Two years jail term awaits this category of estate agents, please read…
CITIZENS COMPASS – Oyo State House of Assembly has passed the Oyo State Land Control and Administration Bill 2023 into law.
The bill, which was passed into law at Thursday’s plenary, prescribed a fine of N500,000 or a year imprisonment for property agents who are not professionally certified but involved in land transaction above 50 hectares within urban areas, 100 hectares within rural areas, estate development with more than 50 housing units.
Also, a N1 million fine or two years imprisonment or both awaits anyone involved in real estate business without registration.
The new law sets standards for land agents and persons who are into real estate business and also prescribes procedures to acquire and use land in the state.
The passage of the bill into law followed a presentation by the Chairman, House Committee on Lands and Survey, Dele Adeola.
Aimed at knowing the intention behind acquisition of large expanse of land, the bill stipulates that any land for farming purpose above 100 hectares in urban areas shall be subjected to the approval of the State Land Administration Committee (SLAC), chaired by the Commissioner for Lands, Housing and Urban Development.
SLAC will also approve the use of land, not more than 50 hectares in the urban areas, for commercial and industrial purposes.
The law also sets up a Local Land Administration Committee (LLAC), which will approve the use of land above 250 hectares for farming purposes and 100 hectares for commercial and industrial in rural areas.
Furthermore, the use of land for residential use, which include housing scheme and estate development with more than 50 housing units shall be subjected to the approval of SLAC or LLAC.
Another aspect of the bill is that any agency, corporate organisation, companies or individual carrying out real estate business in the state must register with the Ministry of Lands and Oyo State Housing Corporation.
Certified professionals in land administration who engaged in land transaction without due process are liable to be suspended from practice or pay a fine of N500,000 or a year imprisonment.
The bill also puts setbacks to circular roads in the state at 150m on both the right and left sides.
Similarly, setbacks to rail lines was pegged at 200m on both the right and left sides, while setbacks for rivers is 30m.
Speaking after the plenary, Adeola said that the law will enable the government to know the intention behind acquiring many hectares of land by people, thereby assisting in curtailing possible security threat.
He added that the law will also regulate activities of land agents, estate developers and prevent a situation where all lands meant for industrial purposes are turned into residential areas.
Adeola said that SLAC and LLAC will also help to ascertain the intention behind acquisition of many hectares of land as well as help in resolution of land related disputes.