AACSTRIS will ease land titles regularization in FCT — REDAN

Chairman Real Estate Developers Association of Nigeria (REDAN), FCT chapter, Osilama Emmanuel Osilama, has lauded the Federal Capital Territory Minister, Muhammad Musa Bello, for commissioning the Accelerated Area Council and Sectional Titles Re-Issuance Scheme (AACSTRIS) project office.

Osilama, in a statement at the weekend, said the commissioning would reduce the bottlenecks faced by landowners in the FCT in regularizing their land titles.

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He said the AACSTRIS project would meet its objectives of processing the backlog of pending applications for the regularization of area council land titles from customary to statutory titles, updating of spatial and land information records for pending applications for regularization of area council titles, commencing issuance of sectional titles for multi-dwelling units and mass housing estates in the FCT.

The minister had, during the commissioning on Thursday, said: “Land title owners across the area councils and homeowners in the many estates and mass housing schemes in the FCT can now fully benefit from their real estate investments as regularized titles would be issued statutory Rights of Occupancy and subsequently, Certificates of Occupancy which are bankable instruments.”