TROUBLE FOR ILLEGAL REAL ESTATE FIRMS AS LAGOS GOVT VOWS TO STOP ACTIVITIES.

Babatunji Wusu –

The Lagos State Government has committed to crack down on unregistered persons and companies involved in real estate in the state.
Moruf Akinderu-Fatai, the Lagos State Commissioner for Housing, revealed this during a recent 2024 Ministerial Press Briefing.

Akinderu-Fatai cautioned that failing to register with the Lagos State Real Estate Regulatory Authority will result in legal penalties.

He said the warning was necessary to restore normalcy and ensure a fraud-free real estate industry in the state.

He warned citizens of the state to be wary of real estate agents with whom they do business in order to avoid falling prey to fraudulent and dubious agents.

He said, “It is also essential 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.”