The Federal Housing Authority FHA, has suspended all ongoing construction and development in its Estates in Lagos.
A special public announcement released and signed by the management on Thursday directed that all forms of construction works within the FHA estates located in Festac town , Ipaja, Abesan , Isheri, Olofin and others is put to a halt forthwith.
Therefore, all developers are expected to report to the FHA South west Zonal office in Festac Lagos on Thursday, with relevant documents.
The documents includes Letters of Allocation, Approved Building plans, payment receipts, all documents to prove ownership, including evidence of change of ownership, such as consent letters.
Defaulters of this directive are
given three months with effect from today , Thursday, January, 23 , to
regularise all property documents and obtain all requisite approvals.
FEDERAL HOUSING AUTHORITY
SPECIAL PUBLIC ANNOUNCEMENT
“The Management of Federal Housing Authority, by this announcement, has suspended all ongoing developments in FHA Estates in Lagos State. “
“This pronouncement covers all forms of construction works within the FHA estates in FESTAC, Ipaja, Abesan, Isheri Olofin, and others in Lagos. “
“Consequently, all developers are to report to the FHA South West Zonal Office at 211 Road (near 202 Road), FESTAC Town, Lagos, from Thursday, 23rd January, 2025, with the following documents:
· Letters of Allocation
· Approved Building Plans
· Payment Receipts
· All documents to prove ownership, including evidence of change of ownership such as, Consent Letters.”
“Defaulting allottees developing their properties without approvals are through this medium, given an amnesty window of three (3) months with effect from today, Thursday, 23rd January, 2025 to regularise their property documents and obtain all requisite approvals.”
“Similarly, owners of already completed Residential Buildings and Commercial Properties like: Hotels, Restaurants, Banks, Shopping Malls, Petrol Filling Stations,
Gas Plants, Telecommunications Masts, etc, without appropriate approvals issued by FHA are encouraged to come forward to regularise their papers with FHA within this amnesty period of three (3) months.”
“Strict sanctions shall be applied to any developer who disregards these directives. “
Announcer:
Management
Source- Punchng.com
Babajide Okusaga & co are Chartered Surveyors and Real Estate Consultants with expertise in Agency, Investment, Management, and Syndication (AIMS). We are known for being client-focused and results-driven, aiming to connect clients with their specific real estate needs such as sales, letting, joint ventures, and partnerships.
We dedicate time and energy to ensure clients’ satisfaction by helping them find the best-suited real estate solutions. Whether it’s leasing office space, financing a first home, purchasing a new factory, or managing an investment portfolio, Babajide Okusaga & Company caters to the considerations of corporate entities, individuals, and High Net Worth Individuals (HNIs).
Contact 02013423872 for Enquiries.
#2025RealEstateOutlook #NigerianPropertyMarket #AffordableHousingNigeria
#RealEstateInvestmentNigeria #PropertyValueAppreciation #NigerianHousingMarket
#RealEstateTrends2025 #NigeriaBureauOfStatistics #GDPRebasing
#NigerianRealEstateForecast #AffordableHousingSolutions
Read next-
