Lagos Urges Residents To Patronize Only Registered Real Estate Practitioners.

Interest Rate: Obaseki Cautions Of Tougher Times Ahead

March 5, 2024

2024: The Year of Entrepreneurship – By Oladele Adekunle

February 5, 2024

Apart of measures to rid the Lagos Real Estate industry of quacks or fraudulent developers and agents, the State Government has unveiled the Lagos State Real Estate Regulatory Authority, LASRERA.

This agency was formerly known as , Lagos State Real Estate Transaction Department, which was just a unit within the Ministry of Housing.

Unveiling the new agency and it’s registration portal to the media in Alausa- lkeja, the Special Adviser to the Governor on Housing, Mrs Toke Benson- Awoyinka said the establishment of agency was to create a robust and co-ordinated platform where all genuine stakeholders in the Housing Industry in the State can interact effectively to solve the problems associated with Real Estate.
The Special Adviser explained that registration on the LASRERA platform is compulsory for all developers and Real Estate agents in the State because it is backed by Law, Mrs Benson- Awoyinka, said the compulsory registration is to address fraudulent practices among some Real Estate agents and property developers who defraud Lagosians seeking for accommodation or wishing to purchase or sell properties.
Mrs Benson- Awoyinka who also doubles as the head of the agency, said the establishment of LASRERA was in line with six points agenda, THEMES of the Governor Babajide Sanwo-Olu led administration in turning Lagos to a Smart city, where development is driven by Technology.
While explaining that among the conditions for a Real Estate agent to register on the portal of the agency is that he/ she must possess a minimum of Secondary School certificate and own a visible office, Mrs Benson – Awoyinka said LASRERA registration centres will soon be created across the Fifty- seven Local Governments and Local Council Development Areas in the State.
The Special Adviser to Governor on Housing, Mrs Benson -Awoyinka used the opportunity to appeal to all resident of the State to patronize only registered Real Estate Practitioners and Property Developers to guide against fraudsters in the industry.

Ibukunoluwa Temitope