Real Estate

N29bn Ground Rents Debt: FCTA to Place Caveat on Debtors’ Property

The FCT Administration has placed a caveat on properties whose cases are already in courts as a step towards recovering the N29 billion debt owed it by property owners in the Federal Capital Territory. The FCT Director of Information and Communication, Muhammad Hazat…

26/09/2022

N29BN Ground Rent Debt: Asokoro, Maitama Property Owners, Highest Debtors

Property owners in the affluent Asokoro, Industrial Area II, and Maitama Districts are the highest debtors, owing 10.67, 9.43, and 9.29 per cent of the total amount owed, respectively, as the Coordinating Committee on the Recovery of Outstanding Ground Rents of N29,506,643,943.98…

14/07/2022

FCTA Begins Demolition Of Houses On Waterways

The Federal Capital Territory Administration (FCTA) has begun the demolition of over 100 buildings constructed on waterways at Dutse Makaranta, a suburb in Bwari Area Council. The Senior Special Assistant to the Federal Capital Territory (FCT) Minister on Monitoring, Inspection and Enforcement…

01/07/2022

Ground Rent: FCTA To Revoke Property, Prosecute Defaulters

The Federal Capital Territory Administration (FCTA) Committee on the Recovery of N29 billion outstanding ground rents has threatened to prosecute and revoke property of defaulters. A statement by the Director Information and Communication, Muhammad Sule, on Wednesday in Abuja, said property owners who…

30/06/2022

FCTA Gives Owners 1-month Ultimatum To Develop Land

Federal Capital Territory Administration (FCTA) has given a one-month ultimatum to owners of plots at Apo-Dutse Pantaker site in Abuja Municipal Area Council (AMAC) to develop their plots of land or risk revocation of the plots. The senior special assistant on Monitoring,…

28/06/2022

Lagos Raises Flag On Estate Agency Practice, Begins Registration Enforcement

Lagos State government has raised red flag for those involved in estate agency practice in the state that are yet to register their practice with the agency responsible for that called Lagos State Real Estate Regulatory Authority (LASRERA). It advised the practitioners…

21/05/2022

Collapse Building: I Gave Tenants Quit Notice – Caretaker

The landlord’s son, in whose care the collapsed three-storey building was entrusted, said that he gave the occupants of the building quit notice when he discovered the visible stress on it. The caretaker, who spoke on condition of anonymity, told emergency responders and…

03/05/2022

LASG, NBA-SBL: Lawyers Must Be Active In Real Estate Sector To Curb Cases Of Fraud And Arbitrariness Says Lagos Gov’s Aide

The Special Adviser to Lagos State Governor on Housing, Mrs Toke Benson – Awoyinka on Thursday urged property lawyers to do more in the real estate sector. She urged them to take charge of activities in the sector to protect the interest of…

09/04/2022

LASG, NBA-SBL Plan Forum On Monthly Rent

THE Lagos State Government, through the Lagos State Real Estate Regulatory Authority, in conjunction with the Nigerian Bar Association has concluded plans to hold a stakeholders’ forum for lawyers in the real estate sector. The Special Adviser to the Governor on Housing,…

06/04/2022

N48.3bn Housing Fund Trapped In 60 Mortgage Banks, Others

NO fewer than 60 mortgage banks and estate firms are indebted to the Federal Mortgage Bank of Nigeria to the tune of N48,304,975,056.9. The National Housing Fund facility was reportedly diverted or misappropriated by the mortgage banks and private real estate developers…

20/03/2022

Real Estate

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