Lagos recovers N295m, seals illegal properties in Real Estate crackdown

By Kazeem Ugbodaga

The Lagos State Government on Tuesday said it has resolved over 1,200 real estate-related disputes and recovered nearly N300 million for residents through the Lagos State Real Estate Regulatory Authority (LASRERA), as part of its efforts to sanitise the property sector and protect investors.

Speaking at a ministerial press briefing in Alausa, Ikeja, the Commissioner for Housing, Moruf Akinderu-Fatai, outlined LASRERA’s achievements and activities, describing the agency as a critical tool in upholding professional standards and protecting buyers and tenants from fraudulent actors.

According to the Commissioner, LASRERA has successfully mediated in 1,580 out of 1,899 cases brought before it, resolving 1,243 disputes amicably through its Alternative Dispute Resolution (ADR) mechanism.

He noted that while 23 cases are still ongoing, 147 were abandoned by parties involved, and 172 were referred to other relevant agencies. Eight cases are currently in court—two at the Federal High Court, three in the State High Court, and three in Magistrate Courts.

“Through its interventions, LASRERA has helped recover N295,471,800 on behalf of aggrieved parties and secured the return of 20 properties to rightful owners,” Akinderu-Fatai revealed.

He said the agency currently has 925 individuals and organisations fully registered on its portal—lasrera.lagosstate.gov.ng—out of over 2,550 applicants seeking regularisation, a move aimed at ridding the sector of quacks and boosting investor confidence.

Akinderu-Fatai warned that it remains a criminal offence for individuals or organisations to engage in real estate transactions in the state without registering with LASRERA.

“We urge all residents to verify agents and developers on our portal to avoid falling prey to dubious operators,” he said.

On stakeholder engagement, the Commissioner noted that LASRERA has held five consecutive editions of the Lagos Real Estate Marketplace Conference and Exhibition, the latest of which was held in December 2024 with the theme “Reimagining Lagos Landscape: Ensuring Sustainable Real Estate Development Practices.”

Akinderu-Fatai further disclosed that the ministry has begun enforcing compliance with the original master plans of government housing estates, following several infractions by allottees who have made unauthorised modifications.

He said properties in violation have been marked for sealing and could be reclaimed by the government in line with existing agreements.

He added that the agency continues to partner with other ministries, departments and agencies (MDAs) to drive public advocacy and ensure a harmonised approach to real estate development and regulation across the state.

“Our mission is clear—protect consumers, enforce standards, and transform the real estate sector into a model of integrity, professionalism and sustainability,” the Commissioner said.