his land.
However, Oluwaranti is still unhappy because Pentagon is asking him to pay N3.5 million for each of the two plots of land he bought for N700,000 about 18 years ago.
He said, “They asked me to pay N7 million as development levy for both plots. My query is that I did not buy the land in 2024. As such, why should I pay this. I bought both plots in 2007 for N700,000.
“I bought the land in 2007. They did not give me the land and they did not say anything about development levy.
“In so far I know that in every estate, they pay development levy when you move to site, but the case remains that they did not allocate my land to me in 2007. I bought the two plots at N350,000 each in 2007, which was a lot of money then.
“Now in 2024, they’re asking me to pay N3.5 million each for development levy for a land I bought at N350,000. It does not sound reasonable in any law. So, what I’m saying is this, while I’m open to paying development levy, which is a function of how much you paid for the land. I didn’t buy the land in 2024. How much did those who bought land from him for N350,000 in 2007 and took possession, pay as development levy?
“If he is not going to refund my N2.6 million, which I paid to rezone, and which I should not have paid, according to the Chairman of Pentagon, so, can we cross that for development levy? And they write me a receipt and swap that and development levy is sorted.”
When contacted, the Chairman of Pentagon Estates, Mr. Okoruwa Kennedy said, “Usually, when your land is in a place that is not fully developed, you will pay for relocation and they will relocate you from where you are to where you can start building. I found out that they have paid for relocation and that is why they have been relocated.
“However, the estate requires infrastructure and they will pay that cost of infrastructure when they want to start development. It is not something they will have to pay now.”
Pentagon told the subscriber, “Also please note that you made a payment for reallocation, as the currently allocated land is a reassigned plot.”
According to Pentagon, “The Development Levy is payable at the current rate of ₦3.5 million per plot, ₦500,000 initial payment and spread balance within 17 months.
“Payment Terms for 2 Plots:
Initial Payment is ₦1,000,00 and balance payable in 17 monthly installments.”
