The Lagos State government has called for collaborations with real estate players and property developers on how to develop and sustain the housing sector of the economy.
At a forum, organised by the Lagos State Real Estate Regulatory Authority, LASRERA, under the Office of the Special Adviser to the Governor on Housing, participants agreed that there is an urgent need to forestall incessant building collapse.
The Special Adviser to the Governor on Housing, Mrs Adetoke Benson-Awoyinka said that the stakeholders forum, for Real Estate Practitioners and Property Developers, was convened to put in the right perspective the State’s mission to properly regulate the activities of all stakeholders in the housing environment, to allow government render effective service delivery to those seeking shelters.
Benson-Awoyinka stressed that it is now mandatory for anyone willing to operate as real estate agent in the state to obtain the Lagos State Real Estate Regulatory Authority license, as no realtor in the State will operate without proper documentations.
“This forum provides us an avenue to sensitize stakeholders to collaborate with the government by registering your organisations with the Agency for proper monitoring and data collection, so that we can easily identify the fake real estate Practitioners.
“It is painful to note that people fall victim to fraudulent real estate transactions unknowingly.” she said
She maintained that that government has chosen to communicate this development following incessant reports in the media about unwholesome practices in property transactions.
According to her “daily newspapers and social media are always inundated with the reports of various types of unprofessional practices mostly in property transactions. Just recently, a physically challenged couple were duped by a real estate agent around the metropolis. This is just one out of many other cases that have gone unreported.
This development is now becoming a daily occurrence in Lagos property market and this must be corrected.”
She stated that the approval for the upgrade of the Agency, LASRERA and the mandate to also establish operational offices in all the 57 local government and local development areas, was a pointer to its strength in creating standard across board.
Awoyinka mentioned that engaging in real estate transactions without registering with the State government or obtaining necessary approval is a punishable offense under the law, stressing that government would continue to collect taxes to provide basic infrastructures.
The Governor’s aide also affirmed that the Lagos Housing sector is being run on a 21st century platform, and will leverage on technology to expand its scope.
Participants at the event lauded the initiative and called for a paper report to highlight the regulatory framework and ensure speedy and efficient service delivery.
Other dignitaries at the forum include the Lagos State Commissioner for Housing Mr Moruf Fatai, Permanent Secretary of the Ministry, Mr Wasiu Akewusola, Director General and Managing Directors of building agencies among others.