Lagos Government Cracks Down On Illegal Real Estate Operations

The Lagos State Government has made a firm commitment to crack down on unregistered individuals and organizations involved in real estate activities within the state. This resolve was underscored by Moruf Akinderu-Fatai, the Lagos State Commissioner for Housing, during a recent 2024 Ministerial Press Briefing.

Akinderu-Fatai emphasized that illegal real estate agents will face legal repercussions for failing to comply with the registration requirements of the Lagos State Real Estate Regulatory Authority. This stern warning aims to maintain orderliness and promote transparency in the real estate sector within the state.

Residents were urged to exercise caution when dealing with real estate agents to avoid falling prey to fraudulent practices. Akinderu-Fatai stressed the importance of spreading awareness about the legal obligations of individuals and organizations engaged in real estate business in Lagos State.

He emphasized, “It is imperative that we communicate extensively that conducting real estate transactions in Lagos State without proper registration with LASRERA is a punishable offense. Let us adhere to the law and act responsibly.”

Furthermore, in light of the ongoing demolition of houses in certain areas of the state, the Lagos State Government has encouraged affected Lagosians to apply for compensation. Tokunbo Wahab, the Commissioner for Environment and Water Resources, conveyed the administration’s empathy towards affected residents and assured that each compensation application will be carefully evaluated on a case-by-case basis.

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