Lagos State Recovers N295 Million and Seals Illegal Properties in Real Estate Crackdown
Lagos State Recovers N295 Million and Seals Illegal Properties in Real Estate Crackdown
Lagos State Government announced on Tuesday that it has successfully resolved over 1,200 property-related disputes and recovered nearly N300 million for residents through the Lagos State Real Estate Regulatory Authority (LASRERA). This initiative is part of ongoing efforts to clean up the property sector and protect investors.
During a press briefing at Alausa, Ikeja, the Commissioner for Housing, Moruf Akinderu-Fatai, highlighted LASRERA’s significant achievements, emphasizing its role in maintaining professional standards and shielding buyers and tenants from fraudulent activities.
He stated that LASRERA has mediated in 1,580 of the 1,899 cases received, resolving 1,243 disputes amicably via its Alternative Dispute Resolution (ADR) mechanism. While 23 cases are still ongoing, 147 were abandoned by the parties involved, and 172 cases have been referred to other relevant agencies. Additionally, eight cases are currently in court—two at the Federal High Court, three at the State High Court, and three in Magistrate Courts.
Akinderu-Fatai revealed that the agency’s interventions have led to the recovery of N295,471,800 for affected individuals and the return of 20 properties to their rightful owners.
He also provided an update on registration efforts, noting that 925 individuals and organizations are fully registered on LASRERA’s portal (lasrera.lagosstate.gov.ng), out of over 2,550 applicants seeking property regularization. This move aims to eliminate unlicensed operators and enhance investor confidence.
The Commissioner cautioned that engaging in real estate transactions without LASRERA registration is a criminal offence in Lagos State. Residents are urged to verify agents and developers on the portal to avoid falling victim to unscrupulous operators.
Regarding stakeholder engagements, Akinderu-Fatai announced that LASRERA has hosted five editions of the Lagos Real Estate Marketplace Conference and Exhibition, with the latest held in December 2024 under the theme “Reimagining Lagos Landscape: Ensuring Sustainable Real Estate Development Practices.”
He also disclosed that the ministry has commenced enforcement of compliance with the original master plans of government housing estates, addressing unauthorized modifications. Properties found in violation are being marked for sealing, with possible reclamation by the government as stipulated in existing agreements.
Furthermore, LASRERA is collaborating with other government ministries, departments, and agencies to raise public awareness and ensure a coordinated approach to real estate regulation across Lagos.
“Our mission is clear—to protect consumers, uphold standards, and transform the real estate sector into a model of integrity, professionalism, and sustainability,” the Commissioner affirmed.
