Kingsley U.N Chikwendu
The Minister of the Federal Capital Territory [FCT], Malam Muhammed Musa Bello has disclosed that Area Council land title owners, beneficiaries of mass housing schemes and multi dwelling structures in the FCT can now have their titles regularized paving way for the issuance of Certificates of Occupancy (C of O).
He made this disclosure yesterday during the commissioning of the Accelerated Area Council and Sectional Titles Re-Issuance Scheme (AACSTRIS) project office. Malam Bello said that land title owners can now benefit from real estate investments.
“Land title owners across the Area Councils and home owners 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”, he stated.
The Minister also revealed that the project is expected to improve the revenue base of the FCT through the payment of premium, ground rents and other sundry charges which will subsequently be utilized for the provision of needed infrastructure.
Malam Bello, who said the establishment of the AACSTRIS office was yet another milestone in the quest of building a very efficient and responsive land administration in the FCT, also, commended the management of the Abuja Geographic Information System and Department of Land Administration for their commitment to the project.
In addition to commissioning the AACSTRIS project office, the FCT Minister also commissioned the utility vehicles for the project, as well as, the upgraded AGIS Geospatial Data Infrastructure which is intended to accommodate new data from the AACSTRIS project and extend services to other stakeholder departments.
