It is now mandatory for every practitioner in the real estate
business in Lagos, including house agents, property developers and
professionals to register with the Lagos State government to
continue their practice in the state.
The least of the requirements expected of the would-be
practitioner or those already in the business, are a minimum of
school leaving certificate and an office space with a traceable
address.
The move is to stem increased cases of scam in which innocent
citizens seeking to rent or purchase a property are defrauded of
their hard earned monies. The state government says is currently
prosecuting cases in courts in which developers and house agents
scammed unsuspecting citizens of sums of monies running into
several millions of naira. The mandatory registration will enable
the government build a database of practitioners so as to monitor
their activities and build public confidence in the sector. With
this, fraudulent agents and developers will be detected and shove
out of the system.
Toke Benson-Awoyinka, special adviser to the state governor on
housing, stated this at the launch of Lagos State Real Estate
Regulatory Authority (LASRERA) website/ registration portal
(www.lasrera.com[1] and
www.lasrera.lagosstate.gov.ng[2]) in Ikeja
on Thursday.
“The intention is to create, provide, develop, continuously
capture and update a unified central database of real estate
practitioners and their activities within Lagos State while making
it accessible to all objectives of planning and urban development,”
said Benson-Awoyinka
According to her, the launch of the website/portal is also in line
with the smart city initiative of the current administration, where
service delivery will be technology-driven and readily available to
the masses.
“We are well aware of the trend of fraudulent practices of some
real estate agents/ property developers, this is reflected in the
complaints received by the LASRERA in recent time of residents who
had fallen victims to fake real estate practitioners while seeking
for accommodation, purchasing or selling of properties.”
She noted that the government was committed to providing the
enabling environment and transparent real estate sector that
conforms to international best practices while also safeguarding
the ultimate interest of all the stakeholders.
“As a government, we have ensure the creation of an innovative
and sustainable environment to promote Lagos as a real investment
destination in Africa and the world,” she said, adding that it was
illegal for any real estate practitioner to be in business in Lagos
without being duly registered.
It is now mandatory for every practitioner in the real estate
business in Lagos, including house agents, property developers and
professionals to register with the Lagos State government to
continue their practice in the state.
The least of the requirements expected of the would-be
practitioner or those already in the business, are a minimum of
school leaving certificate and an office space with a traceable
address.
The move is to stem increased cases of scam in which innocent
citizens seeking to rent or purchase a property are defrauded of
their hard earned monies. The state government says is currently
prosecuting cases in courts in which developers and house agents
scammed unsuspecting citizens of sums of monies running into
several millions of naira. The mandatory registration will enable
the government build a database of practitioners so as to monitor
their activities and build public confidence in the sector. With
this, fraudulent agents and developers will be detected and shove
out of the system.
Toke Benson-Awoyinka, special adviser to the state governor on
housing, stated this at the launch of Lagos State Real Estate
Regulatory Authority (LASRERA) website/ registration portal
(www.lasrera.com[1] and
www.lasrera.lagosstate.gov.ng[2]) in Ikeja
on Thursday.
“The intention is to create, provide, develop, continuously
capture and update a unified central database of real estate
practitioners and their activities within Lagos State while making
it accessible to all objectives of planning and urban development,”
said Benson-Awoyinka
According to her, the launch of the website/portal is also in line
with the smart city initiative of the current administration, where
service delivery will be technology-driven and readily available to
the masses.
“We are well aware of the trend of fraudulent practices of some
real estate agents/ property developers, this is reflected in the
complaints received by the LASRERA in recent time of residents who
had fallen victims to fake real estate practitioners while seeking
for accommodation, purchasing or selling of properties.”
She noted that the government was committed to providing the
enabling environment and transparent real estate sector that
conforms to international best practices while also safeguarding
the ultimate interest of all the stakeholders.
“As a government, we have ensure the creation of an innovative
and sustainable environment to promote Lagos as a real investment
destination in Africa and the world,” she said, adding that it was
illegal for any real estate practitioner to be in business in Lagos
without being duly registered.