Lagos Govt vows to scale enforcement against sharp practices in Real Estate sector just as stakeholders cries out over funds lost to land grabbers

The Lagos State Government has vowed to scale up enforcement against sharp practices in the Real Estate sector just as it insists that the year 2024 will no longer be business as usual.

The Special Advviser to the Governor on Housing, Barr Barakat Odunuga-Bakare read this riot act at the Real Estate Stakehder’s forum held in Ikeja area of Lagos.

She urged Nigerians in the Diaspora who intends to invest in the sector to always check the website of LASRERA for proper information before sealing any transactions.

According to her, the law regulating LASRERA came into being in 2021 to curb sharp practices in order to reposition the real Estate sector.

The Special Adviser further said and I quote” We will launch proper investigation on complaints by some operators over the demolition of their buildings in some parts of the state. The Tenancy law is in process to protect both the sellers and buyers of properties in the state and we are collaborating with the Ministry of Justice in addressing issues and challenges raised by some practitioners.” End of quote.

On his part, the Lagos state Chairman of the Real Estate Developers Association of Nigeria, Dr Bamidele Onalaja said the Standard Organisation of Nigeria has failed in her responsibilities in checking substands materials in the built industry.

He also urged government to stop the habit of demolishing buildings that failed to comply with the laws of the lands when they already reach completion stage.

He said REDAN is working with government to curb recurring building collapse in the state urging developers to get necessary documents before they set out tto build

Leading the stakehders in discussion at the forum, the Chairman MKH Group, Mr Muibi Kehinde Hammed accused some government officials of conniving with unscrupulous elements in the industry to reap developers of their hard eraned money

He said that Lagos state government must adhere strictly to enforcement on the industry adding he had lost millions of naira to land grabbers and became regular visitor to Alagbon and Zone 2 command of the Police due to unwholesome practices by some people.

While adding his voice, a Legal practitioner, Banjo said Developers at Lekki area used substandard materials during construction with no one checking them.

On her part, the Managing Director, Hafbam Properties. Hafsah Balogun lamented the increase in overnight Agents infilterating into the industry.

She was of the view that their unlawful activities is given genuine and committed practitioners bad name.

Mrs Alaba-Alozie Aishat of the Lasgidi Group of Africa said it was sad that most of the lands she sold to clients over the years cannot be accessed due to policy somersault from the Lagos state government.

According to her, most of the industry players borrowed money from Banks to run the business but now struggling to repay the loans.

Responding to some of the questions by the operators, the Permanent Secretary in the Lands Bureau, Mr Kamal Owodiran Olowoosago urged stakeholders to always conduct a proper search before going ahead with any transactions.

He noted that government was working towards digitalizing the process to fast track transactions with ease in the industry.

The Lands Bureau chief said Governor Sanwoolu is passionate about curbing the issues with land grabbing reason he set up the Committee on Land Grabbers in the state.

He however assured that it will be difficult for anyone to caught corners now in Lagos State adding the Governor appointed SA on GIS to assist the industry players in clearing the mess.

Olowosago also promised to revisit cases of forceful take over of some lands and property from operators especially in Lekki area of the state.