The Lagos State Government has warned unregistered individuals and organisations to desist from engaging in real estate activities in the state or face legal consequences for non-compliance with the Lagos State Real Estate Regulatory Authority registration requirements.
Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, who gave the warning recently at the 2024 Ministerial Press Briefing to commemorate the first year of Governor Babajide Sanwo-Olu’s second term in office, said the warning became imperative to instill sanity and ensure fraud-free real estate business in the state.
He advised residents of the state to be mindful of real estate agents they do business with so as not to fall victim to fake and dubious estate agents.
“It is also important to request that we spread the warning across every platform that it is an offence for an individual and organisation to engage in real estate business in Lagos State without being registered with LASRERA. Let us act responsibly and follow the path of the law.
“I want to seize this opportunity to raise awareness on the need for residents not to fall victim to fake and dubious Estate agents and to patronise the registered real estate individuals, and organisations,” he declared.
Speaking on the activities embarked on and executed under his ministry in the period of review, the commissioner explained that huge progress has been made in the construction of ongoing housing schemes through direct budgetary allocation in five divisions of the ministry.
“The ongoing housing schemes can be found in the Egan-Igando Mixed Housing Scheme, with a total of 846 units in the Igando-Ikotun Local Council Development Area.
“LagosHOMS Sangotedo Phase, located in Eti-Osa East LCDA, consists of 528 housing units and is projected to be completed by the fourth quarter of 2024.
“Epe Housing Scheme, Itamarun in Epe Local Government is also projected to produce 112 housing units by the fourth quarter of 2024.
“LagosHOMS Ajara in Badagry Local Government has 420 home units with a projected date of completion of the first quarter of 2025.”
According to Akinderu-Fatai, LagosHOMS Ibeshe Phase 2, with 192 housing units in Igbogbo-Baiyeku LCDA, is proposed to be completed by the second quarter of next year.
The commissioner explained that the joint venture schemes between the Lagos State Government and the private sector had led to the construction of 4531 home units, which would soon be completed for Lagosians.
He reaffirmed Governor Sanwo-Olu’s commitment to providing affordable housing for Lagosians.
“It is, however, our strong belief that affordable housing is a possibility within our grasp. But achieving this vision requires bold and resilient strategies, as well as innovative resolutions from all stakeholders within the sector.
