The Special Adviser to Lagos State Governor on Housing, Mrs. Toke Benson-Awoyinka has affirmed confidence in the operation Permit being issued by the Agency for practitioners in the Real Estate sector, saying that the initiative will not only boost the Real Estate Investment for practitioners but will also boost diaspora confidence in the sector.
The Special Adviser expressed this view on Wednesday during an interview session with the Real Estate Developers Association of Nigeria (REDAN) Southwest Media Incorporation, at Alausa.
She explained that LASRERA, an Agency under the State’s Ministry of Housing, was established to regulate business transactions among Real Estate Practitioners, Property Developers and Facility Managers and also checkmate all forms of fraudulent activities in the Real Estate sector.
Benson-Awoyinka said that the amended Bill establishing LASRERA, which would soon be passed into Law by the Lagos State House of Assembly, will further sanitise Real Estate practices in Lagos and project the State as a destination of choice for investment in Real Estate.
She averred that the sector has the potentials of being a major source of investment opportunities for investors while contributing to the Internally Generated Revenue (IGR) of the State Government, if public confidence in the sector is restored.
The Special Adviser stated that the proposed Amendment Bill of 2020 currently before the State’s House of Assembly would protect investors, buyers, as well as sellers, and will also promote ease of doing business for the practitioners when it is finally passed and signed into law by Governor Babajide Sanwo-Olu.
She averred that the registration of the practitioners by the Agency is vital to all persons in the Real Estate sector, adding that the compilation of data on Real Estate developments would also aid the government in planning around complimentary infrastructure within the State.
“With the Permit Licence that LASRERA is giving to Real Estate Practitioners/Property Developers, individuals seeking the services of the sector can log on to https://lasrera.lagosstate.gov.ng to transact business with registered practitioners in the State”, Benson- Awoyinka stated.
While urging residents who had been duped by fake Real Estate Practitioners/Property Developers to report to the Agency’s office for necessary action, she declared LASRERA’s readiness to protect those seeking accommodation and investors in the State.