GOOD NEWS ON LAND TITLE EXCISION APPROVAL & MONTHLY TENANCY RENT BY THE LAGOS STATE GOVERNOR

From Babajide Sanwo-Olu

To end the menace of land grabbing in Lagos, I ordered a complete excision on untitled land across the State today.

This directive represents a major turning point in land administration for our state, as the exercise would enable the State Government carry out documented delineation on communal land and land owned by families.

I gave this order at the Lagos Real Estate Market Place Conference and Exhilarations organised by the Lagos State Real Estate Regulatory Authority (LASRERA). The two-day event with the theme: “Lagos: 21st Century Real Estate Investment Hub”, is the second edition to be held by the agency.

A technical committee will be set up to fine-tune the framework for the excision process on untitled land, with the objective to granting Certificate of Occupancy (C-of-O) to land owners for transparent sales of the asset.

I am not unaware of efforts by unscrupulous State officials to frustrate and sabotage the full take-off of the State’s Enterprise Geographic Information System (e-GIS) project initiated to automate approval of land surveys and allocation titles. Let me issue a stern warning; our administration will be ruthless in purging out saboteurs within the system.

Let me also add that by next year a new policy of monthly tenancy on property occupancy would kick off in Lagos. The concept is not to disenfranchise the landlord or reduce the expected revenue of the property.

It is our well considered position that monthly tenancy would ease off pressure on tenants, as the new policy is designed to make people pay their rents according to their monthly earnings.

In case you have any questions or require our assistance, make no hesitation to contact us today.

Realtor Michael
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