LAGOS, Nigeria (VOICE OF NAIJA)-The Lagos State Government has issued a stern warning to unregistered real estate individuals and organisations, cautioning them against conducting real estate activities within the state without complying with the registration requirements set by the Lagos State Real Estate Regulatory Authority.
Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, issued the warning during the 2024 Ministerial Press Briefing marking Governor Babajide Sanwo-Olu’s first year of his second term.
Akinderu-Fatai stressed the necessity of the warning to maintain integrity and prevent fraud in the state’s real estate sector.
He urged state residents of the state to be cautious when dealing with real estate agents to avoid falling prey to fraudulent and unreliable ones.
“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.
READ ALSO: Real Estate Firm Mulls Strategies For Real Estate Investment
“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.
Addressing the accomplishments within his ministry during the review period, the commissioner highlighted significant advancements in the construction of ongoing housing projects funded directly through budgetary allocations across 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.”
The commissioner noted that LagosHOMS Ibeshe Phase 2, with 192 housing units in Igbogbo-Baiyeku LCDA, is slated for completion by the second quarter of next year.
READ ALSO: PHOTOS: Lagos State Receives N1bn Donation From Otedola
Additionally, he highlighted the progress of joint venture schemes between the Lagos State Government and the private sector, resulting in the construction of 4,531 housing units soon to be available for Lagos residents.
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.
“To this end, this current administration under the T.H.E.M.E.S. + Agenda has implemented a range of laudable initiatives aimed at tackling the affordable housing challenge in Lagos State,” Akinderu-Fatai added.