Our Reporter
THE Lagos State Estate Agency Regulatory Authority (LASRERA) has set new rules engagements for real estate agents operating across the state.
Giving this hint recently was the Special Adviser to the Governor on Housing, Adetoke Benson-Awoyinka. She spoke during the official launch of the agency’s official website, registration portal and social media handles, as part of stringent regulatory measures to tackle fraudulent activities of real estate agents and developers in the state.
The move according to the agency is in line with the commitment of the Babajide Sanwoolu-led Government of Lagos State to improve technology infrastructure, and make Lagos a ‘Smart City’ where services will be digitally ready and available to the masses.
According to her, the trend of fraudulent practice in real estate sector by developers and agents in the state is on the increase and is reflected in the number of complaints received by the agency in recent times, adding that the move is to ensure the industry is well regulated to curb fraudulent practices.
While noting that the formal unveiling of the agency’s website and logo is in line with the commitment of the state government to improve technology infrastructure, she said the website will enhance post-COVID compliance initiatives to promote transparency and become a one-stop-shop to stakeholders and government. “I hereby introduce you to our latest website www.lasrera.com. We have a registration portal at www.lasrera.lagosstate.gov.ng The registration portal allows you to upload your documents. So you no longer have to visit our offices to register to get your license to practice in Lagos. We welcome real estate agents and developers willing to transact lawfully within our dear state.”
Expatiating, she assured that “As the trend of fraudulent practice in real estate and developers increase and is reflected in the number of complaints received by the agency in recent times. Residents are falling victim to fake real estate practitioners and property developers. As of yesterday, a young lady walked into our office and complained that she has been defrauded by a property company who received money via bank transfer from her totaling N30million. Also, we recently prosecuted another agent at Ajao Estate who engaged in fraudulent practices. He was persecuted and we got judgment which ensured the property was forfeited to the Lagos State Government. We are in the process of selling that property and refunding defrauded citizens.
“Lagos State government has worked tirelessly over the years to curb fraudulent practices in this sector. We will continue to ensure that we go through the full length of the law to get fraudulent practitioners prosecuted,” she stressed.
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